Corazon Mining

What Corazon Mining does

Corazon Mining Limited (ASX:CZN) is a pre-revenue Australian mineral exploration company focused on the discovery and advancement of gold, nickel, copper, and cobalt deposits across multiple jurisdictions. Its portfolio comprises four core assets: the Two Pools and Feather Cap gold projects in Western Australia, the Mt Gilmore copper-cobalt-gold project in New South Wales, and the Lynn Lake nickel-copper-cobalt project in Manitoba, Canada, where Corazon holds 100% ownership of the entire historic mining belt — the first consolidation of the district since 1976. Technical work is conducted using core drilling, induced polarisation (IP) geophysics, soil and rock-chip geochemistry, and a proprietary mineral chemistry vectoring technique developed with the University of Tasmania's CODES research centre to vector toward higher-grade mineralised zones. The company is small (1–10 employees) and operates with a lean, project-by-project exploration model.

The company's business model is that of a typical junior ASX-listed explorer: it raises equity capital on the ASX to fund drilling, geophysical surveys, geochemical sampling, and tenement maintenance across its project portfolio, with the objective of defining a mineral resource that can be advanced toward feasibility, joint venture, or sale. The most recent disclosed capital raise was A$1.8 million in December 2025. Corazon has no operating revenue, no product sales, and no paying customers; its only commercial counterparty of note is IGO Limited, with which it signed a strategic agreement in March 2026 covering critical minerals assets. Strategic direction has pivoted in 2026 toward gold in Western Australia, evidenced by the May 2026 acquisition of the Chalice Gold Project, maiden drilling at Two Pools in March 2026, and the definition of a 4km gold-in-soil anomaly. Customers in the traditional sense are therefore capital markets participants (ASX retail and institutional investors) and potential future strategic partners or acquirers of project interests.

Geographically the portfolio spans two continents (Australia and Canada) and four commodities (gold, nickel, copper, cobalt), giving Corazon exposure to both precious-metals momentum and critical-minerals thematic demand. Operational cadence in 2026 has been high: maiden drilling at Two Pools, Chalice Gold Project acquisition, IGO agreement, new director appointment, and ongoing drilling at Lynn Lake and Mt Gilmore all within a roughly two-month window. The company is therefore in an active development phase, but remains pre-revenue, pre-resource on most of its gold assets, and dependent on continued equity capital to advance work programs.

Name

Corazon Mining

Legal name

Corazon Mining Limited

Website

https://corazon.com.au

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Corazon Mining is a pre-revenue ASX-listed mineral exploration company advancing gold projects in Western Australia (Two Pools, Feather Cap, Chalice), nickel-copper-cobalt at Lynn Lake in Canada, and copper-cobalt-gold at Mt Gilmore in NSW, funded primarily through equity raises and targeting future joint-venture or development partnerships.

Ownership category

akta.pro rank

Product category

Mineral Exploration

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230), Support Activities for Metal Mining (213114)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industries

Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration
• Gold exploration
• Nickel-copper-cobalt
• Critical minerals exploration
• Base metals exploration

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Pre-revenue mineral exploration: Corazon Mining is a pre-revenue mineral exploration company; the company does not currently generate operating revenue and is funding exploration activities through equity capital raises (e.g., A$1.8 million raised at A$0.15 per share announced 2025-12-03). Future revenue is intended to come from development and production of its nickel-copper-cobalt (Lynn Lake), gold (Two Pools, Feather Cap), and copper-cobalt-gold (Mt Gilmore) assets.

Go-to-market motion2 records

Marketing channels6 records

Core offering

Corazon Mining Limited (ASX: CZN) is a pre-revenue Australian mineral exploration company focused on identifying and advancing high-grade deposits of gold, nickel, copper and cobalt across a portfolio of four projects: the Two Pools Gold Project and Feather Cap Gold Project in Western Australia, the Lynn Lake Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada, and the Mt Gilmore Cobalt-Copper-Gold Project in New South Wales. The company funds exploration activities through equity capital raises on the ASX and is not currently generating operating revenue.

Product overview

Corazon Mining (ASX: CZN) is a single-platform mineral exploration company built around four named project assets, organised as a portfolio-plus-focus architecture. The Western Australian gold portfolio — comprising the Two Pools Gold Project (cornerstone) and the Feather Cap Gold Project — is the company's primary strategic focus and discovery engine, complemented by two base/precious-metals assets: the Lynn Lake Project (Ni-Cu-Co, Canada) and the Mt Gilmore Project (Cu-Co-Au, NSW). The WA gold projects are advanced via modern exploration techniques including maiden drilling, IP geophysics and heritage surveys; Lynn Lake centres on JORC resource development and the priority Fraser Lake Complex target; Mt Gilmore focuses on porphyry Cu-Au systems (May Queen) and the unique Cobalt Ridge cobalt-dominant sulphide deposit. Together, these four projects form a unified high-grade discovery and development portfolio spanning gold, nickel, copper, cobalt and silver across Western Australia, New South Wales, and Manitoba, Canada.

