Slide 1: Company Presentation: Nickel Sulphide Discovery in Canada
March 2012 For personal use only COMPANY PRESENTATION “Nickel Sulphide Discovery in Canada”
Slide 2: Who is Corazon?
Who is Corazon? For personal use only New high-grade nickel-copper sulphide discovery at an old mining district in Canada Junior explorer ASX : CZN Market cap $13.8M Discovery hole 23.75 m @ 3.34% Ni, 1.54% Cu, 0.08% Co Analogies with historical mined high-grade 1.9Mt @ 2.5%Ni, 1.15%Cu + Co 2
Slide 3: Key Financial Statistics
Key Financial Statistics Capital Structure Share Price & Volume For personal use only C losing Price (A$) M illion Shares 0.25 9.0 Unit Value Daily Volum e Traded O n-M arket Daily C lose Price 8.0 Current Price A$ $0.10 0.20 Ordinary shares # 137,891,415 7.0 Options 1 # 71,357,710 6.0 0.15 Market C
Slide 4: Main Focus – The EL Deposit
Main Focus – The EL Deposit Obvious Exploration Upside South North For personal use only Highest grade deposit at Lynn Lake Truncated Mineralisation Relatively shallow - only mined to 210m in a district with mining depths up to +1,100 metres Mined 1.9 Mt @ 2.5% Ni, 1.15% Cu Near Surface Mineralisati
Slide 5: Forward Work Program
Forward Work Program For personal use only Upcoming Milestones: Ongoing Exploration Early Resource Drill Target Stage Mine upgrade Results upgrade Planning How big is it? Recent drilling results have re- Already underway Ongoing drilling program to Drilling underway, multiple shaped the de
Slide 6: Lynn Lake – Project Location
Lynn Lake – Project Location Project Highlights For personal use only Manitoba Province Canada’s 3rd largest nickel producing area CZN – largest land holder in region Excellent infrastructure – regional hub - Township - Abundant hydro-electricity and water - Sealed airstrip - Road or rail access to
Slide 7: Lynn Lake – Mining Centre
Lynn Lake – Mining Centre A Plug For personal use only Mines Historical Production Sheritt Gordon operation – 1953 to 1976 – 23 years Production - 22.2 Mt @ 1% Ni & 0.5% Cu Historical nickel price at <US$2/lb EL Mine Maximum mining depth to 1,100m below surface Current Resources The “A Plug” Deposit
Slide 8: Lynn Lake – Mining Centre
Lynn Lake – Mining Centre A Plug For personal use only Mines Historical Production Sheritt Gordon operation – 1953 to 1976 – 23 years Production - 22.2 Mt @ 1% Ni & 0.5% Cu Historical nickel price at <US$2/lb EL Mine Maximum mining depth to 1,100m below surface Current Resources The “A Plug” Deposit
Slide 9: The EL Deposit – Opportunity & Strategy
The EL Deposit – Opportunity & Strategy Obvious Exploration Upside South North For personal use only Highest grade deposit at Lynn Lake Truncated Mineralisation Relatively shallow - only mined to 210m in a district with mining depths up to +1,100 metres Mined 1.9 Mt @ 2.5% Ni, 1.15% Cu Near Surface
Slide 10: EL Deposit – Exploration Target
EL Deposit – Exploration Target* UPPER ZONE Tonnage Range South North For personal use only 0 ‐ 200m below surface From To Low cost opencut mining option 2,200,000 2,600,000 Truncated Mineralisation Surface Grade Range Contained Metal Range Mined Metal From To From To Upper 1.9 Mt @ 2.5% Ni, Zone 1.
