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Coro Mining Corp.
Summary
| Project: | Marimaca | |
|---|---|---|
| Deposit: | Marimaca | |
| Location: | Chile | |
| Commodities: | Copper | |
| Date: | 12/2/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-12-2019: Coro Mining Corp. announces a Resource Estimation report for its Marimaca deposit at the Marimaca project. Updated mineral resource estimate at project. The Mineral Resource Estimate was based on 346 reverse circulation holes (“RC”) and 39 diam | |
| Resources: | (Resource, M+I): 70.387Mt @ 0.60% CuT% | |
| CP/QP: | [Resources]: Luis Oviedo Hannig (NCL Ingenieria y Construccion S.A.) | |
| ABSTRACT: | The Mineral Resource Estimate was based on 346 reverse circulation holes (“RC”) and 39 diamond holes (“DD”) for a total of 91,210m drilled between 2016 and 2019. The Mineral Resource Estimate was completed at a range of Cut-Off grades by independent consultants NCL Ingeniería y Construcción SpA, and is reported in accordance with the requirements of NI43-101. Summarized results are presented in Table 1 and detailed results in Tables 2 and 3. The Mineral Resource Estimate has an effective date of Tuesday 26 November 2019. To demonstrate reasonable prospects for eventual economic extraction (RPEEE), a series of Lerchs-Grossmann pit shell optimizations was completed by NCL, utilizing appropriate operating costs, recoveries obtained from metallurgical test work, and a long term US$3.00/lb copper price. The resources were estimated only for oxide, mixed, wad and enriched copper mineralization which can be processed by heap leaching (HL) and run of mine (ROM) dump leaching to produce copper cathode. Primary sulphide mineralization occurring in deeper parts of the deposit, which are within the constraining pit shell is not included in the resource estimate shown in the tables below. With the economic parameters stated above, the Cut-Off grade of the Mineral Resource Estimate is approximately 0.22% CuT and a strip ratio of 1.11:1 has been estimated by NCL. | |
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