CORAZON MINING LIMITED — Regulatory Filings 2013

Sep 19, 2013

ASX ANNOUNCEMENT

20 September 2013

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The Manager - Company’s Announcements

Australian Securities Exchange

NEXT PHASE OF EXPLORATION TO COMMENCE AT TOP UP RISE PROJECT

Highlights:

• Corazon to recommence exploration at TUR Project in Western Australia

• VTEM aerial geophysical survey proposed to commence next week

• Drill rig is on site and ready for start-up

• Geophysics (VTEM) will be used to target conductive units, including massive sulphides

• Proposed exploration programme is fully funded

Corazon Mining Limited (ASX: CZN) (“Corazon” or “the Company”) is pleased to announce the imminent recommencement of high impact exploration at the Top Up Rise Project (“TUR”), located in the Gibson Desert region of Western Australia.

The results from the first phase of drilling suggest that TUR’s large gravity anomaly has a coincidental geochemical anomaly, including a robust base and precious metal association. Extensive low tenor sulphide mineralisation, including copper sulphide, has been intersected in all holes drilled to date (Figure 1) over a large area.

Corazon’s managing director, Mr Brett Smith stated: “The results from the first round of drilling added enormously to the prospectivity of Corazon’s TUR Project. To date, we have drilled in only four areas, within what is a very large geophysical anomaly, and have intersected sulphide mineralisation in each hole. We are looking forward to the next phase of full-funded exploration, which should commence next week with geophysics and drilling.”

Drilling to Recommence

Corazon has initiated the recommencement of exploration at TUR with the intention of commencing drilling as soon as possible. The drill rig has remained on site since the completion of the initial drilling programme, and drilling crews plus additional equipment now being organised and mobilised to the TUR site.

Drill targets are being reviewed, incorporating information acquired during the maiden drilling programme.

CAPITAL STRUCTURE		BOARD OF DIRECTORS	BOARD OF DIRECTORS		CONTACT US
Market cap. @ 3.1 cps	A$11M	Clive Jones	Non-executive Chairman		P: +61 (8) 6142 6366
Ordinary shares	355.6M	Brett Smith		Managing Director	M: PO Box 8187, Subiaco East WA 6008
Options	38M	Jonathan Downes		Director	E: info@corazon.com.au
ASX: CZN		Adrian Byass		Director	W: www.corazon.com.au

ASX ANNOUNCEMENT

20 September 2013

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The process of prioritising drill targets is ongoing, and will be further refined as more data becomes available via ongoing exploration. Corazon has two main objectives for the upcoming drilling programme:

• 1) To continue to test the TUR gravity anomaly, which remains unexplained based on the types and density of rocks intersected to date; and

• 2) To test, for the first time, areas of structural weakness and other fault structures that may be prospective as fluid pathways for base and precious metals mineralisation.

In addition, the nickel sulphide potential of TUR will be targeted for the first time pursuant to the findings of the VTEM survey.

VTEM to Commence Next Week

Corazon plans to utilise additional geophysical techniques in the upcoming programme of work. This will include an aerial Versatile Time Domain Electromagnetic (VTEM) survey. The Company has previously used VTEM at its Lynn Lake Project in Canada, where it was successful in identifying both massive sulphide bodies (base and precious metals) and the conductive intrusive units which host nickel-copper sulphide deposits.

Given the identification of zones of massive sulphides during first phase drilling at TUR, and the nature of the ground conditions, it is anticipated that VTEM will be an effective exploration tool.

It is considered that the results of the VTEM survey will be influential in shaping Corazon’s targeting strategy during this upcoming phase of drilling.

Additional Heritage Clearances

Corazon has already acquired heritage clearances and drilling approval for eleven target areas within the TUR anomaly. Four of these areas were tested in the initial drilling programme. It is possible that the VTEM survey will identify additional targets outside the area currently subject to heritages clearances. With this in mind, preparation is underway for a further heritage clearance survey scheduled to be conducted in October.

Background on the Top Up Rise Project

The TUR Project is defined by a large geophysical anomaly covering an area of approximately 10km by 6km. Drilling to date has been designed to test this gravity anomaly and has not targeted areas of structural weaknesses or potential pathways (for metal rich fluids). Nonetheless, sulphide mineralisation within basement rocks has been observed throughout all holes drilled to date.

Exploration by Corazon at the TUR Project has identified a coincident geochemical anomaly associated with the geophysical anomaly . Importantly, there is a precious and base metal association between copper, lead, zinc, cadmium, silver and gold . Corazon has completed drilling in only four areas at TUR (Figure 1), which are up to several kilometres apart from each other, by virtue of the significant size of the gravity anomaly.

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ASX ANNOUNCEMENT

20 September 2013

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The source of the TUR gravity anomaly remains unexplained. The observed gravity anomaly cannot be accounted for purely from the type of rocks intersected in the drilling completed to date. Although it is accepted that the density of these materials may be increased via significant and substantial alteration and/or mineralisation, we have yet to intersect such rock in a scale substantial enough to explain the anomaly.

Initial interrogation of assay results received have identified the possibility of both a mafic and granite (porphyry) source for the mineralising fluids.

Mafic host units intersected in the drilling conducted to date have included amphibolite, gabbro and late dolerite dykes. All are variably mineralised, altered and deformed. Preliminary petrology of one intrusive mafic lithology (gabbro) intersected in DD003 has identified the lithology as a Troctolite. A Troctolite is a rare differentiated mafic/ultramafic rock which is considered an important host unit at the large Voisey’s Bay nickel deposit in Canada and is found in other large layered mafic terrains such as the Bushveld Igneous Province in South Africa.

Petrological analysis of sulphides within the Troctolite at TUR has identified lamellae of pentlandite (nickel sulphide) within pyrrhotite. The identification of the Troctolite and pentlandite is significant in that it opens up the possibility of nickel-copper sulphide deposits within differentiated mafic rocks as a target deposit, as separate to the mineralisation observed to date.

The granitic rocks intersected to date are extremely altered and deformed and as such are difficult to identify. These units appear to host lesser quantities of sulphide mineralisation than the altered metasediments, however it is common for quartz veining (within or marginal to these units) to be mineralised.

Ends.

For further information visit www.corazon.com.au or contact:

Brett Smith James Moses Managing Director Media and Investor Relations Corazon Mining Limited Mandate Corporate P: +61 (8) 6142 6366 M: +61 (0) 420 991 574 E: info@corazon.com.au E: james@mandatecorporate.com.au

Disclosure Statements and Important Information

Competent Persons 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 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. 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.

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ASX ANNOUNCEMENT

20 September 2013

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