Coro Mining Marimaca Exploration Update: Northwards Continuation of Mineralization Confirmed at Atahualpa Highlighted by 120 metres at 1.09% CuT and 106 metres at 0.89% CuT
Coro Mining Marimaca Exploration Update: Northwards Continuation of
Mineralization Confirmed at Atahualpa
Highlighted by 120 metres at 1.09% CuT and 106 metres at 0.89% CuT
VANCOUVER, British Columbia, Feb. 07, 2019 -- Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) is pleased to
announce an update for the Company’s Marimaca Project in the Antofagasta Region of Chile. The first 21 RC holes totalling
6,750 metres have been drilled at Atahualpa and have confirmed the northward extension of copper oxide mineralization from
that previously defined at Marimaca 1-23 and La Atómica. The Marimaca deposit has now been shown to be continuous over
a strike length in excess of 1,000 metres and remains open to the north. As previously announced on November 27, 2018,
underground workings at Atahualpa have been sampled and mineralization is known to be present for at least a further 250
metres beyond the current drill pattern. Marimaca averages in excess of 500 metres in width, narrowing to the south, and
leachable mineralization averages 50 to 200 metres in thickness.
Highlights
Hole ATR-03
From 6 to 84 metres, 78 metres of copper oxide mineralization averaging 0.62% CuT
Hole ATR-04 (extending to Marimaca 1-23 model area)
• From 2 to 122 metres, 120 metres of copper oxide and lesser enriched sulphide mineralization averaging 1.09% CuT
Hole ATR-05
• From 54 to 116 metres, 62 metres of copper oxide and lesser mixed mineralization averaging 0.61% CuT
• From 174 to 248 metres, 74 metres of mixed and enriched copper mineralization averaging 1.06% CuT
Hole ATR-07
• From 0 to 106 metres, 106 metres of copper oxide and mixed mineralization averaging 0.89% CuT
Hole ATR-09
• From 50 to 106 metres, 56 metres of copper oxide and mixed mineralization averaging 1.03% CuT
Commenting on the results, Luis Tondo, CEO of Coro stated: “We are delighted that the first batch of drill results at
Atahualpa, the area adjacent and to the north of Marimaca, has confirmed that the copper oxide mineralized zones extend on
to the Atahualpa claims. This is an important milestone for the project because we are now demonstrating the real potential
of a larger resource at Marimaca, surpassing that established in the Phase I program. As the Phase II program continues and
expands, we look forward to releasing more results confirming the continued growth of the Marimaca Project.”
Further Information
The Phase I drilling that established the initial Marimaca 1-23 resources and the Phase II drilling completed thus far at La
Atómica and Atahualpha are detailed below in Figure 1.
Discussion of Results
Interpretation of all drilling to date shows that two styles of mineralization are present at Marimaca, as illustrated in Figure 1,
namely:
1. To the west, mineralization is more structurally controlled and characterised by weak to moderate north south oriented
parallel fracturing cross cut by 60° east dipping, north south feeders, containing high grade brochantite rich
mineralization, previously mined in the underground workings.
2. To the east, the mineralization is characterised by strong north south penetrative parallel fracturing cross cut by north
east oriented sub vertical feeders and is the continuation of the previously drilled Marimaca style mineralization. The
two styles are separated by a dyke swarm known as the Main Dacitic Dyke (MDD) and a similar set of dykes defines
the hanging wall of the Marimaca style mineralization.
Towards the west, drill holes ATR-15, 17, 18 and 19 defined the border of the Marimaca deposit, intersecting narrow low-grade
copper mineralization related to a northeast system of dioritic dykes. To the east, a concealed post mineral diorite containing
minor primary sulphides was intersected in hole ATR-21 and in holes previously drilled inn the north east section of the
Marimaca 1-23 Claim.
The drilling has also returned some attractive primary sulphide copper grades, notably, ATR-04, 18 metres at 0.95% CuT, ATR
-08, 14 metres at 0.94% CuT and ATR-10, 16 metres at 0.66% CuT. These results confirm the existence of sulphide
mineralization at depth and remaining open.
The section diagram above corresponds to a cross section along the 310° direction, showing copper grades from new RC
holes as well as intersected underground workings. Thickness and grades increase towards the east as they are controlled by
the intersection of NS strike dipping east parallel fractures with north east trending feeders. Limits between mineralized zones
are also shown. In this section the higher grades correspond chiefly to brochantite rich mineralization.
