Business
Coro Announces Development Plan for Marimaca with the Initiation of a Definitive Feasibility Study
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2017) - Coro Mining Corp, (TSX: CO...
About this update from Marimaca Copper Corp.
[{"type":"text","content":"Coro Announces Development Plan for Marimaca with the Initiation of a Definitive Feasibility StudyTaking significant steps to fast-track Marimaca toward early copper productionVancouver, British Columbia--(Newsfile Corp. - August 22, 2017) - Coro Mining Corp, (TSX: COP) (\"Coro or the Company\") is pleased to announce the initiation of a Definitive Feasibility Study (\"DFS\") for its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile. The DFS will be undertaken and led by ProPipe S.A., a Chilean engineering company which recently and successfully implemented the Berta project under an EPCM contract for Coro. The mine plan will be undertaken by NCL Ingenieria y Construccion S.A. (\"NCL\"), INGEROCK will conduct the geotechnical work, and environmental and permitting work will be undertaken by Bordoli Consultores Asociados. The Company will conduct additional metallurgical test work as required. Coro anticipates that the DFS will be completed during Q1 2018.The Company's strategic plan defines the staged development of Marimaca, following Coro`s philosophy of achieving a short and cost effective timeline to production with capital costs which are financeable relative to the Company`s market capitalization at any given time. Phase 1 will be the completion of the DFS for production of 10,000 tonnes (22,046,030 lbs) of copper cathode per year via the Ivan Solvent Extraction & Electrowinning (\"SXEW\") plant. The study will evaluate the alternatives of trucking ore in the initial years and the installation of crushing and agglomeration facilities and heap leach pads near the mine site together with approximately 15 kilometres of pregnant leach solution (\"PLS\"), raffinate and water pipelines to and from the Ivan plant. As part of the DFS, the Company will complete infill and geotechnical drilling and intends to expedite the permitting process with the objective of starting production at the end of 2018 or early 2019.Phase 2 will be the continuing exploration and development of the Marimaca deposit and its potential extensions with the objective of significantly increasing the resource base. This work will involve the consolidation of the mining property in the area, and will start with the exploration of the newly-optioned La Atomica property.Phase 3 anticipates a significant increase in t...