Coro Files NI 43-101 Report for Marimaca Resource and Provides a Corporate Update
March 1, 2017 (Source) — Coro Mining Corp. (“Coro” or the “Company”) (TSX:COP) has recently filed on SEDAR the NI 43-101 report in support of the maiden resource estimate completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile (see Coro press release dated January 17, 2017). The formal identification of a pit-constrained Measured & Indicated resource of 145,000 tonnes (320,772,600 lbs) of contained copper and an Inferred resource of 93,300 tonnes (218,919,000 lbs) of contained copper, validates the decision for the Company to finalize its acquisition of Minera Rayrock Ltda. (Rayrock), owner of the Ivan 10,000 tonne-per-year (22,046,230 lbs) copper capacity solvent extraction/electro-winning (SXEW) processing plant.
Earlier in 2017, Coro began a comprehensive corporate marketing program to increase the Company’s profile among current and prospective investors. As part of that ongoing program, Coro began a program of presentations to interested investor groups in the southern US – San Francisco, Los Angeles and Newport Beach – which will run daily until March 2. The following week, Coro will have a presence at the Toronto PDAC conference where management will be available at Booth # 2928 in the Investor’s Exchange from March 5 – 8.
Alan Stephens, President and CEO of Coro commented, “It is important for us to communicate the forward movement Coro is making with the Nora/Berta project and the Marimaca property, both of which have significant development activities planned for the coming year.”
Alan Stephens, FIMMM, President and CEO of Coro Mining Corp, a geologist with more than 41 years of experience, is the Qualified Person for the purposes of NI 43-101 and has approved this written disclosure.
About Coro Mining Corp
Coro’s strategy is to grow a mining business through the discovery, development and operation of “Coro type” deposits. These are defined as projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment takes priority over maximizing NPV, where profitability is prioritized over production rate, and finally, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which includes the Berta and Nora operations; the Planta Prat project; the Llancahue prospect; and a royalty on the San Jorge copper-gold project located in Argentina.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to production estimates. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coro’s ability to predict or control and may cause Coro’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the operations of the SCM Berta, copper price volatility, and changes in debt and equity markets. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, 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. 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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