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Coro Mining Corp.
Summary
| Project: | Marimaca | |
|---|---|---|
| Deposit: | Marimaca | |
| Location: | Chile | |
| Commodities: | Copper | |
| Date: | 10/18/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 18-10-2016: Coro Mining Corp. announces an Exploration/Drilling Update report for its Marimaca deposit at the Marimaca project. Drilling results incl. 192m @ 0.83% CuT from 2m. October 18 2016, Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Alan Stephens (Internal) | |
| ABSTRACT: | October 18 2016, Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce the results of the final 23 reverse circulation (RC) holes from the 39 hole, 8530m hole drill program completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile, (Fig. 1). Previous drill results from Marimaca were released on April 28, May 6, September 6 and October 4 2016. Alan Stephens, President and CEO of Coro commented, “As with the prior results, these final holes intersected attractive mineralization and confirm the extent and continuity of the deposit as we step out from the original drilled area. Only 2 holes out of the entire resource definition drill program did not intersect mineralization and they define the SW margin of the body, which remains open in other directions. Its geometry is confirmed as a 150-250m thick, gently ESE dipping, slab of strongly fractured Jurassic diorite formed at the intersection of the major N striking Marimaca structure and NE striking mineralizing feeder zones. Hypabyssal diorite intrusives are associated with the introduction of chalcopyrite (mainly as veinlets), which was subsequently largely supergene enriched to chalcocite and covellite. The resulting secondary enrichment blanket has been almost completely oxidised to green copper oxides (mostly brochantite and chrysocolla), with lower grade copper wad and black oxides deposited at the peripheries of the deposit during oxidation. The deposit is cross cut by unmineralized late and post mineral dykes and sills. Metallurgical column test work is underway and the initial resource estimate is scheduled for completion in November. Due diligence for the acquisition of Minera Rayrock, owner of the ~10ktpy Cu Ivan SXEW plant located ~20km S of Marimaca, (see our August 4 2016 news release) , is almost complete. Various development scenarios for the project are being evaluated.” | |
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