Coro Announces 88 Metres at 0.47% Copper From Dril Alert for COP - News Alert - 12:30PM ET 01/05/2010
Coro Mining Corp (COP:TSX) - News Alert
Coro Announces 88 Metres at 0.47% Copper From Drilling Program at Chacay Property
Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to
announce that its Chilean subsidiary, Minera Cielo Azul Ltda
("MCAL") has completed a 4 hole 1,024m reverse circulation drilling
program at its 100% owned Chacay porphyry copper property, located
12km southeast of Teck Resources Limited's Relincho copper project,
and 50km east of the city of Vallenar in the III Region of Chile.
The Chacay property hosts a porphyry copper prospect of probable
Paleogene age that has previously been drill tested by several
companies. The drillhole 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 quartz-sericite core is developed over a distance of
3,500m, oriented west northwest. A strongly developed sulphide
stockwork coincident with an intensely phyllic altered quartz
feldspar porphyry, occurs over an area of 1,000m x 1,000m centered
on Cerro Chacay. 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 partially oxidized, flat lying, chalcocite enrichment blanket
has been intersected in drilling, that is currently interprete d to
be between 20 and 110m thick.
Three of the four widely spaced holes, CHCRC08-10, intersected the
secondary enrichment blanket as anticipated with the following grades;
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Hole From To m %CuT %CuS %CuCN Solubility
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CHCRCO9 236 324 88 0.47 0.09 0.35 95%
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including 246 290 44 0.57 0.10 0.43 98%
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CHCRC08 160 208 48 0.20 0.06 0.12 93%
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CHCRC10 138 194 56 0.15 0.05 0.09 91%
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The intersection in CHCRC09 is comparable to previously drilled hole
CHCRC06 (refer to news release 09-11 dated November 25, 2009) which
intersected 78m at 0.44%CuT.
CHCRC09 intersected disseminated chalcocite, while holes CHCRC08 and
CHCRC10 intersected chalcocite developed as a thin coating on
disseminated pyrite. The fourth hole, CHCRC11, which was drilled to
test a prominent silicified rib near the southeast edge of the
alteration zone, passed through a silicified and strongly pyritic
zone with no secondary copper development. All holes were all
drilled at -60 degrees inclination, so the intersect thicknesses do
not represent true thicknesses.
Alan Stephens, President and CEO of Coro commented, "The results of
this short drilling program continue to demonstrate the potential
for heap leachable copper mineralization in a partially oxidized
chalcocite enrichment blanket at Chacay. We now intend to complete
detailed structural and leached cap mapping and rock chip sampling
over the core of the Chacay system with a view to defining the
distribution of original primary and secondary copper minerals.
Based on the outcome of this, a second round of drilling will then
be planned."
All RC holes were sampled on a 2 m continuous basis, with samples
riffle split on site and one quarter sent to the Andes Analytical
Assaying laboratory in Santiago. A second quarter was stored at a
MCAL facility for reference. Samples were transported to the
laboratory by Andes Analytical Assaying under the supervision of
MCAL. Samples were prepared using the following standard protocol:
drying, crushing to better than 80% passing -10#, homogenizing,
splitting and pulverizing a 400 g subsample to 95% passing -150#.
All samples were analyzed by sequential assaying for CuT, CuSol and
CuCN. A full QA/QC program, involving insertion of appropriate
blanks, standards and duplicates was employed with acceptable results.
Angelo Peri, VP Exploration, Coro Mining Corp, a geologist with more
than 24 years was responsible for the design and conduct of the
exploration, and Alan Stephens, FIMMM, President and CEO, of Coro
Mining Corp, a geologist with more than 34 years of experience is
the Qualified Person for the purposes of NI 43-101.
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 core property is the advanced San Jorge
copper-gold project, in Argentina, and the Company holds other
earlier stage 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 Columbi a, Alberta, Saskatchewan, Manitoba, Ontario, New
Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.
SOURCE: Coro Mining Corp.
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682 5546
investor.info@coromining.com
www.coromining.com