Click here to close now.


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:

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: 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.


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
JFrog has announced a powerful technology for managing software packages from development into production. JFrog Artifactory 4 represents disruptive innovation in its groundbreaking ability to help development and DevOps teams deliver increasingly complex solutions on ever-shorter deadlines across multiple platforms JFrog Artifactory 4 establishes a new category – the Universal Artifact Repository – that reflects JFrog's unique commitment to enable faster software releases through the first pla...
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
The last decade was about virtual machines, but the next one is about containers. Containers enable a service to run on any host at any time. Traditional tools are starting to show cracks because they were not designed for this level of application portability. Now is the time to look at new ways to deploy and manage applications at scale. In his session at @DevOpsSummit, Brian “Redbeard” Harrington, a principal architect at CoreOS, will examine how CoreOS helps teams run in production. Attende...
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
The APN DevOps Competency highlights APN Partners who demonstrate deep capabilities delivering continuous integration, continuous delivery, and configuration management. They help customers transform their business to be more efficient and agile by leveraging the AWS platform and DevOps principles.
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at @DevOpsSummit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
There are so many tools and techniques for data analytics that even for a data scientist the choices, possible systems, and even the types of data can be daunting. In his session at @ThingsExpo, Chris Harrold, Global CTO for Big Data Solutions for EMC Corporation, will show how to perform a simple, but meaningful analysis of social sentiment data using freely available tools that take only minutes to download and install. Participants will get the download information, scripts, and complete en...
Manufacturing has widely adopted standardized and automated processes to create designs, build them, and maintain them through their life cycle. However, many modern manufacturing systems go beyond mechanized workflows to introduce empowered workers, flexible collaboration, and rapid iteration. Such behaviors also characterize open source software development and are at the heart of DevOps culture, processes, and tooling.
Chris Van Tuin, Chief Technologist for the Western US at Red Hat, has over 20 years of experience in IT and Software. Since joining Red Hat in 2005, he has been architecting solutions for strategic customers and partners with a focus on emerging technologies including IaaS, PaaS, and DevOps. He started his career at Intel in IT and Managed Hosting followed by leadership roles in services and sales engineering at Loudcloud and Linux startups.
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Today’s connected world is moving from devices towards things, what this means is that by using increasingly low cost sensors embedded in devices we can create many new use cases. These span across use cases in cities, vehicles, home, offices, factories, retail environments, worksites, health, logistics, and health. These use cases rely on ubiquitous connectivity and generate massive amounts of data at scale. These technologies enable new business opportunities, ways to optimize and automate, al...