Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:
DRI)(OTCQX: DRIFF)(FRANKFURT: DO5) announces receipt, from Minera
Afrodita, of additional surface geochemical results from the
southeast zone of the Cobrecon anomaly, and the central portion of
the Cobrecon Sur anomaly, within the Condor Copper-Gold District in
northern Peru. Soil and rock sample results from both the Cobrecon
and Cobrecon Sur porphyry targets outline two large, parallel
porphyry systems.
Four holes have been completed at Cobrecon, where drilling has
now stepped out 500 metres to the southeast to test a
newly-discovered area of surface mineralization (multiple rock
samples grading 0.2% to 0.5% copper at surface). Dorato has a right
to acquire 100% of Minera Afrodita.
COBRECON TARGET
Four drillholes have been completed (CBC-01 to CBC-04) in the
central portion of the Cobrecon porphyry target. Assay results are
pending for all completed drillholes.
In the southern portion of the target, new soil sampling results
have shifted the focus of drilling 500 metres to the southeast,
where two drillholes are in progress and at least four additional
drillholes are planned (Figure 1:
http://media3.marketwire.com/docs/d531a.pdf). The new soil results
are complemented by mapping and rock sampling, which returned a
cluster of surface rock samples grading between 0.11% copper and
0.5% copper. This is the most consistent porphyry mineralization
discovered in the program to date.
The northern portion of the target, where rock samples returned
up to 0.63% copper and 0.48 g/t gold, has not yet been
drill-tested.
The additional soil sample results now completely define the
soil anomaly (Figure 2:
http://media3.marketwire.com/docs/d531b.pdf). Soil molybdenum is
the most reliable indicator of subsurface mineralization and the
outline of the molybdenum anomaly is therefore used as a reference
in Figure 2. The soil anomaly indicates there are likely two
centres, or concentrations, of mineralization: one centred at
platform C (300m north of holes CBC-02 and CBC-04) and another at
the site of current drilling. Visual estimates of mineralization in
drill core support this observation.
COBRECON SUR
The copper and molybdenum soil sample results at Cobrecon Sur
(Figure 2) define the extents of disseminated copper mineralization
mapped in the creeks. The copper-molybdenum anomaly is large,
measuring 1.5 km wide and 3 km long and soil samples are higher in
copper and molybdenum than at Cobrecon to the north.
Reconnaissance-level rock sampling has returned grades up to 0.35%
copper.
Recently completed airborne geophysics at Cobrecon Sur defines a
broad magnetic low coincident with a near-circular EM anomaly that
is interpreted to outline quartz-sericite-pyrite alteration around
the mineralization (Figure 3:
http://media3.marketwire.com/docs/d531c.pdf). The soil and
geophysics anomalies are almost perfectly coincident with a large
area of quartz and sulphide stockwork veining with chalcopyrite
(copper) mineralization hosted by variably sheared diorite and
coarse granite. The granite currently appears to be the best host
for mineralization, with rock samples grading up to 0.35% copper -
the mineralization is more disseminated in nature within the
granite host and the area of mineralized outcrops will be the
initial drill target.
THIRD PORPHYRY TARGET UNDER INVESTIGATION
Recent Airborne EM data has identified a strong anomaly to the
east (Figure 3) coincident with an area of anomalous silt samples.
A few preliminary rock samples from the area have returned altered
intrusive rocks (quartz-sericite-pyrite and quartz vein stockwork)
suggesting proximity to a porphyry system. Additional ridge and
spur soil sampling and reconnaissance rock sampling is underway in
the area, which is approximately 2-3 kilometres southeast of the
current drill holes.
FINAL LUCERO DRILLING
Final assay results have now been received for the drilling at
the Lucero gold-copper skarn project. The results of holes LUC-22
and 23, which tested the western extent of the surface gold
mineralization, indicate the skarn is thinning in that direction,
and are at the edges of the skarn as shown in Figure 4. Drillhole
LUC-022 intersected 0.49 g/t gold and 0.23% copper over 7.5 metres
below the skarn, and LUC-023 intersected 0.80 g/t Au and 0.40% Cu
over 14.75 metres within the skarn and from surface.