Two drill rigs are currently operating on site. With the drill rigs fully active and assaying now in progress, the Phase II program
is approaching peak activity. A third RC rig and a diamond drilling will add to the overall activity, expected to peak in March
2019. The anticipated enlarged and integrated Marimaca resource estimate remains on track for completion in the third quarter
of 2019. The preparation of access roads, drilling platforms and RC drilling at Tarso and Sorpresa has commenced. The
Marimaca project area and exploration Phases are detailed in the Figure 3 below.
Sampling and Assay Protocol
True widths cannot be determined with the information available at this time. Coro RC holes were sampled on a 2-metre
continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assay preparation
laboratory in Calama and the pulps then sent to the same company laboratory in Santiago for assaying. A second quarter was
stored on site for reference. Samples were prepared using the following standard protocol: drying; crushing to better than 85%
passing -10#; homogenizing; splitting; pulverizing a 500-700g subsample to 95% passing -150#; and a 125g split of this sent
for assaying. All samples were assayed for CuT (total copper), CuS (acid soluble copper), CuCN (cyanide soluble copper) by
AAS and for acid consumption. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was
employed with acceptable results. Pulps and sample rejects are stored by Coro for future reference.
Underground samples were taken as 2 metres continuous chip channel samples in previously carefully cleaned surface walls.
Both adit walls were sampled by Coro personnel. The samples were transported to the Andes Analytical Assays (“AAA”)
preparation laboratory in Calama. Samples were prepared and assayed as for the drill samples. No standards, blanks or
duplicates were employed. After sampling, underground workings were geologically mapped in detail following a protocol
adapted from that used for drill hole logging, with emphasis on mineralization and its structural and litohologic controls.
Figure 4: Atahualpa Intersections
Hole TD (m) From To m %CuT Type
ATR-01 250 26 116 90 0.44
Oxide - Mixed -
Enriched
including 34 60 26 0.62 Oxide
78 94 16 0.49 Mixed
and 124 132 8 0.35
Primary -
Enriched
ATR-02 300 2 68 66 0.59 Oxide
including 2 8 6 1.08 Oxide
52 68 16 1.22 Oxide
and 68 88 20 0.37
Mixed -
Enriched
184 204 20 0.41
Primary -
Enriched
ATR-03 350 6 84 78 0.62 Oxide
including 6 26 20 0.89 Oxide
42 72 30 0.79 Oxide
and 88 114 26 0.32 Oxide
240 246 6 0.74 Oxide
252 262 10 0.30 Oxide
ATR-04 350 2 122 120 1.09
Oxide -
Enriched
including 8 34 26 0.95 Oxide
48 76 28 1.80 Oxide
82 92 10 1.80 Enriched
94 122 28 1.07 Oxide
and 160 178 18 0.95 Primary
and 194 202 8 0.34 Oxide
Atahualpa intersections continued,
ATR-05 450 54 116 62 0.61 Oxide - Mixed
including 54 84 30 0.81 Oxide - Mixed
96 116 20 0.66 Oxide
and 174 248 74 1.06
Mixed -
Enriched
including 198 248 50 1.41
Primary -
Enriched
and 256 274 18 0.33 Primary
336 342 6 0.43
Mixed -
Enriched
ATR-06 400 0 46 46 0.41 Oxide
including 10 32 22 0.57 Oxide
and 146 154 8 0.33 Enriched
198 210 12 1.24
Primary -
Enriched
316 338 22 0.38 Primary
ATR-07 400 0 106 106 0.89 Oxide - Mixed
including 16 46 30 1.52 Oxide - Mixed
and 116 148 32 0.65 Enriched
including 128 140 12 1.20 Enriched
and 190 224 34 0.32
Primary-Mixed-
Enriched
260 312 52 0.26 Primary
including 260 280 20 0.42 Primary
and 384 390 6 0.36 Oxide
ATR-08 350 0 110 110 0.69 Oxide
including 0 60 60 0.79 Oxide
74 110 36 0.74 Oxide
and 198 226 28 0.60 Primary
including 198 212 14 0.94 Primary
ATR-09 400 2 18 16 0.66 Oxide
and 34 42 8 0.76 Oxide
50 106 56 1.03
Oxide-Mixed-
Enriched
including 66 106 40 1.27 Mixed - Enriched
and 122 134 12 0.30 Enriched
ATR-10 350 0 76 76 0.47 Oxide
including 2 12 10 1.26 Oxide
40 46 6 1.62 Oxide
60 72 12 0.61 Oxide
and 76 102 26 1.91
Oxide -
Enriched
including 76 84 8 4.14 Oxide
84 96 12 1.30 Enriched
and 118 134 16 0.66 Primary
134 150 16 0.21 Oxide - Mixed
Atahualpa intersections continued,
ATR-10 172 178 6 0.41 Oxide
cont., 224 230 6 1.42 Mixed
242 262 20 0.47 Oxide
ATR-11 300 0 64 64 0.40 Oxide
including 10 16 6 1.12 Oxide
20 44 24 0.43 Oxide
