Coro Mining Marimaca Exploration Update: Underground Sampling Confirms New Discovery at Sorpresa, 2km to the South of Marima...
February 19 2019 - 7:00AM
Coro Mining Corp. (“Coro” or the “Company”) (TSX:
COP) is pleased to announce an update for the Company’s
Marimaca Project in the Antofagasta Region of Chile. Sampling
of historic underground workings in the Sorpresa area, located
approximately 2km to the south of Marimaca, has confirmed the
presence of a north-northeast oriented zone of intrusive hosted,
copper oxide mineralization measuring at least 350 metres long by
100 metres wide. The limits to the mineralization have not yet been
defined and the lowest most workings at approximately 100m vertical
depth are still in copper oxides. Individual, well mineralized
structures within the zone have widths of 10 to 40 metres. Like
Marimaca itself, Sorpresa has not been previously drilled prior to
Coro’s involvement.
Underground Sampling
Highlights
- A total of 2,450 samples have been collected from underground
workings, averaging approximately 0.50% CuT with highlights
including:
- 77.3 metres at 1.0% CuT
- 17.0 metres at 2.70% CuT
- 53.2 metres at 1.01% CuT
- 32.2 metres at 1.09 %CuT
- 15.0 metres at 4.20 %CuT
- 54.8 metres at 1.16 %CuT
- A reverse circulation (RC) drilling program with 12 holes for
3,000 metres is planned to test the strike and depth extent of the
copper oxide mineralization.
- Exploration in the area between the Marimaca deposit and
Sorpresa is underway.
- The presence of good grade mineralization at Sorpresa confirms
the potential in the district, on ground controlled 100% by
Coro.
Commenting on the announcement, Sergio Rivera,
VP of Exploration said: “The Marimaca Phase II exploration program
is progressing on time and on budget with some of the most
interesting results anticipated in the coming weeks as we continue
to test for additional potential extensions of mineralization to
the north and south. The underground sampling of Sorpresa
demonstrate the presence of good grade copper oxide mineralization
in this new area. As soon as we have finished at Atahualpa
where the ongoing results continue to exceed our expectations, we
will test Sorpresa with the RC drill campaign, with results
anticipated in the second quarter.”
Further InformationThe Sorpresa I
and II areas are located to the south of Marimaca 1-23. The
objective of the exploration activities at Sorpresa is to confirm
the presence and continuation of copper oxide mineralization to the
south of the Marimaca deposit.
Figure 1. Exploration areas and underground
workingshttp://www.globenewswire.com/NewsRoom/AttachmentNg/c1e3c212-ca84-4b49-a71c-21288d3dd758
Underground workings are north-south to
north-northeast oriented, easily accessible and displaying good
rock quality conditions. Although no reports on earlier
mining activities exist, it is believed from sampling and the
continuous copper oxide mineralization exposed in the declines and
adits that the workings were developed to mine material estimated
to contain above 2% copper. Results from sampling are shown in
Figure 2 below:
Figure 2. Sorpresa underground workings
location and selected sampling
resultshttp://www.globenewswire.com/NewsRoom/AttachmentNg/2bd5bee2-822f-4d9c-ad54-0ab812531349
Figure 3 shows the distribution of copper in the
workings and the location of selected intervals. Structure,
mineralization and alteration resemble the feeder zones observed in
the Marimaca deposit. No sulphides are present in the underground
workings.
