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Corazon Mining Limited (ASX:CZN)

ALERT: Price-sensitive ASX Announcement for CZN
Current share price for CZN : $0.084 -0.116 (-58%)+
Announcement
Release
19 May 2026 11:09AM
Price at Release
$0.200
Full Release
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Summary
Corazon Mining Limited has entered into a binding agreement to acquire the Chalice Gold Project from Westgold Resources Ltd for approximately A$25.7 million. This acquisition includes an upfront cash payment, issuance of shares, and deferred cash payments linked to resource expansion milestones. The Chalice Gold Project hosts a JORC 2012 Mineral Resource of 191,000 ounces at 2.7 g/t Au and is located within the Higginsville district in Western Australia. To support this acquisition and further exploration, Corazon has raised A$16.5 million, strengthening its balance sheet. The company plans immediate commencement of a 15,000m drilling campaign to expand the known mineralization and explore new targets. Corazon aims to leverage nearby processing facilities to facilitate low-capex pathways to gold production.
Key Points
  • Corazon Mining Limited acquires Chalice Gold Project from Westgold.
  • Acquisition valued at approximately A$25.7 million.
  • Chalice Gold Project hosts 191,000 ounces at 2.7 g/t Au.
  • A$16.5 million capital raised for exploration and drilling.
  • 15,000m drilling campaign to commence immediately.
  • Located near multiple operational processing plants.
  • Potential for rapid resource growth and expansion.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.