Coro Reports Results From Infill Drilling Program at Berta Copper Project, Highlighted by 100 Meters At 0.68%CuT
September 19 2012 - 12:51PM
Marketwired Canada
Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce the
results from the recently completed Phase III, 36 hole (4,028m) infill reverse
circulation drilling program at its Berta property, located approximately 20km
west of the village of Inca de Oro, in the III Region of Chile. Significant
intersections from this infill program, which was completed on 50m centres, are
shown on Table 1 below. Coro announced the terms for the 100% acquisition of
Berta in its news release of June 13th 2011.
Alan Stephens, President and CEO of Coro, commented, "The infill drilling has
confirmed that Berta has potential to host a relatively modest sized, near
surface, oxide deposit that we believe can be placed into production quickly and
cheaply, and thus generate cash flow for our Chilean exploration program. We
will now proceed to produce an NI43-101 compliant resource estimate for Berta
Sur and Berta Central. A preliminary metallurgical column test work program is
in progress and an environmental base line study will be initiated shortly."
Table 1: Significant intersections
--------------------------------------------------------------------------
Hole from to m %CuT %CuS %Mo %CuEq Type Area
--------------------------------------------------------------------------
BR-57 0 80 80 0.41 0.31 0.010 0.45 Oxide Sur
and 86 96 10 0.29 0.002 0.30 Sulphide
--------------------------------------------------------------------------
BR-58 16 108 92 0.64 0.008 0.67 Both
incl 16 46 30 0.54 0.32 0.005 0.56 Oxide
incl 46 54 8 0.83 0.001 0.83 Sulphide Sur
incl 54 84 30 0.75 0.48 0.006 0.77 Oxide
incl 84 108 24 0.57 0.016 0.63 Sulphide
--------------------------------------------------------------------------
BR-61 42 90 48 0.26 0.20 0.008 0.29 Oxide Sur
--------------------------------------------------------------------------
BR-62 46 62 16 0.32 0.21 0.003 0.33 Oxide Sur
--------------------------------------------------------------------------
BR-63 0 102 102 0.59 0.016 0.65 Both
incl 0 66 66 0.59 0.43 0.005 0.61 Oxide Sur
incl 66 102 36 0.58 0.036 0.72 Sulphide
--------------------------------------------------------------------------
BR-64 16 24 8 0.25 0.14 0.004 0.27 Oxide
and 30 46 16 0.25 0.16 0.002 0.26 Oxide Sur
and 68 80 12 0.27 0.20 0.004 0.29 Oxide
--------------------------------------------------------------------------
BR-65 0 22 22 0.53 0.37 0.013 0.58 Oxide Sur
and 60 74 14 0.52 0.36 0.006 0.54 Oxide
--------------------------------------------------------------------------
BR-66 24 34 10 0.70 0.54 0.012 0.75 Oxide Sur
and 62 72 10 0.22 0.15 0.007 0.25 Oxide
--------------------------------------------------------------------------
BR-67 22 90 68 0.55 0.048 0.74 Both
incl 22 66 44 0.66 0.48 0.061 0.90 Oxide Sur
incl 66 90 24 0.34 0.023 0.43 Sulphide
--------------------------------------------------------------------------
BR-68 4 34 30 0.31 0.21 0.006 0.33 Oxide Sur
and 40 62 22 0.25 0.18 0.007 0.28 Oxide
--------------------------------------------------------------------------
BR-69 0 72 72 0.31 0.22 0.007 0.34 Oxide Sur
--------------------------------------------------------------------------
BR-70 68 120 52 0.25 0.040 0.41 Both
incl 68 84 16 0.24 0.15 0.114 0.70 Oxide Sur
incl 84 120 36 0.25 0.007 0.28 Sulphide
--------------------------------------------------------------------------