Figure 3. Sorpresa historic underground
workings results and selected intersections
Underground Drive |
From
(m) |
To
(m) |
Length
(m) |
%
CuT |
%
CuS |
SS-01-4 |
56.2 |
163.3 |
107.1 |
0.37 |
0.26 |
including |
58.5 |
100 |
41.5 |
0.58 |
0.44 |
SS-01-6 |
20 |
37.6 |
17.6 |
0.45 |
0.31 |
SS-01-9 |
0 |
37.5 |
37.5 |
0.7 |
0.38 |
SS-01-10 |
0 |
77.3 |
77.3 |
1 |
0.69 |
SS-01-11 |
11.6 |
30.6 |
19 |
0.89 |
0.72 |
SS-01-13 |
0 |
17 |
17 |
2.7 |
2.33 |
SS-01-16 |
5.8 |
23.6 |
17.8 |
0.85 |
0.65 |
SS-01-18 |
3.7 |
23.4 |
19.7 |
0.89 |
0.52 |
SS-01-20 |
7.5 |
30.9 |
23.4 |
0.58 |
0.36 |
SS-01-21 |
2.1 |
55.3 |
53.2 |
1.01 |
0.72 |
SS-01-22 |
5.7 |
29.3 |
23.6 |
0.8 |
0.7 |
SS-01-23 |
1.7 |
33.9 |
32.2 |
1.09 |
0.77 |
SS-01-25 |
9.8 |
47 |
37.2 |
0.97 |
0.8 |
|
62.8 |
74.8 |
12 |
1.74 |
1.52 |
SS-01-26 |
0 |
7.7 |
7.7 |
0.73 |
0.54 |
SS-01-27 |
0 |
33.7 |
33.7 |
0.49 |
0.34 |
|
83.2 |
95.2 |
12 |
0.52 |
0.29 |
SS-01-27A |
0 |
35.5 |
35.5 |
0.6 |
0.33 |
|
124 |
176 |
52 |
0.67 |
0.36 |
SS-01-30 |
0 |
14.3 |
14.3 |
0.97 |
0.8 |
SS-01-31 |
0 |
15 |
15 |
4.2 |
3.8 |
SS-01-32 |
0 |
39.2 |
39.2 |
0.35 |
0.25 |
SS-01-32 |
78.3 |
98.2 |
19.9 |
0.61 |
0.5 |
SS-01-34 |
0 |
23.9 |
23.9 |
0.81 |
0.39 |
SS-01-36 |
0 |
45.8 |
45.8 |
0.43 |
0.28 |
SS-02-38 |
0 |
54.8 |
54.8 |
1.16 |
0.96 |
including |
37.1 |
53 |
15.9 |
2.8 |
2.44 |
Sorpresa RC Drilling ProgramAn RC drill
campaign with 12 holes for 3,000 metres will test the strike and
depth extension of the copper oxide mineralization and its
extension from the Marimaca deposit.
Phase II Program Upcoming
MilestonesDrilling is continuing to plan at Atahualpa with
further results anticipated in the coming weeks.
Sample and Assay ProtocolThe
samples were taken as 2 metres continuous chip channel samples in
previously carefully cleaned surface walls. Both adit walls were
sampled by Coro personnel. The samples were transported to the
Andes Analytical Assays (“AAA”) preparation laboratory in Calama.
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 samples were assayed for CuT and CuS by AAS. No standards,
blanks or duplicates were employed. After sampling, underground
workings were geologically mapped in detail following a protocol
adapted from that used for bore hole logging, with emphasis on
mineralization and its structural and litohologic controls.
Qualified PersonsThe technical
information in this news release, including the information that
relates to geology, drilling and mineralization of the district
exploration programs was prepared under the supervision of, or has
been reviewed by Sergio Rivera, Vice President of Exploration, Coro
Mining Corp, a geologist with more than 38 years of experience and
a member of the Colegio de Geologos de Chile and of the Institute
of Mining Engineers of Chile, and who is the Qualified Person for
the purposes of NI 43-101 responsible for the design and execution
of the drilling program and the contents of this news release.
Contact InformationFor further information
please visit www.coromining.com or contact:Nicholas Bias, VP
Corporate Development & Investor Relations |
Office: |
+56 2 2431 7601 |
Cell: |
+44
(0)7771 450 679 |
Email: |
nbias@coromining.com |
Forward Looking StatementsThis
news release includes certain “forward-looking statements” under
applicable Canadian securities legislation. These statements
relate to future events or the Company’s future performance,
business prospects or opportunities. Forward-looking statements
include, but are not limited to, statements regarding the future
development and exploration potential of the Marimaca Project.
Actual future results may differ materially. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements
are made and are based upon a number of assumptions and estimates
that, while considered reasonable by Coro, are inherently subject
to significant business, economic, competitive, political and
social uncertainties and contingencies. Many factors, both known
and unknown, could cause actual results, performance or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation: the inherent
risks involved in the mining, exploration and development of
mineral properties, the uncertainties involved in interpreting
drilling results and other geological data, fluctuating metal
prices, the possibility of project delays or cost overruns or
unanticipated excessive operating costs and expenses, uncertainties
related to the necessity of financing, the availability of and
costs of financing needed in the future 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.
Accordingly, readers should not place undue reliance on
forward-looking statements. Coro undertakes no obligation to update
publicly or otherwise revise any forward-looking statements
contained herein whether as a result of new information or future
events or otherwise, except as may be required by law.
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