look what Dorato intersected today...so the bets that we find gold nextto the biggest discovery ever are not so bad i think ...BASED on the geologyof hole-5 and that all juniors in this region are hitting gold....
DoratoResources Inc.: MineraAfrodita’s Drill Program Illegally Suspended byPeruvianAuthorities-Grounds for the Suspension Fall Outside of theEstablishedPeruvian 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)announcesthat Minera Afrodita has received notice from the Peruvianminingregulator (OSINERGMIN), that exploration and resourcedefinitiondrilling in the Cordillera del Condor must be suspendedimmediately.The regulator has stated that the suspension will be ineffect untilMinera Afrodita presents evidence of its authorization touse the landwhere exploration works are being carried out. The Companybelieves,based on legal advice, that this reasoning has no legal basis.Doratohas a right to acquire 100% of Afrodita.
Suspension of Activities
ThePeruviangovernment is stating that although Minera Afrodita haslegitimate,long-standing mining claims and a valid drill permit, itdoes not ownthe surface rights and therefore cannot proceed with thepreviouslypermitted and officially endorsed drill program. The Companybelieves,based on legal advice, that this reasoning has no legalbasis, as MineraAfrodita has only carried out exploration work onstate-owned land,where such work is expressly authorized underPeruvian Mining Lawpursuant to which no additional authorization isrequired.
Theexploration authorization was granted to MineraAfrodita in December2009, after having agreed with the localpopulation, in a publicassembly in the Santa Maria de Nieva town, theundertaking ofexploration activities in the area. Minera Afroditainformed both theMinistry of Energy and Mines (MEM) and OSINERGMINabout the commencementof the exploration works on December 10, 2009.The notice to suspendactivities, received by Minera Afrodita fromOSINERGMIN has come morethan two months after that formal notice wasdelivered.
The stancetaken by the Peruvian mining regulatorOSINERGMIN is fundamentallydifferent to that taken with all otherPeruvian-based mining andexploration companies and sends a negativemessage. The ruling will donothing to control illegal miningoperations being conducted on Peruviannational territory bynon-Peruvian nationals - unregulated, illegalmining in neighbouringEcuador has already caused serious environmentaldamage in thatjurisdiction.
Dorato's involvement in theCordillera Del Condoris based on the premise that the geologicalterrane hosting theworld-class Fruta Del Norte and Mirador deposits inEcuador, continuesinto the Peruvian territory, where Dorato has rightsto acquire a 100%interest in 800 square kilometres of premiumexploration ground. InEcuador, the acquisition of resources discoveredby junior explorationcompanies has totalled almost $2 Billion USD.Dorato managementbelieves, and the results to date indicate, that thePeruvian territoryhas potential to host multiple significant to verysignificant base andprecious mineral deposits of similar size and tenorto those discoveredto date on the Ecuadoran side of the border. Thepotential discoveryand subsequent production of such deposits wouldrepresent significantsocial and financial contributions at both thelocal and nationallevels in Peru.
Dorato has sought legal adviceand will seek toutilize the full recourse of both national andinter-national law inorder to protect its investments. The Company willbe lodging officialcomplaints with the Peruvian Consulate in Canada,the Canadian ForeignOffice, the Canadian Consulate in Lima, with thehighest levels ofPeruvian government, and under the recently signedCanadian - Peruvianfree-trade agreement.
Dorato has a right toacquire 100% ofMinera Afrodita and all option agreements to acquire100% interest inthe properties remain intact. Tenure issued to Peruvianoptioneesremains in good standing and is not impacted by the suspension.
Drill Results
TAR-012intersected18.0m grading 35.9 g/t gold and 46.9 g/t silver. Themineralizedstructure is interpreted to be dipping south and thedrillhole is anglednorth, being designed for an intersection normal tothat structure - thedrill core is not oriented and there isinsufficient information todetermine the precise dip of the structure,but the true thickness isinterpreted to be in the range of 12-18m. Asecond intersection of 22.7mgrading 3.39 g/t gold included 7.04m at8.78 g/t gold. Theseintersections are considerably thicker and highergrade than thoseexposed by the illegal underground mining, where mineworkings typicallyoccur over 1-2 meters. The Minera Afrodita drillingtherefore providesthe 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
Finalresultsfor TAR-002 have now been received with 4.0m grading 12.81 g/tgold. Theresults extend high grade poly-sulphide veins 50m furtherwest than waspreviously mapped. Mineralization in the wall rock isstrong, grading4.58 g/t gold over 12.0m - indicating bulk-tonnagepotential.
DrillholeTAR-007 intersected a previously unknownillegal underground working.The void was 0.95m wide and no rock wasrecovered. The hanging wallsequence, immediately above the workinggrades 1.45m at 4.59 g/t goldand 27.8 g/t silver. The footwallintersection, immediately below theworking grades 2.80m at 3.49 g/tgold and 126.3 g/t silver. The totalaggregate thickness, including theunderground working is 5.20m.However, the total grade cannot beestablished because the core portionof the vein has been mined out.Nevertheless the intercept is indiciatveof the well endowed nature ofthe Taricori system. The full footwallsequence underlying the workingis 16.38m grading 1.9 g/t gold and 57.9g/t silver, demonstratingrobust wall-rock mineralization as well as thehigh-grade,poly-metallic sulphide veins.
