Corazon Mining Limited (ASX: CZN) (Corazon or Company) is pleased to announce that results of a recently completed soil sampling program at the Miriam Nickel Project (Miriam or Project) in the Eastern Goldfields region of Western Australia have expanded the lithium target zone to approximately 1.6 kilometres in length.
Corazon reported the discovery of spodumene (lithium mineral) bearing pegmatite along with widespread indicators of pegmatite in a field mapping program at the Miriam. This discovery was verified using Raman Spectroscopy (ASX announcements 8 December and 15 December 2022), with laboratory analysis returning results up to 1.85% Li2O from partially weathered pegmatite (ASX announcement 17 January 2023).
As a next step in the systematic exploration of the Project's lithium potential, a soil sampling program has been completed, which was designed to define the extents of the spodumene-rich pegmatite for first pass drill testing. The program identified a large lithium geochemical anomaly of approximately 1.6 kilometres in strike and up to 300 metres in width; with a second trend of approximately 600 metres also defined. The soil assays returned a peak result of 99 ppm lithium (Li), with the results close to the spodumene rich outcrop returning grades between 22.1 ppm and 76.4 ppm lithium. Corazon plans to conduct a shallow drilling program to test the lithium anomalism, in parallel with its aggressive, ongoing nickel sulphide exploration program at the Miriam nickel sulphide trend to the west.
Key Highlights
Exploration around a spodumene (lithium) bearing pegmatite discovery at the Miriam Project in the Eastern Goldfields of Western Australia indicates a large target for drilling.
Weathered (depleted) rock samples returning up to 1.85% Li2O and detailed geochemical soil sampling, has defined a main target of approximately 1.6 kilometres in strike, and a second trend of about 600 metres, linking into the main trend.
Work program approvals for drilling of these lithium trends, along with drilling to test the Miriam nickel sulphide trend targets, are being submitted.
An update on activities at the Company's flagship asset, the Lynn Lake Nickel Sulphide Project, is expected to be provided soon Soil Sampling Results Extends Lithium Target Zone
The lithium discovery outcrop area at the Miriam Project is a small exposure of pegmatite within an old gold prospecting trench. The thin soil cover present in the area prevents the effective assessment of the size and extent of this pegmatite intrusion. A soil sampling program was undertaken to better define the spodumene-rich pegmatite for drilling. Corazon's soil sampling program comprised approximately 636 soil samples taken on a 100 by 40 metre grid pattern over the area around the outcropping spodumene-rich pegmatite, and other areas of interest showing pegmatitic float material. The results show a well defined lithium anomaly associated with the outcropping spodumene-rich pegmatite, providing a target for the initial round of drilling. A second trend is also defined by the geochemical results, in the central north of the area tested. Pegmatitic float material in this area trends east-northeast and intersects with the northern part of the main anomaly.
About the Miriam Project
The Miriam Project is located approximately 10 kilometres south-southwest of Coolgardie on a trend of ultramafics best identified by the Miriam and Nepean nickel deposits (Auroch Minerals, ASX: AOU). The Miriam Project covers an area of about 6 kilometres by 1.5 kilometers and comprises five Prospecting Licences (P15/6135 to P15/6139 inclusive). Corazon has acquired the rights to 100% of the Miriam Project (ASX announcement 22 April 2022). In 1969, Anaconda Australia Limited discovered the Miriam Deposit, located within the Project, and during the late 1960s and early 1970s conducted most of the known nickel exploration. This work defined the core of the Miriam Deposit over a strike of about 150 meters and to a depth of at least 150 metres below surface. In places, subsequent drilling extended the drilled depth to about 300 metres below surface.
About Corazon
Corazon Mining Limited (ASX: CZN) is an Australian resource company with projects in Australia and Canada. The commodity mix of Corazon's projects place it in a strong position to take advantage of the growing demand for metals critically required for the booming rechargeable battery sector. In Canada, Corazon has consolidated the entire historical Lynn Lake Nickel Copper Cobalt Mining Centre (Lynn Lake) in the province of Manitoba. It is the first time Lynn Lake has been under the control of one company since mine closure in 1976. Lynn Lake hosts a large JORC nickel-copper-cobalt resource and presents Corazon with a major development opportunity that is becoming increasingly prospective in line with recent increases in the value of both nickel and cobalt metals, and their expected strong demand outlooks associated with their core use in the emerging global electric vehicle industry. In Australia, Corazon is exploring the Miriam Nickel-Copper Sulphide Project (Miriam) in Western Australia and the Mt Gilmore Cobalt-Copper-Gold Sulphide Project (Mt Gilmore) in New South Wales. Miriam is a highly prospective nickel sulphide exploration project, representing a strategic addition to Corazon's portfolio of nickel sulphide assets. Recent exploration by Corazon has also identified the projects potential for spodumene (lithium) bearing pegmatites (ASX announcement 17 January 2023). Mt Gilmore is centered on a regionally substantive hydrothermal system with extensive copper, cobalt, silver and gold anomalism, including high-grade rock chip samples over a strike of more than twenty (20) kilometres. Mt Gilmore also hosts the Cobalt Ridge Deposit - a unique high-grade cobalt-dominant sulphide deposit.
Contact:
Tel: +61 (08) 6166 6361
Competent Persons Statement
The information in this report that relates to lithium Exploration Results and Targets is based on information compiled by Dr Ben Li, Member AIG and an employee of Corazon Mining Limited. Dr Li has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr Li consents to the inclusion in the report of the matters based on this information in the form and context in which it appears. 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 to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Smith consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.
CORAZON MINING LIMITED 
