Coro Mining Marimaca Exploration Update: Additional Drilling Results Confirm Western Extension of Marimaca Mineralization at...
April 11 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.
An additional and final batch of 15 RC holes for
3,170 metres has been completed at the Atómica section of Marimaca,
bringing the total to 79 holes for 18,270 metres. The results
confirm both the south and southwest extension of the
mineralization and the prominent north-south oriented feeder type
structures extending north into the Atahualpa section.
Highlights
Results from the additional drilling to confirm
the south-southwest extension of mineralization include:
Hole LAR-70
- From 70 to 84 metres, 14 metres of copper oxide mineralization
averaging 1.12% CuT
Hole LAR-71
- From 6 to 38 metres, 32 metres of copper oxide mineralization
averaging 0.60% CuT.
Results from the additional drilling to confirm
the north-south feeder type structures include:
Hole LAR-79
- From 52 to 104 metres, 52 metres of copper oxide mineralization
averaging 0.61% CuT, including from 52 to 72 metres of copper oxide
mineralization averaging 0.95% CuT.
Hole LAR-82
- From 122 to 134 metres, 12 metres of copper oxide
mineralization averaging 0.90% CuT.
Hole LAR-84
- From 2 to 40 metres, 38 metres of copper oxide and mixed
mineralization averaging 0.58% CuT.
Commenting on the results, Sergio Rivera, VP of
Exploration said: “The initially planned drilling campaign in the
La Atómica section of the project was expanded in terms of number
of drill holes and metres as it became apparent that the
mineralized area was larger than anticipated. We anticipate that
the now completed La Atómica drilling program should result in a
significant increase in the overall resource base of the Marimaca
project.”
Further InformationThese drill
holes represent the third and final batch from La Atómica. 15
RC drill holes were completed totalling 3,170 metres: 9 holes to
test for the south-southwest extension of mineralisation, and 6
holes to confirm the north-south feeder structures stretching to
Atahualpa. In total at La Atómica 79 holes for a total 18,270
metres have been completed, approximately 50% more than originally
envisaged. The extra costs associated with the additional
drilling have been accommodated because the realised drilling costs
were lower than budgeted and some contingencies were drawn
down.
The latest drill results have confirmed the
south and south-west extension of the mineralization at La Atómica
along an additional 400 x 100 metre west-northwest trending
area. The results have also provided further definition of
the western limit of the Marimaca deposit.
Additionally, the east-west 270° oriented holes
confirmed the existence of prominent north-south oriented
high-grade feeder type structures that extend further north towards
Atahualpa.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/e090e75b-b8b4-4486-acff-6a7f216edd8f
Sampling and Assay ProtocolTrue
widths cannot be determined with the information available at this
time. Coro RC holes were sampled on a 2-metre continuous basis,
with dry samples riffle split on site and one quarter sent to the
Andes Analytical Assay preparation laboratory in Calama and the
pulps then sent to the same company laboratory in Santiago for
assaying. A second quarter was stored on site for reference.
Samples were prepared using the following standard protocol:
drying; crushing to better than 85% passing -10#; homogenizing;
splitting; pulverizing a 500-700g subsample to 95% passing -150#;
and a 125g split of this sent for assaying. All samples were
assayed for CuT (total copper), CuS (acid soluble copper), CuCN
(cyanide soluble copper) by AAS and for acid consumption. A full
QA/QC program, involving insertion of appropriate blanks, standards
and duplicates was employed with acceptable results. Pulps and
sample rejects are stored by Coro for future reference.
