Major Land Grab for Gold in the Gascoyne
In a significant move for Western Australia's gold sector, Corazon Mining has launched a strategic push to substantially grow its foothold in the highly prospective Gascoyne region. The company has formally lodged an application for a new 50 square kilometre exploration tenement, aiming to expand its recently acquired Two Pools gold project.
The new ground, which sits immediately northeast of and directly adjacent to the existing project area, is no random claim. It targets a specific, interpreted undercover extension of the gold-hosting greenstone belt that is known to contain the Two Pools mineralisation itself.
Unlocking Value with Geological Insight
This strategic expansion is the direct result of a detailed geological and structural review conducted by the company's consultants, Terra Resources. By integrating regional geophysical and geological data, their analysis successfully mapped the hidden geology beneath shallow surface cover.
The work revealed what Corazon describes as a significant potential northeasterly extension of the Two Pools greenstone sequence. This newly identified corridor is understood to be a folded and thrusted system, intersected by extensive north-northeast trending faults.
This structural setting is critically important, as it mirrors other major gold deposits in the belt. The model is comparable to the nearby Trident deposit held by Catalyst Metals and the prolific Plutonic gold mine, which boasts a resource of more than 7.5 million ounces.
Further supporting the potential, the company points to anomalous gold results from historical soil and rock chip sampling along strike, with some of these encouraging signs coming from within the new application area itself.
High-Grade History and a Clear Path Forward
The core Two Pools project, which Corazon acquired as part of its strategic pivot to high-grade WA gold exploration, comes with compelling historical data. One standout drill intercept from the past hit 12 metres at 8.89 grams per tonne gold from 79 metres depth. Even more impressive, a section within that intercept returned a spectacular 3 metres at 34.25 g/t gold.
According to Corazon Managing Director Simon Coyle, the reinterpretation of this historical data has been a resounding success. "We are extremely pleased with the results... which has confirmed our belief in the significant potential of the Two Pools project," Mr Coyle said. "This low-cost exercise has immediately generated multiple high-priority, walk-up drill targets that have seen little to no modern exploration."
The company is not wasting any time. Its immediate next steps involve compiling all previous data across the enlarged project area. A new gravity survey is also planned to better define the greenstone rocks hiding under shallow granite and Proterozoic cover.
This work will be crucial for pinpointing the exact nature and orientation of the geological contacts before drilling begins. The expanded footprint significantly enhances the potential for Corazon to discover a new zone of mineralisation along the northwesterly plunge of key mineralised corridors.
Backed by a $2 million placement raised in August for exploration and working capital, Corazon is already advancing requisite heritage surveys and other planning work. Upon grant of the new tenement, systematic exploration will kick off, culminating in the first drilling program ever conducted in this newly defined, highly prospective area.
