Corazon Mining (ASX:CZN) defines maiden Two Pools Exploration Target
Corazon Mining has defined a maiden Exploration Target of 1.4 Mt to 2.15 Mt at 1.6 g/t to 1.9 g/t Au at its 100% owned Two Pools Gold Project in Western Australia.
The range contains approximately 72,000 oz to 132,000 oz of gold and represents the 1st quantification of the Two Pools gold system since the company acquired the project in August 2025.
Highlights
The Exploration Target covers the Northern, Central and Southern areas at Two Pools.
The Northern Target contains approximately 43,000 oz to 82,000 oz of gold within a range of 900,000 t to 1.5 Mt at 1.5 g/t to 1.7 g/t Au.
The Central and Southern Targets contain approximately 29,000 oz to 50,000 oz within a combined range of 500,000 t to 650,000 t at 1.8 g/t to 2.4 g/t Au.
Corazon proposes approximately 5,000 m of additional RC drilling over the next 6 months, subject to funding, access and regulatory approvals.
Drilling at the Feather Cap Gold Project has been completed, with assay results pending.
The Exploration Target was prepared using Corazon’s compiled historical and modern drilling database, assay results, 3 dimensional geological interpretation, interpreted mineralised wireframes and a preliminary exploration block model.
The company’s maiden diamond drilling program, completed in April 2026, comprised 4 holes for approximately 995 m and intersected gold mineralisation in all 4 holes.
The Northern Target is the most advanced area and has an interpreted spatial extent of approximately 540 m east to west, 350 m north to south and 190 m vertically.
Approximately 92 drillholes intersect the interpreted target, comprising approximately 61 RC holes, 28 RAB holes and 3 diamond holes.
RC and diamond intersections in the better drilled portions are commonly approximately 15 m to 30 m apart, with wider spacing towards the target margins and extensions.
Historical drilling at Northern includes 12 m at 8.89 g/t Au from 79 m, including 3 m at 34.25 g/t Au, and 18 m at 3.89 g/t Au from 83 m, including 4 m at 15.96 g/t Au.
Hole MRC691, which is excluded from the modelled Northern Target and located approximately 200 m away, returned 5 m at 3.61 g/t Au from 236 m, including 1 m at 16.29 g/t Au.
Corazon Mining Managing Director Simon Coyle said:
“The Northern Target remains open along strike and at depth.”
The Central and Southern Targets comprise 7 principal 3 dimensional mineralised domains interpreted from the available drilling.
Drill intersection spacing is variable and locally exceeds approximately 80 m to 100 m, while exploration drilling across the broader areas reaches spacing of up to approximately 200 m.
Corazon states that this spacing is insufficient to establish grade or geological continuity between intersections.
Two Pools covers approximately 537 km² within the Marymia Dome at the north western end of the Yilgarn Craton, approximately 850 km north north east of Perth.
Corazon’s geological reinterpretation identified a greenstone belt extending approximately 20 km along strike and between 3 km and 6 km in width within ground previously mapped as granite.
Diamond drilling completed in 2026 intersected an east to north east trending mafic to ultramafic amphibolite package and revised the interpreted orientation of the gold bearing veins to east west.
Gold mineralisation is associated with foliation parallel quartz carbonate veinlets, chlorite sericite alteration and 1% to 2% pyrite chalcopyrite.
The proposed RC program is designed to test strike and down dip extensions, reduce drill spacing, examine continuity between interpreted domains and provide additional information to assess whether Mineral Resource estimation may ultimately be appropriate.
The Exploration Target is conceptual in nature, insufficient exploration drilling has been conducted to estimate a Mineral Resource, and there is no certainty that further exploration will result in the estimation of a Mineral Resource.