# CZN: Chalice First Assays Hit Broad, High-Grade Gold Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03149837 Publisher: asx Original announcement: 2026-10-07T21:23:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-07T22:21:38.229Z Atlas analysis updated: 2026-10-07T22:21:38.229Z - Company: Corazon Mining Limited - Ticker: CZN - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Drill results, Resource update - Extracted: 2026-10-07 22:21:39 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Corazon Mining Limited announced initial assay results from its maiden RC drilling program at the 100%-owned Chalice Gold Project in Western Australia, revealing broad zones of gold mineralization including a high-grade intercept of 4m at 9.93 g/t Au. These first two holes, drilled from the southern edge of the historical open pit, provide an encouraging early indication of continuity and potential for resource growth. The program is designed to test up to 1,000m of strike south of the pit, with a second rig arriving to accelerate drilling towards completion in November 2026. Reasoning: The first assay results from the maiden RC drilling program at Chalice returned broad, high-grade gold intercepts, indicating continuity and potential for resource growth, supported by good QA/QC. However, true widths are not yet known and collar accuracy is medium. - Positive factor: high\_grade\_intercept - Positive factor: broad\_intercepts - Positive factor: first\_assays\_from\_maiden\_program - Positive factor: indication\_of\_continuity - Positive factor: potential\_for\_resource\_growth - Positive factor: qa\_qc\_disclosed - Positive factor: competent\_person\_sign\_off - Positive factor: step\_out\_drilling\_extending\_mineralization - Negative factor: apparent\_width\_only - Negative factor: no\_umpire\_lab\_checks\_yet - Negative factor: handheld\_gps\_for\_collar\_locations Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 8 ## Classification and evidence **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The intercept of 4m @ 9.93 g/t Au exceeds the open pit exceptional threshold of 5 g/t Au. Evidence · text > 4 m @ 9.93 g/t Au from 207 m \(26CRC002\) **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The release explicitly states that intercepts are reported as downhole widths and true widths are not yet known. Evidence · text > Intercepts are reported as downhole widths; true widths are not yet known. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release details QA/QC procedures including certified reference materials, blanks, lab duplicates, and states that Bureau Veritas is NATA-accredited to ISO/IEC 17025 standards. Evidence · text > Quality assurance and quality control \(QAQC\) were maintained through insertion of certified reference materials \(CRMs\), blanks and lab duplicates at scheduled rates of 5%, 2% and 2%, respectively. No field duplicates were taken. Samples were assayed by Bureau Veritas via 40 g fire assay with AAS finish \(detection limit 0.01 ppm Au\). QAQC results were reviewed and deemed satisfactory, showing acceptable accuracy and precision. No umpire lab checks have yet been undertaken. Bureau Veritas is NATA-accredited to ISO/IEC 17025 standards. **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: The cut-off grade of 0.5 g/t Au and maximum internal dilution of 2m are clearly stated for reported intervals. Evidence · text > Intercepts are calculated using a 0.5 g/t Au lower cut-off with a maximum of 2 m of internal dilution, and no top-cut applied. **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling program is described as 'stepping out progressively south and up-plunge of known mineralisation' and 'testing continuity of mineralisation up to 1,000 m south of the open pit'. Evidence · text > Drilling is now stepping out progressively south and up-plunge of known mineralisation. The 50-hole, 7,500 m Phase 1 program is testing continuity of mineralisation up to 1,000 m south of the open pit and to 200 m vertical depth. **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The JORC table mentions the program is 'planned to infill drilling at approximately 40 m drill centres'. Evidence · text > The planned 2026 program comprises 50 RC holes for approximately 7,500 m, planned to infill drilling at approximately 40 m drill centres, immediately south of the Chalice open pit before stepping out to 80 m line spacing with 40 m drill centres along section to the south of the open pit. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr William Stewart, a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM\), is named as the Competent Person responsible for the Exploration Results. Evidence · text > The information in this announcement that relates to Corazon’s Exploration Results is based on, and fairly represents, information and supporting documentation compiled by Mr William Stewart, full-time employee and shareholder of Corazon Mining Limited. Mr Stewart is a Member of the Australasian Institute of Mining and Metallurgy \(AusIMM Member No. 224335\) and has sufficient experience relevant to the style of mineralisation, type of deposit under consideration, and the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves \(JORC Code\). ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Drill Results (8) ### 26CRC002 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-0) Chalice · gold #### Identity - Hole ID: 26CRC002 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 9.93 - Grade Unit: g/t - Intercept: 4 m - From: 207 m - To: 211 m - Hole Depth: 234 m - Intercept Depth: 207 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC002:207-211 - Mining Method: open\_pit #### Location - Easting: 359361 - Northing: 6478649 - Elevation: 348 m - Azimuth: 91 ° - Dip: -55 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Exceptional gold grade of 9.93 g/t over 4m from a new exploration hole, contributing to resource growth potential. - Positive factor: exceptional\_grade - Positive factor: strong\_grade\_width\_product - Positive factor: step\_out\_extension - Negative factor: apparent\_width\_only Evidence · text > 4 m @ 9.93 g/t Au from 207 m \(26CRC002\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC001 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-1) Chalice · gold #### Identity - Hole ID: 26CRC001 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.26 - Grade Unit: g/t - Intercept: 27 m - From: 180 m - To: 207 m - Hole Depth: 240 m - Intercept Depth: 180 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC001:180-207 - Mining Method: open\_pit #### Location - Easting: 359366 - Northing: 6478632 - Elevation: 348 m - Azimuth: 60 ° - Dip: -56 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Broad intercept of 27m at moderate gold grade of 1.26 g/t, indicating good continuity and supporting resource growth. - Positive factor: strong\_continuity\_width - Positive factor: strong\_grade\_width\_product - Positive factor: step\_out\_extension - Negative factor: apparent\_width\_only Evidence · text > 27 m @ 1.26 g/t Au from 180 m \(26CRC001\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC001 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-2) Chalice · gold #### Identity - Hole ID: 26CRC001 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.43 - Grade Unit: g/t - Intercept: 12 m - From: 180 m - To: 192 m - Hole Depth: 240 m - Intercept Depth: 180 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC001:180-192 - Mining Method: open\_pit #### Location - Easting: 359366 - Northing: 6478632 - Elevation: 348 m - Azimuth: 60 ° - Dip: -56 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Higher-grade sub-interval within a broader zone, confirming good mineralization. - Positive factor: moderate\_grade - Positive factor: moderate\_continuity\_width - Negative factor: apparent\_width\_only Evidence · text > incl. 12 m @ 1.43 g/t Au from 180 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC001 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-3) Chalice · gold #### Identity - Hole ID: 26CRC001 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.42 - Grade Unit: g/t - Intercept: 7 m - From: 200 m - To: 207 m - Hole Depth: 240 m - Intercept Depth: 200 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC001:200-207 - Mining Method: open\_pit #### Location - Easting: 359366 - Northing: 6478632 - Elevation: 348 m - Azimuth: 60 ° - Dip: -56 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Another higher-grade sub-interval within the broader zone, supporting continuity. - Positive factor: moderate\_grade - Negative factor: apparent\_width\_only Evidence · text > and 7 m @ 1.42 g/t Au from 200 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC002 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-4) Chalice · gold #### Identity - Hole ID: 26CRC002 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.29 - Grade Unit: g/t - Intercept: 22 m - From: 172 m - To: 194 m - Hole Depth: 234 m - Intercept Depth: 172 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC002:172-194 - Mining Method: open\_pit #### Location - Easting: 359361 - Northing: 6478649 - Elevation: 348 m - Azimuth: 91 ° - Dip: -55 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Broad intercept of 22m at moderate gold grade of 1.29 g/t, indicating good continuity and supporting resource growth. - Positive factor: strong\_continuity\_width - Positive factor: moderate\_grade\_width\_product - Positive factor: step\_out\_extension - Negative factor: apparent\_width\_only Evidence · text > 22 m @ 1.29 g/t Au from 172 m \(26CRC002\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC002 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-5) Chalice · gold #### Identity - Hole ID: 26CRC002 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.56 - Grade Unit: g/t - Intercept: 7 m - From: 173 m - To: 180 m - Hole Depth: 234 m - Intercept Depth: 173 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC002:173-180 - Mining Method: open\_pit #### Location - Easting: 359361 - Northing: 6478649 - Elevation: 348 m - Azimuth: 91 ° - Dip: -55 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Higher-grade sub-interval within a broader zone, confirming good mineralization. - Positive factor: moderate\_grade - Negative factor: apparent\_width\_only Evidence · text > incl. 7 m @ 1.56 g/t Au from 173 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC002 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-6) Chalice · gold #### Identity - Hole ID: 26CRC002 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 2.08 - Grade Unit: g/t - Intercept: 5 m - From: 182 m - To: 187 m - Hole Depth: 234 m - Intercept Depth: 182 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC002:182-187 - Mining Method: open\_pit #### Location - Easting: 359361 - Northing: 6478649 - Elevation: 348 m - Azimuth: 91 ° - Dip: -55 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Another higher-grade sub-interval within the broader zone, supporting continuity. - Positive factor: strong\_grade - Negative factor: apparent\_width\_only Evidence · text > and 5 m @ 2.08 g/t Au from 182 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ### 26CRC002 [Link to this fact](https://atlas-staging.minestarters.com/news/czn-chalice-first-assays-hit-broad-high-grade-gold--1a1e2183-4acc-4f26-9e15-1187697b0433#fact-drill-facts-7) Chalice · gold #### Identity - Hole ID: 26CRC002 - Project: Chalice - Commodity: gold - Region: australia\_wa - Reported Region: australia\_wa - Ticker: CZN #### Geometry - Grade: 1.01 - Grade Unit: g/t - Intercept: 2 m - From: 161 m - To: 163 m - Hole Depth: 234 m - Intercept Depth: 161 m #### Classification - Deposit Type: orogenic - Program: exploration - Sample Type: drill - Group ID: 26CRC002:161-163 - Mining Method: open\_pit #### Location - Easting: 359361 - Northing: 6478649 - Elevation: 348 m - Azimuth: 91 ° - Dip: -55 ° - Loc. Confidence: medium - Loc. Source: document #### QA/QC - Laboratory: Bureau Veritas - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks, duplicates, umpire #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au - Dilution Disclosed: Yes - Max Dilution: 2 m #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Additional gold mineralization in hole 26CRC002. - Positive factor: moderate\_grade - Negative factor: apparent\_width\_only Evidence · text > 2 m @ 1.01 g/t Au from 161 m #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: cutoff\_grade and internal dilution are both stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.