look what Dorato intersected today...so the bets that we find gold next to the biggest discovery ever are not so bad i think bad on the geology of hole-5 and that all juniors in this region are hitting gold.
Dorato Resources Inc.: MineraAfrodita’s Drill Program Illegally Suspended by PeruvianAuthorities-Grounds for the Suspension Fall Outside of the EstablishedPeruvian Mining Law
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2010) - Dorato Resources Inc. (TSX VENTURE:DRI - News; FRANKFURT:DO5 - News) -
Dorato Receives Additional Taricori Drill Results from Minera Afrodita
Intersects multiple zones of high grade gold mineralization - including gold grades of up to 15 oz/t (519g/t) gold over 1.22m
TAR 012 Intersect: 18.0m at 35.9 g/t gold and 46.97 g/t silver
Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:DRI - News; FRANKFURT:DO5 - News)announces that Minera Afrodita has received notice from the Peruvianmining regulator (OSINERGMIN), that exploration and resource definitiondrilling in the Cordillera del Condor must be suspended immediately.The regulator has stated that the suspension will be in effect untilMinera Afrodita presents evidence of its authorization to use the landwhere exploration works are being carried out. The Company believes,based on legal advice, that this reasoning has no legal basis. Doratohas a right to acquire 100% of Afrodita.
Suspension of Activities
ThePeruvian government is stating that although Minera Afrodita haslegitimate, long-standing mining claims and a valid drill permit, itdoes not own the surface rights and therefore cannot proceed with thepreviously permitted and officially endorsed drill program. The Companybelieves, based on legal advice, that this reasoning has no legalbasis, as Minera Afrodita has only carried out exploration work onstate-owned land, where such work is expressly authorized underPeruvian Mining Law pursuant to which no additional authorization isrequired.
The exploration authorization was granted to MineraAfrodita in December 2009, after having agreed with the localpopulation, in a public assembly in the Santa Maria de Nieva town, theundertaking of exploration activities in the area. Minera Afroditainformed both the Ministry of Energy and Mines (MEM) and OSINERGMINabout the commencement of the exploration works on December 10, 2009.The notice to suspend activities, received by Minera Afrodita fromOSINERGMIN has come more than two months after that formal notice wasdelivered.
The stance taken by the Peruvian mining regulatorOSINERGMIN is fundamentally different to that taken with all otherPeruvian-based mining and exploration companies and sends a negativemessage. The ruling will do nothing to control illegal miningoperations being conducted on Peruvian national territory bynon-Peruvian nationals - unregulated, illegal mining in neighbouringEcuador has already caused serious environmental damage in thatjurisdiction.
Dorato's involvement in the Cordillera Del Condoris based on the premise that the geological terrane hosting theworld-class Fruta Del Norte and Mirador deposits in Ecuador, continuesinto the Peruvian territory, where Dorato has rights to acquire a 100%interest in 800 square kilometres of premium exploration ground. InEcuador, the acquisition of resources discovered by junior explorationcompanies has totalled almost $2 Billion USD. Dorato managementbelieves, and the results to date indicate, that the Peruvian territoryhas potential to host multiple significant to very significant base andprecious mineral deposits of similar size and tenor to those discoveredto date on the Ecuadoran side of the border. The potential discoveryand subsequent production of such deposits would represent significantsocial and financial contributions at both the local and nationallevels in Peru.
Dorato has sought legal advice and will seek toutilize the full recourse of both national and inter-national law inorder to protect its investments. The Company will be lodging officialcomplaints with the Peruvian Consulate in Canada, the Canadian ForeignOffice, the Canadian Consulate in Lima, with the highest levels ofPeruvian government, and under the recently signed Canadian - Peruvianfree-trade agreement.
Dorato has a right to acquire 100% ofMinera Afrodita and all option agreements to acquire 100% interest inthe properties remain intact. Tenure issued to Peruvian optioneesremains in good standing and is not impacted by the suspension.
Drill Results
TAR-012intersected 18.0m grading 35.9 g/t gold and 46.9 g/t silver. Themineralized structure is interpreted to be dipping south and thedrillhole is angled north, being designed for an intersection normal tothat structure - the drill core is not oriented and there isinsufficient information to determine the precise dip of the structure,but the true thickness is interpreted to be in the range of 12-18m. Asecond intersection of 22.7m grading 3.39 g/t gold included 7.04m at8.78 g/t gold. These intersections are considerably thicker and highergrade than those exposed by the illegal underground mining, where mineworkings typically occur over 1-2 meters. The Minera Afrodita drillingtherefore provides the first indication of the true size and gradepotential at Taricori.