BR-71 0 52 52 0.21 0.13 0.002 0.22 Oxide Sur
and 64 106 42 0.23 0.003 0.24 Sulphide
--------------------------------------------------------------------------
BR-72 44 58 14 0.38 0.26 0.026 0.48 Oxide Sur
--------------------------------------------------------------------------
BR-73 18 70 52 0.58 0.46 0.014 0.64 Oxide Sur
--------------------------------------------------------------------------
BR-74 0 44 44 0.41 0.26 0.005 0.43 Oxide Sur
--------------------------------------------------------------------------
BR-79 10 30 20 0.25 0.15 0.002 0.26 Oxide Sur
and 74 86 12 0.31 0.003 0.32 Sulphide
--------------------------------------------------------------------------
BR-80 0 34 34 0.30 0.20 0.002 0.31 Oxide Sur
--------------------------------------------------------------------------
BR-81 0 8 8 0.30 0.20 0.003 0.31 Oxide Sur
--------------------------------------------------------------------------
BR-82 0 100 100 0.68 0.025 0.78 Both
incl 0 38 38 0.46 0.31 0.024 0.56 Oxide
incl 38 46 8 1.71 0.096 2.09 Sulphide
incl 46 56 10 0.98 0.68 0.048 1.17 Oxide Sur
incl 56 72 16 0.76 0.010 0.80 Sulphide
incl 72 76 4 0.76 0.61 0.009 0.80 Oxide
incl 76 100 24 0.49 0.007 0.52 Sulphide
--------------------------------------------------------------------------
BR-86 50 104 54 0.24 0.01 0.28 Both
incl 50 82 32 0.23 0.15 0.004 0.25 Oxide Central
incl 82 104 22 0.25 0.019 0.33 Sulphide
--------------------------------------------------------------------------
BR-89 108 120 12 0.22 0.020 0.30 Sulphide Central
--------------------------------------------------------------------------
BR-90 4 14 10 1.37 1.22 0.008 1.40 Oxide Central
--------------------------------------------------------------------------
BR-91 0 42 42 0.67 0.53 0.009 0.71 Oxide Central
--------------------------------------------------------------------------
No significant intersections were received from holes BR-59, BR-60, BR-75 to
BR-78, BR-83 to 85, BR-87 to 88 and BR-92, which were drilled at the edge of the
known mineralization. All drill hole locations are shown on Figure 1 and a
typical cross section is shown on Figure 2. 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 a roughly horseshoe shape area
with oxidation extending from surface to depths of 50m to 100m. Berta Central
comprises a smaller body, located immediately north of Berta Sur, which was the
focus for previous artisanal mining, as well as several smaller NW oriented
zones. 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 Coro's
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 these third party 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 has completed a total of 92 RC holes, (18,872m) in three phases starting in
June 2011. For completeness, all significant intersections from Coro's Phase I
and II drilling are shown on Table 2, which includes previously unreported CuS
results, and minor adjustments to previously reported intervals. Collar
coordinates for all Coro RC holes are shown on Table 3.
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 oxide
intersections containing greater than 0.1%CuT also assayed for CuS. 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. Alan Stephens, FIMMM, President and CEO, of Coro
Mining Corp, a geologist with more than 36 years of experience is responsible
for the contents of this news release.
To view Figures 1 and 2 please click on the following link:
http://media3.marketwire.com/docs/COP0919.pdf
Table 2; Significant intersections from Phase I and II Coro RC holes
