Coro Reports First Infill Drilling Results from its Marimaca Copper Project, Chile
November 9, 2017 (Source) — Drilling highlights include 156m @ 0.72%CuT, 172m @ 0.71%CuT and 60m @ 1.61%CuT
Coro Mining Corp. (TSX: COP) (“Coro” or the “Company”) is pleased to announce the results of the initial 11 reverse circulation (RC) holes from the recently completed 57-hole, 11,178-metre infill drill program completed at its Marimaca copper project, located 22km east of the port of Mejillones in the II Region of Chile, (Fig. 1). Previous drill results from Marimaca were released in 2016 and a maiden resource estimate on January 12 2017.
“We are very satisfied with the results of this first batch of infill holes, which confirm our expectations from the 2016 drilling,” commented Coro President & CEO Luis Tondo. “Although the program continues to define the leachable copper resource, it was exciting to intersect 60 metres at 1.61% total copper in primary sulphide mineralization at the bottom of hole MAR-60. The remaining holes will be released in meaningful batches over the coming weeks and the rig will now commence the exploration drill program described in our news release of November 2 2017. This infill drilling program will inform the Definitive Feasibility Study being conducted on the Marimaca project, both as a requirement for Coro to earn its 75% of this property and as a means of facilitating the fast tracking of Marimaca to copper production.”
Results are shown on Table 1 where %CuT means total copper. Drill hole locations are shown on Fig 2. Collar coordinates are shown on Table 2.
Table 1: Intersections
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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 laboratory in Copiapo, Chile for preparation and 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, President and CEO, 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 and Coro Claims
Fig 2: Marimaca Drill Plan
2017 drilling: red
2016 drilling: grey
Table 2: 2017 Infill Drill Collars
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-lookingstatements 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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