Mt Gilmore, NSW


Corazon’s exploration at the Mt Gilmore Project continues to deliver exciting results, underpinning the project’s blue-sky potential

  • New drilling program commenced July 2018 – initial 14 hole-2000m RC and core drilling at the priority Cobalt Ridge Deposit
  • Multiple new cobalt prospects identified within the wider Mt Gilmore Project area – demonstrates significant regional potential for Cobalt Ridge ‘lookalike’ deposits
  • New high-tenor gold anomaly defined at Nettle Creek – 2 kilometres south of Cobalt Ridge
  • Four new, large cobalt-copper-gold soil anomalies discovered north of Cobalt Ridge, immediately on strike
  • Corazon produces battery-grade cobalt – highly successful completion of the initial phases of metallurgical testwork

Mt Gilmore Project Overview

The Mt Gilmore Project is located 35 kilometres from the major regional centre of Grafton in northeastern New South Wales. Corazon owns a 51% interest in the Project, and the exclusive right to earn up to an 80% interest in the Project.

Drilling by Corazon at Cobalt Ridge has validated historical mining and exploration results and confirmed the presence of multiple zones of cobalt-copper-gold sulphide mineralisation over a strike length of at least 300 metres. The mineralisation remains open along strike and at depth. The Main Cobalt Lode has been the primary target of the Company’s recent drilling (and much of the historical drilling). This lode is up to 25 metres in true width and contains multiple narrow zones of higher-grade mineralisation.

Corazon has defined the prospective 18 kilometre “Mt Gilmore trend” within the Project area; it includes more than 25 historic working, including significant shafts, adits and drives with high-grade copper and gold mineralisation (rock chips up to grades of 26.8% Cu and 9.2 g/t Au) in addition to the cobalt mineralisation.

Although mapping indicates extensive hydrothermal alteration and copper-gold mineralisation at surface, very little modern exploration has been undertaken at the Project. Aside from small-scale historic mines, previous exploration has predominantly been restricted to general prospecting/ mapping, rock-chip/ grab sampling, with drilling completed at only one of the targets (the Pulganbar–Cobalt Ridge area).

Figure 1: Project location