Table 1: Summary of Provisional Intersects Results(i): Platform 3 -------------------------------------------------------------------------- DRILLHOLE FROM TO WIDTH GOLD SILVER ZINC--------------------------------------------------------------------------TAR-012 Interval 1 16 34 18.0m 35.90 g/t 46.9 g/t 1.07%-------------------------------------------------------------------------- including 20 34 14.0m 46.09 g/t 59.6 g/t 1.37%-------------------------------------------------------------------------- and 22.0 23.22 1.22m 519.35 g/t 574.9 g/t 10.95%-------------------------------------------------------------------------- Interval 2 49.3 72.0 22.70m 3.39 g/t 16.2 g/t 0.96%-------------------------------------------------------------------------- including 64.96 72.0 7.04m 8.78 g/t 22.7 g/t 1.39%-------------------------------------------------------------------------- and 64.96 65.91 0.95m 42.67 g/t 88.7 g/t 6.88%--------------------------------------------------------------------------(i) using a cutoff of 0.25 g/t gold and allowing 4m of dilutionIntersect: The Au grades and intervals in Hole 12 are considered to be provisional as three samples that reported more than 30 g/t Au (by gravimetric fire assay) are currently being re-analysed by the metallic screen fire assay method in order to confirm their high grades.Table 2: Summary of Intersections(i): Platform 1, 2 & 3 --------------------------------------------------------------------------- DRILLHOLE FROM TO WIDTH GOLD SILVER ZINC--------------------------------------------------------------------------- Intersection 1 28.7 36.7 8.0m 0.70 g/t 3.0 g/t 0.02% -------------------------------------------------------------------TAR 002 Intersection 2 316 328 12.0m 4.58 g/t 2.1 g/t 0.08% ------------------------------------------------------------------- including 316 320 4.0m 12.81 g/t 3.7 g/t 0.04%--------------------------------------------------------------------------- Interval 1 42.8 44.25 1.45m 4.59 g/t 37.9 g/t 0.05% ------------------------------------------------------------------- Interval 2 45.2 61.58 16.38m 1.89 g/t 57.9 g/t 1.73%TAR 007 ------------------------------------------------------------------- including 45.2 48.0 2.8m 3.49 g/t 126.3 g/t 0.08% ------------------------------------------------------------------- and 50.25 54.6 4.35m 3.12 g/t 88.8 g/t 0.49%--------------------------------------------------------------------------- Intersection 1 65.0 67.75 2.75m 2.78 g/t 47.9 g/t 4.24% ------------------------------------------------------------------- Intersection 2 87.68 96.37 8.69m 3.29 g/t 61.0 g/t 1.75%TAR 008 ------------------------------------------------------------------- including 87.68 91.73 4.05m 1.70 g/t 16.5 g/t 1.20% ------------------------------------------------------------------- and 93.97 96.37 2.40m 8.42 g/t 187.7 g/t 3.75%---------------------------------------------------------------------------TAR 009 Intersection 1 4.8 8.5 3.7m 1.45 g/t 3.7 g/t 0.02% ------------------------------------------------------------------- Intersection 2 43.5 49.5 6.0m 1.46 g/t 6.9 g/t 0.07% ------------------------------------------------------------------- including 44.3 45.3 1.0m 7.19 g/t 11.7 g/t 0.01%---------------------------------------------------------------------------TAR 010 Drilled southward - no significant results --------------------------------------------------------------------------- Intersection 1 0 3.0 3.0m 4.95 g/t 5.3 g/t 0.35% -------------------------------------------------------------------TAR-011 Intersection 2 23.56 24.8 2.54m 4.14 g/t 18.4 g/t 0.72% ------------------------------------------------------------------- Intersection 3 32.86 33.65 0.79m 8.34 g/t 35.6 g/t 2.14%---------------------------------------------------------------------------(i) using a cutoff of 0.25 g/t gold and allowing 4m of dilution
Finalresults for TAR-002 have now been received with 4.0m grading 12.81 g/tgold. The results extend high grade poly-sulphide veins 50m furtherwest than was previously mapped. Mineralization in the wall rock isstrong, grading 4.58 g/t gold over 12.0m - indicating bulk-tonnagepotential.
Drillhole TAR-007 intersected a previously unknownillegal underground working. The void was 0.95m wide and no rock wasrecovered. The hanging wall sequence, immediately above the workinggrades 1.45m at 4.59 g/t gold and 27.8 g/t silver. The footwallintersection, immediately below the working grades 2.80m at 3.49 g/tgold and 126.3 g/t silver. The total aggregate thickness, including theunderground working is 5.20m. However, the total grade cannot beestablished because the core portion of the vein has been mined out.Nevertheless the intercept is indiciatve of the well endowed nature ofthe Taricori system. The full footwall sequence underlying the workingis 16.38m grading 1.9 g/t gold and 57.9 g/t silver, demonstratingrobust wall-rock mineralization as well as the high-grade,poly-metallic sulphide veins.
Drillhole TAR-008 (orientednorthward and drilled parallel to TAR-007) intersected 2.75m at 2.78g/t gold and 47.9 g/t silver. A second intersection of 8.69m grading3.29 g/t gold and 61 g/t silver included 4.05m at 1.70 g/t gold (16.5g/t silver) and 2.40m grading 8.42 g/t gold and 187.7 g/t silver.
