News 2018

Coro Reports Positive Results from Step Out Drilling at Marimaca Copper Project, Chile

Jan 22, 2018 Download PDF

- Drilling highlights include 180m @ 0.58%CuT and 72m @ 1.34%CuT

January 22, 2018 - Coro Mining Corp. (“Coro” or the “Company”) (TSX Symbol: COP) is pleased to announce the results of reverse circulation (RC) step out drilling completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile, (Figs. 1 & 2). Results have been received for all 12 RC holes drilled on the La Atomica claim, which adjoins Marimaca to the NW, and for 7 RC scout holes drilled to the NE of the existing resource on the Marimaca claim. Results have also been received for 5 out of 6 geotechnical diamond (DD) holes drilled on the margins of the initial resource. Since discovery in 2016, Coro has drilled a total of 133 RC and 16 DD holes on property for 32,289m.

The drilling at La Atomica intersected leachable copper mineralization in ten out of twelve holes, with the remaining two holes confirming the location of the SW faulted boundary of the deposit. The mineralized holes contained multiple intersections of oxides similar in grade and thickness to Marimaca, highlighted by 140m @ 0.46%CuT from surface, with some mixed and remnant enriched mineralization at depth, highlighted by 72m @ 1.34%CuT. Topographic constraints resulted in two of the holes being drilled in a sub-optimal orientation with respect to the known structure. This step out drilling has confirmed the potential for additional resources in an area of approximately 300 x 300m at La Atomica and it remains open over a further similar area to the NW, where inspection of underground workings has confirmed the presence of mineralization.

Thick mineralization averaging 180m @ 0.58%CuT was intersected from surface in one of the scout holes drilled some 300m NE of the Marimaca resource, indicating that the deposit continues in this direction. A second hole intersected 42m @ 1.82%CuT at depth as mixed and primary mineralization in the area immediately NE of the resource. Of the remaining five holes, three hit partially leached mineralization, possibly associated with faulting, while the other two appear to have defined the southern boundary of the leachable deposit in this part of the claim.

All of the reported geotechnical holes intersected leachable mineralization, highlighted by 84m @ 1.16%CuT and 96m @ 0.61%CuT, with 12m @ 3.05% in primary mineralization intercepted at depth on the NE side of the deposit.

“We are very encouraged by these results and those from the recently completed infill drill program. The Marimaca deposit continues to grow significantly and still remains completely open to the north and south,” commented Coro President and CEO, Luis Tondo.

Marimaca Drilling Results
Results are shown on Table 1a, 1b and 1c, where %CuT means total copper. Drill hole locations are shown on Fig 3. Drill collar coordinates are shown on Table 2.

