Coro Provides Update for its SCM Berta Operations
March 6, 2017 (Source) — Coro Mining Corp. (“Coro” or the “Company”) (TSX:COP) is pleased to provide an update for its 65% owned SCM Berta leachable copper operations, located in the III Region of the Republic of Chile.
Following the completion of the financing announced in December 2016, the installation of heap leaching and crushing facilities at the Berta mine site is nearing completion. The crusher has been commissioned and loading of the heap leach pads is expected to start around the middle of this month. Leaching of copper is anticipated to commence by month end, with trucking of concentrated Pregnant Leach Solution to the Nora processing plant thereafter. The plant is being expanded from 3,000t/yr (6.6m lb/yr) to 4,800t/yr (10.6m lb/yr) copper cathode capacity. Photographs of the development of the Berta site will be posted on the Coro website as available.
Alan Stephens, President and CEO of Coro commented, “We are pleased that the build out of the SCM Berta facilities is proceeding apace and look forward to ramping up production in a positive copper price environment.”
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.
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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 operation of the Nora Plant, 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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