Corazon Mining Limited · ASX:CZN

Corazon Mining — Investor Presentation (October 2019)

27 slides from Corazon Mining's investor presentation, Oct 16, 2019

  1. Slide 1: Company Presentation

    Company Presentation LEVEL 2, 38 Richardson St, West Perth, WA 6005 | PO BOX 8187, SUBIACO EAST WA 6008 | +61(8) 6142 6366 | INFO@CORAZON.COM.AU | WWW.CORAZON.COM.AU 1 1

  2. 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

  3. Slide 3: Corazon Mining Limited – Corporate Overview

    Corazon Mining Limited – Corporate Overview ISSUED QUOTED SHARE MARKET CASH(1) ASX CODE SHARES(1) OPTIONS(2) PRICE CAP. (Sept 19) CZN 2.04b 188m $0.003 $6.12m $1.2m Board of Directors Shareholders Terry Streeter Non Executive Chairman Top 20 Shareholders 38% Brett Smith Managing Director Number of S

  4. 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

  5. Slide 5: Current Strategy

    Current Strategy Lynn Lake Nickel-Copper-Cobalt Increase in Nickel price - Lynn Lake becomes the major focus for CZN  Near-mine exploration and project development work Mt Gilmore Copper-Cobalt-Gold Low Cobalt price – Cobalt Ridge resource definition work on hold Exploration Strategy  Regional exp

  6. Slide 6: Corazon Consolidates the Entire Lynn Lake Nickel Camp

    Corazon Consolidates the Entire Lynn Lake Nickel Camp for the First Time Since Mine Closure in 1976 NICKEL EXPLORERS HAVE STRUGGLED FOR MARKET TRACTION AGAINST FALLING METAL PRICES Discovery - EL Deeps 23.75 m @ 3.34% Ni & 1.54% Cu EL Discovery Deepest Hole 44.75m @ 1.55%Ni & 0.65%Cu Nickel Price Ch

  7. Slide 7: Lynn Lake – First World Location

    Lynn Lake – First World Location LOGISTICALLY EASY EXPLORATION  All year access to mine area  Excellent infrastructure  Township, shops, hospital  Abundant hydro-electricity and water  Sealed Airstrip  Main road access to Thompson (major Vale nickel mining camp) ~ 320km  Partially used rail a

  8. Slide 8: Lynn Lake – 5th Largest Ni Producing Area in Canada

    Lynn Lake – 5th Largest Ni Producing Area in Canada “EL Plug” Mine – Satellite Deposit PROLIFIC HISTORICAL MINING CAMP  100% controlled(1) by Corazon Great foundation of resources and  Big system – multiple orebodies 250m infrastructure  Excellent infrastructure – power, water & township DEVELOPM

  9. Slide 9: Lynn Lake – Unique Geological Characteristics

    Lynn Lake – Unique Geological Characteristics Within the MAJOR MANTLE La Ronge – Lynn Lake Greenstone Belt PLUMBING SYSTEM  Lynn Lake is the regional centre of magmatic activity within the La Ronge – Lynn Lake Greenstone Belt  Circular to elliptical form of the intrusions, punctuated with smaller

  10. Slide 10: Lynn Lake – Endowment

    Lynn Lake – Endowment Prolific Nickel Producing Camp Area of Historical Past Production 1954-1976 Mining  A Plug - 18Mt @0.88% Ni + 0.47%Cu  EL Plug - 1.9Mt @ 2.4% Ni + 1.15% Cu JORC Indicated + Inferred Resources*  15.3Mt @ 0.72% Ni, 0.34%Cu, 0.034% Co (0.5% Ni base cut)  5.18Mt @ 1.00% Ni, 0.4

  11. Slide 11: Lynn Lake JORC Resource Estimation

    Lynn Lake JORC Resource Estimation LARGE TONNAGE – LOW COST PRODUCER  Average deposit 80m-120m strike and 30m-50m wide  +20 defined deposits within the Mining Centre  Underground development to approximately 1,100 metres below surface Base Cut Tonnes Deposit Tonnes Ni(%) Cu(%) Co(%) Ni% Ni Cu Co

  12. Slide 12: New Metallurgical Results a “Game-Changer” for the Project

    New Metallurgical Results a “Game-Changer” for the Project SIMPLE MODERN FLOTATION PROCESSING DELIVERS SPECTACULAR RESULTS  For the first time – separate high-value Copper and Nickel/Cobalt concentrates have been produced  Exceptional grades and recoveries Recent testwork indicates +85%  Nickel c

