Corazon Moves to 80% Ownership of Feather Cap

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Corazon Mining (ASX: CZN)
Announced that its wholly owned subsidiary, Fast Greens Pty, has exercised its option to acquire an 80% interest in the Feather Cap Gold Project from RBH Mining Pty Ltd.

The exercise converts Corazon’s October 2025 option into a controlling, long-term interest, securing the Company’s position at Feather Cap alongside the Chalice and Two Pools Gold Projects in its Western Australian.

 

 

 

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Corazon Mining

 

 

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Corazon Mining ASX: CZN
Stage Exploration / Development
Metals Gold, battery metals
Market cap A$27 million @ A$0.11c
Location Western Australia
Website www.corazon.com.au

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Corazon Moves to 80% Ownership of Feather Cap After High-Grade Wembley Drilling

Corazon Mining Limited (ASX: CZN) (“Corazon” or the “Company”) is pleased to announce that its wholly owned subsidiary, Fast Greens Pty Ltd (Fast Greens), has exercised its option to acquire an 80% interest in the Feather Cap Gold Project (Feather Cap or the Project) from RBH Mining Pty Ltd (RBH).

The exercise converts Corazon’s October 2025 option into a controlling, long-term interest, securing the Company’s position at Feather Cap alongside the Chalice and Two Pools Gold Projects in its Western Australian.
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Highlights

•Corazon has exercised its exclusive option to acquire an 80%interest in the Feather Cap Gold Project, converting its option into a controlling, long-term interest.
•The decision follows maiden RC drilling at the Wembley prospect, which confirmed and extended shallow, high-grade gold along the historic Wembley Line, with standout intercepts including1:
o4 m @ 10.60 g/t Au from 66 m (26FRC010);
o4 m @ 9.20 g/t Au from 65 m (26FRC004);
o2 m @ 5.70 g/t Au from 64 m (26FRC003), and2 m @ 1.46 g/t Au from 79 m;
o4 m @ 2.84 g/t Au from 68 m (26FRC002)
•The best intercept (26FRC010) sits approximately 60m east of historic drilling, and the mineralised structure remains open at depth, pointing to scale beyond the historic footprint.
•Historical drilling at Wembley returned7m @ 6.21 g/t Au from 6m (WLRD10), while historical drilling at Jigsaw/Durack East, along strike from Great Boulder Resources’ Durack deposit,returned 20m @ 3.01 g/t Au from 40m (JR60).
•Feather Cap complements the resource-stage Chalice Gold Project (191,000oz JORC MRE) and the district-scale Two Pools discovery opportunity,giving Corazon multiple, independent drilling catalysts across three established WA gold provinces.
•Stagedconsiderationandaclearpathwayto100%with$600,000 payable on joint venture commencement and $1 million deferred for up to four years, with RBH’s 20% interest converting toa 3.5% net smelter royalty at final investment decision.
•Follow-up drilling at Wembley is being designed to test strike and depth extensions,with the objective of supporting an initial Exploration Target and a potential maiden MRE.
The option was granted under a binding Heads of Agreement (HoA) signed in October
2025. Fast Greens delivered its Option Exercise Notice to RBH on 6 October 2026.

The decision follows Corazon’s maiden 20-hole, 1,936 m reverse circulation (RC) program at Wembley, completed in August 2026. The program confirmed shallow, high-grade gold along the historic Wembley Line and extended it along strike to the east.
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Corazon Mining Limited Managing Director, Simon Coyle, commented:


“Exercising the Feather Cap option was a clear decision on the back of our Wembley results. Our first drilling program repeated the high-grade, historical intercepts, extended them along strike, and showed the Wembley Line to be a coherent, structurally controlled gold system that remains open at depth.
“Intercepts of 4 m at 10.6 g/t and 4 m at 9.2 g/t gold from a first pass are exactly what we set out to find. Moving to 80% of Feather Cap gives Corazon control of a 154 km² land position, including a granted Mining Lease, in a proven district next to existing infrastructure.
“With Chalice providing a resource base to grow, Two Pools offering district-scale discovery potential and Feather Cap delivering shallow, high-grade targets, Corazon now has three distinct pathways to value in Western Australia. We look forward to returning to Wembley with follow-up drilling.”
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Disclosure

At the time of writing the author holds shares in Corazon Mining.

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