Marimaca Copper Corp T.MARI

Coro Announces Start of 2,000m Diamond Drilling Pr

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Coro Announces Start of 2,000m Diamond Drilling Program at Chacay and Acquisition of New Chilean Property
10 May 2011 13:30 ET

Marketwire
Coro Mining Corp.
May 10, 2011 - 01:30:00 PM
Coro Announces Start of 2,000m Diamond Drilling Program at Chacay and
Acquisition of New Chilean Property
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2011) - Coro Mining Corp.
("Coro" or the "Company") (TSX:COP) is pleased to announce the commencement of
a 2,000m diamond drilling program at its 100% owned Chacay porphyry copper
property, located 12km southeast of the Teck Resources Relincho copper
project, and 50km east of the city of Vallenar in the III Region of Chile.
Previous drilling results from Chacay were announced in the Company's news
releases dated March 26th 2010, May 4th 2010 and February 8th 2011.
Alan Stephens, President and CEO of Coro commented, "This round of drilling
will provide additional geological information about Chacay, will test for
deeper primary copper mineralization, and will further define the continuity
of the Nacho Zone chalcocite blanket. If results from this program continue to
be encouraging, the Company intends to embark on a resource definition
drilling campaign later in the year."
Coro is also pleased to announce that it has acquired by staking and optioning
from a local Chilean claim owner, the El Tapao property, located in the IV
Region of Chile. Coro may acquire 100% of the optioned property by making four
annual payments of US$25,000, followed by a final payment of US$1 million. El
Tapao is an early stage, high level alteration zone with potential to host a
large porphyry copper deposit. Coro intends to complete surface exploration,
prior to conducting a drill test later in 2011.
Coro continues to evaluate other exploration opportunities in Chile.
About Chacay
The Chacay property hosts a porphyry copper prospect of probable Eocene age
that has previously been drill tested by several companies. The drill hole
locations and summary geological information are available for some of the
previous drilling but it has not been possible to obtain the corresponding
assay information. A zoned porphyry alteration suite of external propylitic
alteration surrounding a phyllically altered core is developed over a distance
of 3500m, oriented west northwest. Three zones of copper mineralization have
been outlined by the drilling to date.
The largest of these, known as the Nacho Zone, occupies an area of
approximately 900 x 700m centered on Cerro Colorado. This hill has an
elevation difference of 300m over the surrounding valleys and hosts a leached
cap, which drilling has shown to vary from 50 to 200m in thickness. Underlying
the leached cap, a weakly oxidized, flat lying, chalcocite enrichment blanket
has been intersected in drilling, that is currently interpreted to be between
20m thick on its margins and greater than 100m thick towards its centre. The
chalcocite blanket is thickest and has the highest copper grades when
developed within a diorite porphyry intrusive exhibiting
sericite-chlorite-quartz alteration, and which contained original primary
copper sulphides. This diorite is cross cut by zones of moderate to strong
quartz-sericite-pyrite alteration, which may or may not represent a separate
late porphyry phase, and which generally hosts mineralization grading less
than 0.2%CuT, with chalcocite occurring only as coatings on pyrite. The
geometry of the mineralized diorite porphyry is poorly constrained by the
existing drilling and its relationship with other lithologies is obscured by
the intense alteration that affects all rock types except a weakly altered,
late-post mineral hornblende diorite that occurs as small stocks and dykes,
and post mineral latite dykes.
Coro owns 100% of the Chacay property, subject to a 2% Net Profits Interest
with a US$2 million cap, payable to First Quantum Minerals.
CORO MINING CORP.
Alan Stephens, President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on
medium-sized base and precious metals deposits in Latin America. The Company
intends to achieve this through the exploration for, and acquisition of,
projects that can be developed and placed into production. Coro's properties
include the advanced San Jorge copper-gold project, in Argentina, and the
Chacay, Llancahue and Celeste copper exploration properties located in Chile.
This news release includes certain "forward-looking statements" under
applicable Canadian securities legislation. Such forward-looking statements or
information, including but not limited to those with respect to the prices of
copper, estimated future production, estimated costs of future production,
permitting time lines, involve known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements or
information. Such factors include, among others, the actual prices of copper,
the factual results of current exploration, development and mining activities,
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Coro Mining Corp. Michael Philpot Executive Vice-President             [phone]      
[e-mail] www.coromining.com