Miriam Nickel-Sulphide Project
Corazon has an exclusive option to acquire the Miriam Nickel Project in the Goldfields of Western Australia.
Corazon has entered into an option agreement pursuant to which it has been granted an exclusive option to acquire 100% of the Miriam Nickel Sulphide Project (Miriam or Miriam Project) near Coolgardie in Western Australia’s Goldfields minerals district (ASX announcement 26 July 2021).
The acquisition of the Miriam Project would complement Corazon’s core asset, the more advanced Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Canada.
Miriam is a highly prospective nickel exploration project hosting the Miriam Nickel Deposit, where drilling since the late 1960’s(1) has intersected ‘high nickel tenor’ massive and disseminated sulphides(2). The initial defining drill intercepts for the Miriam Deposit included:
- 9.6m @ 5.60% Ni
- 12.5m @ 0.56% Ni
- 3.2m @ 2.59% Ni
- 0.9m @ 5.57% Ni
- 6.1m @ 0.90% Ni
Notes: (1) Anaconda Australia Limited – 1969 to 1977 – WAMEX Reports A004513, A007001, A007002, A052299; (2) Nickel Mineralisation in Western Australia – GSWA Bulletin 14 – Marston 1984
About the Miriam Project
The Miriam Project is located approximately 10 kilometres south-southwest of Coolgardie on a trend of ultramafics best identified by the Miriam and Nepean (Auroch Minerals : AOU) nickel deposits (Figure 1).
The Miriam Project covers an area of about six (6) kilometres by one and a half (1.5) kilometers and comprises five Prospecting Licence applications (refer to Table 1 – Checklist of Assessment and Reporting Criteria – in ASX announcement 26 July 2021).
Anaconda Australia Limited discovered the Miriam Deposit, located within the Project, in 1969, and conducted most of the known nickel exploration in the late 1960s and early 1970s. This work defined the core of the Miriam Deposit over a strike of about 150 meters and to a depth of at least 150 metres below surface. Subsequent drilling extended the drilled depth in places up to about 300 metres below surface.
Referenced open-file documents (Table 1 – Checklist of Assessment and Reporting Criteria)) detailing historical work defines a nickel-copper endowment for the Miriam Deposit. This work is not compliant with today’s JORC standards, and, as such, further drilling is required to delineate Miriam’s JORC resource estimate.
Much of the historical drilling, which tested the ultramafic sequence north and south of the Miriam Deposit, was shallow percussion drilling that did not substantially penetrate the overlying oxidized zone. Many of the holes have not reached the ultramafic footwall target. There is extensive untested opportunity to target nickel sulphide mineralisation at depth and also along strike from previous drilling.
More recent nickel exploration campaigns were undertaken during the mid-1990’s (Crest Resources NL) and early-mid 2000’s (Berkeley Resources Limited JV’s with MPI and Sipa Exploration NL). This work continued to identify massive and disseminated nickel sulphides, located within or close to a well-defined channel sequences.
The existence of this defined target trend will allow Corazon to undertake focused and detailed exploration programs, utilising modern higher-powered electromagnetic (EM) geophysics. The most recent geophysical testwork for nickel sulphide exploration was completed in the early 2000’s, where EM proved successful in identifying drill defined mineralisation at the Miriam Deposit.