Corazon Mining Limited has defined a maiden Exploration Target of 1.4 million to 2.15 million tonnes at 1.6 g/t to 1.9 g/t gold, containing approximately 72,000 to 132,000 ounces of gold at the Two Pools Gold Project in Western Australia.

The quantification comes roughly 10 months after Corazon acquired the project in August 2025 and four months following a maiden diamond drilling program completed in April 2026. The project covers approximately 537 square kilometres within the Marymia Dome of the Eastern Gascoyne region and comprises exploration licenses E52/4460 and E52/4521.

The Exploration Target spans three distinct areas: Northern, Central, and Southern. The Northern Target is the most advanced, backed by approximately 92 drillholes with reverse circulation and diamond intersections spaced as closely as 15 to 30 metres in better-drilled sections. It features an interpreted mineralised system extending about 540 metres east-west, 350 metres north-south, and 190 metres vertically, incorporating historical high-grade intercepts such as 12 metres at 8.89 g/t gold from 79 metres, including 3 metres at 34.25 g/t gold.

By contrast, the Central and Southern targets remain materially under-drilled, with line spacing locally reaching up to approximately 200 metres.

“This maiden Exploration Target is a significant milestone for Corazon and the first quantification of the Two Pools gold system since acquisition. The range (up to 132,000 ounces of contained gold) is a conservative starting point rather than a ceiling and is underpinned by standout historical intercepts including 12 m at 8.89 g/t Au and 18 m at 3.89 g/t Au, with individual metres grading as high as 34.25 g/t Au. The Northern Target remains open along strike and at depth. Our Central and Southern Targets sit on drill spacing of up to 200 m, the widest across the Exploration Target, and simply tightening that spacing has the potential to materially grow ounces beyond the upper end of today's range. We see genuine scope for Two Pools to deliver a step-change in scale as future drilling closes those gaps.”

— Simon Coyle, Managing Director

To test the targets, Corazon has planned approximately 5,000 metres of reverse circulation drilling across all three areas over the next six months to infill existing drill spacing, test target extensions, and support future resource estimation work.

Read the full announcement: Maiden Exploration Target at Two Pools