Marimaca Exploration Update: La Atómica Drill Results Confirm Copper Oxide Mineralisation Beyond Marimaca 1-23
Marimaca Exploration Update: La Atómica Drill Results Confirm Copper Oxide
Mineralisation Beyond Marimaca 1-23
VANCOUVER, British Columbia, Nov. 13, 2018 -- Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) is pleased
to provide an update for Company’s Marimaca project in the Antofagasta region of Chile. The first 28 of a planned 52 drill holes
at La Atómica, the ground adjacent to the Marimaca 1-23 claim where a resource has already been established, have
confirmed the presence of copper oxide mineralization, in addition to the presence of secondary enriched copper sulphide
mineralization at depth.
Highlights
• Completed 28 of planned 52 holes, for 6,540 metres covering a 100 x 100 metre spaced grid. across the property.
• Results include:
• LAR 24
From surface, 202 metres continuous oxide mineralization averaging 0.74% CuT,
including 16 metres, from 98 to 114 metres, averaging 2.72% CuT,
and 12 metres, from 138 to 150 metres, at 2.24% CuT
• LAR-33
From 32 to 260 metres, 228 metres of continuous oxide mineralization averaging 0.47%CuT,
including 26 metres, from 60 to 86 metres, averaging 0.99% CuT.
and 20 metres, from 270 to 290 metres, high-grade secondary copper sulphide mineralization averaging 2.10%
CuT
• Oxide copper mineralization at La Atómica proven to exist 300 metres beyond limits of the previous drill grid completed
at Marimaca 1-23.
• Current knowledge is that the total horizontal extension of the outcropping copper oxide mineralization from Marimaca
to La Atómica now reaches 800 metres in the north-west direction, with the opportunity for further extension.
Commenting on the news, Luis Tondo, CEO of Coro said: “ Chile is the world’s primary source of mineable copper, however,
new near surface discoveries are becoming harder to find and new projects harder to bring on stream. Since we discovered
Marimaca in 2016, the project continues to prove itself, and I believe has the potential to be one of the best new open-pittable
copper oxide deposits discovered in Chile in recent times. Our Phase I program already established a resource at Marimaca
and I am delighted to see that the current Phase II program confirms the potential of mineralization extension on the adjacent
La Atómica ground.”
Further Information
Copper oxide mineralization at La Atómica is hosted by the same intrusive rocks as identified at the Marimaca 1-23 claims.
Parallel fracturing is minor as compared with Marimaca, and mineralization is controlled by a north-west system of faults and
by a north to north-east oriented dike-swarm of dioritic composition.
Part of the mineralization appears to be the result of copper laterally transported from sources located close to Marimaca
towards the west, along north-west fractures, and trapped by north to north-east fractures and dikes. As a result, the
outcropping copper oxide blanket at La Atómica extends for widths of up to 300 metres reaching depths of up to 200 metres,
showing less mineralization intensity towards the north-west, yet remains open to the south-west portion of the property.
Figure 1 below illustrates the location of the completed drill holes at Atahualpa and La Atómica and the Phase I drilling which
established the resource and the new Phase II drilling extending to the north-west where copper oxide mineralization has been
established.
Figure 1: http://www.globenewswire.com/NewsRoom/AttachmentNg/0082865d-ec55-4bca-80fd-0c3c60a5d863
The photographs in figures 2 and 3 below show the southern outlook and RC drilling at La Atómica from which can be seen
access roads and some drilling, and importantly, parallel and north west fracturing which is believed to control the copper
oxide mineralization.
Figure 2: http://www.globenewswire.com/NewsRoom/AttachmentNg/673395ca-2705-4eaa-98bb-0d58830d35a9
Figure 3: http://www.globenewswire.com/NewsRoom/AttachmentNg/062cfd7d-eefc-41b8-b7b1-814585d94c12
Also commenting on the news, Sergio Rivera, VP Exploration said: “The drill results at La Atómica are the first from the new
program and already demonstrate the presence from surface of oxide mineralization and indeed the presence at depth of
some secondary sulphide mineralization. We will now continue with the remaining drill holes at La Atómica before moving all
drill rigs to Atahualpa where I am hopeful that we will see similar or even potentially better positive results.”
Phase II Program Upcoming Milestones
It is planned that the remaining holes to be drilled at La Atómica will be completed with results announced by the end of the
fourth quarter 2018.
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.
