PERTH (miningweekly.com) – ASX-listed Corazon Mining has earned an 80% interest in the Mount Gilmore copper/cobalt/gold project, in New South Wales, following a A$2-million exploration spend.
The company in 2016 struck an earn-in deal with vendor Providence Gold and Minerals, agreeing to spend A$2-million on exploration over a three-year period.
Corazon on Tuesday said that, under the terms of the agreement, the company would continue to act as project manager and would continue to sole fund activities at Mt Gilmore until a decision to mine.
The Mt Gilmore project has emerged as a core priority for Corazon, with exploration ongoing. The company told shareholders that the current phase of field work was focused on defining priority drill targets for the next phase of drilling.