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CORAZON MINING LIMITED Regulatory Filings 2006
64747_rns_2006-09-05_4d7dbe9f-83d0-4740-91bf-cda16e6fceb6.pdf
Regulatory Filings
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Level 2, 22 Oxford Close WEST LEEDERVILLE WA 6872 T: +61 8 9381 1436 F: +61 8 9381 1968 PO 80x 1681 WEST PERTH WA 6872 www.gravnicmetals.com.su
ASX Release
6 September 2006
EXCELLENT RESULTS FROM DRILLING, IGLOO COPPER OXIDE DEPOSIT
Assay results have now been received for the 10 vertical diamond drill holes each drilled to about 50m depth in and around the Igloo copper oxide deposit at the Quartz Circle project near Nullagine. Better results included;
- 26m @ 2.40% Cu
- 5m @ 5.52% Cu, 9.03 g/t Au and 244 ppm Ag
Six of the holes intersected secondary copper mineralisation whilst one hole, IG 5, intersected a zone of primary chalcopyrite. Results are shown in the following table:
| Hole ID | Depth | Interval | Cu 96 | Au g/t | Ag g/t |
|---|---|---|---|---|---|
| IG 3 | 28-30m | 2m | 1.34 | ||
| $31 - 32m$ | 2m | 1.55 | |||
| IG 5 | 22-23m | 1 m | 1.17 | 0.21 | 88 |
| 42-47m | 5m | $5.52*$ | 9.03 | 244 | |
| IG 7 | $21 - 22m$ | 1 m | 1.36 | 21 | |
| $25 - 27m$ | 2m | 3.96 | 62 | ||
| $30 - 44m$ | 14m | 2.20 | |||
| IG 8 | $22 - 48m$ | 26m | 2.40 | ||
| IG 9 | $25 - 31m$ | 6m | 2.06 | ||
| $33 - 35m$ | 2m | 2.44 | |||
| 41-45m | 4 m | 1.56 | |||
| IG 10 | $27 - 28m$ | 1 m | 1.25 | ||
| $32 - 35m$ | 3 m | 1.20 |
| DIAMOND DRILLING. IGLOO PROSPECT | |
|---|---|
* primary chalcopyrite
These results will be combined with previous historic drilling results to estimate a resource for the Igloo deposit. Most of the above results pertain to the secondary copper mineralisation which is represented by chalcocite, native copper and malachite. Drill core samples will be submitted to a laboratory for preliminary metallurgical testing.
As recently announced, the interval 42-47m in hole IG 5 contains spectacular chalcopyrite mineralisation. The intercept recorded a maximum value of 13.5% Cu over 1m from 45-46m. This 5m interval of primary copper sulphide is accompanied by very high gold and silver values, similar to historic hole QCRC 17, drilled in 1992, also within the Igloo deposit:
QCRC 17 27-30m 3m @ 47% Cu (in chalcopyrite), 1.5 g/t Au and 298 g/t Ag
These chalcopyrite-Au-Ag intervals at Igloo strongly resemble historic results from a prospect known as Miller's Vein about 250m to the south of the Igloo deposit:
| Hole ID | Depth | Interval | Cu % | Au g/t | Ag g/t |
|---|---|---|---|---|---|
| QCRC 43 | $26 - 30m$ | 4m | 93 | 13.3 | -51 |
| QCRC 45 | $56 - 60m$ | 4m | 1.96 | 11.6 | 32 |
| $\mid$ QCRC 46. | $42 - 44m$ | 2m | 0.46 | ാ | 8 |
Historic results from Millers Vein Prospect
RC holes IG 12 to IG 15 were recently drilled to follow up on the chalcopyrite discovered in IG 5. Visible chalcopyrite was noted in two holes; IG 12 over 10m and IG 14 over two 2m intervals. These holes were inclined towards IG 5 and the combined data may enable the trend of the mineralization to be modelled. Assays are awaited.
Given the high grade of the mineralization, a more extensive drilling program is proposed to seek a continuation of this rich chalcopyrite-Au-Ag mineralization in the zone between the Igloo and Millers Vein prospects.
Ron Thom Managing Director
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves was compiled by R Thom, who is a Member of the AusIMM. R Thom has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. R Thom, who is an employee of Graynic Metals Ltd, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
