Corazon Mining Limited · ASX:CZN
Corazon Mining — Australian Nickel Conference (October 2010)
26 slides from Corazon Mining's conference presentation, Oct 13, 2010
Slide 1: Company Presentation
For personal use only Company Presentation ASX : CZN “An Australian company … developing nickel sulphides in Canada.”
Slide 2: Disclaimer and Important Information
Disclaimer and Important Information This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward For personal use only looking statements which are no guarantee of future performance and which involve certain risks. Actual results and future outcomes
Slide 3: Company History
Company History For personal use only Graynic Metals Limited (GYN) 2005 to May 2010 Xanadu Resources Limited (XNU) May/June 2010 Corazon Mining Limited (CZN) June 2010 (current) 3
Slide 4: A New Beginning
A New Beginning For personal use only Corazon Mining New Company New Management New Direction The Project The Lynn Lake Nickel Sulphide Project Brown-Fields Exploration, in a Proven Region The Way Forward Development & Discovery Opportunities 4
Slide 5: The Corazon Opportunity – A Comparison
The Corazon Opportunity – A Comparison For personal use only ~ 226 Ni t/vm (mined) Mined Depth ~ 132 Ni t/vm 210 m (mining + reserves) Resource Target Upper Zone 500m Exploration Drive & Drilling 600 m ~ 125 Ni t/vm (resource) Drill Hole KUD810 Untested 1.40 m @ 2.50% Ni & 2.90 m @ 3.00% Ni Lower Zo
Slide 6: EL Plug – Resource Announcement October, 2010
EL Plug – Resource Announcement 13 October, 2010 For personal use only Maiden 1.8Mt resource at EL Mine Lynn Lake Nickel Sulphide Project, Canada Highlights Maiden inferred resource of 1.8Mt at 1.0% Ni equivalent* (0.6% Ni equiv* cut-off) Resource includes 14,000t nickel, 9,000t copper and 400t coba
Slide 7: Corporate Profile
Corporate Profile Shares on Issue 68.29 M For personal use only Options 56.07 M Market Cap (@ 10 cps) $ 6.83 M Cash (as at 30June 2010) $ 1.20 M 12 Month Price Activity (CZN, GYN, XNU Ordinary Shares) High:- 11 cents (August 2010) Low:- 3 cents (June 2010) Last (12/10/10) 10 cents Share Holders The
Slide 8: Board and Management
Board and Management For personal use only Clive Jones Non-Exec Chairman Brett Smith Managing Director Jonathan Downes Non-Exec Director Adrian Byass Non-Exec Director Rob Orr Company Secretary Andy Thompson Chief Geologist 8
Slide 9: Lynn Lake - Project Location
Lynn Lake -Project Location For personal use only Manitoba Province Interpreted Regional Geology 9
Slide 10: Project - Infrastructure
Project - Infrastructure For personal use only Old Mining Centre Airstrip No inherited environmental liability No access issues Township Road & Rail Access A Plug Smelters at Thompson & Flin Flon Mines Well Serviced District Mineral Claim Abundant power & water Outline EL Mine Extensive Drill Data P
Slide 11: Lynn Lake Nickel Camp - Geological Setting
Lynn Lake Nickel Camp - Geological Setting Interpreted Geology For personal use only Sediments Lynn Lake Township Mafic Volcanics & Sediments A Plug Mafic Intrusive EL Plug EL Plug – Drill Core Diorite Felsic Volcanics & Sediments Tonalite Granite Lynn Lake Nickel Sulphide Camp “A Plug” & “EL Plug”
Slide 12: Historical 'Mine Set' – Large Low Grade
Historical ‘Mine Set’ – Large Low Grade The ‘A Plug’ – Prophecy Resource Corp. (TSX-V PCY) For personal use only Past production – 20 M tons @ 1% Ni & 0.5% Cu (1953 to 1976) Mined Depth - approx 1,000 metres below surface Remnant Resources* – 22.9 M tons @ 0.57% Ni & 0.3 % Cu (* = as reported by PCY
Slide 13: The EL Mine – High Grade 'Jewel in the Crown'
The EL Mine – High Grade ‘Jewel in the Crown’ The ‘EL Mine’ – Corazon Mining Ltd For personal use only Past production – 1.9 Mt @ 2.5% Ni & 1.15% Cu (1954 to 1962) Mined Depth – Approx 210 metres below surface, open cut and underground Development to 270 metres Aerial view of the EL Mine - 1977 Aeri
Slide 14: Current Exploration – Resource Definition
