Corazon Mining Hits 10.6 g/t Gold at Wembley Extending Known Strike Zone
Key Takeaways
- Corazon Mining's maiden 20-hole, 2,000m RC program at Wembley returned standout intercepts of 4m @ 10.60 g/t Au and 4m @ 9.20 g/t Au from just 65–66m depth, confirming shallow, high-grade gold mineralisation.
- Hole 26FRC010 extended the Wembley Line approximately 60m east of the historic drilling footprint, with the structure remaining open at depth — meaning the system could be materially larger than what has been tested.
- A second structural corridor — an interpreted regional ultramafic shear zone — returned anomalous gold grades correlating with a historical intercept of 8m @ 1.14 g/t Au, adding a second exploration thread within the same project area.
- Assays for holes 26FRC014–020 remain pending, representing a near-term catalyst that could further define both the Wembley Line and the regional structure.
- Wembley sits within the 154 km² Feather Cap Gold Project, adjacent to Westgold Resources' Fortnum Gold Mine and Great Boulder Resources' Durack deposit, with Westgold holding a 19.9% strategic interest in Corazon.
Maiden drilling confirms high-grade gold at Wembley
Corazon Mining (ASX: CZN) has confirmed shallow, high-grade gold mineralisation at its Wembley gold prospect, with maiden reverse circulation (RC) drilling extending the mineralised zone along strike and establishing the first modern, systematic dataset at the site.
The 2,000m, 20-hole RC program was completed on schedule and within budget in August 2026 by JBell Drilling, testing beneath and along strike from the historic Wembley Line workings. Standout intercepts from the program include:
- 4m @ 10.60 g/t Au from 66m (26FRC010)
- 4m @ 9.20 g/t Au from 65m (26FRC004)
- 2m @ 5.70 g/t Au from 64m (26FRC003)
- 4m @ 2.84 g/t Au from 68m (26FRC002)
The best intercept, 26FRC010, sits approximately 60m east of historic drilling, confirming a meaningful strike extension beyond the previously known footprint. The mineralised structure remains open at depth, pointing to further scale beyond what has been tested to date.
These results represent the first modern, systematic drilling at Wembley, establishing the technical foundation for follow-up resource-focused work and a potential maiden Mineral Resource Estimate (MRE).
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What the results reveal about the Wembley system
Wembley Line — primary mineralised zone confirmed
Fourteen holes (26FRC001–014) tested the Wembley Line beneath and along strike from the historic workings. Results confirm a coherent, steeply-dipping structure sitting at approximately 55m vertical depth, intersected consistently across holes 26FRC002, 26FRC003, 26FRC004, 26FRC009, and 26FRC010.
The key strike extension is 26FRC010, which steps out approximately 60m east of the historic intercept of 7m @ 6.21 g/t Au from 6m in WLRD101. The structure remains open at depth, meaning further drilling has genuine scope to grow the system.
| Hole ID | From (m) | Interval (m) | Grade (g/t Au) |
|---|---|---|---|
| 26FRC002 | 68 | 4 | 2.84 |
| 26FRC003 | 64 | 2 | 5.70 |
| 26FRC003 | 79 | 2 | 1.46 |
| 26FRC004 | 65 | 4 | 9.20 |
| 26FRC006 | 56 | 1 | 0.79 |
| 26FRC007 | 60 | 1 | 0.76 |
| 26FRC008 | 17 | 1 | 2.35 |
| 26FRC008 | 10 | 1 | 0.77 |
| 26FRC009 | 63 | 1 | 2.67 |
| 26FRC009 | 40 | 8 | 0.48 |
| 26FRC010 | 66 | 4 | 10.60 |
| 26FRC016 | 28 | 1 | 0.65 |
| 26FRC017 | 55 | 2 | 0.76 |
A second target emerges — the regional structure
Six holes (26FRC015–020) formed a broadly north-south fence testing an interpreted regional ultramafic shear zone offset from the Wembley Line. Anomalous gold grades were returned from this second corridor: 2m @ 0.76 g/t Au (26FRC017) and 1m @ 0.65 g/t Au (26FRC016).
These intercepts correlate with historical hole WLDR14, which returned 8m @ 1.14 g/t Au from 17m depth, validating the target. This is a previously untested structural corridor within the same project area, adding a second thread of exploration optionality.
Assays for holes 26FRC014–020 are still pending and will be reported in a subsequent announcement.
Understanding RC drilling and what high-grade means for investors
Reverse circulation (RC) drilling is a technique where a rotating drill bit fragments rock underground, and compressed air forces the crushed material back up through the drill rods to the surface for sampling. It is the preferred method for early-stage gold exploration because it produces reliable, representative samples quickly and cost-effectively, without the greater expense of diamond drilling (which extracts a continuous core).