Differentiator

Problem solved

Functional benefit

Products and services

• Two Pools Gold Project Cornerstone gold exploration asset located in the Plutonic-Marymia Greenstone Belt, Western Australia, covering a 4km strike of exposed, mineralised greenstone. Historical drilling has delivered high-grade intercepts including 12m @ 8.89 g/t Au. Corazon holds 100% of the project.
• Feather Cap Gold Project
• Lynn Lake Project Nickel-Copper-Cobalt Sulphide Project in Manitoba, Canada — a significant Class-1 nickel resource that Corazon fully consolidated under single ownership in 2015. Hosts a JORC resource of 16.3Mt @ 0.72% Ni, 0.33% Cu, 0.033% Co (116,800t contained Ni). Includes the priority Fraser Lake Complex exploration target.
• Mt Gilmore Project Cobalt-Copper-Gold Project located 35km from Grafton in north-eastern New South Wales, Australia. Corazon owns 80% and is sole-funding exploration. Hosts the Cobalt Ridge high-grade cobalt-dominant sulphide deposit and the May Queen porphyry copper-gold target within an 11km+ mineralised trend.

Quantifiable outcome

• Lynn Lake JORC Resource: 16.3Mt @ 0.72% Ni, 0.33% Cu, 0.033% Co (116,800t Ni, 54,300t Cu, 5,300t Co contained)
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered strategic, core, operational and adjacent.

• Chalice GoldstrategicStrategic or Co-development Partner · 1 May 2026Chalice Gold Project Acquisition and Capital Raising announced May 2026; Corazon announced the acquisition of the Chalice Gold Project as part of its gold portfolio expansion in Western Australia.
• University of Tasmania's Centre of Ore Deposit and Earth Science (CODES)coreStrategic or Co-development PartnerResearch collaboration with the University of Tasmania's CODES on geochemical testwork that confirmed Mt Gilmore hosts key geochemical characteristics specific to large porphyry copper-gold deposits. This collaboration produced the proprietary 'mineral chemistry vectoring' techniques used to generate drill targets at the May Queen prospect.
• IGOstrategicStrategic or Co-development PartnerIGO Agreement announced 18/03/2026 ('CZN Expands Au footprint with IGO Agreement'), expanding Corazon's gold exploration footprint through a partnership with IGO, a major Australian critical minerals company.
• Automic GroupoperationalImplementation/ SI/ Consulting PartnerAutomic Group serves as Corazon Mining's share registry provider, maintaining the company's share and options registers and managing security holder communications. Located at Level 5, 126 Philip St, Sydney NSW 2000.
• Catalyst MetalsadjacentOthersCatalyst Metals operates the Plutonic Processing Plant, located only 60km from Corazon's Two Pools Gold Project, representing a potential nearby processing option in the Plutonic-Marymia Greenstone Belt.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Panther Metals: ASX-listed junior explorer with nickel-cobalt and gold projects in Australia. Similar micro-cap profile and battery/precious-metals commodity mix to Corazon; useful as a peer for valuation benchmarking of small Australian juniors.
• Geopacific Resources: ASX-listed gold and base-metals junior with projects in Papua New Guinea and Australia. Comparable micro-cap, multi-jurisdiction exploration profile; Corazon director Warrick Clent was previously Country Manager (PNG) at Geopacific.
• Raiden Resources: ASX-listed gold and base-metals junior with projects in Australia and the Balkans. Comparable micro-cap exploration profile to Corazon; Corazon director Warrick Clent was previously COO at Raiden.

Direct peers

• Leeuwin Metals: ASX-listed junior explorer focused on nickel-copper-cobalt sulphide assets in Canada and Australia. Comparable commodity mix, jurisdiction profile, and stage of development to Corazon; Corazon NED Scott Williamson is also a NED at Leeuwin.
• Blackstone Minerals: ASX-listed nickel-copper-cobalt sulphide explorer with Canadian (BC) and Australian assets. Highly comparable to Corazon's Lynn Lake asset; Corazon NED Scott Williamson was previously MD of Blackstone, underscoring direct comparability.
• Kali Metals Ltd: ASX-listed critical minerals explorer (lithium-focused, with growing battery-metals portfolio). Comparable ASX-listed junior exploration stage and battery-metals thematic; Corazon MD Simon Coyle is a NED at Kali.

Broad incumbents

• IGO Limited: Major ASX-listed critical minerals producer (nickel, lithium, copper, cobalt) and Corazon's strategic partner via the March 2026 agreement. Provides a benchmark for the scale Corazon could reach and a credible potential acquirer/partner.

Regional players

• Catalyst Metals: ASX-listed gold producer operating the Plutonic Processing Plant, located only 60km from Corazon's Two Pools Gold Project. Comparable WA gold-belt focus; represents the most logical nearby processing option for any Two Pools ore.
• Westgold Resources: ASX-listed mid-tier gold producer with operations in Western Australia including the Bryah-Padbury Basin (adjacent to Corazon's Feather Cap project). Represents a potential acquirer and demonstrates the regional scale Corazon's WA gold assets could reach.

Others

• Brazilian Rare Earths Ltd: ASX-listed critical minerals junior. Comparable listed exploration-stage profile and ASX retail/institutional investor base to Corazon; Corazon chair Kristie Young is also a NED at Brazilian Rare Earths.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/corazonmining
• YouTubeyoutube.com/watch?v=HEDqy7PJryQ
• Facebookfacebook.com/Corazon-Mining-133642240655773
• LinkedInlinkedin.com/company/corazon-mining-asx-czn

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Corazon Mining