Figure 2: Atahualpa Intersections
Hole |
TD (m) |
|
From |
To |
m |
%CuT |
Type |
LAR-70 |
250 |
|
16 |
46 |
30 |
0.33 |
Oxide |
|
|
|
50 |
92 |
42 |
0.49 |
Oxide |
|
|
including |
70 |
84 |
14 |
1.12 |
Oxide |
|
|
|
194 |
226 |
32 |
0.31 |
Mixed |
|
|
including |
194 |
204 |
10 |
0.64 |
Mixed |
LAR-71 |
250 |
|
6 |
38 |
32 |
0.60 |
Oxide |
|
|
and |
206 |
212 |
6 |
0.55 |
Oxide |
LAR-72 |
350 |
|
152 |
186 |
34 |
0.44 |
Oxide |
|
|
|
200 |
304 |
104 |
0.44 |
Oxide - Enriched - Mixed |
|
|
Including |
200 |
212 |
12 |
0.46 |
Oxide |
|
|
and |
218 |
246 |
28 |
0.79 |
Oxide - Enriched |
|
|
|
278 |
294 |
16 |
0.67 |
Oxide - Mixed |
LAR-73 |
270 |
No Significant Results |
LAR-74 |
250 |
|
68 |
88 |
20 |
0.44 |
Oxide |
|
|
|
100 |
114 |
14 |
0.34 |
Oxide |
|
|
|
228 |
240 |
12 |
0.30 |
Enriched |
LAR-75 |
250 |
|
86 |
120 |
34 |
0.21 |
Oxide |
|
|
|
174 |
182 |
8 |
0.34 |
Oxide |
|
|
|
|
|
|
|
|
LAR-76 |
200 |
No Significant Results |
LAR-77 |
150 |
No Significant Results |
LAR-78 |
150 |
No Significant Results |
LAR-79 |
250 |
|
52 |
104 |
52 |
0.61 |
Oxide |
|
|
including |
52 |
72 |
20 |
0.95 |
Oxide |
LAR-80 |
250 |
|
54 |
82 |
28 |
0.28 |
Oxide |
|
|
|
94 |
122 |
28 |
0.31 |
Oxide |
|
|
|
188 |
196 |
8 |
0.90 |
Oxide |
LAR-81 |
200 |
|
20 |
32 |
12 |
0.22 |
Oxide |
|
|
and |
94 |
102 |
8 |
0.38 |
Oxide |
LAR-82 |
200 |
|
122 |
134 |
12 |
0.90 |
Oxide - Primary |
|
|
and |
156 |
176 |
20 |
0.27 |
Primary - Oxide |
LAR-83 |
60 |
|
0 |
18 |
18 |
0.37 |
Oxide |
LAR-84 |
90 |
|
2 |
78 |
76 |
0.41 |
Oxide |
|
|
including |
2 |
40 |
38 |
0.58 |
Oxide |
|
|
and |
62 |
72 |
10 |
0.33 |
Oxide |
Figure 3: Atahualpa Drill Collars
Hole |
Easting |
Northing |
Elevation |
Azimuth |
Inclination |
Depth |
LAR-70 |
374756.5 |
7435398.7 |
1053.3 |
310 |
-60 |
250 |
LAR-71 |
374759.4 |
7435393.0 |
1053.6 |
220 |
-60 |
250 |
LAR-72 |
374695.7 |
7435314.6 |
1048.6 |
310 |
-60 |
350 |
LAR-73 |
374706.7 |
7435311.2 |
1048.8 |
220 |
-60 |
270 |
LAR-74 |
374820.4 |
7435339.7 |
1065.3 |
310 |
-60 |
250 |
LAR-75 |
374824.4 |
7435334.5 |
1065.4 |
220 |
-60 |
250 |
LAR-76 |
374529.2 |
7435438.6 |
1027.8 |
310 |
-60 |
200 |
LAR-77 |
374530.2 |
7435430.9 |
1028.0 |
220 |
-60 |
150 |
LAR-78 |
374768.7 |
7435268.9 |
1050.9 |
310 |
-60 |
150 |
LAR-79 |
374842.3 |
7435824.9 |
1068.0 |
270 |
-60 |
250 |
LAR-80 |
374797.4 |
7435858.8 |
1062.2 |
270 |
-60 |
250 |
LAR-81 |
374703.7 |
7435856.4 |
1021.9 |
270 |
-60 |
200 |
LAR-82 |
374630.4 |
7435876.9 |
1011.0 |
270 |
-60 |
200 |
LAR-83 |
374767.3 |
7435959.8 |
999.0 |
270 |
-60 |
60 |
LAR-84 |
374721.0 |
7435960.9 |
996.9 |
270 |
-60 |
90 |
Qualified PersonsThe technical
information in this news release, including the information that
relates to geology, drilling and mineralization of the Marimaca
Phase I and II exploration program 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 36 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.
Contact InformationFor further
information please visit www.coromining.com or contact:Nicholas
Bias, VP Corporate Development & Investor
RelationsCell: +44 (0)7771 450
679Office: +56 2 2431 7601Email:
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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