Corazon Mining Ltd (ASX: CZN), an Australian mineral exploration and development company with a strategic focus on high-grade gold exploration in Western Australia, has announced its Quarterly Activities Report for the period ending 30 September 2025. The report highlights a transformational quarter for Corazon, marked by a strategic pivot towards gold exploration in Western Australia, primarily through the acquisition of the Two Pools Gold Project. This project is located approximately 60km north of the operating Plutonic Gold Mine.
The company entered a binding agreement to acquire the Two Pools Gold Project in the Gascoyne region, an area known for its multi-million-ounce gold deposits. Historical drilling at Two Pools has revealed high-grade, near-surface intercepts. Corazon has also expanded its landholding at the Two Pools Gold Project with a new tenement application covering the interpreted northwest plunge of a key mineralised corridor. Post-quarter, on 8 October, Corazon secured an option to acquire 80% of the Feather Cap Gold Project, adjacent to Westgold’s Durack Deposit. A review of historical data identified multiple high-priority drill targets at Feather Cap, further solidifying Corazon’s strategic position in the region.
Corporate updates included the appointment of Simon Coyle as Managing Director, tasked with leading the company’s new WA gold strategy. Corazon received firm commitments for a A$2.0 million placement to fund exploration at Two Pools and for working capital. The company also completed a strategic review of its asset portfolio, prioritising the newly acquired WA gold assets. Shareholder approval was sought and obtained for the Two Pools acquisition, the placement, and a 50-for-1 share consolidation.
Looking ahead, Corazon is undertaking project-wide geological reviews and developing systematic exploration programs to test high-priority targets at both Two Pools and Feather Cap. Planned activities include detailed geophysical analysis, on-ground exploration programs, heritage surveys, and drill program design. The company will also continue to evaluate its WA Gold portfolio for further accretive opportunities. At the close of the quarter, Corazon held approximately A$262,000 in cash, with an additional A$2.0 million received in October from sophisticated and professional investors.
