Corazon Mining Limited · ASX:CZN
Corazon Mining — RIU Resources Conference 2019
25 slides from Corazon Mining's conference presentation, May 7, 2019
Slide 1: Conference Presentation
Conference Presentation 7, 8 & 9 May 2019 LEVEL 1, 329 HAY ST, SUBIACO WA 6008 | PO BOX 8187, SUBIACO EAST WA 6008 | +61(8) 6142 6366 | INFO@CORAZON.COM.AU | WWW.CORAZON.COM.AU 1 1
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: Corporate Overview
Capital raising via a Share Purchase Corporate Overview Plan for Shareholders is currently in progress ASX: CZN Shareholders Total Ordinary Shares on Issue 1.381m(1) Top 20 Shareholders 37% Options on issue 145m Board and Management 1.6% Market Capitalisation ($0.004/share) $5.52m Hanking Australia
Slide 4: Two Quality Projects – Key Demand Driven Commodities
Two Quality Projects – Key Demand Driven Commodities Lynn Lake Nickel-Copper-Cobalt Old Mining Centre Large JORC Resource Base Redevelopment Opportunity Exciting Ni Sulphide Exploration Play Mt Gilmore Copper-Cobalt-Gold Newly Recognised Area Large Project – Little Historical Work Cu-Co Dominant Sul
Slide 5: Two Quality Projects – Recent Work Adds Value
Two Quality Projects – Recent Work Adds Value Lynn Lake Nickel-Copper-Cobalt New JORC Resource Ground-breaking metallurgical testwork results Ni concentrate – 26% Ni grade at 71% recovery Cu concentrate – 27% Cu grade at 77% recovery (Optimisation expected to improve recoveries) Fraser Lake Comp
Slide 6: Two Quality Projects – Recent Work Adds Value
Two Quality Projects – Recent Work Adds Value Mt Gilmore Copper-Cobalt-Gold New giant copper-cobalt-sliver-gold geochemical anomalies Copper sulphide targets - an additional exciting focus for exploration at the project Enormous value has been added to both projects over the last few months 6
Slide 7: Mt Gilmore Project New South Wales
Mt Gilmore Project Main focus of activity for New South Wales Corazon PROJECT SUMMARY – A NEW DISCOVERY OF A LARGE SULPHIDE SYSTEM Project hosts key demand-driven commodities for booming rechargeable battery sector Most advanced prospect is a unique cobalt dominant sulphide deposit – Cobalt Ridg
Slide 8: Mt Gilmore Project – Point of Difference
Mt Gilmore Project – Point of Difference THE COBALT RIDGE PROSPECT First World location +90% of metal captured in <10% of the mass feed Cobalt dominant sulphide mineralisation via simple flotation Simple, low capital processing options processing Mt Gilmore Quality products Grafton Sulphide
Slide 9: 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 10: Mt Gilmore Project – Recent Results
Geology + Copper Mt Gilmore Project – Recent Results in Soils Image COBALT RIDGE – ONE PROSPECT WITHIN A LARGE PROJECT AREA Multiple occurrences of late-1800’s / early-1900’s copper/gold workings NEW discovery - “district scale” geochemical anomaly coincident with basement of the Mt Gilmore Tren
Slide 11: Mt Gilmore Project – Recent Results
Geology + Copper 21.6 %Cu 361 ppmAg Mt Gilmore Project – Recent Results in Soils Image 0.17 g/t Au 0.64 %Cu 176 ppmCo 0.78 %Cu GEOCHEMICAL ANOMALIES UNDERPINNED 294 ppmMo 148 ppmCo 0.12 g/tAu BY HIGH-TENOR ROCK SAMPLES 10.75 %Cu 180 ppmCo 0.41 %Cu The recognition that numerous historical small 0.1
Slide 12: Mt Gilmore Project – Sulphides Outcrop
Geology + Copper Mt Gilmore Project – Sulphides Outcrop in Soils Image MAY QUEEN TARGET Initial field checks identify strong propylitic alteration - chlorite (Chl), magnetite (Mag), epidote (EPI) and sulphide mineralisation - chalcopyrite (CPY), pyrite (PY) and pyrrhotite (PYH). 12
Slide 13: Mt Gilmore Exploration – Several Substantial Priority Anomalies
