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Lynn Lake
Project

Corazon took the strategic step of consolidating the entire Lynn Lake nickel field under its ownership in 2015 – the first time this world-scale nickel belt had been controlled by one company – and set about the systematic development and exploration of the project.

The Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada, is a significant Class-1 nickel resource. As one of Canada’s largest historic nickel producing regions, producing 206,200t nickel and 107,600t copper over a period of 24 years up to 1976, the project is host to a large JORC compliant resource and is supported by well-established infrastructure.

100% Ownership

Corazon controls Lynn Lake’s entire nickel sulphide mining centre and prospective exploration ground.

Class-1 Nickel

Lynn Lake is a significant Class-1 nickel resource with a high quality JORC resource that is only partially developed.

Exciting Discovery Potential

Proven potential exists within the Lynn Lake Mining Centre and regionally, including the priority Fraser Lake Complex target.

About the project

Lynn Lake hosts a large JORC nickel-copper-cobalt resource and presents Corazon with a major development opportunity that is becoming increasingly prospective due to recent increases in the value of both nickel and cobalt metals, and their expected strong demand outlooks associated with their core use in the emerging global electric vehicle industry. With little modern exploration undertaken to date, the opportunity for discovery at Lynn Lake is substantial.

Over a period where there was little market interest in nickel sulphide, Corazon took the strategic step of consolidating the entire Lynn Lake nickel field under its ownership in 2015 – the first time the prolific historical mining centre has been controlled by one company since mine closure in 1976, and set about the systematic development and exploration of the projects.

Right Commodities – Perfect Timing

Corazon’s work programs are focused on getting Lynn Lake development-ready at a time when demand is strong for new supply sources of quality nickel.

By incorporating modern technology and a modern approach to optimise the project’s geology and infrastructure, Corazon has built up a thorough understanding of Lynn Lake’s geology and the opportunities it presents to deliver a robust, long-lived, economically viable operation at Lynn Lake.

Corazon’s two-pronged strategy at Lynn Lake is focused on development and exploration. Mining Centre studies are seeing to optimise the potential for a large-tonnage, low-cost, long-life mining operation. Exploration in the mine area is looking to expand the near-surface JORC resource base in search of start-up feed to complement existing resources at depth.

Exciting Discovery Potential

Corazon upgraded the JORC Mineral Resource Estimate for the Lynn Lake Project to 16.3Mt @ 0.72% Ni, 0.33% Cu, 0.033% Co (indicated and Inferred, 0.5% Ni cut-off), with a total contained metal of 116,800t Ni, 54,300t Cu and 5,300tCo. The upgraded Resource includes an internal high-grade Resource Estimate of 5.4Mt @ 0.99% Ni, 0.41% Cu, 0.043% Co (Indicated and Inferred, 0.7% Ni cut-off).

The current total Resource Estimate includes just six deposits within the Mining Centre, with multiple additional areas of mineralisation yet to be evaluated as potential additions to the Resource base. The estimation is of a very high quality and is well supported by drilling and historical mining data. It is anticipated that very little additional verification drilling and sampling will be required to upgrade the majority of the defined tonnages in the Resource to the higher Measured category. Learn More.

Corazon is currently undertaking new mining studies at Lynn Lake seeking to assess and maximise the synergies and interactions across the disciplines of geology, geotechnical, mining strategy and processing to ensure optimal whole-of-project outcomes. The final deliverable of the mining studies will be a revised mining strategy for the entire mineralised area at Lynn Lake, focused on optimal production rates and low mining costs. The mining studies are designed to identify gaps in the historical data and areas that can be optimised and enhanced. Learn More.

Fraser Lake Complex

The Fraser Lake Complex (FLC) is fertile with nickel-copper-cobalt sulphide and is Corazon’s priority exploration target at Lynn Lake. Corazon has systematically explored the FLC – an intrusive mafic body situated approximately five kilometres south of the Lynn Lake Mining Centre – since December 2016, and believes it has the potential to host significant nickel-copper-cobalt sulphide deposits.

Exploration by Corazon at the FLC (including drilling, ground geophysics, downhole geophysics and geochemistry) has resulted in the discovery of a large magmatic sulphide system that has the potential to host significant nickel-copper sulphide deposits.

The FLC has physical and chemical characteristics that suggest it is prospective for hosting Lynn Lake style magmatic nickel-copper-cobalt deposits. Corazon’s drilling has confirmed this potential, consistently intersecting Lynn Lake mine-grade nickel-copper-cobalt mineralisation. Learn More.