Table 1a: La Atomica Intersections

Hole

TD

From

To

m

%CuT

Type

LAR-01

260m

4

44

40

0.45

Oxide

and

60

84

24

0.36

Oxide

102

224

122

0.44

Oxide

256

260

4

1.89

Mixed

LAR-02

250m

22

44

22

0.43

Oxide

and

80

116

36

0.30

Oxide

210

224

14

0.56

Oxide

LAR-03

250m

2

34

32

0.27

Oxide

and

52

68

16

0.57

Oxide

78

148

70

0.33

Oxide

168

214

46

0.81

Oxide

LAR-04

250m

0

146

146

0.46

Oxide

LAR-05

250m

8

20

12

0.26

Oxide

and

54

82

28

0.49

Oxide

112

184

92

0.49

Oxide

LAR-06

300m

48

80

32

0.40

Oxide

and

112

150

38

0.48

Oxide

150

176

26

0.76

Mixed

206

216

10

0.31

Oxide

228

300

72

1.34

All

including

228

246

18

0.63

Oxide

246

252

6

5.79

Enriched

252

258

6

0.83

Oxide

258

270

12

1.82

Enriched

270

300

30

0.78

Mixed

LAR-07

250m

110

140

30

0.53

Oxide

LAR-08

160m

No Significant Results

LAR-09

150m

No Significant Results

LAR-10

150m

30

62

32

0.42

Oxide

LAR-11

250m

0

54

54

0.32

Oxide

and

72

126

54

0.37

Oxide

148

172

24

0.26

Oxide

172

186

14

1.18

Mixed

LAR-12

250m

88

122

34

0.23

Oxide

Table 1b: Marimaca NE Intersections

Hole

TD

From

To

m

%CuT

Type

MAR-112

250m

No Significant Results

MAR-113

250m

166

208

42

1.82

All

and

166

194

28

1.58

Mixed

194

208

14

2.29

Primary

MAR-114

300m

0

180

180

0.58

All

including

0

90

90

0.34

Oxide

90

132

42

1.04

Mixed

138

152

14

0.80

Primary

152

166

14

0.45

Mixed

166

180

14

0.81

Primary

MAR-115

300m

102

124

22

0.49

Primary

MAR-116

300m

54

70

16

0.62

Oxide

and

136

148

12

0.27

Mixed

168

178

10

1.15

Primary

MAR-117

250m

No Significant Results

MAR-120

250m

112

130

18

0.57

Oxide

Table 1c: Marimaca Geotechnical DDH Intersections

Hole

TD

From

To

m

%CuT

Type

MAD-11

200m

28

42

14

0.68

Oxide

and

68

98

30

0.34

Oxide

110

124

14

0.86

Oxide

136

150

14

1.05

Oxide

170

184

14

0.35

Mixed

MAD-12

200m

90

174

84

1.16

All

90

116

26

1.87

Oxide

116

132

16

1.17

Mixed

132

164

32

0.61

Oxide

164

174

10

1.01

Mixed

MAD-13

180m

32

46

14

0.37

Oxide

MAD-14

200m

Results Awaited

MAD-15

200m

50

146

96

0.61

Oxide

MAD-16

250m

182

194

12

3.05

Primary

and

194

206

12

0.32

Mixed

220

232

12

2.72

Mixed

Sampling and Assay Protocol
True widths cannot be determined with the information available at this time. Coro RC holes were sampled on a 2 metre continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assay preparation laboratory in Calama and the pulps then sent to the same company’s laboratory in Santiago for assaying. A second quarter was stored on site for reference. Samples were prepared using the following standard protocol: drying; crushing to better than 85% passing -10#; homogenizing; splitting; pulverizing a 500-700g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for CuT (total copper), CuS (acid soluble copper), CuCN (cyanide soluble copper) by AAS and for acid consumption. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Coro for future reference.

Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 33 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 exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, Executive Director of Coro Mining Corp, a geologist with more than 42 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.

Fig 1: Location of Marimaca

Fig 2: Marimaca Claim Map

Fig 2: Marimaca Drill Plan

Table 2: Drill Collars

Hole

Easting

Northing

Elevation

Azimuth

Inclination

Depth

MAR-112

375281.4

7435950.5

1121.2

310

-60

250

MAR-113

375097.0

7435640.0

1107.0

310

-60

250

MAR-114

375344.9

7435928.8

1120.9

310

-60

300

MAR-115

375378.7

7435877.4

1115.7

220

-60

300

MAR-116

375280.0

7435859.2

1103.1

310

-60

300

MAR-117

375389.8

7435815.0

1122.8

310

-60

250

MAR-120

375157.0

7435662.0

1106.0

310

-60

250

LAR-01

374752.0

7435689.6

1110.7

310

-60

250

LAR-02

374755.1

7435681.9

1111.2

220

-60

250

LAR-03

374684.7

7435736.1

1084.8

310

-60

250

LAR-04

374688.6

7435729.9

1084.6

220

-60

250

LAR-05

374798.4

7435760.2

1102.0

310

-60

250

LAR-06

374805.2

7435754.3

1102.5

220

-60

300

LAR-07

374802.1

7435761.7

1102.4

360

-60

250

LAR-08

374559.0

7435762.7

1016.7

310

-60

150

LAR-09

374562.8

7435756.0

1017.0

220

-60

150

LAR-10

374496.1

7435851.2

974.3

60

-60

150

LAR-11

374686.2

7435733.3

1084.7

270

-60

250

LAR-12

374687.8

7435737.6

1084.8

360

-60

250

MAD-11

374842.5

7435473.3

1077.1

266

-60

200

MAD-12

374904.7

7435652.9

1114.7

324

-60

200

MAD-13

374967.0

7435157.6

1023.8

266

-60

180

MAD-14

375306.3

7435237.7

1093.1

324

-60

200

MAD-15

374824.7

7435609.6

1132.9

220

-60

200

MAD-16

375165.0

7435662.4

1110.2

234

-60

250

About Coro Mining Corp.:
Coro’s strategy is to grow a mining business through the discovery, development and operation 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 and creating profitability are priorities and, 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 owns the Berta mine and Nora plant; and the Llancahue prospect.

For further information:
Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546, Toll free +1 877 702 2676 or nnemeth@coromining.com
Visit our website site at www.coromining.com
Email us at investor.info@coromining.com
Follow us on Twitter @coromining1

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 timing of future results and further programs. 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 completion of assays, drill rig availability and ability to finance. 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.