Slide 1: Corporate Presentation: Building a Globally Significant Nickel Sulphide Asset
Corporate Presentation Building a Globally Significant Nickel Sulphide Asset June 2020 | ASX: CZN
Slide 2: Forward Looking Statement
2 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 diffe
Slide 3: Corazon Mining Limited – At A Glance
3 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 (@ $0.003/share)
Slide 4: Two Quality Projects – Key Demand Driven Commodities
4 Two Quality Projects – Key Demand Driven Commodities Lynn Lake – Priority Focus for CZN Nickel-Copper-Cobalt Major Historic Nickel Sulphide Mining Centre Large JORC Resource - With Upside Potential Significant Development Opportunity Exciting Exploration Play Mt Gilmore Copper-Cobalt-Gold New Comp
Slide 5: Lynn Lake Strategy
5 Lynn Lake Strategy CORAZON HAS A TWO-PRONGED STRATEGY FOR EXPLORATION AND DEVELOPMENT i) Expand near-surface JORC 2012 resource base at the Lynn Lake Mining Centre to complement existing resources at depth • Building on the already extensive resources and looking to develop a significant low-cost
Slide 6: Lynn Lake Project Background
6 Lynn Lake Project Background A PROLIFIC HISTORICAL NICKEL PRODUCING DISTRICT Mine operated for 24 years until 1976 – producing 206,200t Nickel and 107,600t Copper Large high quality JORC 2012 Resource – with drill defined growth potential Excellent infrastructure – established mining distric
Slide 7: Building a Globally Significant Nickel Sulphide Asset in Canada
7 Building a Globally Significant Nickel Sulphide Asset in Canada SINCE 2010 – EXPLORATION AND DISCOVERY Corazon has consolidated ownership of the entire Lynn Lake Nickel Camp Historical Mine Area Historical production from two mafic intrusions A Plug - 18Mt @ 0.88% Ni + 0.47%Cu EL Plug - 1.
Slide 8: Building a Globally Significant Nickel Sulphide Asset in Canada
8 Building a Globally Significant Nickel Sulphide Asset in Canada SINCE 2010 – EXPLORATION AND DISCOVERY RECENT ACTIVITY Major Resource upgrade at Lynn Lake Mining Centre and identifying drill define potential for expansion Near Surface Exceptional new metallurgical testwork results – further Re
Slide 9: Exciting Discovery Potential Within Region
9 Exciting Discovery Potential Within Region MODERN EXPLORATION TECHNIQUES TESTING FOR CONCEALED DEPOSITS Sulphide in Outcr0p 1941 Discovery MULTIPLE GENETICALLY SIMILAR INTRUSIVES PROSPECTIVE 1947 Drilling Massive Sulphides in Narrow Zones up to 1.08% Ni Outcrop FOR SULPHIDE DEPOSITS – PART OF ONE
Slide 10: MVI Geophysical Processing
10 MVI Geophysical OLD FLC2017-14 Conventional Magnetic 85.5m @ 0.22%Ni, 0.11%Cu Processing Susceptibility Inversion Cross-Section -300E 53.1m @ 0.40%Ni, 0.18%Cu Incl AN EFFECTIVE NEW TARGETING TOOL Effective to possibly 200-300 22.6m @ 0.70%Ni, Basal Contact of 0.35%Cu metres below surface Intrusio
Slide 11: Fraser Lake Complex (FLC)
11 Fraser Lake Complex (FLC) THE EXPLORATION JEWEL IN THE CROWN FLC is located 5km south of the Lynn Lake Mining Centre 1950’s/1960’s Mapping FLC is twice as large as the ‘A Plug’ at Lynn Lake Rail Geochemically and structurally similar to Lynn Lake and is Historical Drilling pregnant with Ni-
Slide 12: Fraser Lake Complex: The Matrix Trend
12 Fraser Lake Complex THE MATRIX TREND – CORAZON’S INITIAL TARGET MATRIX IP ANOMALY – EXTENSIVE NICKEL SULPHIDE MINERALISATION WITHIN THE FLC Matrix Trend is a +1.8km IP Chargeability anomaly coincident with multiple stacked sub- horizontal sulphide-rich magmatic pulses/flows Hole FLC2017-14 Wi
