Corazon Mining has secured key gold assets in Western Australia, finalising the Two Pools acquisition and gaining an option on Feather Cap, backed by fresh capital to fund imminent drilling programs.
- Completed acquisition and permitting of Two Pools Gold Project
- Secured 12-month option for 80% of Feather Cap Gold Project
- Received $1.8 million placement to fund exploration
- Maiden drill programs planned for Q1 2026 at both projects
- Executed 50-for-1 share consolidation to restructure capital
Strategic Expansion in WA Gold Belt
Corazon Mining Ltd (ASX – CZN) has made significant strides in its Western Australian gold exploration strategy during the December 2025 quarter. The company finalised the acquisition of the Two Pools Gold Project in the Gascoyne region, securing key tenements and land access agreements that clear the way for immediate exploration activities. This project lies within a historically overlooked greenstone belt, presenting fresh opportunities to validate and extend high-grade gold mineralisation.
In parallel, Corazon secured a strategic 12-month option to acquire an 80% interest in the Feather Cap Gold Project, located in the Bryah-Padbury Basin and contiguous with Westgold’s Durack Deposit. Historical data reviews have revealed multiple high-priority drill targets at Feather Cap, including impressive intercepts such as 20m at 3.01 grams per tonne gold and 35m at 1.47 grams per tonne, underscoring the project's potential.
Funding and Capital Restructuring to Accelerate Growth
To support its aggressive exploration agenda, Corazon secured firm commitments for a $1.8 million placement at $0.15 per share, supplementing the $2 million raised in the prior quarter. This fresh capital injection ensures the company is well-funded to commence maiden drilling programs at both Two Pools and Feather Cap in the first quarter of 2026.
Additionally, shareholders approved a 50-for-1 share consolidation completed in October 2025, aimed at restructuring the company’s capital base to enhance appeal to a broader investor base and position Corazon for future growth.
Upcoming Exploration and Outlook
Corazon plans to initiate a maiden diamond and reverse circulation drilling program at Two Pools in Q1 2026, targeting extensions of historical high-grade intercepts, including standout results such as 12m at 8.89 g/t gold and 18m at 3.89 g/t gold. At Feather Cap, heritage surveys are underway to facilitate drill testing of walk-up targets identified through comprehensive historical data analysis.
While the company’s base metal projects in Canada and New South Wales remain on hold, Corazon continues to maintain these assets in good standing, focusing its resources on the promising WA gold portfolio. With approximately $3.5 million in cash at quarter-end, Corazon is positioned to execute its exploration plans and potentially unlock significant value from its newly consolidated gold assets.
Bottom Line?
Corazon’s decisive moves in WA gold exploration set the stage for a pivotal drilling season that could redefine its growth trajectory.
Questions in the middle?
- Will the upcoming drill results at Two Pools confirm the high-grade potential suggested by historical data?
- How will heritage survey outcomes impact the timing and scope of drilling at Feather Cap?
- What strategic options might Corazon pursue for its base metal projects amid the gold focus?