Where Could Chalice-Style Gold Targets Emerge Along Corazon's (ASX:CZN) 40 Kilometre Strike?

Sonal Goyal

12 November 2026 11:33 AM AEDT

Where Could Chalice-Style Gold Targets Emerge Along Corazon's (ASX:CZN) 40 Kilometre Strike?

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Key Highlights

Corazon has identified three priority near-mine targets along the Chalice Corridor, each interpreted as a possible repeat of the Chalice setting.
Approximately 3 kilometres of under-drilled strike has been mapped north and south of the Chalice mine.
The El Paso Trend has been traced for at least 7 kilometres and has been tested only by shallow historical drilling.
Of 5,202 historical holes, 74 percent are RAB or aircore averaging 44 metres deep.

Corazon (ASX:CZN) has announced a review of more than 40 kilometres of strike, consolidated through its agreement with Dynamic Metals Limited (ASX:DYM), which has identified multiple targets where the geology hosting the Chalice gold mine is interpreted to repeat. The announcement is dated 12 November 2026. The Chalice mine has produced more than 645,000 ounces of gold.

Priority near-mine targets

Corazon has defined three priority targets. Target A sits about 500 metres north of the Chalice underground resource and is interpreted to be concealed beneath a thin sheet of granite, largely untested. Target B lies immediately southeast of the company's current drilling, where the rock units bounding Chalice converge to form a potential gold trap. Target C sits about 4.5 kilometres south of the Chalice Mining lease, where historical drilling returned gold anomalism over more than 1.2 kilometres of strike.

Previously reported historical intercepts within the tenure being acquired include 15 metres at 16.19 g/t gold from surface, 2 metres at 41.31 g/t from 134 metres and 4 metres at 9.50 g/t from 52 metres. These intercepts are from earlier explorers' records and have not been independently verified by the company in this announcement.

The El Paso Trend and drilling gaps

A second, parallel corridor, the El Paso Trend, has been traced for at least 7 kilometres and is interpreted as a possible repeat of the Chalice structure. It has been tested only by shallow historical drilling. The company notes that gold at Chalice extends several hundred metres below surface, but 74 percent of the 5,202 historical holes are RAB or aircore averaging 44 metres deep, and only 90 holes outside the mining Lease extend beyond 100 metres.

Final Word

Corazon's review identifies geologically similar targets close to an established producer, but the targets are largely untested and rely on interpretation of earlier drilling. Systematic soil and multi-element sampling is planned across the trends, which will determine whether the targets justify drilling. The outcome depends on what the sampling shows and on the reliability of the historical data.

FAQs

Q: How much strike has been reviewed?

A: Corazon has reviewed more than 40 kilometres of strike, consolidated through its agreement with Dynamic Metals.

Q: Which target is closest to Chalice?

A: Target A sits about 500 metres north of the Chalice underground resource and is interpreted to be concealed beneath granite.

Q: What is the El Paso Trend?

A: It is a parallel corridor traced for at least 7 kilometres, interpreted as a possible repeat of the Chalice structure and tested only by shallow drilling.

Q: How reliable is the historical drilling?

A: Most historical holes are shallow RAB or aircore, and the company has not independently verified the earlier intercepts in this announcement.

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