Slide 13: Priority New Target
13 Priority New Target COMPELLING LOCATION (Looking Northeast) New geophysical processing methods have identified a magnetic high on the flat basal contact of the FLC New geological model created for the basal contact accumulation of sulphide – west of the Matrix Trend Large +300m x +200m targ
Slide 14: Priority New Target
14 Priority New Target COMPELLING LOCATION (Looking Northeast) Basal Contact anomaly is consistent over a strike of +300 metres, west of the Matrix Trend “Basal Contact” setting similar is to numerous other major global nickel-copper magmatic sulphide deposits Voisey’s Bay (Canada) Nova Boll
Slide 15: Testing of New Priority Target Underway
15 Testing of New Priority Target Underway CURRENT STATUS OF DRILLING (ASX announcement 1 May 2020) Drilling of this new target is underway – drilling paused due to poor surface conditions caused by spring meltwater Drill Collar Hole FLC2020-22 drilled to 523.4m (~400m below surface) (refer to s
Slide 16: Lynn Lake: ‘Brown-Fields’ Exploration and Development Focus
16 Lynn Lake: ‘Brown-Fields’ Exploration and Development Focus HISTORIC UNDERGROUND MINING CENTRE 0 500m N Potential for near surface mineralisation – extensions from past underground mining operations A Shaft A Plug Golf 2019/2020 drilling has delivered exceptional results Deposit Disco Deposit
Slide 17: Lynn Lake Mining Centre: Multiple Deposits – Existing Resources & Expansion Potential
17 Lynn Lake Mining Centre: Multiple Deposits – Existing Resources & Expansion Potential South Western Areas Discovery Drilling Target North 2019/2020 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, 0.3
Slide 18: Excellent Metallurgical Recoveries High-Grade Concentrates
18 Excellent Metallurgical Recoveries High-Grade Concentrates NEW TESTWORK DELIVERS EXCEPTIONAL RESULTS 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
Slide 19: Lynn Lake Project: Next Steps
19 Lynn Lake Project NEXT STEPS Drilling FLC Drilling of current target to be completed ASAP Other priority targets Lynn Lake Mining Centre Further targeted near-surface resource expansion drilling New Target Identification Modern geophysics is the key to identifying new areas of int
Slide 20: Mt Gilmore Project - Targeting “Battery Metals” in Australia
20 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
Slide 21: Mt Gilmore – High Grade Copper
Geology + Copper Mt Gilmore – High Grade Copper in Soils Image Mt Gilmore Grafton
Slide 22: Mt Gilmore – High Grade Copper
Geology + Copper 21.6 %Cu 22 Mt Gilmore – High Grade Copper in Soils Image 361 ppmAg 0.17 g/t Au UNIQUE – EARLY STAGE – DISTRICT SCALE – 0.64 %Cu 176 ppmCo 0.78 %Cu EXPLORATION PLAY 294 ppmMo 148 ppmCo 0.12 g/tAu Large geochemical anomalies indicative of 10.75 %Cu hydrothermal “Intrusive Related”
Slide 23: Mt Gilmore Project - Cobalt Ridge Prospect
23 Mt Gilmore Project - Cobalt Ridge Prospect LARGE AREA IDENTIFIED PROSPECTIVE FOR RESOURCE HIGH GRADE COBALT + COPPER + GOLD DEFINITION WORK 8 %Co 2m @ 0.64 %Co, 1.66 Only the Cobalt Ridge Main Lode (Historical Workings) %Cu, 0.13 g/tAu has been effectively drill tested in Reconnaissance Drillin
Slide 24: Corazon – Way Forward
24 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 significant Resource with additional expansion potential: 116,800t nickel, 54,300t copper, 5,300t cobalt Market
Slide 25: Competent Person Statement
25 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 relevan
Slide 26: 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 www.corazon.com.au