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Corazon Gold Corp. (CGW:CA)
Gold Exploration in Nicaragua, Nevada & Colorado
Corazon Gold Corp. is a junior gold exploration company operating in Nicaragua and the historically rich mining areas of Nevada and Colorado, USA. Corazon is a gold explorer, which holds the Rio Coco concessions in Northern Nicaragua adjacent to the historic Coco Mine, North of Nicaragua's prolific Golden Triangle. Corazon is exploring for gold and silver in the historic Leadville district of Colorado with its Buckeye Partnership. With Corazon's recent acquisition of ICN Resources, Corazon is actively working at Goldfield, Nevada, adjacent to International Minerals Corporation's (TSX: IMZ) recent gold discovery exceeding 500,000 ounces. Corazon creates shareholder value by identifying golden exploration opportunities and then utilizes the best team of geologists to identify an ore body.
We are excited about what lies on the road ahead. Come join us on our journey and become a part of our success.
Corportate Interests
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| Corporate Presentation | Fact Sheet |
Projects
Nicaragua
Arcosa, Azul and Calcedonia
Corazon's new gold exploration projects in Northern Nicaragua consist of the Arcosa, Azul and Calcedonia concessions that are located along the Rio Coco River that separates Nicaragua and Honduras. On the Nicaraguan side, these properties encompass 30,000 hectares of mineral rights and each concession is home to considerable small-scale placer and hard rock gold mining.
These concessions area located 60 km south of the highly prolific Golden Triangle of northeastern Nicaragua. This area is one of the most productive mining areas in Central America. Having a rich history of mining dating back to the early 1900s, production estimates from this area have been over 5 million ounces of gold, 4 million ounces of silver and 305 million pounds of copper (Arengi, 2002).
The three new concessions cover a regional play exploring for breccia-hosted, gold-zinc-copper deposits similar to that found historically at Coco Mina. The Coco Mina deposit was explored and partially developed by Rosario Resources and Fresnillo in the mid 1970's and is located 2 kilometers to the south of the new Arcosa concession. The geological environment hosting this deposit is believed to extend northerly into the recently granted concessions where widespread artisanal gold mines are present.
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Nevada
Goldfield Bonanza Property
The Company entered into a Definitive Agreement (the "Agreement") with Lode Star Gold, Inc. ("Lode Star"), a private Nevada corporation, on March 28, 2011 to acquire an 80% interest in certain claims (the "Property") held by Lode Star. The Property consists of 31 patented and one unpatented mill site claim, (approximately 450 acres), and forms the Goldfield Bonanza Project, located in the historic mining district of Goldfield Nevada. The Property lies directly east of the town, roughly 270 miles southeast of Reno, Nevada, and includes some of the historic past producing mines and workings.
To earn their 80% interest in the Property, ICN will be required to pay to Lode Star a total of US$3,000,000 in cash, issue 3,000,000 units and complete US$5,000,000 of exploration work over a 4 year option period. Each unit consists of one common share and one full share purchase warrant, with each warrant entitling the holder to purchase one additional common share for a period of two years at an exercise price equal to 110% of the average closing market price of the Company's common shares over a five consecutive day period immediately prior to the date of issuance. As of May 1, 2012, the Company has paid Lode Star US $200,000 and issued 2,250,000 units. If ICN completes all requirements of the Option to vest at 80% in the Property, a standard mining joint venture will be formed.
The Goldfield District was discovered in 1903 and has produced intermittently since that time, with the last recorded production coming from open pit operations conducted during the 1980's. According to Nevada Bureau of Mines and Geology Bulletin 78 (1972), the Goldfield District has recorded production in excess of 4.1 million ounces of gold from high grade quartz-alunite ledges, with some historic stopes grading in excess of 1 oz/ton Au (>34 g/tonne). Average grade of recorded gold production is in excess of 0.5 oz/ton (>17 g/tonne), and recorded production in the district also includes about 1.5 million ounces of silver.
The District is a classic, epithermal, high sulfidation gold system, hosted by volcanic rocks of Tertiary age. A large portion of the Property is covered by a thin veneer (<160 feet (50 metres) of post mineral volcanic rocks, and consequently yields untested exploration targets. During the past twelve years, Lode-Star completed over 35,000 feet (10,750 m) of reverse circulation and core drilling, from both surface and underground. They encountered intercepts of multiple ounces gold per ton in their underground drilling, and have only tested less than 1000 feet (300 m) along a major structural zone that appears to focus gold mineralization and has an apparent strike length of >5,000 feet (1500 m). The Lode Star data is historic in nature and consequently cannot be relied upon, however their geologist is a QP as defined by 43-101, and all assay work was carried out by an ISO certified laboratory.
ICN's year one work commitment of US$1,000,000 has been met. Initially, ICN completed a CSAMT (Controlled Source Audio-frequency Magneto Telluric) geophysical survey over the entire property, as this specific geophysical technique clearly outlines the main structural zones and highly resistive (silicified) rock beneath the post mineral cover. Drill testing of CSAMT and structural targets followed and includes both core and reverse circulation drilling.
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| View Hi-Res Plan Map ICN Drill Holes To Date |
View Hi-Res Bio-geochem Anomalies with Grade Thickness of ICN Drilling |
View Hi-Res Bio-geochem and CSAMT Result |








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