Corazon Mining (ASX:CZN) announced a major strategic expansion of its gold exploration portfolio in Western Australia, following a landmark withdrawal agreement with IGO (ASX:IGO).
The deal allows Corazon to apply for exploration licences that will surge its landholding in the highly prospective Plutonic Marymia Greenstone Belt to a total of 537km2.
The expansion targets a critical 5-kilometre corridor of outcropping greenstones that, despite its clear geological significance and known structural parallels to high-grade gold mineralisation at nearby Plutonic, has seen remarkably limited historical drilling.
Central to this acquisition is the transfer of a comprehensive suite of historical exploration data, including exclusive, non-public datasets from De Beers.
Corazon's Managing Director, Simon Coyle, emphasised that accessing this "off-market" data provides a distinct competitive advantage, allowing the company to bypass preliminary guesswork and apply modern, systematic exploration techniques to high-priority targets immediately.
The new tenement package is strategically situated approximately 45km east-northeast of the Plutonic processing facility and 200km north of Meekatharra, positioned directly south of Corazon’s existing Two Pools Project.
The company is now preparing to "get on the ground" to test these structural targets, marking a pivotal shift in its operational scale within the region.