Welcome!

News Feed Item

Coro Announces Drilling Results from its El Desesperado Project, Chile

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/27/14 -- Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) Coro has recently completed a 5 hole, 1191m diamond drilling program (EDH-01 to 05) and a 7 hole, 950m reverse circulation drilling program (CED-R-9 to 15) at its El Desesperado copper project, located 7 km NW of the city of Calama in the II Region of Chile, and immediately west of Codelco's Toki Cluster of copper deposits (Figure 1: http://media3.marketwire.com/docs/COP0227a.pdf).

The objective of this drilling program was to confirm the presence of significant near surface leachable copper mineralization contained within a partially oxidized chalcocite blanket, similar to that intersected in our 2012 drilling. Assay results and drill description for the program are summarized below;


Table 1; Drill Intersections                                
                                                            
------------------------------------------------------------
Hole            From        To         m      CuT%      CuS%
------------------------------------------------------------
EDH-01          12.8        28      15.2      0.26      0.19
------------------------------------------------------------
EDH-03            16        40        24      0.26      0.25
                                                            
                  46        52         6      0.38      0.35
                  56        68        12      3.03      2.22
------------------------------------------------------------
EDH-04            20        30        10      0.39      0.28
------------------------------------------------------------
CED-R-11          32        68        36      0.32      0.24
------------------------------------------------------------
CED-R-12           6        32        26      0.40      0.38
------------------------------------------------------------

EDH-01, 03 & 04 and CED-R-11 & 12 intersected the same partially oxidized and leached chalcocite blanket as CED-R-04, but significantly thinner. EDH-05 was a diamond tail of RC hole CED-R-04 drilled in November 2012 which intersected 204m at 0.55%CuT from surface before the hole was lost. Core logging of EDH-05 indicates that the RC hole was lost in a major fault and only sporadic mineralization was encountered at depth. EDH-02 was targeted at intersecting primary mineralization at depth beneath the old workings; trace amounts of bornite and chalcopyrite were intersected over a 48m width, but this mineralization did not return copper assays in excess of 0.2%CuT. CED-R-9, 10, 13, 14 and 15 were drilled to test possible extensions to the N and E but did not intersect significant mineralization and were not assayed.

Alan Stephens, President and CEO of Coro commented, "These results indicate that the supergene mineralization is of more reduced dimensions than we had expected, due to a more pronounced structural control; a greater degree of leaching; and the presence of a post mineral porphyry and breccia complex which has invaded the prospective area (Figure 2: http://media3.marketwire.com/docs/COP0227b.pdf). A major NNE oriented fault, as well as NW oriented structures, appear to have influenced blanket thickness, and the NNE Main Fault may also be controlling the emplacement of primary mineralization. Finally, the copper oxides are present partly in the form of water soluble copper sulphates and it is possible that some of this copper may have been washed away during diamond drilling, particularly in more heavily fractured core.

The area drilled is some 200-300m topographically higher than the adjacent Toki deposits and this is reflected in the higher level alteration assemblage at El Desesperado. Mineralization identified so far is almost entirely supergene in nature and is associated with quartz-sericite-pyrite (QSP) alteration of Triassic sediments, particularly where these have been converted to a crackle breccia; and of a hydrothermal breccia emplaced in the Main Fault. The primary driver for this QSP alteration and supergene chalcocite has not yet been found, but may be a Toki style porphyry copper system located at depth. The trace amounts of bornite intersected in EDH-02 support this concept.

As recently announced, Coro has agreed a three month extension to the February 17th 2014 option payment with the property owners, at a cost of US$20,000 per month. During this period, we will evaluate all of the available data and determine our next course of action."


Table 2; Collar Coordinates                                               
                                                                          
--------------------------------------------------------------------------
Hole                  East        North    Elev       Az      Inc       TD
--------------------------------------------------------------------------
EDH-01              501103      7520475    2515      260      -60   249.25
EDH-02              501230      7520546    2468      260      -55      351
EDH-03              501047      7520478    2517      240      -60      218
EDH-04              501019      7520563    2529      240      -60      220
EDH-05              501061      7520473    2513        0      -90      153
CED-R-9             501051      7520803    2535        0      -90      240
CED-R-10            501138      7520744    2531        0      -90      160
CED-R-11            501052      7520509    2522        0      -90      120
CED-R-12            501002      7520503    2499        0      -90      120
CED-R-13            501048      7520616    2506        0      -90      120
CED-R-14            501100      7520622    2505        0      -90      120
CED-R-15            501145      7520652    2502        0      -90       70
--------------------------------------------------------------------------

Sampling and Assay Protocol

The mineralized sections of diamond drill holes were sampled on a 2m continuous basis, with core samples split on site and one half delivered to the Andes Analytical Assaying ("AAA") prep lab by Coro personnel. The remaining core was stored at a Coro facility for reference. Pulp samples were transported to the AAA assay laboratory in Santiago by AAA personnel. RC holes CED-R-11 & 12 were sampled on a 2 m continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assaying prep lab by Coro personnel. A second quarter was stored on site for reference.

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 assayed for CuT, CuS and Mo by AAS. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed for the diamond drill core sampling with acceptable results. True widths have not been determined.

About El Desesperado:

The El Desesperado copper project, is located 7 km NW of the city of Calama in the II Region of Chile, and immediately west of Codelco's Toki Cluster of copper deposits.

Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 31 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 38 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.

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 properties include the Berta, El Desesperado, and Payen copper properties located in Chile and the advanced San Jorge copper-gold project, in Argentina.

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 potential mineralization and geological comparisons 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 Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
"The Striim platform is a full end-to-end streaming integration and analytics platform that is middleware that covers a lot of different use cases," explained Steve Wilkes, Founder and CTO at Striim, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"With Digital Experience Monitoring what used to be a simple visit to a web page has exploded into app on phones, data from social media feeds, competitive benchmarking - these are all components that are only available because of some type of digital asset," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Datera, that offers a radically new data management architecture, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Datera is transforming the traditional datacenter model through modern cloud simplicity. The technology industry is at another major inflection point. The rise of mobile, the Internet of Things, data storage and Big...
Kubernetes is an open source system for automating deployment, scaling, and management of containerized applications. Kubernetes was originally built by Google, leveraging years of experience with managing container workloads, and is now a Cloud Native Compute Foundation (CNCF) project. Kubernetes has been widely adopted by the community, supported on all major public and private cloud providers, and is gaining rapid adoption in enterprises. However, Kubernetes may seem intimidating and complex ...
"Outscale was founded in 2010, is based in France, is a strategic partner to Dassault Systémes and has done quite a bit of work with divisions of Dassault," explained Jackie Funk, Digital Marketing exec at Outscale, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.