The drilling is probing a “very strong conductor” at Lynn Lake’s Fraser Lake Complex prospect where drill holes bored earlier this year by Corazon identified “extensive magmatic nickel-copper sulphide mineralisation”.
Smith and fellow director Clive Jones have spent PDAC week in Toronto promoting Lynn Lake to a Canadian market not familiar with goings-on at the project in recent times.
According to the two, they have got a good reception on the basis of the current exploration as well as Corazon holding the entire mining camp at Lynn Lake, including already established resources.
All attention at the moment though is on the Frazer Lake Complex drilling.
If there is success as dreamt-of, all manner of options would come into play including, most logically, a listing in Toronto and establishment of a Canadian team.
Corazon has already enjoyed a very strong 12 months, rising circa-1000% over the period on the back of both Lynn Lake’s ongoing emergence, and the apparently very promising Mount Gilmore project in New South Wales.
The beauty of Mount Gilmore versus much of the other cobalt that’s emerged on the back of the super strong commodity price action is its primary geological nature, making for potential stock standard, inexpensive processing.
Recent metallurgical testwork gave all the right signals.
A company with two promising projects and a comfortable cash position should keep Smith very warm in Manitoba over the weekend.
