Australian miner Blackstone Minerals has decided to make an investment in Corazon Mining, a nickel-copper-cobalt sul-fide exploration and development business listed on the Australian Stock Exchange (ASX).
Blackstone Minerals is placing an initial investment of about A$2 mil-lion (US$1.5 million) which will earn the miner a 14.32 percent interest in the common equity of Corazon Mining, the Australian business said in a statement.
“Corazon has interests in nickel-copper-cobalt assets in Canada (Lynn Lake) and Australia (Mt Gilmore and Miriam). The Lynn Lake Project located north-west of Thompson in Manitoba, Canada … has historic mining and a current mineral resource of 168.0kt Ni, 81.7kt Cu and 7.9kt Co,” according to the statement.
Scott Williamson, the managing director of Blackstone Minerals, com-mented that the “Lynn Lake project boasts a meaningful nickel-cop-per-cobalt resource that the Company believes has potential for a significant valuation uplift based on integration with the Ta Khoa Re-finery.”