|Asset||Lynn Lake (Nickel)|
|Interest||2.0% Gross Proceeds Royalty (post initial capital recovery)|
|Commodity||Nickel, Copper, Cobalt|
|Counterparty||Corazón Mining Ltd.|
The Lynn Lake Mining Centre in Manitoba, Canada, is a historically significant mining center with large JORC compliant resources and supporting infrastructure. Corazon Mining Ltd. (“Corazon”) has consolidated the entire Lynn Lake nickel camp and its extensive historical datasets, which includes more than 75 years of exploration and 24 years of mining information.
The nickel-copper-cobalt sulphide deposits at Lynn Lake were mined continuously between 1954 and 1976 (in that time processing more than 20 million tonnes), and it was one of Canada’s major nickel mining centers of its time. Substantial resources remain and further extensive drill defined mineralisation also exists within the mining center. These areas outline targets with the potential for further discoveries, which would underpin a potentially sizable resource base at Lynn Lake.
As part of Corazon’s process of defining Lynn Lake’s development potential, new quality resource estimations have been completed and modern metallurgy has been undertaken. The metallurgical work has delivered a major technical breakthrough, for the first time in Lynn Lake’s history producing separate high-value and high-purity nickel and copper concentrates (refer to ASX announcements dated 11th and 12th February 2019). This work will underpin the commencement of a scoping study into the potential redevelopment of Lynn Lake. The royalty covers part of the Lynn Lake nickel-copper-cobalt deposit.
For more information on the Lynn Lake (Nickel) project, please visit Corazon’s website at https://corazon.com.au/projects/canada/lynn-lake/