June 19, 2017, Vancouver, Canada- Coro Mining Corp, (“Coro or the Company”) (TSX:COP) is pleased to provide an update on the progress of its 65% owned SCM Berta operations, located in the III Region of Chile. The Berta operation has begun trucking concentrated pregnant leach solution (PLS) from the leach pads at the Berta mine to the Nora Solvent Extraction Electrowinning (SXEW) plant. In preparation for handling this solution, the Nora SXEW plant was recently expanded to 4,800 tonnes (10.6 million lbs) per year of copper cathode.
“Coro is excited to have reached an important milestone in the Company’s development with the commissioning of our first mining operation at Berta and we look forward to ramping up to full scale production of approximately 400 tonnes per month”, commented CEO Luis Tondo, “We will now examine options to further optimize and increase this production rate”.
About Coro Mining Corp.:
Coro’s strategy is to grow a mining business through the discovery, development and operation of “Coro type” deposits. These are defined as projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment takes priority over maximizing NPV, where profitability is prioritized over production rate, and finally, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which includes the Berta and Nora operations; the Planta Prat project; the Llancahue prospect; and a royalty on the San Jorge copper-gold project located in Argentina.
For further information:
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This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to production estimates. Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coro’s ability to predict or control and may cause Coro’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the operation of the Nora Plant, copper price volatility, and changes in debt and equity markets. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, 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.
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.