EDITOR: | January 17th, 2018

Coro Mining Reports Remaining Results from Infill Drilling at Marimaca Copper Project, Chile

| January 17, 2018 | No Comments
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January 17, 2018 (Source) — Drilling highlights include 122m @ 0.79%CuT and 62m @ 0.90%CuT

Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) is pleased to announce the results of the final 26 reverse circulation (RC) holes from the infill drill program completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile, (Figs. 1 & 2). Together with the previously released results from Marimaca (November 9, December 5, and December 22, 2017), Coro has now published the results of all holes in the program.

“These results complete the drilling for an updated Marimaca resource estimate and Definitive Feasibility Study that is underway,” commented Coro President and CEO, Luis Tondo. “Results from the exploration RC holes completed at La Atomica and NE Marimaca, together with assays from six diamond drill holes completed for geotechnical purposes will be released shortly.”

Drilling Results

Results are shown on Table 1 where %CuT means total copper. Drill hole locations are shown on Fig 3. Drill collar coordinates are shown on Table 2.

Table 1: Intersections 

Hole TD From To m %CuT Type
MAR-77 200m 106 138 32 0.46 Oxide
and 174 200 26 0.69 Enriched
MAR-79 200m 70 116 46 0.47 Oxide
and 116 136 20 0.67 Mixed
170 184 14 0.82 Mixed
MAR-88 150m 64 100 36 1.11 Oxide
MAR-89 150m 24 92 68 0.37 Oxide

 

MAR-90 200m 64 130 66 0.42 Oxide
and 130 150 20 0.37 Mixed
MAR-93 200m 34 64 30 1.00 Oxide
and 94 106 12 0.95 Oxide
MAR-94 200m 6 106 100 0.34 Oxide
MAR-95 150m 64 90 26 0.35 Oxide
MAR-96 150m 48 110 62 0.90 Oxide
MAR-97 150m No Significant Results
MAR-98 100m 6 30 24 0.44 Oxide
MAR-99 150m 54 68 14 0.55 Oxide
MAR-100 150m 6 30 24 0.53 Oxide
MAR-101 150m 4 18 14 0.42 Oxide
and 22 60 38 0.48 Oxide
MAR-102 150m 0 46 46 0.60 Oxide
 and 58 136 78 0.49 Oxide
MAR-103 150m 48 82 34 0.55 Oxide
MAR-104 150m No Significant Results
MAR-105 150m No Significant Results
MAR-106 200m 48 170 122 0.79 Oxide

 

MAR-107 300m 42 60 18 0.75 Oxide
and 84 122 38 0.64 Oxide
122 134 12 1.60 Mixed
208 246 38 0.35 Mixed
256 292 36 0.39 Mixed
MAR-108 250m 90 150 60 0.31 Mixed
and 170 184 14 1.50 Oxide
MAR-109 250m 90 136 46 0.92 Mixed
MAR-110 300m 152 160 8 1.28 Oxide
MAR-111 150m No Significant Results
MAR-118 350m 0 98 98 0.40 Oxide
 and 142 258 116 0.45 Oxide
MAR-119 300m 0 64 64 0.66 Oxide
and 114 158 44 0.48 Oxide
175 194 18 0.47 Mixed
236 244 8 1.06 Oxide
270 298 28 0.35 Mixed

Sampling and Assay Protocol

True 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’s 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.

Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 33 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 exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, Executive Director of Coro Mining Corp, a geologist with more than 42 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.

Fig 1: Location of Marimaca

Fig 2: Marimaca Claim Map


Fig 2: Marimaca Drill Plan

Table 2: Drill Collars

Hole Easting Northing Elevation Azimuth Inclination Depth
MAR-77 374845.64 7435655.16 1133.565 310 -60 200
MAR-79 374883.75 7435621.51 1126.270 310 -60 200
MAR-88 374799.90 7435428.31 1065.892 220 -60 150
MAR-89 374844.16 7435393.70 1063.870 220 -60 150
MAR-90 374840.50 7435396.72 1064.061 310 -60 200
MAR-93 375190.91 7435114.32 1054.606 220 -60 150
MAR-94 375185.11 7435114.91 1054.326 310 -60 200
MAR-95 374808.94 7435362.27 1061.826 220 -60 150
MAR-96 374805.97 7435367.54 1061.618 310 -60 150
MAR-97 374830.12 7435333.37 1065.364 310 -60 150
MAR-98 374851.41 7435351.80 1059.431 220 -60 100
MAR-99 374923.77 7435265.59 1037.956 310 -60 150
MAR-100 374926.80 7435263.87 1038.017 220 -60 150
MAR-101 375054.54 7435172.63 1046.476 220 -60 150
MAR-102 375047.60 7435175.92 1046.811 310 -60 150
MAR-103 375179.28 7435044.70 1046.672 310 -60 150
MAR-104 374879.98 7435225.98 1052.945 310 -60 150
MAR-105 374961.51 7435159.08 1024.055 310 -60 150
MAR-106 375059.60 7435346.51 1053.307 220 -60 200
MAR-107 375056.74 7435344.64 1053.493 310 -60 300
MAR-108 375097.07 7435382.27 1064.472 220 -60 250
MAR-109 375091.49 7435388.91 1064.478 310 -60 250
MAR-110 375143.02 7435431.12 1080.283 310 -60 300
MAR-111 375145.70 7435426.43 1080.272 220 -60 150
MAR-118 374816.25 7435538.25 1106.088 310 -60 350
MAR-119 374824.20 7435532.68 1106.510 220 -60 300

About Coro Mining Corp.:

Coro’s strategy is to grow a mining business through the discovery, development and operation 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 and creating profitability are priorities and, 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 owns the Berta mine and Nora plant and the Llancahue prospect.

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 timing of future results and further programs.  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 completion of assays and drill rig availability. 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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