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Coronado Receives 2nd Gold Payment Plans Surface Geophysical Survey
Coronado Receives 2nd Gold Payment Plans Surface Geophysical Survey
About this update from Lqwd Technologies Corp
[{"type":"text","content":"Coronado Receives 2nd Gold Payment Plans Surface Geophysical Survey\n\n\n\nCoronado Receives 2nd Gold Payment Plans Surface Geophysical Survey\n\nVancouver, British Columbia CANADA, April 03, 2008 /FSC/ - Coronado Resources Ltd. (CRD - TSX Venture, CRDAF - OTCBB_Pink_Sheets), has received a payment of $72, 500.00 US for its second shipment to the processing plant. A third shipment of 555 dry tons averaging .384 ozs of gold per ton is presently on site awaiting processing. The April 5th closing gold price will be used to calculate payment. The decline has been advanced to the area near the hi-grade copper zone intersected in diamond drill hole CO5-6 previously reported to contain a 27 feet averaging 41.0% copper. Crosscut #2 is presently 30 feet below this zone and is continuing on towards hole No. CO5-6 which intersected 5.2 feet of gold mineralization assaying .285 ozs of gold also previously reported. Crosscut #1 toward the gold zone intersected in hole CO5-2 containing 49.9 feet of .366 ozs of gold per ton, has been re-routed due to unstable rock conditions. \n\nA letter of intent for purchase of direct crushed copper mineralization and/or concentrates averaging in excess of 20% copper has been received. Management is presently evaluating all aspects of the offer and will respond shortly. \n\nA ground geophysical electro magnetic and induced polarization survey is expected to begin around mid April. The object is to further define the present known mineralized zones and locate any unknown zones. \nAll funds received will be used towards further development and mining.\n \nUnless noted, assay work was completed by Norris Labs, a local Montana lab using the dry assay method. Norris Labs is not registered by the International Standards Organization; they are used due to proximity and quick turn around results. Assaying of all previously reported results as noted in this release was performed by ALS Chemex Labs of North Vancouver. \n\nEugene Larabie, P. Eng. is the \"qualified person\" overseeing the project. For more information and photos please visit the company's website at coronadoresourcesltd on the web. \n\nOn Behalf of the Board \nEugene Larabie, \nPresident \n\nThe TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. The foregoing information may cont...