Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce it has made a strategic investment in Corazon Mining Limited (Corazon), a nickel-copper-cobalt sulfide exploration and development company listed on the Australian Stock Exchange (ASX). Blackstone’s initial investment of ~A$2m will earn a 14.32% interest in the common equity of Corazon (Equity Investment).

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 (refer Figure 1), has historic mining and a current mineral resource of 168.0ktNi,81.7ktCuand7.9ktCo(referTable1). The Lynn Lake Project is 100% owned by Corazon and is a development ready underground mine in Manitoba, Canada. The tenure includes several advanced geophysical and geological targets beyond the A-Plug and EL mining centres (refer Figure 2).

Blackstone and Corazon have also entered a Memorandum of Understanding that will see collaboration on the production of upstream and downstream nickel and cobalt concentrates and chemical products, potential offtake and / or joint ventures to meet demand from the growing electric vehicle battery industry (MoU). The Equity Investment and MoU together represent the “Corazon Transaction.”

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This article includes content from Blackstone Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.


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