Corazon Finds High-Grade Gold and Extends Wembley System

• 4m at 10.60 g/t gold from 66m
• Mineralisation extended approximately 60m east of historic drilling
• 2,000m maiden RC program completed across 20 holes
• Regional offset structure returns anomalous gold
• Seven hole assays remain pending

Corazon Mining Limited (ASX:CZN) has produced the kind of first-pass exploration result gold explorers hope for: a 4-metre interval grading 10.60 grams per tonne gold, alongside other high-grade hits, from maiden drilling at the Wembley prospect in Western Australia. The strongest result sits about 60 metres east of historic drilling, while the mineralised structure remains open at depth.

The results come from a 2,000-metre, 20-hole reverse circulation program completed in August across the Wembley Line and a separate regional structure. Assays have so far been received for 13 holes. Seven holes, numbered 26FRC014 to 26FRC020, remain pending, meaning the current picture is encouraging but incomplete.

High-Grade Intercepts Extend the Wembley Line

The main zone delivered 4 metres at 9.20 g/t gold from 65 metres in hole 26FRC004, 2 metres at 5.70 g/t from 64 metres plus a second 2-metre interval at 1.46 g/t in 26FRC003, and 4 metres at 2.84 g/t from 68 metres in 26FRC002. Corazon said the results confirm a coherent, steeply dipping structure at roughly 55 metres vertical depth along the historic line of workings.

The drilling also identified a second, previously untested offset structure. It returned narrower anomalous intervals of 2 metres at 0.76 g/t gold and 1 metre at 0.65 g/t in holes 26FRC017 and 26FRC016 respectively, with the latter trend said to correlate with historic drilling. Those grades are materially below the headline Wembley Line hits, but they establish another target for interpretation and possible follow-up work.

Resource Ambition Still Requires More Drilling

Corazon plans to test strike and depth extensions of the Wembley Line and, subject to the remaining assays, the regional structure. The stated objective is to build enough geological information for an initial Exploration Target and potentially a maiden Mineral Resource Estimate. Neither has yet been defined, and any Exploration Target would be conceptual rather than a resource estimate.

That distinction matters. The reported intervals are downhole lengths, not calculated true widths, and the drilling is still at an early exploration stage. The company’s own disclosure says the current spacing supports preliminary assessment of geological and grade continuity, while collar positions are based on handheld GPS and are expected to be upgraded ahead of resource-definition drilling.

Wembley forms part of the 154-square-kilometre Feather Cap Gold Project in the Bryah-Padbury Basin, near Westgold Resources’ Fortnum mine and Great Boulder Resources’ Durack deposit. Corazon holds an option to acquire an 80% interest in the Feather Cap tenements, with the current drilling contributing to the earn-in and option-exercise requirements. The next meaningful test is therefore not just whether the remaining assays add more ounces on paper, but whether they support a coherent drill plan capable of turning a promising high-grade line into a sufficiently defined mineralised body.

Bottom Line?

The headline grades are strong, but Wembley’s investment case now depends on the seven outstanding assays and whether follow-up drilling can demonstrate continuity at useful widths and scale.

Questions in the middle?

• Do the seven pending assays confirm continuity beyond the initial high-grade Wembley Line holes?
• How wide and continuous is the mineralisation once true widths and structural geometry are established?
• Can follow-up drilling support a credible conceptual Exploration Target and eventually a maiden resource?