Corazon Mining Limited says new drilling targets have been identified for its Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada, Kallanish reports.

The Australia-based company calls its latest geophysical survey a potential “game-changer” and reports that the survey shows multiple new conductive and magnetic anomalies at the Lynn Lake Mining Centre. The company says it is completing detailed planning for its next phase of drilling that is scheduled to begin by year-end 2020, pending favorable Covid-19 movement restrictions in Canada.

The company cites the results from the 430 line-kilometre Mobile MT airborne geophysical survey over a large portion of the Lynn Lake tract in its search for large sulphide deposits as prices of nickel and cobalt have recently increased due to the growing electric vehicle market. It is a new and innovative process to identify sulphide mineralisation, Corazon says. The technique appears to have worked where other survey methods failed at Lynn Lake in northwest Manitoba, it says.

A number of new potential conductors were identified in the survey, and multiple additional new geophysical conductors are still being analyzed, it says. Identified priority targets are previously untested and interpreted as magma conduits, it said. The company had announced the survey results last September and October.

It has focused its exploration in the Fraser Lake Complex within the Lynn Lake complex. The source or centre of the mineralized system has not yet been identified

The nickel-copper-cobalt deposits at Lynn Lake were mined for 24 years with more than 20 million tonnes being mined in that time.

Lynn Lake remains one of the best nickel sulphide brownfield/exploration plays in North America and the company has found several new areas of mineralisation, Corazon says.

The company has consolidated its ownership and Lynn Lake is controlled by one company for the first time since the mine closed in 1976.

Lynn Lake is about 1,071 km from Winnipeg, Manitoba.

The company also has an 80% stake in the Mount Gilmore cobalt-copper-gold sulphide project in New South Wales in Australia.