Drillhole TAR-008(orientednorthward and drilled parallel to TAR-007) intersected 2.75mat 2.78g/t gold and 47.9 g/t silver. A second intersection of 8.69mgrading3.29 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.
Basedonresults to date, grade appears to be increasing eastward andsuggeststhe gold and silver bearing system has significant sizepotential. Priorto the current illegal temporary suspension of drillactivities MineraAfrodita had planned a continued and aggressiveexploration and resourcedefinition program to test this concept inaddition to establishing thebulk-tonnage copper - gold potential ofthe intrusive related Lucero andCobrecon systems where exploration todate has outlined two large tovery large copper - gold bearing systems.
Cordillera Del Condor Background
TheCordilleraDel Condor District has been one of the most importantgold-bearingareas in Ecuador and Peru since pre-Incan times. On theEcuador side ofthe border, historical small-scale but high-grade, goldproduction isreported to have exceeded 100,000 ozs. per year.
Modernexplorationon the Ecuadorian side of the border has recently resultedin thediscovery of multiple world-class gold and base metal-bearingdeposits,such as Kinross Gold Corp's Fruta del Norte Gold deposit(inferredresources; 13.6 million ounces gold at 7.23 g/t gold),CorrienteResources Inc.'s Mirador Copper-Gold porphyry deposit(measured &indicated; 438 million tonnes at 0.61% copper, 0.19 g/tgold, andinferred resources 235 million tonnes at 0.52% copper, 0.17g/t gold)and the Mirador Norte Copper-Gold porphyry deposit (indicated171million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46milliontonnes 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 technicalinformation withrespect to the above deposits was obtained through therespectivecompanies' public disclosure documents available on SEDAR.
About Dorato Resources Inc.
DoratoResourcesInc. is mineral exploration company focused on the highlyprospectiveCordillera del Condor Gold District in northern Peru andadjacent to theborder with Ecuador - one of the most importantgold-bearing districtsin the region since pre-Incan times. Dorato,through a series of optionagreements, has the right to wholly acquirean extensive land package ofapproximately 800 square kilometres -providing the Company a highlystrategic position in this emergent golddistrict. Dorato is well fundedand possesses experienced managementwith a proven track record.
Qualified Person
EurGeolKeithJ. Henderson, P.Geo. Dorato's President and CEO and a qualifiedpersonas defined by National Instrument 43-101, has reviewed thescientificand technical information that forms the basis for this newsrelease.Mr. Henderson is not independent of the Company as he is anofficer anda director.
The analytical results were reviewed byTansyO'Connor-Parsons, Senior Geochemist. Minera Afrodita on-sitepersonnelrigorously collect and track samples which are then securitysealed andshipped to ACME Laboratories, Cuenca, Ecuador for preparationand on toVancouver, BC for analysis. Au is analyzed by fire assay on a30galiquot followed by fusion and an ICP-OES finish. Samples greaterthan10 ppm are analyzed by classical gravimetric fire assay. ACME'squalitysystem complies with the requirements for the internationalstandardsISO 9001:2000 and ISO 17025:1999. Analytical accuracy andprecision aremonitored by the analysis of reagent blanks, referencematerial andreplicate samples. Quality control is further assured bythe use ofinternational and in-house standards. Certified referencematerial,blank material, and quarter-core duplicates are inserted atregularintervals into the sample sequence by field personnel prior toshippingin order to independently assess analytical accuracy andprecision. Inaddition, representative blind duplicate samples areroutinelyforwarded an ISO- compliant third party laboratory foradditionalquality control.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith J. Henderson, President and CEO
Cautionary Statement
Thispressrelease contains "forward-looking statements" within the meaningof theUnited States Private Securities Litigation Reform Act of 1995and"forward looking information" within the meaning of the BritishColumbiaSecurities Act and the Alberta Securities Act. Generally, thewords"expect", "intend", "estimate", "will" and similar expressionsidentifyforward-looking information. By their very nature,forward-lookingstatements are subject to known and unknown risks anduncertainties thatmay cause our actual results, performance orachievements, or that ofour industry, to differ materially from thoseexpressed or implied inany of our forward looking information.Statements in this press releaseregarding OSINERGMIN and the Company'sintention with respect to thedecisions of OSINERGMIN and Dorato'sbusiness or proposed business,which are not historical facts areforward-looking information thatinvolve risks and uncertainties, suchas estimates and statements thatdescribe Dorato's future plans,objectives or goals, including words tothe effect that Dorato ormanagement expects a stated condition orresult to occur. Sinceforward-looking statements address events andconditions, by their verynature, they involve inherent risks anduncertainties. Actual resultsin each case could differ materially fromthose currently anticipatedin such statements. Investors are cautionednot to place undue relianceon forward-looking statements, which speakonly as of the date they aremade. All of the Company's Canadian publicdisclosure filings may beaccessed via www.sedar.comandreaders are urged to review these materials, including thetechnicalreports filed with respect to the Company's mineralproperties. Theforegoing commentary is based on the beliefs,expectations and opinionsof management on the date the statements aremade. The Company disclaimsany intention or obligation to update orrevise forward-lookinginformation, whether as a result of newinformation, future events orotherwise.
Neither TSX VentureExchange nor its RegulationServices Provider (as that term is definedin the policies of the TSXVenture Exchange) accepts responsibility forthe adequacy or accuracy ofthis release