The surface skarn mineralization has been subjected to
post-mineral erosion, such that the skarn thickness varies from 10
meters to 150 meters depending on topography. In the area where the
best gold mineralization occurs, skarn-hosted mineralization has
been eroded, preserving approximately 20-30 metres of
mineralization. A conceptual geologic estimate of the resource at
Lucero can be made assuming a consistent slab of skarn
mineralization 25m thick and average grade of 1-1.5 g/t; the
average specific gravity is assumed to be 3 (based on actual core
measurements). Applying these figures to surface dimensions of 400
by 200m estimated that at Lucero there are about 6 million tonnes
containing 190,000 to 280,000 ounces of gold. Note that, as per
National Instrument 43-101 standards of disclosure, this estimate
is conceptual in nature and there has been insufficient exploration
to define a mineral resource; it is uncertain that further
exploration will result in the target being delineated as a mineral
resource. Dorato is focussed on discovery of a large, bulk-tonnage
resource, and this conceptual estimate indicates Lucero is too
small to warrant proving up this geologic estimate to the Inferred
category with additional drilling. Therefore, no further
exploration is planned.
Drillholes LUC-024 and -025 (see Figure 4:
http://media3.marketwire.com/docs/d531d.pdf) tested deeper
disseminated mineralization beneath the skarn in the underlying
arenite package. Neither hole intersected significant
mineralization.
Cordillera Del Condor Background
The Cordillera del Condor has been one of the most important
gold-bearing areas in Ecuador and Peru since pre-Incan times. On
the Ecuador side of the border, historical high-grade, small scale
gold production is reported to have exceeded 100,000 oz per
year.
Modern exploration on the Ecuadorian side of the border has
resulted in the discovery of multiple, significant and world-class
gold and base metal-bearing districts, such as Kinross Gold Corp's
Fruta del Norte Gold deposit with an inferred resource of 13.6
million contained ounces of gold averaging 7.23 g/t gold), the
Mirador Copper-Gold porphyry deposit (recently sold by Corriente
Resources Inc.) with measured & indicated resources of 438
million tonnes at 0.61% copper, 0.19 g/t gold plus inferred
resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and
the Mirador Norte Copper-Gold porphyry deposit (indicated 171
million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 million
tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals &
Mining Inc.'s Jerusalem Gold deposit in the Chinapintza district
with measured & indicated resources of 0.58 million contained
ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces
inferred contained ounces averaging 11.5 g/t gold). The technical
information with respect to the above deposits was obtained through
the respective companies' public disclosure documents available on
SEDAR.
Qualified Person
John Drobe, P.Geo., Dorato's Vice President of Exploration and a
qualified person as defined by National Instrument 43-101, has
reviewed the scientific and technical information that forms the
basis for this news release. Mr. Drobe is not independent of the
Company as he is an officer and a shareholder.
The results of the geophysical survey have been reviewed by
Brian Williams, consulting geophysicist, who checked data quality
during data acquisition and assists with ongoing
interpretation.
The geochemical results were reviewed by Tansy O'Connor-Parsons,
Senior Geochemist. Minera Afrodita on-site personnel rigorously
collect and track samples which are then security sealed and
shipped to ACME Laboratories, Lima, Peru for assay. ACME's quality
system complies with the requirements for the international
standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and
precision are monitored by the analysis of reagent blanks,
reference material and replicate samples. Quality control is
further assured by the use of international and in-house standards.