Mt Gilmore Exploration – Several Substantial Priority Anomalies FAVOURABLE GEOLOGICAL SETTING May Queen Cu-Co-Ag-Zn-Mo-Bi-Se-In-Cd-Ga+As-Sb Hydrothermally altered basaltic and volcano- sedimentary basement rocks Lantana Hydrothermal event associated with a mafic Cu-Co-Ag-Zn-As-Au-Sb-Mo-Bi-Se-In-
Slide 14: Mt Gilmore Trend – Strong Multi-Element Association
Mt Gilmore Trend – Strong Multi-Element Association COPPER COBALT SILVER Soil Sampling Assay Images Geochemical images generated from a dataset only containing ME-MS61 assays, subset on a 200m x 200m grid with image using a north-eastern sun-angle 14 Cobalt data is further subset to exclude soils po
Slide 15: Mt Gilmore Project – Overview
Mt Gilmore Project – Overview UNIQUE - EARLY STAGE - DISTRICT-SCALE EXPLORATION PLAY Surface mineralisation supports evidence of a large hydrothermal system at Mt Gilmore Indicative of “Intrusive Related” or “Replacement” style of deposits The size of the geochemical anomalies are substantive
Slide 16: Corazon – Way Forward
Corazon – Way Forward RIGHT COMMODITIES – PERFECT TIMING Mt Gilmore Copper-Cobalt-Silver-Gold Sulphide Project Early stage, district scale copper play with strong cobalt signature Several compelling targets for copper-cobalt sulphide deposits Geophysics to test large geochemical anomalies fo
Slide 17: Appendix: Lynn Lake Project
Appendix LYNN LAKE PROJECT Nickel-Copper-Cobalt Sulphide Canada LEVEL 1, 329 HAY ST, SUBIACO WA 6008 | PO BOX 8187, SUBIACO EAST WA 6008 | +61(8) 6142 6366 | INFO@CORAZON.COM.AU | WWW.CORAZON.COM.AU 1 17
Slide 18: Lynn Lake Project
Lynn Lake Project Manitoba Province – Canada PROJECT SUMMARY - CLASS 1 NICKEL - HOT COMMODITY Project focused on key demand-driven commodities for booming rechargeable battery sector Strategically located in North America Long-lived proven historical mining centre – closed in 1976 Excellent
Slide 19: Lynn Lake Nickel-Copper-Cobalt Sulphide Project
Lynn Lake Nickel-Copper-Cobalt Sulphide Project PROLIFIC HISTORICAL MINING CENTRE 100% controlled(1) by Corazon Renewed focus on Big system – multiple orebodies Lynn Lake’s Excellent infrastructure – power, water & township development potential DEVELOPMENT POTENTIAL New JORC Resources (ASX
Slide 20: Lynn Lake – New High-Value Concentrate
Lynn Lake – New High-Value Concentrate EXCEPTIONAL METALLURGICAL RESULTS A “GAME-CHANGER” FOR THE PROJECT For the first time – separate high-value Copper and Nickel/Cobalt concentrates have been produced Excellent grades and recoveries – on-going work will deliver improvements Nickel concentra
Slide 21: Lynn Lake Nickel-Copper-Cobalt Sulphide Project
Lynn Lake Nickel-Copper-Cobalt Sulphide Project HISTORICAL PRODUCTION MODERN DISCOVERIES A Plug Mine Tango - 2010 18Mt @ 0.88% Ni + 0.47% Cu 17m @ 0.6% Ni & 0.30% Cu EL Plug Mine A Plug Disco - 2008 1.9Mt @ 2.4% Ni + 1.15% Cu 18m @ 1.5% Ni, 0.70% Cu & EL Plug 0.04 %Co JORC RESOURCE EL Deeps - 2011 (
Slide 22: Lynn Lake – Extensive Resource Base & Potential
Lynn Lake – Extensive Resource Base & Potential LARGE RESOURCE – FOUNDATION FOR DEVELOPMENT A further 11 deposits yet to be reviewed for remnant resources Modern discoveries within mining centre prove additional potential JORC Base Cut Tonnes Tonnes Ni % Cu % Co % Category Ni % Ni Cu Co Indicate
Slide 23: Lynn Lake Exploration – In the Shadow of a Headframe
Lynn Lake Exploration – In the Shadow of a Headframe ONE OF THE BEST NICKEL SULPHIDE EXPLORATION PLAYS IN NORTH AMERICA Abundant drill defined mineralisation within Mining Centre outside of resource area Drilling at FLC - 2017 11 deposits yet to be reviewed for remnant tonnages Regionally, num
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 1, 329 Hay St, SUBIACO WA 6008 PO Box 8187, SUBIACO EAST WA 6008 +61(8) 6142 6366 info@corazon.com.au www.corazon.com.au 1 25