and 118 138 20 0.40
Mixed -
Enriched
including 128 134 6 1.06 Enriched
and 228 252 24 0.33 Oxide
ATR-12 350 6 58 52 0.34 Oxide
and 76 84 8 0.38 Primary
86 98 12 0.32 Oxide
130 144 14 0.30 Primary
326 332 6 0.52 Primary
ATR-13 250 2 32 30 0.42 Oxide
ATR-14 300 6 18 12 0.30 Oxide
and 52 64 12 0.30 Oxide
90 102 12 0.30 Oxide
118 128 10 0.30 Oxide
246 258 12 0.49 Primary - Mixed
ATR-15 200 No Significant Results
ATR-16 250 12 40 28 0.43 Oxide
ATR-17 270 258 266 8 0.28 Oxide
ATR-18 230 86 92 6 0.33 Oxide
and 132 138 6 0.31 Oxide
ATR-19 200 68 84 16 0.29 Oxide
ATR-21 450 326 332 6 0.59 Primary
ATR-22 350 110 134 24 0.55 Oxide - Mixed
including 112 130 18 0.65 Oxide - Mixed
and 170 178 8 0.50
Enriched -
Mixed
306 318 12 1.53 Primary
Figure 5: Atahualpa Drill Collars
Hole Easting Northing Elevation Azimuth Inclination Depth
ATR-01 374924.4 7435815.6 1038.9 310 -60 250
ATR-02 374960.7 7435793.1 1037.6 220 -60 300
ATR-03 374986.0 7435714.7 1053.8 310 -60 350
ATR-04 374988.3 7435713.5 1053.9 220 -60 350
ATR-05 375106.1 7435757.8 1068.0 310 -60 450
ATR-06 375115.1 7435744.5 1068.5 220 -60 400
ATR-07 375014.0 7435803.4 1048.1 310 -60 400
ATR-08 375014.9 7435797.4 1048.1 220 -60 350
ATR-09 374960.4 7435878.4 1027.6 310 -60 400
ATR-10 374962.1 7435874.2 1027.7 220 -60 350
ATR-11 374876.9 7435940.0 994.9 310 -60 300
ATR-12 374880.2 7435930.2 995.3 220 -60 350
ATR-13 374791.5 7436009.4 973.6 310 -60 250
ATR-14 374792.6 7436006.8 973.7 220 -60 300
ATR-15 374729.3 7436046.4 966.8 310 -60 200
ATR-16 374730.9 7436040.9 966.8 220 -60 250
ATR-17 374634.0 7436086.1 959.2 310 -60 270
ATR-18 374635.3 7436084.7 959.2 220 -60 230
ATR-19 374574.1 7436174.5 932.6 310 -60 200
ATR-21 375209.5 7435815.9 1083.0 310 -60 450
ATR-22 375210.6 7435809.4 1082.9 220 -60 350
Qualified Persons
The technical information in this news release, including the information that relates to geology, drilling and mineralization of
the Marimaca Phase I and II exploration program was prepared under the supervision of, or has been reviewed by Sergio
Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 36 years of experience and a member of
the Colegio de Geologos de Chile and of the Institute of Mining Engineers of Chile, and who is the Qualified Person for the
purposes of NI 43-101 responsible for the design and execution of the drilling program.
Contact Information
For further information please visit www.coromining.com or contact:
Nicholas Bias, VP Corporate Development & Investor Relations
Office: +56 2 2431 7601
Cell: +44 (0)7771 450 679
Email: [email protected]
Forward Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. These
statements relate to future events or the Company’s future performance, business prospects or opportunities. Forward-looking
statements include, but are not limited to, statements regarding the future development and exploration potential of the
Marimaca Project. Actual future results may differ materially. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-
looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a
number of assumptions and estimates that, while considered reasonable by Coro, are inherently subject to significant
business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and
unknown, could cause actual results, performance or achievements to be materially different from the results, performance or
achievements that are or may be expressed or implied by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the inherent
risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling
results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated
excessive operating costs and expenses, uncertainties related to the necessity of financing, the availability of and costs of
financing needed in the future 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. Accordingly, readers should not place undue reliance on
forward-looking statements. Coro undertakes no obligation to update publicly or otherwise revise any forward-looking
statements contained herein whether as a result of new information or future events or otherwise, except as may be required
by law.
Photos accompanying this announcement are available at :
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