Corazon Mining Ltd T.CZN

Primary Symbol: CRZNF

Metals & Mining Industrial Metals & Minerals

Corazon Mining Limited is an Australia-based mineral resource and exploration company. The Company is an explorer advancing the Lynn Lake Nickel-Copper-Cobalt Sulfide Project in Manitoba, Canada, as well as the Mt Gilmore cobalt-copper-gold (Mt Gilmore) and Miriam nickel Sulfide projects (Miriam) in Australia. The Lynn Lake Nickel-Copper-Cobalt Sulfide Project is a significant Class-1 nickel resource. The Mt Gilmore Project is located 35 kilometers from the city of Grafton in north-eastern New South Wales. The Company owns an 80% interest in Mt Gilmore. Mt Gilmore is focused on multiple rare, cobalt-rich sulfide deposits, similar to Cobalt Ridge. The Miriam comprises five Prospecting License applications (P15/6135 to P15/6139 inclusive) and is located approximately 10 kilometers south-southwest of Coolgardie on an ultramafic trend, which hosts Auroch Minerals’ Miriam and Nepean Nickel Deposits.

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Corazon Mining Ltd

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Post by bilarooon Aug 06, 2014 5:08pm

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Post# 22815370

Hopefull

In the press release, read the paragraph starting with "The net proceeds of the FT units......" The inferred resources need to be infill drilled in order for them to be converted to reserves. This is the underground exploration they are talking about. It is my understanding from the company directly that 80 % of the funds are for prairie creek drilling and the remainder for Newfy. Although, I suppose they could spend more or less on one or the other depending on results. So that is my interpretation. If you want clarification, call them. I'm sure they would be glad to fill you in. Let me know.

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