Coro Reports Positive Results from Step Out Drilling at Marimaca Copper Project, Chile
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News Release
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Coro Reports Positive Results from Step Out Drilling at Marimaca Copper Project,
Chile
- Drilling highlights include 180m @ 0.58%CuT and 72m @ 1.34%CuT
January 22, 2018 - Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce
the results of reverse circulation (RC) step out drilling completed at its Marimaca copper project, located 22km
E of the port of Mejillones in the II Region of Chile, (Figs. 1 & 2). Results have been received for all 12 RC holes
drilled on the La Atomica claim, which adjoins Marimaca to the NW, and for 7 RC scout holes drilled to the NE
of the existing resource on the Marimaca claim. Results have also been received for 5 out of 6 geotechnical
diamond (DD) holes drilled on the margins of the initial resource. Since discovery in 2016, Coro has drilled a
total of 133 RC and 16 DD holes on property for 32,289m.
The drilling at La Atomica intersected leachable copper mineralization in ten out of twelve holes, with the
remaining two holes confirming the location of the SW faulted boundary of the deposit. The mineralized holes
contained multiple intersections of oxides similar in grade and thickness to Marimaca, highlighted by 140m @
0.46%CuT from surface, with some mixed and remnant enriched mineralization at depth, highlighted by 72m
@ 1.34%CuT. Topographic constraints resulted in two of the holes being drilled in a sub-optimal orientation
with respect to the known structure. This step out drilling has confirmed the potential for additional resources
in an area of approximately 300 x 300m at La Atomica and it remains open over a further similar area to the
NW, where inspection of underground workings has confirmed the presence of mineralization.
Thick mineralization averaging 180m @ 0.58%CuT was intersected from surface in one of the scout holes
drilled some 300m NE of the Marimaca resource, indicating that the deposit continues in this direction. A
second hole intersected 42m @ 1.82%CuT at depth as mixed and primary mineralization in the area
immediately NE of the resource. Of the remaining five holes, three hit partially leached mineralization, possibly
associated with faulting, while the other two appear to have defined the southern boundary of the leachable
deposit in this part of the claim.
All of the reported geotechnical holes intersected leachable mineralization, highlighted by 84m @ 1.16%CuT
and 96m @ 0.61%CuT, with 12m @ 3.05% in primary mineralization intercepted at depth on the NE side of the
deposit.
“We are very encouraged by these results and those from the recently completed infill drill program. The
Marimaca deposit continues to grow significantly and still remains completely open to the north and south,”
commented Coro President and CEO, Luis Tondo.
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Marimaca Drilling Results
Results are shown on Table 1a, 1b and 1c, where %CuT means total copper. Drill hole locations are shown on
Fig 3. Drill collar coordinates are shown on Table 2.
Table 1a: La Atomica Intersections
Hole TD From To m %CuT Type
LAR-01 260m
4 44 40 0.45 Oxide
and
60 84 24 0.36 Oxide
102 224 122 0.44 Oxide
256 260 4 1.89 Mixed
LAR-02 250m
22 44 22 0.43 Oxide
and 80 116 36 0.30 Oxide
210 224 14 0.56 Oxide
LAR-03 250m
2 34 32 0.27 Oxide
and
52 68 16 0.57 Oxide
78 148 70 0.33 Oxide
168 214 46 0.81 Oxide
LAR-04 250m 0 146 146 0.46 Oxide
LAR-05 250m
8 20 12 0.26 Oxide
and 54 82 28 0.49 Oxide
112 184 92 0.49 Oxide
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Hole TD From To m %CuT Type
LAR-06 300m
48 80 32 0.40 Oxide
and
112 150 38 0.48 Oxide
150 176 26 0.76 Mixed
206 216 10 0.31 Oxide
228 300 72 1.34 All
including
228 246 18 0.63 Oxide
246 252 6 5.79 Enriched
252 258 6 0.83 Oxide
258 270 12 1.82 Enriched
270 300 30 0.78 Mixed
LAR-07 250m 110 140 30 0.53 Oxide
LAR-08 160m No Significant Results
LAR-09 150m No Significant Results
LAR-10 150m 30 62 32 0.42 Oxide
LAR-11 250m
0 54 54 0.32 Oxide
and
72 126 54 0.37 Oxide
148 172 24 0.26 Oxide
172 186 14 1.18 Mixed
LAR-12 250m 88 122 34 0.23 Oxide
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Table 1b: Marimaca NE Intersections
Hole TD From To m %CuT Type
MAR-112 250m No Significant Results
MAR-113 250m
166 208 42 1.82 All
and 166 194 28 1.58 Mixed
194 208 14 2.29 Primary
MAR-114 300m
0 180 180 0.58 All
including
0 90 90 0.34 Oxide
90 132 42 1.04 Mixed
138 152 14 0.80 Primary
152 166 14 0.45 Mixed
166 180 14 0.81 Primary
MAR-115 300m 102 124 22 0.49 Primary
MAR-116 300m
54 70 16 0.62 Oxide
and 136 148 12 0.27 Mixed
168 178 10 1.15 Primary
MAR-117 250m No Significant Results
MAR-120 250m 112 130 18 0.57 Oxide
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Table 1c: Marimaca Geotechnical DDH Intersections
Hole TD From To m %CuT Type
MAD-11 200m
28 42 14 0.68 Oxide
and
68 98 30 0.34 Oxide
110 124 14 0.86 Oxide
136 150 14 1.05 Oxide
170 184 14 0.35 Mixed
MAD-12 200m
90 174 84 1.16 All
90 116 26 1.87 Oxide
116 132 16 1.17 Mixed
132 164 32 0.61 Oxide
164 174 10 1.01 Mixed
MAD-13 180m 32 46 14 0.37 Oxide
MAD-14 200m Results Awaited
MAD-15 200m 50 146 96 0.61 Oxide
MAD-16 250m
182 194 12 3.05 Primary
and 194 206 12 0.32 Mixed
220 232 12 2.72 Mixed
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’s 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.
Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 33 years of
experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de
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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, Executive Director of Coro Mining Corp, a geologist with
more than 42 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the
contents of this news release.
Fig 1: Location of Marimaca
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Fig 2: Marimaca Claim Map
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Fig 2: Marimaca Drill Plan