Corazon increases Ni sulphide in Manitoba

Australian metals developer Corazon Mining has increased the resource at its battery minerals-focused Lynn Lake nickel-copper-cobalt sulphide project in Manitoba, Canada.

The indicated and inferred mineral resources now stands at 16.3mn t grading 0.72pc nickel, 0.33pc copper and 0.33pc cobalt. This translates to 116,800t of nickel metal, 54,300t of copper and 5,300t of cobalt.

Within the resource is a high-grade zone comprising 5.4mn t grading 0.99pc nickel, 0.41pc copper and 0.043pc cobalt.

Six deposits within the project area have been examined so far, with several other areas yet to be assayed, indicating potential for the resource to be expanded.

"Corazon has almost 117,000t of nickel metal in sulphide resources sitting in one of the best mining provinces in Canada, and all indications are that this will be expanded. The forecasts for Class 1 nickel demand are strong and we are keen for Lynn Lake to be in a position to take advantage of that market," chairman Terry Streeter said.

Nickel sulphide is in increasing demand around the world as a raw material source for NMC811 (nickel 8, manganese 1, cobalt 1) batteries for the electric vehicle sector.

Corazon is also developing the Mt Cobalt nickel-copper-cobalt-gold sulphide project in the Australian state of New South Wales.

By Angus Macmillan