Corazon Gold Corp. (CGW.V) today provided an update of this
year's activities on the Goldfield Bonanza Project and to announce
that the Company has successfully renegotiated the terms of the
option agreement it holds to acquire the Goldfield Bonanza
Corazon has successfully revised the terms of the Option
Agreement with Lode Star Gold Inc. (Optionor) and has reduced a
payment due in April 2013 from $400,000 to $50,000. The Company
will make another payment of $50,000 on October 7, 2013 and
$300,000 in April 2014, $800,000 in April 2015 with a final payment
of $1,600,000 in April 2016. Corazon has also reduced the Area of
) around the Goldfield Bonanza property from one mile to one-half
mile. This reduced AOI will allow Corazon to increase its land
position elsewhere in the Goldfield area to explore new targets.
Corazon will issue 500,000 shares to Lode Star in consideration for
The Company has focused much of its activities this year on the
Goldfield Project, post its business combination with ICN
Resources. Geologic work has identified numerous new target areas
for further exploration. In December 2012, additional
bio-geochemical samples were collected in an expanded
phytogeochemical survey, following up on the positive results from
an initial orientation survey. Reno, Nevada based Minerals
Exploration & Environmental Geochemistry, interpreted results
from this sampling earlier this year and identified new priority
The author and exploration geochemist, Shea Clark Smith, stated:
"The author notes that gold concentrations in these samples are
exceptionally high for sagebrush and rabbit brush in Nevada.
Concentrations above 5 ppb Au are rare, and most of the samples
from this survey are 5-80 ppb. This attests to the probability that
ground water is interacting with significant gold concentrations in
the subsurface, near and below the ground water saturation zone."
He also noted: "Significant gold concentrations ranging from 2-120
ppb represent the top 99th percentile of concentrations normally
found in Nevada phytogeochemical data."
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