How Corazon Mining’s Two Pools Acquisition Could Unlock WA Gold Riches
Corazon Mining has made a decisive pivot to high-grade gold exploration in Western Australia, acquiring the Two Pools Gold Project and securing an option on Feather Cap, backed by a A$2 million capital raise.
- Acquisition of 100% Two Pools Gold Project in Gascoyne region
- Secured 12-month option for 80% of Feather Cap Gold Project
- A$2 million placement completed to fund exploration and working capital
- Appointment of Simon Coyle as Managing Director to lead WA gold strategy
- Shareholder approval for Two Pools acquisition, placement, and 50-for-1 share consolidation
Strategic Shift to Western Australian Gold
Corazon Mining Ltd (ASX – CZN) has marked the September 2025 quarter as a transformational period, pivoting its focus squarely onto high-grade gold exploration in Western Australia. The company’s bold move centers on acquiring the Two Pools Gold Project and securing an option on the Feather Cap Gold Project, both situated in the highly prospective Gascoyne region.
The Two Pools Gold Project, located about 60km north of the operating Plutonic Gold Mine, lies within the Plutonic-Marymia greenstone belt, a geological setting known for multi-million-ounce gold deposits. Historical drilling results at Two Pools reveal multiple high-grade intercepts near surface, including standout assays such as 12 meters at 8.89 grams per tonne gold and 3 meters at an exceptional 34.35 grams per tonne.
Expanding Footprint and Exploration Upside
During the quarter, Corazon expanded its strategic landholding at Two Pools by lodging a new tenement application targeting the northwest plunge of a key mineralized corridor, enhancing the project’s exploration potential. Post-quarter, the company secured a 12-month option to acquire an 80% interest in the Feather Cap Gold Project, adjacent to Westgold’s Durack Deposit, further consolidating its presence in the region.
A detailed review of historical data at Feather Cap identified multiple high-priority, walk-up drill targets across three areas; Jigsaw/Durack East, Wembley, and Feather Cap itself; with impressive historical intercepts such as 35 meters at 1.47 grams per tonne gold and 7 meters at 6.21 grams per tonne.
Corporate Renewal and Capital Raising
Corazon’s strategic pivot is underpinned by significant corporate developments. Simon Coyle, a seasoned mining executive with deep experience in Western Australia, was appointed Managing Director to spearhead the company’s new gold strategy. The company also completed a A$2.0 million placement to sophisticated investors, providing essential funding for exploration activities and working capital.
Shareholders endorsed the Two Pools acquisition, the capital raise, and a 50-for-1 share consolidation at a general meeting held shortly after the quarter’s end, streamlining the company’s capital structure for future growth.
Looking Ahead – Exploration and Development Plans
Corazon is now focused on advancing its exploration programs. Immediate priorities include detailed geophysical analysis and reinterpretation of existing data at Two Pools, heritage surveys at Feather Cap, and planning for maiden drilling campaigns once tenements are granted. The company also continues to evaluate its broader Western Australian gold portfolio for further accretive opportunities.
Meanwhile, Corazon’s other projects in Canada and New South Wales remain on minimal activity as the company concentrates resources on its high-grade gold prospects in Western Australia.
Bottom Line?
Corazon’s decisive pivot to WA gold exploration sets the stage for a critical drilling phase that could redefine its growth trajectory.
Questions in the middle?
- When will the Two Pools and Feather Cap tenements be granted to enable drilling?
- What are the expected timelines and budgets for the maiden drill programs at both projects?
- How will Corazon balance exploration funding given its limited cash position and reliance on recent capital raising?
