Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to
announce the remaining results from the recently completed Phase
II, 32 hole (10,520m) reverse circulation drilling program at its
Berta property, located approximately 20km west of the
PanAust/Codelco owned Inca de Oro feasibility stage project and
30km southeast of Anglo American's Manto Verde copper heap leach
mine, in the III Region of Chile. Initial assay results from 20 of
these holes were released on June 13th 2012. The latest results are
shown on Table 1 below, including additional results from hole
BR-41, which was extended after bottoming in mineralization. Coro
announced the terms for the 100% acquisition of Berta in its news
release of June 13th 2011, and results from its Phase I drilling in
its news release of September 27th 2011.
Alan Stephens, President and CEO of Coro commented, "Our
objective at Berta is to define a relatively modest sized oxide
deposit that can be placed into production quickly and cheaply, and
thus generate cash flow for our Chilean exploration program. The
reported results are mainly from the lower grade, southwest
extension of the Berta Sur area. An infill grid drilling reverse
circulation drilling program on 50m centers is in progress, in
order to produce an NI43-101 compliant resource estimate for the
higher grade oxide material at Berta Sur and Berta Central.
Sampling of diamond drill core and surface trenches is underway to
provide material for a preliminary metallurgical column test work
program."
Table 1: Significant intersections
-------------------------------------------------------------------------
Hole from to m %CuT %Mo %CuEq Type Area
-------------------------------------------------------------------------
BR-41 0 40 40 0.35 0.003 0.36 Oxide Norte
-------------------------------------------------------------------------
and 228 314 86 0.40 0.032 0.52 Sulphide Norte
-------------------------------------------------------------------------
BR-46 0 48 48 0.28 0.002 0.29 Oxide Sur
-------------------------------------------------------------------------
and 68 92 24 0.20 0.007 0.22 Mixed Sur
-------------------------------------------------------------------------
BR-47 14 36 22 0.20 0.001 0.20 Oxide Sur
-------------------------------------------------------------------------
BR-48 32 102 70 0.27 0.005 0.29 Oxide Sur
-------------------------------------------------------------------------
and 118 148 30 0.20 0.005 0.21 Oxide
-------------------------------------------------------------------------
BR-50 20 66 46 0.21 0.003 0.22 Oxide Sur
-------------------------------------------------------------------------
BR-54 8 18 10 0.23 0.006 0.26 Oxide Sur
-------------------------------------------------------------------------
and 30 40 10 0.32 0.010 0.36 Oxide Sur
-------------------------------------------------------------------------
and 50 62 12 0.24 0.003 0.25 Mixed Sur
-------------------------------------------------------------------------
BR-56 36 46 10 0.38 0.003 0.39 Oxide Sur
-------------------------------------------------------------------------
No significant intersections were received from holes BR-40,
BR-49, BR-51 to BR-53 and BR-55. All drill hole locations are shown
on the attached map and table. Copper equivalents were calculated
at $3.00/lb Cu and $12/lb Mo, with no adjustment for metallurgical
recoveries. In particular, no molybdenum would be recovered from
the envisaged oxide operation.
About Berta
Mineralization, as defined by drilling, mapping and grid
geochemistry, occurs in three principal areas; Berta Sur, Central
and Norte, and is associated with sub-vertical, elongate
potassically altered porphyry intrusive bodies and related
hydrothermal and intrusive breccias, emplaced into a tonalite
stock. At Berta Sur, this mineralization is present within an area
of approximately 500m by 300m, oriented ENE, with oxidation
extending from surface to depths of 50m in the east to greater than
150m in the west. Berta Central comprises a smaller body,
sub-parallel to and located immediately north of, Berta Sur and was
the focus for previous artisanal mining. Berta Norte comprises
several, discreet, NW oriented zones of mineralization,
individually 25-85m in width and 100-250m in strike length,
partially gravel covered, and mostly intersected at depth as
sulphides in this phase of drilling. Copper and molybdenum
mineralization broadly occur together at Berta although copper can
occur without molybdenum and vice versa.
Berta has previously been explored by two major mining companies
in the 1990's who completed wide spaced shallow percussion drilling
(48 holes, 1,090m), reverse circulation ("RC") drilling (49 holes,
6,033m), and bulldozer trenching. More recently, Grandcru Resources
Corp, completed diamond drilling (9 holes, 3,311.4m) in 2006-2007.
All of the previous holes were assayed for total copper (%CuT), and
the oxide sections of 42 of the RC holes were assayed for acid
soluble copper. With the exception of 42 of these RC holes, all
holes were assayed for molybdenum. Coro completed a 24 hole, 4360m
RC program in 2011.
