Slide 1: Company Presentation
Company Presentation 18-20 February 2020
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are not a guarantee of future performance and which involve certain risks. Actual results and future outcomes will in all likelihood differ
Slide 3: Corazon Mining Limited – At A Glance
Corazon Mining Limited – At A Glance Projects Capital Structure – ASX:CZN Lynn Lake – Nickel-Copper-Cobalt Sulphide Issued Shares 2.4b • Manitoba – Canada Quoted Options(1) 529m • Advanced exploration/development project • Historical mine + prospective exploration ground Market Cap (@ $0.004/share $
Slide 4: Two Quality Projects – Key Demand Driven Commodities
Two Quality Projects – Key Demand Driven Commodities Lynn Lake – Priority Focus for CZN Nickel-Copper-Cobalt Old Mining Centre Large JORC Resource Base Redevelopment Opportunity Exciting Ni Sulphide Exploration Play Mt Gilmore Copper-Cobalt-Gold Generating a Compelling Exploration Play 1st World loc
Slide 5: Lynn Lake – Nickel Sulphide Development Opportunity
Lynn Lake – Nickel Sulphide Development Opportunity LOGISTICALLY EASY EXPLORATION Prolific historic mining centre Excellent infrastructure Large resource base Resource growth potential Exciting regional discovery opportunity Manitoba – one of the best mining provinces in Canada 5
Slide 6: Corazon – Building a Quality Nickel Sulphide Asset in Canada
Corazon – Building a Quality Nickel Sulphide Asset in Canada SINCE 2010 – EXPLORATION AND DISCOVERY Consolidated the historical Mining Centre (2015) Exploration success with two discoveries JORC Resources for six separate deposits RECENT ACTIVITY – A FOCUS ON MINING Appointment of Mr Terry S
Slide 7: Lynn Lake – Nickel Endowment
Lynn Lake – Nickel Endowment PROLIFIC LARGE TONNAGE – LOW COST PRODUCER Past Production 1953-1976 Historical Mine Area 206,200t Nickel and 107,600t Copper A Plug - 18Mt @0.88% Ni + 0.47%Cu EL Plug - 1.9Mt @ 2.4% Ni + 1.15% Cu Resource Estimate – 27th November 2019 Base Tonnes Category Cut Ni T
Slide 8: Lynn Lake Mining Centre – Multiple Deposits & Remnant Potential
Lynn Lake Mining Centre – Multiple Deposits & Remnant Potential South Western Areas Discovery– 2008 Target - December North 2019 Drilling 18m @ 1.5% Ni, 0.70% Cu 4 kms Disco Resource 77kt @ 0.71%Ni, C B A ‘EL’ Resource 0.41%Cu E 2.4Mt @ 0.94%Ni, 0.32%Cu ‘O’ Resource 6.0Mt @ 0.68%Ni, 0.32%Cu F D J D
Slide 9: Lynn Lake Mining Centre – “Brown-Fields Exploration” Focus
Lynn Lake Mining Centre – “Brown-Fields Exploration” Focus DRILLING DECEMBER 2019 “C Orebody” DEFINING NEAR SURFACE MINERALISATION Potential exists for disseminated sulphide Priority Target Area mineralisation surrounding areas of historical underground mining of high- grade deposits 37.8m @ 1.68%
Slide 10: Current Studies Seeking Mining and Processing Efficiencies
Current Studies Seeking Mining and Processing Efficiencies Preliminary Mining Studies 2016 & 2019 CRITICAL AREAS OF ACTIVITY AT LYNN LAKE FOR PROJECT DEVELOPMENT Mining studies will define optimal mining methods for OpEx and CapEx cost minimisation Processing studies are defining: Optimal proc
Slide 11: ‘Game-Changing’ Metallurgical Results – Improvements Expected
‘Game-Changing’ Metallurgical Results – Improvements Expected DELIVERS “PRODUCT” OPTIONALITY First comprehensive flotation testwork in more than 40 years First time separate clean high-value nickel and copper concentrates have been produced (ASX announcements date 11th & 12th Feb 2019) 26% Nicke
Slide 12: Lynn Lake – Exciting Discovery Potential in Region
Lynn Lake – Exciting Discovery Potential in Region CONSOLIDATION OF PROSPECTIVE NICKEL GROUND FOR THE FIRST TIME SINCE 1976 Modern exploration techniques and a new understanding for the formation of these deposits has identified multiple Lynn Lake style targets Difficult terrain, targets are pre
Slide 13: Fraser Lake Complex – Priority Regional Exploration Target
