May 15, 2017, Vancouver, Canada- Coro Mining Corp, (“Coro or the Company”) (TSX:COP) is pleased to provide an update on the development of its 65% owned SCM Berta operations, located in the III Region of Chile. The production capacity of the Nora solvent extraction-electrowinning (“SXEW”) plant has been expanded from 3,000 tonnes per year of copper cathode (6.6 million lbs) to 4,800 tonnes per year (10.6 million lbs). The installation of the crusher, agglomerator and heap leach pads at the Berta mine site has been completed and site ancillary works are nearing completion. Commissioning of the plant is expected to take place shortly and the operation will then commence ramping up to production of 400 tonnes per month of copper cathode (880,000 lbs).
Alan Stephens, President and CEO commented, “We are pleased to have completed the expansion of the Nora plant and look forward to commencing full scale leaching at the Berta site shortly. Achieving commercial production at SCM Berta will be a major milestone in the evolution of Coro and we look forward to building on this success with our Marimaca project.”
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 estiamtes. 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.