Coro Provides Update on Its Berta Project, Chile
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/05/12 -- Coro Mining Corp. (TSX: COP) ("Coro" or the "Company") is pleased to announce that it has completed preliminary metallurgical column test work at its Berta project, located 19km W of the village of Inca de Oro in the III Region of Chile. In addition, a NI-43-101 compliant independent resource estimate is expected to be completed shortly.
A total of 3 representative samples were collected; a high grade sample from a diamond drill hole; and a medium and a low grade sample from surface trenches. The trench samples had atypically low soluble copper ("CuS") grades due to surface weathering. The samples were sent to Geomet S.A. metallurgical laboratories in Santiago, Chile for compositing and test work, and subsamples taken for mineralogical categorization were sent to Mineralogia Aplicada a Metalurgia (M.A.M. Ltda.), also of Santiago. Four 2m columns were completed for each sample; one at P80 -3/4" and a second at P80 -3/8", with a duplicate for each crush size.
Summary leach results for the 3/8" columns are shown on Table 1, and leach kinetics and net acid consumption ("NAC") on Figures 1 & 2 (to view Figures 1 & 2 click on: http://media3.marketwire.com/docs/cop115i.pdf).
Table 1: Summary leach results
----------------------------------------------------------------------------
Head assays Theoretical Actual NAC
----------- ----------- --------- ----
% % % Rec Rec
Column Sample location CuT CuS Sol CuT CuS Days kg/t
----------------------------------------------------------------------------
P80 3/8" BDH07-07 Drill core 0.84 0.59 70% 91% 130% 26 21
Comp A
----------------------------------------------------------------------------
P80 3/8" Surface trench 0.66 0.36 54% 68% 126% 28 24
Comp B (partially leached)
----------------------------------------------------------------------------
P80 3/8" " 0.38 0.14 37% 56% 150% 28 22
Comp C
----------------------------------------------------------------------------
This test work demonstrates that Berta oxide material may have rapid heap leach recoveries in excess of theoretical percent solubility due to the presence of significant copper wad which is soluble in the reducing, ferrous sulphate rich conditions of the column, but which did not report to the %CuS head assay.
Alan Stephens, President and CEO of Coro, commented, "We are pleased the test work indicates that 100% recovery of CuS, even of low grade material, may be achievable with approx. 15 kg/t NAC after 15 days. Actual heap leach recoveries and residence times would be partly a function of relative copper and acid prices. We are very encouraged by the results of this test work, and look forward to receiving the resource estimate shortly."
Sergio Rivera, Coro's Vice President of Exploration, a geologist with more than 30 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the sampling program at Berta and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, Coro's President and CEO, a geologist with more than 36 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.
CORO MINING CORP.
Alan Stephens, President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production. Coro's properties include the advanced San Jorge copper-gold project, in Argentina, and the Berta, El Desesperado, Payen, El Inca, Chacay, Llancahue, and Celeste copper properties located in Chile.
For further information please visit the Company's website at www.coromining.com.
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to metallurgical recoveries involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, 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.
Contacts:
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682 5546
investor.info@coromining.com
www.coromining.com
