Australia-based exploration company Corazon Mining has raised a total of $3m to fund its drilling operations at the Top Up Rise project in Western Australia.

The miner recently completed the share purchase plan raising $600,000 from existing shareholders, while securing additional $900,000 through shortfall placement.

Earlier on 21 January 2013, Corazon also completed the two tranche placement to raise $1.5m.

Corazon managing director Brett Smith said that the support received by the company from its shareholders had boosted its confidence to further operations at its projects.

"We are now fully funded for the first phase of exploration at the TUR Project, where the targeted model is a large copper-gold deposit and we are keen to get on the ground and test this very significant anomaly," added Smith.

Corazon, meanwhile, is set to commence ground exploration operations in March 2013 along with plans for high impact drill in the following months.

The company said in its statement, "With over $3.5 million in cash, investments and receivables available for exploration, Corazon has the capacity to also advance and add value to its Canadian projects."