--------------------------------------------------------------------------
Hole from to m %CuT %CuS %Mo %CuEq Type Area
--------------------------------------------------------------------------
BR-01 2 54 52 0.26 0.003 0.27 Oxide Sur
--------------------------------------------------------------------------
BR-09 74 130 56 0.22 0.023 0.31 Sulphide Sur
--------------------------------------------------------------------------
BR-12 88 100 12 0.30 0.005 0.32 Sulphide Sur
--------------------------------------------------------------------------
BR-13 6 16 10 0.33 0.23 0.008 0.36 Oxide
BR-13 76 96 20 0.31 0.26 0.051 0.51 Oxide Sur
BR-13 152 174 22 0.16 0.127 0.67 Sulphide
--------------------------------------------------------------------------
BR-15 2 70 68 0.23 0.13 0.004 0.25 Oxide Sur
BR-15 140 200 60 0.20 0.030 0.32 Sulphide
--------------------------------------------------------------------------
BR-16 30 200 170 0.19 0.004 0.21 Both
incl 30 60 30 0.22 0.16 0.006 0.24 Oxide Sur
incl 60 200 140 0.18 0.003 0.21 Sulphide
--------------------------------------------------------------------------
BR-17 0 200 170 0.58 0.021 0.66 Both
incl 0 56 56 0.92 0.69 0.009 0.96 Oxide
incl 56 70 14 0.99 0.016 1.05 Sulphide Sur
incl 70 92 22 0.37 0.25 0.013 0.42 Oxide
incl 92 200 108 0.40 0.031 0.52 Sulphide
--------------------------------------------------------------------------
BR-18 0 130 130 0.38 0.047 0.57 Both
incl 0 88 88 0.44 0.32 0.055 0.66 Oxide
incl 88 130 42 0.24 0.031 0.36 Sulphide Sur
incl 144 156 12 0.84 0.005 0.86 Sulphide
incl 188 200 12 0.20 0.003 0.21 Sulphide
--------------------------------------------------------------------------
BR-19 0 6 6 0.36 0.23 0.004 0.38 Oxide Sur
and 20 50 30 0.22 0.13 0.003 0.23 Oxide
--------------------------------------------------------------------------
BR-20 14 26 12 0.29 0.17 0.002 0.30 Oxide
and 32 36 4 0.47 0.22 0.004 0.49 Mixed
and 68 76 8 0.33 0.14 0.001 0.33 Mixed Sur
and 76 98 22 0.23 0.004 0.25 Sulphide
and 170 180 10 0.36 0.013 0.41 Sulphide
--------------------------------------------------------------------------
BR-23 0 42 42 0.21 0.11 0.001 0.21 Oxide
and 62 76 14 0.26 0.14 0.002 0.27 Oxide Sur
and 84 102 18 0.18 0.11 0.001 0.18 Oxide
and 116 136 20 0.22 0.09 0.004 0.24 Mixed
--------------------------------------------------------------------------
BR-25 222 296 74 0.37 0.034 0.51 Sulphide Sur
--------------------------------------------------------------------------
BR-26 4 140 136 0.30 0.031 0.42 Both
incl 4 82 78 0.21 0.05 0.008 0.24 Oxide Norte
incl 88 140 52 0.46 0.069 0.74 Sulphide
--------------------------------------------------------------------------
BR-27 82 134 52 0.24 0.002 0.25 Sulphide Norte
--------------------------------------------------------------------------
BR-28 32 200 168 0.19 0.043 0.36 Both
incl 32 84 52 0.17 0.05 0.006 0.19 Oxide Norte
incl 86 200 114 0.20 0.06 0.44 Sulphide
--------------------------------------------------------------------------
BR-29 52 64 12 0.21 0.14 0.004 0.23 Oxide Norte
--------------------------------------------------------------------------
BR-30 372 400 28 0.17 0.008 0.20 Sulphide Norte
--------------------------------------------------------------------------
BR-32 160 294 134 0.36 0.128 0.87 Sulphide Norte
--------------------------------------------------------------------------
BR-33 70 138 68 0.30 0.006 0.32 Sulphide Norte
--------------------------------------------------------------------------