All Coro RC holes were sampled on a 2 m continuous basis, with
samples riffle split on site and one quarter sent to the Andes
Analytical Assaying laboratory in Copiapo for preparation and then
to their assay laboratory in Santiago. A second quarter was stored
on site for reference. Samples were transported to the laboratory
by Andes Analytical Assaying under the supervision of Minera Coro
Chile Ltda's contractor, Geominco, who also logged the drill
cuttings. Samples were prepared using the following standard
protocol: drying, crushing to better than 80% passing -10#,
homogenizing, splitting and pulverizing a 400 g subsample to 95%
passing -150#. All holes were assayed for CuT and Mo, with
intersections containing greater than 0.1% CuT also assayed for CuS
and Au. A full QA/QC program, involving insertion of appropriate
blanks, standards and duplicates was employed with acceptable
results.
Sergio Rivera, Vice President of Exploration, Coro Mining Corp.,
a geologist with more than 30 years of experience and a member of
the Colegio de Geologos de Chile and of the Instituto de Ingenieros
de Minas de Chile, was responsible for the design and execution of
the drilling program and is the Qualified Person for the purposes
of NI 43-101.
To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/c730m1.pdf
Table 2: UTM Collar coordinates for Coro Phase II RC holes.
----------------------------------------------------------------
Hole East North Elevation Azimuth Dip TD
----------------------------------------------------------------
BR-25 394931 7044481 1725 160 -60 400
----------------------------------------------------------------
BR-26 394902 7045679 1677 230 -60 400
----------------------------------------------------------------
BR-27 394722 7045538 1688 230 -60 300
----------------------------------------------------------------
BR-28 394800 7045344 1660 230 -60 300
----------------------------------------------------------------
BR-29 394973 7045481 1667 230 -60 250
----------------------------------------------------------------
BR-30 395129 7045604 1659 230 -60 400
----------------------------------------------------------------
BR-31 394863 7045199 1687 230 -60 290
----------------------------------------------------------------
BR-32 395126 7045347 1682 230 -60 400
----------------------------------------------------------------
BR-33 395254 7045478 1678 230 -60 400
----------------------------------------------------------------
BR-34 395366 7045281 1707 230 -60 374
----------------------------------------------------------------
BR-35 394961 7044991 1696 230 -60 368
----------------------------------------------------------------
BR-36 394974 7045030 1695 50 -60 400
----------------------------------------------------------------
BR-37 395160 7044915 1728 50 -60 400
----------------------------------------------------------------
BR-38 395260 7045200 1704 230 -60 400
----------------------------------------------------------------
BR-39 394658 7044913 1711 160 -60 288
----------------------------------------------------------------
BR-40 394734 7044666 1706 160 -60 336
----------------------------------------------------------------
BR-41 395181 7044816 1716 160 -60 400
----------------------------------------------------------------
BR-42 395041 7044336 1741 160 -60 400
----------------------------------------------------------------
BR-43 395067 7044265 1755 160 -60 300
----------------------------------------------------------------
BR-44 394896 7044430 1733 160 -60 300
----------------------------------------------------------------
BR-45 394965 7044243 1755 160 -60 300
----------------------------------------------------------------
BR-46 394965 7044243 1755 340 -60 200
----------------------------------------------------------------
BR-47 394884 7044164 1757 160 -60 300
----------------------------------------------------------------
BR-48 394819 7044214 1751 160 -60 300
----------------------------------------------------------------
BR-49 394864 7044230 1753 160 -60 300
----------------------------------------------------------------
BR-50 394745 7044128 1756 160 -60 250
----------------------------------------------------------------
BR-51 394650 7044090 1745 160 -60 250
----------------------------------------------------------------
BR-52 394600 7044500 1737 270 -60 400
----------------------------------------------------------------
BR-53 394420 7044020 1714 160 -60 216
----------------------------------------------------------------
BR-54 395098 7044324 1744 160 -60 300
----------------------------------------------------------------
BR-55 394688 7043998 1747 160 -60 300
----------------------------------------------------------------
BR-56 394780 7044032 1755 160 -60 298
----------------------------------------------------------------
CORO MINING CORP.
Alan Stephens, President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining
company focused on medium-sized base and precious metals deposits
in Latin America. The Company intends to achieve this through the
exploration for, and acquisition of, projects that can be developed
and placed into production. Coro's properties include the advanced
San Jorge copper-gold project, in Argentina, and the Berta, El
Desesperado, Chacay, Llancahue, and Celeste copper exploration
properties located in Chile.
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Such
forward-looking statements or information, including but not
limited to those with respect to the prices of copper and
molybdenum, metallurgical results and resources, involve known and
unknown risks, uncertainties, and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements or information. Such factors include, among others, the
actual prices of copper, the factual results of current
exploration, development and mining activities, changes in project
parameters as plans continue to be evaluated, as well as those
factors disclosed in the Company's documents filed from time to
time with the securities regulators in the Provinces of British
Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick,
Nova Scotia, Prince Edward Island and Newfoundland and
Labrador.
Contacts: Coro Mining Corp. Michael Philpot Executive Vice
President (604) 682 5546investor.info@coromining.com
www.coromining.com
Marimaca Copper (TSX:MARI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marimaca Copper (TSX:MARI)
Historical Stock Chart
From Jul 2023 to Jul 2024
