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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

MarketwireCoro Mining Corp.May 10, 2011 - 01:30:00 PMCoro Announces Start of 2,000m Diamond Drilling Program at Chacay andAcquisition of New Chilean PropertyVANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2011) - Coro Mining Corp.("Coro" or the "Company") (TSX:COP) is pleased to announce the commencement ofa 2,000m diamond drilling program at its 100% owned Chacay porphyry copperproperty, located 12km southeast of the Teck Resources Relincho copperproject, 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 newsreleases dated March 26th 2010, May 4th 2010 and February 8th 2011.Alan Stephens, President and CEO of Coro commented, "This round of drillingwill provide additional geological information about Chacay, will test fordeeper primary copper mineralization, and will further define the continuityof the Nacho Zone chalcocite blanket. If results from this program continue tobe encouraging, the Company intends to embark on a resource definitiondrilling campaign later in the year."Coro is also pleased to announce that it has acquired by staking and optioningfrom a local Chilean claim owner, the El Tapao property, located in the IVRegion of Chile. Coro may acquire 100% of the optioned property by making fourannual payments of US$25,000, followed by a final payment of US$1 million. ElTapao is an early stage, high level alteration zone with potential to host alarge 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 ChacayThe Chacay property hosts a porphyry copper prospect of probable Eocene agethat has previously been drill tested by several companies. The drill holelocations and summary geological information are available for some of theprevious drilling but it has not been possible to obtain the correspondingassay information. A zoned porphyry alteration suite of external propyliticalteration surrounding a phyllically altered core is developed over a distanceof 3500m, oriented west northwest. Three zones of copper mineralization havebeen outlined by the drilling to date.The largest of these, known as the Nacho Zone, occupies an area ofapproximately 900 x 700m centered on Cerro Colorado. This hill has anelevation difference of 300m over the surrounding valleys and hosts a leachedcap, which drilling has shown to vary from 50 to 200m in thickness. Underlyingthe leached cap, a weakly oxidized, flat lying, chalcocite enrichment blankethas been intersected in drilling, that is currently interpreted to be between20m thick on its margins and greater than 100m thick towards its centre. Thechalcocite blanket is thickest and has the highest copper grades whendeveloped within a diorite porphyry intrusive exhibitingsericite-chlorite-quartz alteration, and which contained original primarycopper sulphides. This diorite is cross cut by zones of moderate to strongquartz-sericite-pyrite alteration, which may or may not represent a separatelate porphyry phase, and which generally hosts mineralization grading lessthan 0.2%CuT, with chalcocite occurring only as coatings on pyrite. Thegeometry of the mineralized diorite porphyry is poorly constrained by theexisting drilling and its relationship with other lithologies is obscured bythe 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 Interestwith a US$2 million cap, payable to First Quantum Minerals.CORO MINING CORP.Alan Stephens, President and CEOAbout Coro Mining Corp.:The Company was founded with the goal of building a mining company focused onmedium-sized base and precious metals deposits in Latin America. The Companyintends to achieve this through the exploration for, and acquisition of,projects that can be developed and placed into production. Coro's propertiesinclude the advanced San Jorge copper-gold project, in Argentina, and theChacay, Llancahue and Celeste copper exploration properties located in Chile.This news release includes certain "forward-looking statements" underapplicable Canadian securities legislation. Such forward-looking statements orinformation, including but not limited to those with respect to the prices ofcopper, estimated future production, estimated costs of future production,permitting time lines, involve known and unknown risks, uncertainties, andother factors which may cause the actual results, performance or achievementsof the Company to be materially different from any future results, performanceor achievements expressed or implied by such forward-looking statements orinformation. 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 asthose factors disclosed in the Company's documents filed from time to timewith the securities regulators in the Provinces of British Columbia, Alberta,Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince EdwardIsland and Newfoundland and Labrador.FOR FURTHER INFORMATION PLEASE CONTACT:Coro Mining Corp. Michael Philpot Executive Vice-President   [phone] begin_of_the_skype_highlighting[phone] www.coromining.com