The grade of gold in a drill intercept is measured in grams per tonne, written as g/t Au. To put the Wembley numbers in context: intercepts at 10.60 g/t and 9.20 g/t sit firmly in the high-grade category, and their shallow depth (from 65–66m) makes them particularly attractive since less material needs to be moved to reach the ore.
“Open at depth” is exploration shorthand for the fact that the mineralised zone has not been closed off by drilling below. The mineralisation simply continues downward beyond the bottom of the deepest hole. That matters because it tells you the system could be larger than what has been tested.
A Mineral Resource Estimate (MRE) is a formal, JORC-compliant calculation of the quantity and grade of a mineral deposit, classified by geological confidence into Inferred, Indicated, and Measured categories. For a junior explorer, achieving a maiden MRE is a meaningful de-risking milestone. It converts exploration results into a defined inventory that can be used for economic studies and typically widens the pool of investors and partners who will engage with the project.
Wembley in context — Corazon’s growing WA gold portfolio
Wembley sits within the Feather Cap Gold Project, which covers approximately 154 km² of the Bryah-Padbury Basin, a proven gold and base-metal province in Western Australia. The project is strategically located close to Westgold Resources’ Fortnum Gold Mine and immediately adjacent to Great Boulder Resources’ Durack gold deposit, placing Corazon within an established mineralised district with existing processing infrastructure nearby.
The Wembley gold prospect has a history stretching back to 1926. The historic Wembley mine is recorded as having produced approximately 1,050 ounces of gold from 1,510 tonnes between 1926 and 1935, an implied recovered grade of approximately 21 g/t Au. These are unverified historical production records and are not indicative of grades that may be returned by the current program. The 2026 drilling has, however, confirmed high-grade gold mineralisation along the same structural position as that historic mining.
Simon Coyle, Managing Director, Corazon Mining
“These are outstanding first results from our maiden drilling program at Wembley. Not only have we reproduced the shallow, high-grade gold mineralisation seen in the historical drilling, we have extended it along strike and demonstrated that the Wembley Line is a coherent, structurally controlled gold system. Intercepts of 4 m at 10.6 g/t, 4 m at 9.2 g/t and 2 m at 5.7 g/t are exactly the type of results we set out to find. They give us confidence that the Wembley system has meaningful scale and that further drilling can grow it materially…”
Corazon’s technical review has identified multiple high-priority targets across the broader 154 km² Feather Cap landholding beyond Wembley. At Jigsaw/Durack East, historical drilling has returned broad gold zones including 20m @ 3.01 g/t Au from 40m, including 4m @ 10.7 g/t Au. Trudgeon Well and Murphys Creek are also identified as high-priority targets within the project area.
Feather Cap sits within Corazon’s three-project WA gold portfolio. The Chalice Gold Project, the company’s most advanced asset, hosts a JORC Mineral Resource of 191,000 oz at 2.7 g/t Au, with a resource growth drilling programme targeted to commence in Q3 CY26. Westgold Resources holds a 19.9% strategic interest in Corazon as part of the Chalice acquisition. The Two Pools Gold Project covers 537 km² of the Plutonic-Marymia Greenstone Belt, where Corazon’s geological reinterpretation identified a 20km-long greenstone belt previously mapped as granite.
Corazon’s portfolio expansion into the Plutonic-Marymia Greenstone Belt added 537 km² of ground where the company’s geological reinterpretation identified a 20km-long greenstone sequence previously mapped as granite, reframing the district-scale opportunity at Two Pools.
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What comes next for Corazon at Wembley and beyond
With maiden drilling validated, Corazon has a clear sequence of near-term catalysts for investors to track:
- Report remaining assays from holes 26FRC014–020 upon receipt from the laboratory.
- Design a follow-up drilling programme targeting strike and depth extensions of the confirmed Wembley Line mineralisation.
- Subject to those results, further evaluate the regional Wembley structure.
- Work toward an initial Exploration Target and, ultimately, a potential maiden MRE at Wembley.
- Advance exploration targeting across the broader Feather Cap project, including the high-priority Trudgeon Well and Durack East prospects.
It is important to note that any Exploration Target subsequently defined would be conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource at Wembley, and it is uncertain whether further exploration will result in one being estimated.
Beyond Wembley, investors have two additional near-term catalysts to watch: the anticipated commencement of resource growth drilling at Chalice in Q3 CY26, and the continued systematic exploration of the Two Pools Greenstone Belt, which remains at an early but genuinely district-scale stage of assessment.
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