Corazon Mining Limited has commenced a maiden 50-hole, approximately 7,500-metre reverse circulation drilling program at the 100%-owned Chalice Gold Project near Higginsville, Western Australia.

The campaign directly targets growth in the existing JORC 2012 Mineral Resource Estimate of 191,000 ounces at 2.7 grams per tonne gold. Drilling tests continuity of mineralisation up to 1,000 metres south and along strike of the historical open pit, reaching vertical depths of up to 200 metres.

The current reverse circulation program provides the first practical test of a recently defined Exploration Target of 9.7 million to 12.3 million tonnes at 1.9 to 2.1 grams per tonne gold, representing approximately 600,000 to 830,000 ounces of contained gold inclusive of the existing resource. Work on site began following the completion of a heritage survey with the Ngadju Native Title Group.

“The historical mineral resource is our starting point, not the limit of our ambition for Chalice. We're now putting 50 holes into the ground to test gold extensions up to a kilometre south of the pit and to a depth of ~ 200 metres and deliberately prioritising the near-surface targets, for the most capital and time efficient pathway to resource growth. Historical gold intersections already sit beyond the current resource and this program will tell us whether they connect into a larger, continuous system.”

“This drilling is the first practical test of the Exploration Target we defined just weeks ago. We've already identified deeper targets for future phases, including the down-dip extension of the underground resource and the potential for parallel lodes, which represent further upside still to come. Every step here is about growing the resource and advancing Chalice toward our goal of a development-ready open pit gold mine.”

— Simon Coyle, Managing Director

Corazon expects to receive first assay results from the drilling within weeks, with progressive releases as interpreted. The program is due for completion by November 2026, with results feeding into updated geological modelling and a potential Mineral Resource update.

Read the full announcement: Drilling Commences at Chalice Gold Project