Corporate News Report – Corazon Mining Limited

Corazon Mining Limited completed the acquisition of its Chalice Gold Project in July, thereby adding a substantial JORC‑2012 mineral resource to its Western Australian portfolio. The Chalice site, located in the Higginsville district, now reports a declared resource of approximately 190 000 ounces at an average grade of 2.7 g/t gold, based on a 1.3 g/t cut‑off. The company has launched a 7 500 m, 50‑hole reverse‑circulation drilling programme aimed at extending the resource south of the existing open pit and testing near‑surface extensions identified in a recent data review. Early assay results released in October confirm broad zones of gold mineralisation several hundred metres below the surface, supporting the continuation of the drilling programme.

In parallel, Corazon has defined maiden exploration targets for its Two Pools Gold Project in the Plutonic‑Marymia greenstone belt. The targets, spanning roughly 1.4–2.1 Mt at grades of 1.6–1.9 g/t gold, are conceptually based on an extensive historical drilling database and a recent geological reinterpretation that identified a long greenstone belt previously mapped as granite. A planned 5 000 m reverse‑circulation drilling programme will seek to infill current spacing, evaluate target extensions, and generate data that may underpin a future mineral resource estimate.

The Feather Cap Gold Project, situated in the Bryah‑Padbury Basin, has also progressed. A maiden reverse‑circulation drilling programme at the Wembley prospect, completed in August, returned high‑grade intercepts, including several metres at 10 g/t gold. Corazon exercised an option to acquire an 80 % interest in the project in early October, moving the venture toward majority ownership.

Corporate developments include the appointment of a new general manager for geology and a non‑executive chair, alongside the settlement of a significant placement that funded the Chalice acquisition and subsequent exploration activities. Financially, the company reported cash reserves of approximately A$7.3 million at quarter‑end, with exploration spending in the region of A$1.2 million.

Overall, Corazon’s recent activities have expanded its gold asset base, advanced drilling programmes at key projects, and reinforced its management structure, positioning the company for further exploration and potential resource development in Western Australia.