Blind certified reference material is inserted at regular intervals
into the sample sequence by field personnel in order to
independently assess analytical accuracy. In addition,
representative blind duplicate samples are routinely forwarded to
ACME and an ISO-compliant third party laboratory for additional
quality control.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on
the highly prospective Cordillera del Condor Gold District in
northern Peru and adjacent to the border with Ecuador - one of the
most important gold-bearing districts in the region since pre-Incan
times. Dorato, through a series of option agreements has the right
to wholly acquire an extensive land package of approximately
1,050-square-kilometres - providing the Company with the largest
land position in the Cordillera del Condor and a highly strategic
position in this emergent gold district. Dorato is well funded and
possesses experienced management with a proven track record.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith Henderson, President & CEO
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of potential mineral
deposits/resources/reserves, business and financing plans and
business trends, are forward-looking statements. Although the
Company believes that such statements are reasonable, it can give
no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, variations in the
nature, quality and quantity of any mineral deposits that may be
located, variations in the market price of any mineral products the
Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, the Company's inability to produce minerals
from its properties successfully or profitably, to continue its
projected growth, to raise the necessary capital or to be fully
able to implement its business strategies, to obtain the required
supremem decree from Peruvian authorities and other risks and
uncertainties disclosed in the Company's Amended 2010 Annual
Information Form filed with certain securities commissions in
Canada and the Company's 2010 Annual Report on Form 40-F filed with
the United States Securities and Exchange Commission (the "SEC"),
and other information released by the Company and filed with the
appropriate regulatory agencies. All of the Company's Canadian
public disclosure filings may be accessed via www.sedar.com and its
United States public disclosure filings may be accessed via
www.sec.gov, and readers are urged to review these materials,
including the latest technical report filed with respect to the
Livengood Property.
Cautionary Note Regarding References to Resources and
Reserves
National Instrument 43 101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") is a rule developed by the Canadian
Securities Administrators which establishes standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Unless otherwise
indicated, all resource estimates contained in or incorporated by
reference in this press release have been prepared in accordance
with NI 43-101 and the guidelines set out in the Canadian Institute
of Mining, Metallurgy and Petroleum (the "CIM") Standards on
Mineral Resource and Mineral Reserves, adopted by the CIM Council
on November 14, 2004 (the "CIM Standards") as they may be amended
from time to time by the CIM.
United States shareholders are cautioned that the requirements
and terminology of NI 43-101 and the CIM Standards differ
significantly from the requirements and terminology of the SEC set
forth in the SEC's Industry Guide 7 ("SEC Industry Guide 7").
Accordingly, the Company's future disclosures regarding
mineralization may not be comparable to similar information
disclosed by companies subject to SEC Industry Guide 7. Without
limiting the foregoing, while the terms "mineral resources",
"inferred mineral resources", "indicated mineral resources" and
"measured mineral resources" are recognized and required by NI
43-101 and the CIM Standards, they are not recognized by the SEC
and are not permitted to be used in documents filed with the SEC by
companies subject to SEC Industry Guide 7. Mineral resources which
are not mineral reserves do not have demonstrated economic
viability, and US investors are cautioned not to assume that all or
any part of a mineral resource will ever be converted into
reserves. Further, inferred resources have a great amount of
uncertainty as to their existence and as to whether they can be
mined legally or economically. It cannot be assumed that all or any
part of the inferred resources will ever be upgraded to a higher
resource category. Under Canadian rules, estimates of inferred
mineral resources may not form the basis of a feasibility study or
prefeasibility study, except in rare cases. The SEC normally only
permits issuers to report mineralization that does not constitute
SEC Industry Guide 7 compliant "reserves" as in-place tonnage and
grade without reference to unit amounts. The term "contained
ounces" is not permitted under the rules of SEC Industry Guide 7.
In addition, the NI 43-101 and CIM Standards definition of a
"reserve" differs from the definition in SEC Industry Guide 7. In
SEC Industry Guide 7, a mineral reserve is defined as a part of a
mineral deposit which could be economically and legally extracted
or produced at the time the mineral reserve determination is made,
and a "final" or "bankable" feasibility study is required to report
reserves, the three-year historical price is used in any reserve or
cash flow analysis of designated reserves and the primary
environmental analysis or report must be filed with the appropriate
governmental authority.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Dorato Resources Inc. Steve Stakiw Manager - Corporate
Communications 604-638-5817 Dorato Resources Inc. Michael Pound
Manager - Investor Relations 604-638-5817 604-408-7499 (FAX)
info@doratoresources.com www.doratoresources.com
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