Basedon results to date, grade appears to be increasing eastward andsuggests the gold and silver bearing system has significant sizepotential. Prior to the current illegal temporary suspension of drillactivities Minera Afrodita had planned a continued and aggressiveexploration and resource definition program to test this concept inaddition to establishing the bulk-tonnage copper - gold potential ofthe intrusive related Lucero and Cobrecon systems where exploration todate has outlined two large to very large copper - gold bearing systems.
Cordillera Del Condor Background
TheCordillera Del Condor District has been one of the most importantgold-bearing areas in Ecuador and Peru since pre-Incan times. On theEcuador side of the border, historical small-scale but high-grade, goldproduction is reported to have exceeded 100,000 ozs. per year.
Modernexploration on the Ecuadorian side of the border has recently resultedin the discovery of multiple world-class gold and base metal-bearingdeposits, such as Kinross Gold Corp's Fruta del Norte Gold deposit(inferred resources; 13.6 million ounces gold at 7.23 g/t gold),Corriente Resources Inc.'s Mirador Copper-Gold porphyry deposit(measured & indicated; 438 million tonnes at 0.61% copper, 0.19 g/tgold, and inferred resources 235 million tonnes at 0.52% copper, 0.17g/t gold) and the Mirador Norte Copper-Gold porphyry deposit (indicated171 million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 milliontonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals & MiningInc's Jerusalem Gold deposit in the Chinapintza district (measured& indicated; 0.58 million ounces gold at 12.4 g/t gold, inferred;0.71 million ounces at 11.5 g/t gold). The technical information withrespect to the above deposits was obtained through the respectivecompanies' public disclosure documents available on SEDAR.
About Dorato Resources Inc.
DoratoResources Inc. is mineral exploration company focused on the highlyprospective Cordillera del Condor Gold District in northern Peru andadjacent to the border with Ecuador - one of the most importantgold-bearing districts in the region since pre-Incan times. Dorato,through a series of option agreements, has the right to wholly acquirean extensive land package of approximately 800 square kilometres -providing the Company a highly strategic position in this emergent golddistrict. Dorato is well funded and possesses experienced managementwith a proven track record.
Qualified Person
EurGeol KeithJ. Henderson, P.Geo. Dorato's President and CEO and a qualified personas defined by National Instrument 43-101, has reviewed the scientificand technical information that forms the basis for this news release.Mr. Henderson is not independent of the Company as he is an officer anda director.
The analytical results were reviewed by TansyO'Connor-Parsons, Senior Geochemist. Minera Afrodita on-site personnelrigorously collect and track samples which are then security sealed andshipped to ACME Laboratories, Cuenca, Ecuador for preparation and on toVancouver, BC for analysis. Au is analyzed by fire assay on a 30galiquot followed by fusion and an ICP-OES finish. Samples greater than10 ppm are analyzed by classical gravimetric fire assay. ACME's qualitysystem complies with the requirements for the international standardsISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision aremonitored by the analysis of reagent blanks, reference material andreplicate samples. Quality control is further assured by the use ofinternational and in-house standards. Certified reference material,blank material, and quarter-core duplicates are inserted at regularintervals into the sample sequence by field personnel prior to shippingin order to independently assess analytical accuracy and precision. Inaddition, representative blind duplicate samples are routinelyforwarded an ISO- compliant third party laboratory for additionalquality control.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith J. Henderson, President and CEO
Cautionary Statement
Thispress release contains "forward-looking statements" within the meaningof the United States Private Securities Litigation Reform Act of 1995and "forward looking information" within the meaning of the BritishColumbia Securities Act and the Alberta Securities Act. Generally, thewords "expect", "intend", "estimate", "will" and similar expressionsidentify forward-looking information. By their very nature,forward-looking statements are subject to known and unknown risks anduncertainties that may cause our actual results, performance orachievements, or that of our industry, to differ materially from thoseexpressed or implied in any of our forward looking information.Statements in this press release regarding OSINERGMIN and the Company'sintention with respect to the decisions of OSINERGMIN and Dorato'sbusiness or proposed business, which are not historical facts areforward-looking information that involve risks and uncertainties, suchas estimates and statements that describe Dorato's future plans,objectives or goals, including words to the effect that Dorato ormanagement expects a stated condition or result to occur. Sinceforward-looking statements address events and conditions, by their verynature, they involve inherent risks and uncertainties. Actual resultsin each case could differ materially from those currently anticipatedin such statements. Investors are cautioned not to place undue relianceon forward-looking statements, which speak only as of the date they aremade. All of the Company's Canadian public disclosure filings may beaccessed via www.sedar.comand readers are urged to review these materials, including thetechnical reports filed with respect to the Company's mineralproperties. The foregoing commentary is based on the beliefs,expectations and opinions of management on the date the statements aremade. The Company disclaims any intention or obligation to update orrevise forward-looking information, whether as a result of newinformation, future events or otherwise.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release