La Atómica Intersections
Hole Total Depth (m) From (m) To (m) Interval (m) %CuT Type
LAR-15 250
48 104 56 0.45 Oxide
including
48 70 22 0.46 Oxide
82 104 22 0.61 Oxide
and 120 152 32 0.35 Oxide
LAR-16 250
50 150 100 0.27 Oxide
including 112 150 38 0.35 Oxide
note 126 134 8 Underground working
LAR-17 180
0 92 92 0.39 Oxide
including
42 58 16 0.75 Oxide
72 92 20 0.75 Oxide
LAR-18 230
0 86 86 0.46 Oxide
including 40 86 46 0.59 Oxide
note
36 40 4 Underground working
48 52 4 Underground working
LAR-19 180
0 74 74 0.33 Oxide
including
12 44 32 0.50 Oxide
50 74 24 0.26 Oxide
LAR-20 200
6 80 74 0.31 Oxide
including
12 38 26 0.52 Oxide
46 62 16 0.24 Oxide
note 38 46 8 Underground working
LAR-21 150 No significant results
LAR-22 150 No significant results
LAR-23 400
62 124 62 0.37 Oxide
including
0 14 14 0.40 Oxide
70 106 36 0.45 Oxide
and
146 174 28 0.21 Oxide
218 308 90 0.48 Enriched-primary
including
252 258 6 1.65 Enriched
256 272 16 0.40 Primary
272 280 8 1.10 Enriched
288 298 10 0.52 Enriched
304 308 4 1.30 Enriched
and
308 330 22 0.52 Oxide
332 356 24 0.35 Enriched
364 398 34 0.51 Enriched
including
364 372 8 0.51 Enriched
378 398 20 0.65 Enriched
LAR-24 250
0 202 202 0.74 Oxide
including
88 94 6 1.21 Oxide
98 114 16 2.72 Oxide
118 134 16 1.00 Oxide
138 150 12 2.24 Oxide
162 174 12 1.52 Oxide
and 238 248 10 0.61 Enriched
LAR-25 250
12 158 146 0.33 Oxide
including 114 122 8 1.96 Oxide
and 220 242 22 1.43 Oxide
LAR-26 250
72 88 16 0.34 Oxide
and
100 146 46 0.31 Oxide
182 188 6 0.55 Oxide
LAR-27 180
84 90 6 0.30 Oxide
and 116 134 18 0.30 Oxide
LAR-28 200 No significant results
LAR-29 200
74 86 12 0.57 Oxide
and
102 118 16 0.23 Oxide
118 132 14 0.68 Enriched
168 176 8 0.30 Oxide
LAR-30 150 56 62 6 0.56 Oxide
LAR-31 150
66 78 12 0.31 Oxide
and 122 138 16 0.27 Oxide
LAR-32 350
96 122 26 0.45 Oxide
including
26 36 10 0.75 Oxide
60 86 26 0.99 Oxide
104 118 14 0.70 Oxide
132 168 36 0.21 Oxide
including 152 160 8 `0.39 Oxide
190 238 48 0.20 Oxide
including
200 208 8 0.41 Oxide
218 224 6 0.57 Oxide
and
262 294 32 0.36 Oxide
300 308 8 0.91 Oxide
308 314 6 0.46 Mixed
LAR-33 350
32 260 228 0.47 Oxide
including
132 144 12 0.49 Oxide
172 182 10 0.91 Oxide
190 210 20 1.83 Oxide
134 150 16 1.20 Oxide
and
260 270 10 1.40 Mixed
270 290 20 2.10 Enriched
322 328 6 0.40 Enriched
336 348 12 0.26 Primary
LAR-34 350
26 182 156 0.21 Oxide
including
50 84 34 0.28 Oxide
92 182 90 0.22 Oxide
and
200 226 26 0.32 Oxide
230 240 10 0.58 Oxide
LAR-35 210
2 44 42 0.26 Oxide
and 56 86 30 0.42 Oxide
LAR-36 200
12 182 170 0.34 Oxide
including
12 44 32 0.26 Oxide
56 96 40 0.45 Oxide
96 108 12 0.81 Oxide
108 122 14 0.25 Oxide
132 182 50 0.26 Oxide
LAR-37 150 No significant results
LAR-38 150
20 32 12 0.26 Oxide
and 62 82 20 0.25 Oxide
2 16 14 0.27 Oxide
and
40 50 10 0.45 Oxide
56 64 8 0.47 Oxide
82 126 44 0.35 Oxide
82 96 14 0.62 Oxide
LAR-39 150 including 100 126 26 0.24 Oxide
LAR-40 300
0 16 16 0.29 Oxide
and
134 142 8 0.44 Oxide
180 192 12 0.21 Oxide
226 252 26 0.25 Oxide
272 276 4 0.38 Mixed
LAR-41 350
2 14 12 0.31 Oxide
and 80 186 106 0.23 Oxide
including 116 132 16 0.58 Oxide
LAR-42 270
28 42 14 0.26 Oxide
and
154 166 12 0.25 Oxide
222 228 6 0.53 Mixed
La Atómica Drill Collars
Hole Easting Northing Elevation Azimuth Inclination Depth
LAR-15 374839.0 7435824.7 1068.0 220 -60 250
LAR-16 374834.5 7435830.8 1067.4 310 -60 250
LAR-17 374771.5 7435958.5 999.5 220 -60 180
LAR-18 374762.1 7435962.1 998.9 310 -60 230
LAR-19 374715.2 7435959.6 996.8 220 -60 180
LAR-20 374712.4 7435965.7 996.3 310 -60 200
LAR-21 374651.9 7436032.9 962.3 220 -60 150
LAR-22 374648.9 7436032.3 962.2 310 -60 150
LAR-23 374864.6 7435723.9 1104.1 220 -60 400
LAR-24 374861.7 7435731.4 1103.8 310 -60 250
LAR-25 374765.2 7435781.1 1076.2 220 -60 250
LAR-26 374764.0 7435786.9 1076.2 310 -60 250
LAR-27 374633.0 7435872.6 1011.0 220 -60 180
LAR-28 374626.4 7435879.2 1010.7 310 -60 200
LAR-29 374580.7 7435928.6 976.8 220 -60 200
LAR-30 374580.9 7435933.8 976.7 310 -60 150
LAR-31 374577.6 7435929.9 976.9 265 -60 150
LAR-32 374782.6 7435647.0 1118.9 220 -60 350
LAR-33 374778.9 7435650.8 1118.8 310 -60 350
LAR-34 374781.0 7435650.1 1119.0 265 -60 350
LAR-35 374583.3 7435799.1 1019.2 220 -60 210
LAR-36 374581.7 7435804.1 1019.0 310 -60 200
LAR-37 374498.8 7435864.1 974.6 220 -60 150
LAR-38 374496.3 7435867.7 974.4 310 -60 150
LAR-39 374577.9 7435877.9 1010.1 265 -60 150
LAR-40 374759.7 7435535.1 1100.3 265 -60 300
LAR-41 374755.7 7435539.9 1099.9 310 -60 350
LAR-42 374702.0 7435589.7 1090.0 220 -60 270
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.