Corazon Mining has lodged a key strategic tenement application to expand its Two Pools gold project in Western Australia's Gascoyne region, targeting an interpreted undercover extension of the prospective greenstone belt that is known to host its Two Pools mineralisation.
Two Pools, recently acquired by Corazon as part of the company’s pivot to high-grade WA gold exploration, features historical near-surface high-grade intercepts, with one hole delivering 12m at 8.89g/t gold from 79m including 3m at 34.25g/t gold from 80m.
The 50 square kilometre exploration licence application lies immediately northeast of and is contiguous with the company’s existing project area. It was identified following a detailed geological and structural review by geological consultants to the company, Terra Resources.
Terra’s analysis integrated regional geophysical and geological datasets to map geology beneath shallow surface cover, resulting in the identification of a significant potential northeasterly extension of the Two Pools greenstone sequence.
Other supporting evidence comprises anomalous gold results from soil and rock chip sampling along strike, including from within the new area.
The recent interpretation outlines a folded and thrusted greenstone sequence intersected by later north-northeast trending faults which are more extensive than previously recognised in the Plutonic-Marymia region.
The structural setting mirrors other major gold-hosting systems in the belt, including Catalyst Metals' nearby Trident deposit and its more than 7.5 million ounce Plutonic gold mine.
The new application area has seen limited to no modern drilling and offers a substantial untested opportunity in the highly endowed terrain.
Corazon Mining managing director Simon Coyle said: “We are extremely pleased with the results of this historical data review and geological interpretation, which has confirmed our belief in the significant potential of the Two Pools project. This low-cost exercise has immediately generated multiple high-priority, walk-up drill targets that have seen little to no modern exploration.”
The newly expanded project footprint enhances the potential for Corazon to unveil a new zone of mineralisation along the northwesterly plunge of key mineralised corridors.
Next steps for the company will include compilation of previous data across the greater project area, before planning drilling to probe potential extensions to the known Two Pools mineralisation.
A new gravity survey will also better define the local greenstones under shallow granite and Proterozoic cover.
The work will assist in identifying the nature of the project-scale granite/Proterozoic/greenstone contacts, their orientation and structural interrelationships, supported by further interpretation of available multielement geochemical data
Upon tenement grant, systematic exploration by the company to identify high-priority targets will be followed up by the first drilling program in the project area.
Corazon is embarking on the requisite heritage surveys, while other planning and on-ground work is also in train, backed by its A$2m placement funding in August for exploration and working capital.
The extended Two Pools project aligns with Corazon's strategy under new managing director Simon Coyle to unlock value from one of WA's more significant gold districts.
Corazon is positioning for potentially transformative gold discoveries at Two Pools, taking advantage of its first-mover structural insights to drill-test a major new greenstone extension in a proven multi-million-ounce district.
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By Doug Bright