Current Exploration – Resource Definition Resource Drilling For personal use only Difficult drill target Past Production 1.9 Mt @ 2.5 % Ni & 1.15 % Cu High-grade potential obvious Mined Depth XND003 19.85m @ 1.58% Ni & 0.54% Cu 210 m Resource Estimation incl 1.57m @ 4.03% Ni & 0.22% Cu and 1.52m @ 4
Slide 15: Current Exploration – Resource Statement
Current Exploration – Resource Statement CORAZON MINING LIMITED For personal use only EL Plug, Lynn Lake , Manitoba CA Inferred Mineral Resource October 2010 COG Tonnes Grade Contained Metal Ni% Cu Tonnes Tonnes Tonnes Equiv* k tonnes Ni% % Co% Ni equiv* Ni Cu Co 0.5 2,300 0.7 0.4 0.02 0.9 16000 900
Slide 16: Exploration Strategy
Exploration Strategy Resource For personal use only Interim resource – upside potential exists Additional historical data? Further drilling into gaps Past Production Resource Extensions 1.9 Mt @ 2.5 % Ni & 1.15 % Cu Mined Depth To 1,000m below surface (locally mined depths) XND003 210 m 19.85m @ 1.5
Slide 17: Exploration Strategy – A Plug
Exploration Strategy – A Plug A Plug Targets For personal use only A Plug 30 % of prospective host rock Recent discovery of ‘Disco’ Ni-sulphide deposit (Western Areas – 2008) Ni-Cu sulphide deposits Zn-Cu VMS deposits ‘Disco’ Active Canadian neighbour – (TSX-V :PCY Prophecy Resource Corporation ) cu
Slide 18: Exploration Strategy – A Plug
Exploration Strategy – A Plug A Plug Targets For personal use only A Plug 30 % of prospective host rock Recent discovery of ‘Disco’ Ni-sulphide deposit (Western Areas – 2008) Ni-Cu sulphide deposits Zn-Cu VMS deposits ‘Disco’ Active Canadian neighbour – (TSX-V :PCY Prophecy Resource Corporation ) cu
Slide 19: Exploration Strategy – Other Targets
Exploration Strategy – Other Targets EL Plug Style (Ni-Cu) Targets For personal use only A Plug Untested magnetic targets in close proximity Non-magnetic targets? Ni-Cu sulphide deposits Zn-Cu VMS deposits VMS Style (Cu-Zn+) Targets 10 drilled VMS deposits within area Historically defined exploratio
Slide 20: Exploration Strategy – New Targets
Exploration Strategy – New Targets For personal use only A Plug Cultural Features Gods Lake FL Deposit Z Deposit Eldon East New Targets Eldon Lake New Targets EL Plug 150 Plug Aeromagnetic Image 20
Slide 21: Exploration Strategy – New Targets
Exploration Strategy – New Targets For personal use only A Plug Cultural Features Gods Lake FL Deposit Z Deposit Eldon East New Targets Eldon Lake New Targets EL Plug 150 Plug VTEM Channel 30 image over photo with aeromagnetic shadow 21
Slide 22: Exploration Strategy – New Targets
Exploration Strategy – New Targets For personal use only A Plug Cultural Features Gods Lake FL Deposit Z Deposit Eldon East New Targets Eldon Lake New Targets EL Plug 150 Plug Google Image 22
Slide 23: Proposed Work Program – News Flow
Proposed Work Program – News Flow For personal use only Target Generation – Nov 2010 to Jan 2011 Geophysical data capture ( ground gravity, aeromagnetics, EM, IP?) Review of VMS potential Drill target definition Drilling Program – Feb 2011 Regional targets to be defined, including:- - 150 Plug? - El
Slide 24: Corazon Mining Limited – Summary
Corazon Mining Limited – Summary The Asset For personal use only EL Mine Resource – a substantial asset for Corazon Growth Via Exploration EL Mine extensions (still relatively shallow) Near by, multiple exploration targets Fertile region for nickel sulphide & VMS deposits Company Value Very active e
Slide 25: The Corazon Opportunity – A Comparison
The Corazon Opportunity – A Comparison For personal use only 226 Ni t/vm (mined) Mined Depth 132 Ni t/vm 210 m (mining + reserves) Interim Inferred Resource Upper Zone 500m Exploration Drive & Drilling 600 m 125 Ni t/vm (resource) Drill Hole KUD810 Untested 1.40 m @ 2.50% Ni & 2.90 m @ 3.00% Ni Lowe
Slide 26: An Australian company developing nickel sulphides in Canada
For personal use only “An Australian company … developing nickel sulphides in Canada.” ASX : CZN Suite 5, Level 1 www.corazon.com.au PO Box 8187 350 Hay Street Ph +61 (8) 6364 0518 SUBIACO East SUBIACO WA 6008 Fx +61 (8) 6210 1872 WA 6008
Corazon Mining — Australian Nickel Conference (October 2010) on 6ix