Atahualpa Results Increase Marimaca Mineralized Zone Area 

 

VANCOUVER, BC - Coro Mining Corp. reported an update for the Company’s Marimaca Project in the Antofagasta Region of Chile. A further batch of 19 RC holes for 5,650 meters has been completed at Atahualpa, bringing the total to 40 holes for 12,400 meters. The new drill results confirm the northward extension of copper oxide mineralization from that previously defined at Marimaca 1-23 and La Atomica, and importantly, indicating an above 1% CuT core zone located in the previously undrilled southern limit of Atahualpa extending partially to La Atomica and Marimaca 1-23.

Luis Tondo, CEO, said, “The second batch of drill results at Atahualpa are our best yet from the Marimaca Phase II exploration program, exceeding our own expectations on many fronts. First, the results include the longest intersection published yet for Phase II, with 150 meters at 1.18% copper. Second, we can report our highest-grade Phase II intersection too, with 20 meters at 3.7% copper. And finally, most satisfying of all, we can report an estimated 44% increase in the area of the mineralized zone to an enlarged 1,200 meters northwest to southeast strike length and 600 metres northeast southwest width, and it still remains open to the north and south. The average depth of the oxidation zone is also believed to have increased from 100 to 130 metres.”

The Phase II drilling completed thus far at La Atomica and Atahualpha in addition to the Phase I drilling that established the initial resource for the Marimaca 1-23 claim.

The majority of the second batch drill holes are located along northwest-southeast sections, 100 meters apart from the already released first batch drill holes, bearing 310° and 220° (drilled prior to the decision to change orientation to 270°). The copper intercepts show attractive thickness of mineralization related to feeders mapped at surface and underground workings and confirm the extension of the mineralization towards the northern portion of Atahualpa claim.

Holes ATR-39 and ATR-40 are located in the southern part and confirm the existence of a plus 1% CuT brochantite rich mineralized core, extending approximately 300 by 300 metres. This zone had been interpreted from the Marimaca 1-23 grid but was not adequately tested by drilling because access to the area was only gained following the acquisition of the property in late 2018. This zone is an important addition for the whole copper oxide blanket extending beyond limits of Marimaca 1-23 and into La Atomica and Atahualpa.

Two diamond drilling rigs will enter service during March 2019. The anticipated enlarged and integrated Marimaca resource estimate remains on track for completion in the third quarter of 2019. The preparation of access roads, drilling platforms and RC drilling at Tarso and Sorpresa are still in progress. 

True widths cannot be determined with the information available at this time. Coro RC holes were sampled on a 2-meter 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 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.