Dorato Receives Positive Trench ResultsDorato Receives Positive Trench Results from Lucero Target on Cordillera del Condor in NW Peru
https://finance.yahoo.com/news/Dorato-Receives-Positive-ccn-307309649.html?x=0&.v=1
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 24, 2010) - Dorato Resources Inc. (TSX VENTURE:DRI - News; OTCQX:DRIFF)(FRANKFURT:DO5 - News) -
Highlights include open-ended surface intercepts:
Trench 5, 15.0 metres grading 1.66 g/t gold
Trench 7, 50.0 metres grading 1.01 g/t gold
Trench 9, 63.2 metres grading 1.63 g/t gold
Dorato Resources Inc. ("Dorato" or the "Company") is pleased to announce receipt of additional results from Minera Afrodita's 2010 exploration program at the Lucero target on the Cordillera del Condor Project in northern Peru. Lucero is located in the Taricori Block within an extensive land position that comprises 135 kilometres of strike length. Dorato has a right to acquire 100% of Minera Afrodita.
To date, a total of 11 trenches have been excavated within the Lucero target area, totalling 668 metres in length. Results for Trench 1 and its extensions were previously released (NR10-020 and -022) - Trench 1 intercepted surface mineralization grading 2.08 g/t gold over 188.0 metres length.
Results for Trenches 2 to 11, totalling 480 metres in length, include multiple continuous surface intercepts greater than 1.0 g/t gold. Highlights, as detailed in Table 1 below, include 63.2 metres grading 1.63 g/t gold. Critically, Trenches 5, 7 and 9 returned a total of 150 metres of composite mineralization grading from 1.01 g/t to 1.63 g/t gold, which remains open. Trenching anomalies now cover and an extensive 730 metres by 530 metres within the larger Lucero anomaly. These results continue to suggest that the Lucero discovery zone has significant bulk tonnage potential.
"Surface trenching demonstrates the consistent grade and continuous nature of the gold bearing hydrothermal system at Lucero." Stated Keith Henderson, President & CEO of Dorato, "Gold mineralization is present in all of the surface trenches excavated to date and 3 of the trenches contain greater than 1 g/t Au over 50-plus metres. The Lucero target is a high-quality exploration target that has been defined by rigorous science and now comprises multiple layers of geophysical and geochemical data."
To view Figures 1 and 2, please click on the following link: https://media3.marketwire.com/docs/DRI1and2Figures.pdf
Lucero Discovery
Lucero is a 100% grass-roots discovery. The Lucero target was initially identified by magnetic and electromagnetic geophysical data. The Lucero discovery zone mineralization now forms an extensive gold and copper mineralized system that extends over an area of 1.1 kilometres by 750 metres. Table 3 summarized the dimensions of the various coincident anomalies in the area.
Table 1. New Trench Intercepts (Trenches 2 to 11)
INTERVAL
TRENCH TOTAL LENGTH FROM TO LENGTH GOLD COPPER
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Name (m) (m) (m) (m) (g/t) (%)
------------------------------------------------------------
------------------------------------------------------------
Trench 2 19.4 0.0 1.0 1.0 1.09 0.03
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Trench 3 21.0 15.0 16.5 1.5 0.33 0.07
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Trench 4 50.0 1.0 2.0 1.0 0.44 0.17
8.0 9.0 1.0 0.64 0.30
12.0 14.2 2.2 0.41 0.16
18.2 19.2 1.0 0.82 0.12
20.2 31.2 11.0 1.11 0.16
46.0 50.0 4.0 7.98 0.10
------------------------------------------------------------
Trench 5 15.0 0.0 15.0 15.0 1.66 0.19
------------------------------------------------------------
Trench 6 60.0 12.5 14.0 1.5 2.75 0.02
36.0 39.0 2.8 0.53 0.18
------------------------------------------------------------
Trench 7 73.0 1.2 3.2 2.0 1.14 0.04
12.0 13.5 1.5 0.57 0.05
15.9 17.4 1.5 0.39 0.09
21.0 22.0 1.0 1.07 0.22
25.5 27.0 1.5 2.59 0.19
23.0 73.0 50.0 1.01 0.23
incl. 52.2 73.0 20.8 1.42 0.39
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Trench 8 19.0 0.0 2.0 2.0 0.83 0.02
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Trench 9 63.2 0.0 63.2 63.2 1.63 0.19
incl. 8.0 45.0 37.0 2.04 0.18
incl. 54.0 63.2 9.2 2.62 0.14
------------------------------------------------------------
Trench 10 80.5 33.4 34.4 1.0 0.47 0.00
45.5 47.5 2.0 0.36 0.05
54.8 59.8 5.0 0.58 0.09
71.0 73.0 2.0 0.34 0.28
79.5 80.5 1.0 0.33 0.38
------------------------------------------------------------
Trench 11 78.7 12.6 14.8 2.2 0.96 0.05
61.9 63.4 1.5 0.33 0.20