Fraser Lake Complex – Priority Regional Exploration Target UNDISCOVERED DESPITE EXPLORATION SINCE 1950’s 1950’s/1960’s Mapping FLC is twice as large as Lynn Lake ‘A Plug’ Chemically and structurally similar to Lynn Lake Rail Historical Drilling Pregnant with Ni-Cu sulphides The Matrix Trend
Slide 14: Fraser Lake Complex – Extensive Nickel Sulphide Mineralisation
Fraser Lake Complex – Extensive Nickel Sulphide Mineralisation MATRIX IP ANOMALY – 1ST TARGET TESTED OUTSIDE THE MINING CENTRE +1.8km IP Chargeability anomaly coincident with multiple stacked horizontal sulphide-rich Hole #14 magmatic pulses/flows 56.1m @ 0.43% Ni & 0.21% Cu from 258m, including
Slide 15: Lynn Lake - Summary
Lynn Lake - Summary RIGHT COMMODITIES – PERFECT TIMING Lynn Lake - One of the best brown-fields nickel sulphide exploration plays in North America Underpinned by 116,800t nickel, 54,300t copper and 5,300t cobalt Market support and sentiment for nickel sulphide projects is growing Nickel mark
Slide 16: Lynn Lake – Comparison with Australian Ni Sulphide Resources
Lynn Lake – Comparison with Australian Ni Sulphide Resources Lynn Lake ranks as a substantial project when matched against Australian nickel sulphide resource areas 116,800t Ni (80% Indicated Category) 54,300t Cu 5,300t Co IMPORTANT INFORMATION 1. Supporting data and references for these published r
Slide 17: Supporting Data for Comparison with Australian Ni Sulphide Deposits
Supporting Data for Comparison with Australian Ni Sulphide Deposits Resource Company Date of Data Measured Indicated Inferred Project Project Status References Sources '000 '000 '000 Name Code Ni% Cu% Co% Ni% Cu% Co% Ni% Cu% Co% Tonnes Tonnes Tonnes Yakabindi BHP Billiton BHP Mine Development BHP An
Slide 18: Mt Gilmore Project - Targeting “Battery Metals” in Australia
Mt Gilmore Project - Targeting “Battery Metals” in Australia Mt Gilmore Project - Targeting “Battery Metals” in Australia Mt Gilmore Copper-Cobalt-Gold Cobalt Ridge Prospect – Cobalt dominant sulphide deposit New, giant copper-cobalt geochemical anomalies - exciting regional exploration focus 18
Slide 19: Mt Gilmore Regional High-Grade Cu Trend
Mt Gilmore Geology + Copper in Soils Image Regional High-Grade Cu Trend Mt Gilmore Grafton 19
Slide 20: Mt Gilmore Regional High-Grade Cu Trend
Mt Gilmore Geology + Copper 21.6 %Cu 361 ppmAg in Soils Image Regional High-Grade Cu Trend 0.17 g/t Au 0.64 %Cu 176 ppmCo 0.78 %Cu UNIQUE - EARLY STAGE - DISTRICT-SCALE 294 ppmMo 148 ppmCo 0.12 g/tAu EXPLORATION PLAY 10.75 %Cu 180 ppmCo 0.41 %Cu Large geochemical anomalies indicative of 0.11 g/tAu
Slide 21: Mt Gilmore Project - Cobalt Ridge Prospect
Mt Gilmore Project - Cobalt Ridge Prospect MAIN LODE DEFINES POTENTIAL 32m @ 0.15% Co, 27m @ 0.47% 0.25% Cu Co, 0.15% Cu A Cobalt Ridge Main Lode Drilling B 5m @ 2.14% Co, 0.33% Cu Cobalt in Soils Image 21
Slide 22: Mt Gilmore Project - Cobalt Ridge Prospect
Mt Gilmore Project - Cobalt Ridge Prospect QUARTZ-TOURMALINE BRECCIAS UNTESTED POTENTIAL SPATIALLY ASSOCIATED WITH 8 %Co 2m @ 0.64 %Co, 1.66 COBALT-COPPER MINERALISATION (Historical Workings) %Cu, 0.13 g/tAu in Reconnaissance Drilling Tourmaline is a common mineral within hydrothermal deposits – t
Slide 23: Corazon – Way Forward
Corazon – Way Forward RIGHT COMMODITIES – PERFECT TIMING Lynn Lake Nickel-Copper-Cobalt Sulphide Project One of the best nickel exploration plays in North America Underpinned by 116,800t nickel, 54,300t copper, 5,300t cobalt Market support and sentiment for nickel sulphide projects is growin
Slide 24: Competent Person Statement
Competent Person Statement The information in this report that relates to Exploration Results and Targets is based on information compiled by Mr. Brett Smith, B.Sc Hons (Geol), Member AusIMM, Member AIG and an employee of Corazon Mining Limited. Mr. Smith has sufficient experience that is relevant t
Slide 25: CONTACT
CONTACT Level 3, 33 Ord St, WEST PERTH WA 6005 PO Box 8187, SUBIACO EAST WA 6008 +61(8) 6142 6366 info@corazon.com.au 1 www.corazon.com.au