BR-37 304 340 36 0.61 0.097 1.00 Sulphide Norte
--------------------------------------------------------------------------
BR-41 0 40 40 0.35 0.27 0.003 0.36 Oxide Central
and 228 314 86 0.40 0.032 0.53 Sulphide
--------------------------------------------------------------------------
BR-42 22 66 44 0.34 0.19 0.002 0.35 Oxide Sur
and 70 154 84 0.35 0.012 0.40 Sulphide
--------------------------------------------------------------------------
BR-43 0 166 166 0.39 0.024 0.49 Both
incl 0 68 68 0.61 0.43 0.003 0.62 Oxide
incl 68 78 10 0.44 0.005 0.46 Mixed Sur
incl 92 104 12 0.19 0.015 0.25 Sulphide
incl 124 166 42 0.28 0.084 0.62 Sulphide
and 188 198 10 0.24 0.006 0.26 Sulphide
--------------------------------------------------------------------------
BR-44 0 44 44 0.63 0.48 0.059 0.87 Oxide
and 70 86 16 0.35 0.26 0.039 0.51 Oxide Sur
and 100 110 10 0.48 0.38 0.02 0.56 Oxide
--------------------------------------------------------------------------
BR-45 2 16 14 0.32 0.16 0.002 0.33 Oxide
and 42 76 34 0.51 0.35 0.075 0.81 Oxide Sur
and 76 116 40 0.23 0.168 0.90 Sulphide
and 124 142 18 0.23 0.008 0.26 Sulphide
--------------------------------------------------------------------------
BR-46 0 48 48 0.28 0.16 0.002 0.29 Oxide Sur
and 68 76 8 0.21 0.15 0.007 0.24 Oxide
--------------------------------------------------------------------------
BR-47 18 36 18 0.21 0.15 0.001 0.21 Oxide Sur
--------------------------------------------------------------------------
BR-48 16 24 8 0.23 0.17 0.004 0.25 Oxide
and 32 94 62 0.26 0.17 0.005 0.28 Oxide
and 94 102 8 0.39 0.003 0.40 Sulphide Sur
and 118 144 26 0.19 0.12 0.004 0.21 Oxide
and 172 192 20 0.23 0.005 0.25 Sulphide
--------------------------------------------------------------------------
BR-50 20 34 14 0.28 0.17 0.004 0.30 Oxide Sur
and 46 66 20 0.25 0.14 0.002 0.26 Oxide
--------------------------------------------------------------------------
BR-54 32 40 8 0.34 0.24 0.012 0.39 Oxide Sur
and 50 62 12 0.24 0.05 0.003 0.25 Mixed
--------------------------------------------------------------------------
BR-56 36 46 10 0.38 0.003 0.39 Oxide Sur
--------------------------------------------------------------------------
Table 3; UTM Collar coordinates for all Coro RC holes.
--------------------------------------------------------------------------
Hole Easting Northing Elevation Azimuth Inc TD
--------------------------------------------------------------------------
BR-01 394958.90 7044267.58 1753.78 0 -90 100
BR-02 394913.91 7044268.24 1750.96 0 -90 100
BR-03 394856.29 7044261.30 1748.89 0 -90 100
BR-04 394808.59 7044266.71 1744.94 0 -90 100
BR-05 394756.22 7044269.75 1741.56 0 -90 100
BR-06 394707.04 7044264.56 1739.41 0 -90 100
BR-07 394651.52 7044268.51 1738.39 0 -90 100
BR-08 395102.16 7044176.36 1754.91 0 -90 200
BR-09 395159.41 7044178.02 1763.10 270 -65 210
BR-10 395202.47 7044178.22 1765.81 270 -65 200
BR-11 395104.70 7044080.54 1747.81 270 -65 250
BR-12 395106.24 7044119.90 1752.26 270 -65 100
BR-13 394852.87 7044464.69 1727.59 210 -60 250
BR-14 394949.84 7044360.83 1738.33 230 -60 250
BR-15 395034.54 7044361.50 1736.59 230 -70 200
BR-16 395123.80 7044321.86 1745.59 230 -60 200
BR-17 395048.70 7044263.60 1752.74 230 -60 200
BR-18 395011.12 7044224.83 1752.42 230 -60 200
BR-19 394976.53 7044170.84 1751.21 230 -60 200
BR-20 394884.99 7044079.42 1750.79 230 -60 250
BR-21 394711.29 7044250.41 1739.74 230 -60 250
BR-22 394762.55 7044262.26 1741.40 50 -60 250