68.4 69.9 1.5 0.76 0.19
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Table 2. Trench 1 Intercepts (released previously)
INTERVAL
TRENCH TOTAL LENGTH FROM TO LENGTH GOLD COPPER
------------------------------------------------------------
Name (m) (m) (m) (m) (g/t) (%)
------------------------------------------------------------
------------------------------------------------------------
Trench 1 188.0 0 188 188 2.08 0.20
incl. 81.6 188 106.4 3.13 0.26
incl. 82.3 122.3 40 3.00 0.16
incl. 128.6 177.5 48.9 3.97 0.25
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Table 3. Approximate anomaly dimensions within the Lucero Target Area.
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Exploration Technique Width (East-West) Length (North-South)
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Magnetic Anomaly 840 metres 940 metres
Electromagnetic Anomaly 640 metres 600 metres
Soil Geochemistry 700 metres 1,100 metres
Trench Geochemistry 530 metres 730 metres
Rock Sample Geochemistry 550 metres 1,100 metres
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Ongoing Work
Work programs are ongoing throughout the 1,050 km2 prospective Au-Cu belt in Northern Peru. Airborne geophysical data collection and analysis in ongoing and is a key component of Minera Afrodita's exploration strategy. Approximately 65% of the geophysical data completion has been completed. The survey will be suspended in early December and will recommence at the earliest opportunity in January 2011. Additional exploration work at Lucero, in the Taricori Block, focuses on bringing highest quality targets within the discovery zone to the drill testing stage. Drilling is expected to commence in the coming weeks.
Cordillera Del Condor Background
The Cordillera del Condor has been one of the most important gold-bearing areas in Ecuador and Peru since pre-Incan times. On the Ecuador side of the border, historical high-grade, small scale gold production is reported to have exceeded 100,000 oz per year.
Modern exploration on the Ecuadorian side of the border has resulted in the discovery of multiple, significant and world-class gold and base metal-bearing districts, such as Kinross Gold Corp.'s Fruta del Norte Gold deposit with an inferred resource of 13.6 million contained ounces of gold averaging 7.23 g/t gold), the Mirador Copper-Gold porphyry deposit (recently sold by Corriente Resources Inc.) with measured & indicated resources of 438 million tonnes at 0.61% copper, 0.19 g/t gold plus inferred resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and the Mirador Norte Copper-Gold porphyry deposit (indicated 171 million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 million tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals & Mining Inc's Jerusalem Gold deposit in the Chinapintza district with measured & indicated resources of 0.58 million contained ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces inferred contained ounces averaging 11.5 g/t gold). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
Qualified Person
EurGeol Keith J. Henderson, P.Geo. Dorato's President and CEO and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and a shareholder.
The geochemical results were reviewed by Tansy O'Connor-Parsons, Senior Geochemist. Minera Afrodita on-site personnel rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Lima, Peru for assay. ACME's quality system complies with the requirements for the international standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by field personnel in order to independently assess analytical accuracy. In addition, representative blind duplicate samples are routinely forwarded to ACME and an ISO-compliant third party laboratory for additional quality control.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on the highly prospective Cordillera del Condor Gold District in northern Peru and adjacent to the border with Ecuador - one of the most important gold-bearing districts in the region since pre-Incan times. Dorato, through a series of option agreements has the right to wholly acquire an extensive land package of approximately 1,050-square-kilometres - providing the Company with the largest land position in the Cordillera del Condor and a highly strategic position in this emergent gold district. Dorato is well funded and possesses experienced management with a proven track record.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith J. Henderson, President and CEO