Corazon Identifies New Gold Growth Targets at Chalice

Konrad Forrest
Corazon Mining

15 July 2026 | Western Australia - Corazon Mining has identified additional high-grade gold mineralisation outside the current Mineral Resource at its Chalice Gold Project in Western Australia.

A systematic review of historical drilling has highlighted multiple intercepts outside the current 191,000oz at 2.7 g/t gold JORC 2012 Mineral Resource.

Near-surface intercepts outside the current resource include:

  • 4.0m at 8.84 g/t gold from 55m
  • 3.0m at 7.38 g/t gold from 28m
  • 3.0m at 4.89 g/t gold from 35m
  • 2.0m at 4.39 g/t gold from 24m

Corazon also identified deeper unmodelled intercepts beneath and beyond the existing underground workings, including:

  • 5.1m at 2.44 g/t gold from 578.6m
  • 6.9m at 2.36 g/t gold from 581.9m
  • 3.8m at 4.03 g/t gold from 514.3m
  • 5.0m at 2.45 g/t gold from 291m

Managing Director Simon Coyle said the review identified a coherent near-surface zone close to the current pit design, as well as a second zone extending high-grade mineralisation below the existing resource.

Why it matters: Chalice is an advanced WA gold project on a granted Mining Lease in the Higginsville region, one of Western Australia’s most productive gold districts.

The newly identified near-surface mineralisation sits close to the existing pit design and may provide a priority target for low-cost open pit expansion, subject to further drilling and technical work.

Corazon is now finalising plans for an initial 10,000m Phase 1 drilling program, targeted to commence in Q3 CY2026. The program will initially focus on the near-surface priority zone, with additional areas to be tested as planning advances.

The company is also reviewing cut-off grades and pit shell assumptions in light of the current gold price environment, which is materially higher than the assumptions used in the existing resource estimate.

For Western Australia’s gold sector, Chalice adds another brownfields resource growth story, with historical data review now feeding directly into a near-term drilling campaign.

Source: Corazon Mining ASX announcement, “Chalice Data Review Identifies Additional Gold Mineralisation South of Pit and Outside Underground Workings”, 15 July 2026.