Slide 11: EL Mine – A Similar Australian Deposit
EL Mine – A Similar Australian Deposit For personal use only Mined 1.9 Mt @ 2.5% Ni, 1.15% Cu 226 Ni t/vm (mined) Mined Depth 132 Ni t/vm 210 m (mining + reserves) Upper Zone Reserve Interim Inferred Resource 2.2 Mt @ 1.26% Ni 1.8 Mt @ 0.8% Ni, 0.4% Cu, Exploration Target (*) 5.2 to 7.4 Mt @ 1.0 - 1
Slide 12: EL Extensions – High Grade Sulphide Breccia
EL Extensions – High Grade Sulphide Breccia South North For personal use only XND001W1 Truncated Mineralisation Surface 23.75 m @ 3.34% Ni, 1.54% Cu & 0.08% Co Mined incl 13 m @ 4.27% Ni & 0.89% Cu 1.9 Mt @ 2.5% Ni, 1.15% Cu Sulphide Fault Breccia Fault Mined Depth 210 m Mafic Plan View Intrusion 20
Slide 13: EL Extensions – Recent Drill Results
EL Extensions – Recent Drill Results XND001 23.50m @ 1.50% Ni & 0.50% Cu For personal use only XND001W1 23.75m @ 3.34% Ni & 1.54% Cu Including XND001W2 13.00m @ 4.27% Ni & 0.89% Cu -700 mbs 23.91 m @ 2.27% Ni & 0.80% Cu CRZ011A 2.3m @ 3.84% Ni & 0.41% Cu Discovery Hole XND001W1 23.75 m @ 3.34% Ni &
Slide 14: EL Deposit – Poly-Metallic Value of Mineralisation
EL Deposit – Poly-Metallic Value of Mineralisation For personal use only Poly-Metallic Mineralisation – Nickel, Copper & Cobalt The EL Deposit is predominantly a nickel deposit, with significant copper and cobalt metal credits Lynn Lake has a long history of mining and processing, with historical re
Slide 15: Lynn Lake – Mining Centre
Lynn Lake – Mining Centre Mine Area Plan View For personal use only North EL Mine 150 Plug EL Mine A Plug Deposits 2000 foot level New High-Grade Discovery Prophecy Tenements Corazon Tenements Mine Area Cross-Section View (looking west) 15
Slide 16: Lynn Lake – Past Mining Studies
Mining and Processing Key Criteria Lynn Lake – Past Mining Studies Item Underground (all zones) Units Values Underground Ore ‐ Production tonnes 10,737,237 Mine Area Plan View Average Mined (diluted) Grades Nickel % 0.64 For personal use only Copper % 0.35 Cobalt % 0.02 North Total Ore Milled tonnes
Slide 17: Lynn Lake – Past Mining Studies
Lynn Lake – Past Mining Studies Mining and Processing Key Criteria Item Units Values For personal use only Underground (all zones) Underground Ore ‐ Production tonnes 10,737,237 Average Mined (diluted) Grades Nickel % 0.64 EL Deposit target grades Copper % 0.35 are much higher Cobalt % 0.02 Total Or
Slide 18: Forward Work Program
Forward Work Program For personal use only Upcoming Milestones: Ongoing Exploration Early Resource Drill Target Stage Mine upgrade Results upgrade Planning How big is it? Recent drilling results have re- Already underway Ongoing drilling program to Drilling underway, multiple shaped the de
Slide 19: Investment Highlights - Summary
Investment Highlights - Summary For personal use only Spectacular new nickel sulphide discovery below historical nickel mine CZN discovery hole: 23.75m @ 3.34% Ni, 1.54% Cu, 0.08% Co Corazon with option to acquire 100% equity in project Canada’s 3rd largest nickel producing area, with Corazon the
Slide 20: Forward Work Program – A Catalysis for Value
Forward Work Program – A Catalysis for Value For personal use only Upcoming Milestones: Ongoing Exploration Early Resource Drill Target Stage Mine upgrade Results upgrade Planning How big is it? Recent drilling results have re- Already underway Ongoing drilling program to Drilling underway
Slide 21: Disclaimers and Important Information
Disclaimers and Important Information Forward Looking Statements For personal use only This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are no guarantee of future performance and which involve certain risks. Actual
Slide 22: Disclaimers and Important Information
Disclaimers and Important Information Mineral Resource (continued) For personal use only Assay results are obtained from ALS Mineral Services in Thunder Bay, Ontario, Canada. Samples are prepared using single stage pulverization of the entire sample. Base metal assays are obtained by 4 Acid digestio
Slide 23: Competent Person
For personal use only Competent Person The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Andrew Thompson, B.Sc Hons (Geol), MAusIMM, an employee of Corazon Mining Limited. Mr Thompson has sufficient experience