  13. Slide 13: Lynn Lake Near Mine - Proven Prospectivity

    Lynn Lake Near Mine - Proven Prospectivity OLD DATA + NEW PROCESSES & UNDERSTANDING = MAKING DISCOVERIES  Abundant drill defined mineralisation within Mining Centre outside of resource area  11 deposits yet to be reviewed for remnant tonnages  Targeting using modern geophysical processing techniq

  14. Slide 14: Near Mine Target Generation

    Near Mine Target Generation INTEGRATION OF PAST AND MODERN EXPLORATION AND MINING DATA IDENTIFIES NEW AREAS FOR DRILLING Untested Targets (red)  Priority target generation work underway  6,000 historical drill holes added to database provide new information Mine Stopes Disco Discovery  New IP sur

  15. Slide 15: Regional Target Generation

    EL Deposit Regional Target Generation 1947 Discovery Hole 183m @ 4.7 %Ni & 1.7 %Cu OLD DATA + NEW PROCESSES & UNDERSTANDING = MAKING DISCOVERIES  Modern exploration techniques and a new understanding for the formation of these deposits has identified multiple Lynn Lake style targets  Difficult ter

  16. Slide 16: Fraser Lake Complex – Matrix Trend IP Anomaly

    Fraser Lake Complex – Matrix Trend IP Anomaly EXTENSIVE MAGMATIC SULPHIDES COINCIDENT WITH IP CHARGEABILITY HIGH  ~1.8km IP anomaly coincident with multiple stacked sulphide-rich horizontal magmatic Hole #14 pulses/flows 56.1m @ 0.43% Ni & 0.21% Cu From 258m Hole #16 27m @ 0.37% Ni & 0.16% Cu From

  17. Slide 17: Lynn Lake Project – Way Forward

    Lynn Lake Project – Way Forward RIGHT COMMODITIES – PERFECT TIMING  Lynn Lake Nickel-Copper-Cobalt Sulphide Project  One of the best nickel exploration plays in North America  Market support and sentiment for nickel sulphide projects is growing  New metallurgical results significantly enhances t

  18. Slide 18: 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

  19. Slide 19: 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

  20. Slide 20: Mt Gilmore Project – New Copper Trend

    Geology + Copper in Soils Image Mt Gilmore Project – New Copper Trend COBALT RIDGE – ONE PROSPECT WITHIN A LARGE REGIONAL COPPER TREND  Soil sampling has proven to be an effective test of basement geochemistry  DISCOVERY - “district scale” geochemical anomaly coincident with basement of the Mt Gil

  21. Slide 21: 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

  22. Slide 22: Mt Gilmore Project – High Grade Cu

    Geology + Copper 21.6 %Cu 361 ppmAg Mt Gilmore Project – High Grade Cu 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 0.11

  23. Slide 23: Mt Gilmore Project – Recent Results

    Mt Gilmore Project – Recent Results LARGE COINCIDENT GEOCHEMICAL & GEOPHYSICAL ANOMALIES Geology + Copper Outline of IP in Soils Image Ground Magnetic Chargeability High Pluck Image over 7.5 %Cu Aeromagnetic 1.29 g/tAu Image Busy Bee Cu Lode Gem 16.3 %Cu Fine Flower Cu 238 g/tAg Whiley’s Lode 12.8 %

  24. Slide 24: Mt Gilmore Project – Recent Results

    Mt Gilmore Project – Recent Results LARGE COINCIDENT GEOCHEMICAL & GEOPHYSICAL ANOMALIES Outline of IP Ground Magnetic Chargeability High Pluck Image over 7.5 %Cu Aeromagnetic 1.29 g/tAu Image IP Chargeability Cross-Sections Busy Bee Cu Lode Gem 16.3 %Cu Fine Flower Cu 238 g/tAg Whiley’s Lode 12.8 %

  25. Slide 25: 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  Market support and sentiment for nickel sulphide projects is growing  New metallurgical results significantly enhances this develo

  26. Slide 26: 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

  27. Slide 27: Contact

    CONTACT Level 2, 38 Richardson Street, WEST PERTH WA 6008 PO Box 8187, SUBIACO EAST WA 6008 +61(8) 6142 6366 info@corazon.com.au www.corazon.com.au 1 27

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