Latest Corazon Mining (ASX:CZN) News

Corazon Mining (ASX:CZN) has kicked off a 2,000m reverse circulation drilling program at its Wembley gold prospect within the Feather Cap Project, aiming to test the continuity of historically high-grade, shallow gold mineralisation and explore a broader structural corridor in Western Australia’s Bryah-Padbury Basin.

Small-cap resources stocks led the week, while takeover activity and strong company results added to the gains. Wellnex Life more than doubled, but sharp falls in Trek Metals and Ionic Rare Earths showed that positive news did not always bring buyers.

Materials shares delivered another strong week, led by a 60.61% rise at iTech Minerals and major gains across gold, copper and critical minerals.
Investors rewarded fresh drilling results, larger mineral resources, project approvals and new supply agreements, although several heavily sold stocks showed that early buying did not always last.

Corazon Mining has significantly expanded its Western Australian gold footprint by acquiring key tenements adjacent to the Chalice Gold Project, adding 170km2 of prospective ground and securing gold rights over underexplored corridors.

Small-cap shares produced the week’s biggest moves, led by Xenitra’s 60% surge and Carnaby Resources’ takeover jump.
Mining news dominated, but sharp falls in Lotus Resources and several funded developers showed that new capital can still unsettle investors.

Carnaby led the market after Evolution Mining agreed to a A$213 million takeover. Coal and lithium names fell despite major production and funding news.
Across materials, investors rewarded deals and cash flow, but punished large capital needs and weak price follow-through.

Corazon Mining has transformed its Western Australian gold portfolio by securing the Chalice Gold Project for A$25.7 million, backed by a $16.5 million capital raise and Westgold's strategic 19.9% stake. Early drilling success at Two Pools and new targets at Feather Cap set the stage for an active exploration push.

Big project news kept landing across gold, rare earths and battery minerals, but many small-cap share prices still fell hard. The week belonged to a giant gold merger at the top end, while further down the board early excitement often gave way to selling.

Corazon Mining has identified multiple high-grade gold intercepts beyond the existing 191,000 oz resource at its Chalice project, prompting a targeted drilling campaign starting Q3 2026 to test resource expansion potential.

Mining news drove the week, with drilling hits, funding wins and takeover bids pushing several small and mid-cap names sharply higher or lower. The biggest swings came from tin, platinum group metals and copper, while gold M&A in WA stayed at the centre of trading.

Big movers came from drill hits, takeover bids and fresh funding, but several stocks still fell even after good news. That mix says investors are rewarding clear near-term value, while punishing names where timing, cost or delivery still feel uncertain.

Corazon Mining has secured the Chalice Gold Project from Westgold, marking its shift to a gold developer with a 191,000oz resource and a $16.5 million capital raise to fund an aggressive drilling campaign.