Strategic Acquisition Reveals 20km of Unexplored Greenstone
The Two Pools Gold Project represents a significant opportunity for Corazon Mining Ltd, covering 193km² of contiguous tenure approximately 60km from Catalyst Metals' Plutonic Processing Plant. What makes this gold project acquisition particularly compelling is the recent discovery that the project contains a previously unrecognised 20km strike length of greenstone belt, spanning 3-6km in width, that was incorrectly mapped as granite by government geological surveys.
Reprocessing and interpretation of magnetic data has revealed this extensive greenstone belt extends beneath areas historically misclassified as granite. This discovery significantly expands the project's exploration potential, as similar geological settings in the region have yielded substantial gold deposits.
Proven High-Grade Gold Mineralisation Already Confirmed
Historical drilling within this greenstone sequence has already produced several impressive gold intercepts, including:
- 12m at 8.89g/t Au from 79m (including 3m at 34.25g/t Au)
- 18m at 3.89g/t Au from 83m (including 4m at 15.96g/t Au)
- 8m at 7.83g/t Au from 66m (including 1m at 52.24g/t Au)
- 3m at 7.22g/t Au from 9m
- 3m at 7.80g/t Au from 45m
These results demonstrate not only the presence of gold but confirm high-grade mineralisation at various depths. Surface rock chip samples have also returned results up to 34.7g/t Au, while soil sampling has identified a broad anomalous zone 400m wide by approximately 1km long.
Structural Setting Similar to Plutonic Gold Mine
Corazon's incoming Managing Director, Simon Coyle, highlighted the geological significance: "The Two Pools Gold Project presents a remarkable opportunity, with historical high-grade intercepts and a compelling geological setting that has been overlooked until now."
What makes the project particularly interesting is that drilling has confirmed mineralisation within the greenstone extends beneath overthrust granite – potentially creating a similar setting to Catalyst Metals' Trident deposit. This geological model suggests potential for significant gold discoveries near recent finds beneath the granite cover.
Understanding "Overthrust Granite" in Gold Exploration
An overthrust granite occurs when tectonic forces push older granite rock over younger greenstone formations. This structural relationship is important for gold exploration because:
- The contact zone between these rock types creates pathways for mineral-bearing fluids
- The overthrust process creates structural traps where gold can concentrate
- The granite cap can protect mineralisation from erosion, preserving deposits
At Two Pools, a standout result demonstrating this potential was drill hole MRC691, which penetrated through overlying granite to hit 5m at 3.61g/t Au (including 1m at 16.29g/t Au) at 236m depth – 400 meters north of the main mineralised zone. This confirms the potential for blind, high-grade mineralisation beneath the granite cover, similar to what Matsa Resources discovered at their Fortitude North project.
Strategic Financing and Leadership Appointment
Concurrent with the Corazon Mining Ltd gold project acquisition, the company has secured firm commitments to raise approximately $2 million through a placement of 1 billion shares at $0.002 per share. The funding will support exploration activities at Two Pools and the company's existing projects, following a similar strategy to Vital Metals who secured funding for their project advancement.
The company has also appointed Simon Coyle as Managing Director, effective August 1, 2025. Coyle brings over 20 years of experience as a mining executive across the gold, iron ore, manganese, and lithium sectors. Most recently, he served as CEO and President of TSXV-listed Velox Energy Materials and previously held senior roles at Pilbara Minerals.
"The acquisition of the Two Pools Gold Project is a transformative achievement for Corazon. This is a rare opportunity to secure a significant landholding in a highly prospective greenstone belt that has been historically underexplored," stated Corazon's Non-Executive Chair, Kristie Young.
Future Plans and Timeline
Corazon's near-term plans include:
- Seeking shareholder approval for the acquisition and capital raising at a General Meeting in late September 2025
- Initiating systematic exploration across the newly identified greenstone belt
- Testing extensions of known mineralisation, particularly beneath the granite cover
- Exploring the potential for a capital consolidation on a 1-for-50 basis
The company will issue a range of performance-based incentives to management, with milestones tied to share price performance and exploration success. Furthermore, they plan to launch multi-project drilling campaigns to maximize their exploration potential.
Why Investors Should Watch Corazon
This Corazon Mining Ltd gold project acquisition represents a rare opportunity to secure a significant landholding in a highly prospective greenstone belt with demonstrated high-grade gold mineralisation. The combination of:
- Unexplored potential – 20km of largely untested greenstone belt
- Proven high-grade gold – multiple intercepts exceeding 5g/t Au
- Strategic location – just 60km from an operating processing facility
- Experienced leadership – new Managing Director with proven track record
- Funded exploration – $2M capital raise to accelerate activities
With a clear exploration strategy, funded programme, and experienced management team, Corazon Mining Ltd is well-positioned to unlock the potential of this overlooked gold project in one of Australia's productive gold regions. The company's approach mirrors successful strategies employed by companies that have unveiled major gold-copper discoveries in established mining provinces.
Want to Catch the Next Major ASX Mining Discovery?
Discovery Alert's proprietary Discovery IQ model provides instant notifications of significant mineral discoveries, helping investors identify opportunities before the broader market recognises their potential. Explore how historic discoveries have generated substantial returns by visiting our dedicated discoveries page and start your 30-day free trial today.