BR-23 394836.36 7044163.12 1757.68 230 -60 250
BR-24 394775.09 7043818.55 1715.24 0 -90 200
BR-25 394938.07 7044469.34 1723.51 160 -60 400
BR-26 394912.51 7045691.27 1673.56 230 -60 400
BR-27 394723.66 7045530.48 1683.53 230 -60 300
BR-28 394809.16 7045347.32 1677.06 230 -60 300
BR-29 394972.09 7045477.30 1662.90 160 -60 250
BR-30 395135.42 7045611.95 1653.66 230 -60 400
BR-31 394867.50 7045196.87 1681.36 230 -60 290
BR-32 395119.28 7045338.37 1679.69 230 -60 400
BR-33 395261.08 7045472.54 1675.19 230 -60 400
BR-34 395325.67 7045310.81 1700.63 230 -60 374
BR-35 394962.29 7044985.35 1693.34 230 -60 368
BR-36 394967.92 7045009.69 1692.26 50 -60 400
BR-37 395180.28 7044877.27 1722.87 50 -60 400
BR-38 395269.03 7045214.24 1702.94 230 -60 400
BR-39 394653.85 7044896.47 1704.58 160 -60 288
BR-40 394738.63 7044665.36 1706.25 160 -60 400
BR-41 395184.16 7044814.71 1720.60 160 -60 400
BR-42 395040.98 7044334.61 1742.13 160 -60 400
BR-43 395066.33 7044255.39 1751.14 160 -60 300
BR-44 394895.41 7044432.92 1730.74 160 -60 300
BR-45 394969.26 7044235.40 1753.19 160 -60 300
BR-46 394966.10 7044243.01 1753.36 340 -60 200
BR-47 394885.86 7044162.75 1757.18 160 -60 200
BR-48 394823.75 7044209.94 1751.18 160 -60 300
BR-49 394849.79 7044231.58 1750.03 160 -60 300
BR-50 394744.47 7044126.50 1750.99 160 -60 250
BR-51 394648.40 7044091.48 1732.29 160 -60 250
BR-52 394589.90 7044498.25 1735.25 270 -60 400
BR-53 394419.98 7044016.71 1712.71 160 -60 216
BR-54 395117.66 7044312.81 1745.11 160 -60 300
BR-55 394687.71 7043991.14 1739.79 160 -60 300
BR-56 394777.88 7044038.12 1754.96 160 -60 298
BR-57 394987.93 7044326.89 1748.20 160 -60 114
BR-58 395005.00 7044272.45 1754.73 160 -60 108
BR-59 394931.94 7044329.81 1745.68 160 -60 98
BR-60 394888.73 7044315.59 1745.26 160 -60 126
BR-61 394922.66 7044221.38 1753.12 160 -60 120
BR-62 394798.36 7044395.08 1730.91 160 -60 150
BR-63 395025.98 7044234.51 1752.01 160 -60 100
BR-64 394963.00 7044258.86 1753.21 160 -60 96
BR-65 394854.15 7044400.79 1738.22 160 -60 150
BR-66 395093.03 7044203.76 1753.65 160 -60 120
BR-67 395042.71 7044190.69 1749.35 160 -60 90
BR-68 395006.04 7044176.05 1748.51 160 -60 120
BR-69 394936.79 7044195.71 1754.26 160 -60 120
BR-70 394958.72 7044416.94 1729.50 160 -60 120
BR-71 394947.74 7044155.37 1752.35 160 -60 120
BR-72 394967.98 7044370.33 1737.89 160 -60 120
BR-73 394856.40 7044432.77 1732.21 160 -60 140
BR-74 395099.56 7044254.53 1752.01 160 -60 100
BR-75 395067.75 7044118.12 1747.39 160 -60 120
BR-76 395087.41 7044363.90 1738.06 160 -60 80
BR-77 395017.65 7044399.12 1731.43 160 -60 86
BR-78 395140.53 7044223.71 1758.97 160 -60 120
BR-79 394969.91 7044104.85 1744.58 160 -60 100
BR-80 395001.55 7044130.10 1744.59 160 -60 84
BR-81 395108.15 7044158.07 1754.53 160 -60 120
BR-82 395053.70 7044297.50 1747.87 160 -60 100
BR-83 394875.33 7044350.32 1742.05 160 -60 120
BR-84 394919.41 7044373.86 1738.22 160 -60 100
BR-85 394903.44 7044401.56 1734.55 160 -60 120
BR-86 394961.50 7044548.29 1727.23 160 -60 104
BR-87 395094.15 7044753.28 1728.00 30 -60 120
BR-88 395090.53 7044745.41 1727.82 210 -60 120
BR-89 394927.37 7044782.67 1714.12 140 -60 120
BR-90 395261.41 7044824.68 1729.73 220 -60 96
BR-91 395227.12 7044812.88 1726.25 220 -60 86
BR-92 395186.15 7044740.15 1735.92 220 -60 120
--------------------------------------------------------------------------
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 Inca, 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.
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