Corazon Launches Maiden Drilling at Wembley Targeting Shallow High-Grade Gold

Maiden Drilling Targets Continuity of High-Grade Gold at Wembley

Corazon Mining Limited (ASX:CZN) has commenced its first-ever systematic drilling campaign at the Wembley gold prospect, part of the Feather Cap Gold Project in Western Australia’s Bryah-Padbury Basin. The program comprises approximately 2,000 metres of reverse circulation (RC) drilling across 20 holes, designed to test whether shallow, high-grade gold mineralisation identified historically extends along strike and at depth beyond the known workings.

The historic Wembley mine, active between 1926 and 1935, produced around 1,050 ounces of gold from just 1,510 tonnes of ore, implying an exceptionally high recovered grade of approximately 21 g/t Au. While these figures are unverified and selective, they underscore the prospect’s potential. Historical drilling has returned notable intercepts such as 7 metres at 6.21 g/t Au from 6 metres depth and 2 metres at 6.33 g/t Au from 68 metres, with mineralisation remaining open in multiple directions.

Drilling to Validate and Expand Known Mineralisation

The drilling program focuses on two main objectives: first, to test extensions beneath and along strike, up to 250 metres, from the historic Wembley workings; and second, to explore a broader regional structural corridor interpreted to host gold mineralisation beyond the immediate mine area. This corridor has seen limited systematic drilling to date but has returned encouraging historical results, including 8 metres at 1.14 g/t Au from 17 metres.

Corazon’s Managing Director Simon Coyle emphasised the program’s ambition: “We are not drilling simply to confirm what is already known. We are drilling to find out how big this is, and whether those high-grade hits are isolated pods or the surface expression of a much larger, structurally controlled system.” The program follows a detailed heritage survey and a comprehensive review of historical data, clearing the way for modern exploration techniques to build on past work.

Feather Cap Adds to Corazon’s WA Gold Portfolio

Feather Cap covers roughly 154 square kilometres in a proven gold province, strategically positioned near Westgold Resources’ Fortnum processing plant and adjacent to Great Boulder Resources’ Durack deposit. This project complements Corazon’s other Western Australian gold assets at Two Pools and Chalice, the latter recently acquired with a JORC Mineral Resource of 191,000 ounces at 2.7 g/t Au on a granted mining lease.

Corazon has identified multiple priority targets across Feather Cap, including Jigsaw/Durack East and Trudgeon Well, with historical drilling at Jigsaw/Durack East returning significant gold zones such as 20 metres at 3.01 g/t Au, including 4 metres at 10.7 g/t Au. Wembley is the first of several targets slated for systematic testing, underpinning Corazon’s strategy to build a district-scale gold discovery pipeline.

Next Steps and Market Expectations

JBell Drilling mobilised to site on 14 August 2026, with the program expected to conclude by the end of September. Assay results are anticipated progressively from October 2026, which will inform an updated Exploration Target at Wembley and guide follow-up resource definition drilling. Corazon aims to advance Wembley towards a maiden Mineral Resource Estimate, though any such target remains conceptual pending drilling outcomes.

While historical data provide a promising foundation, the reconnaissance nature of previous sampling and the lack of twin-hole verification mean caution is warranted. True widths of mineralisation are unknown, and assay results will be critical to validate the scale and continuity of the system. Corazon’s broader WA gold ambitions are buoyed by recent strategic acquisitions and capital raises, positioning the company for an active exploration phase across its portfolio.