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Coro Mining: Results of Scout Drilling Confirm Potential for Near Surface Oxide Deposits to North and South of Marimaca Deposit
VANCOUVER, British Columbia, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) is pleased to release the results of a pre
About this update from Marimaca Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 24, 2020 (GLOBE NEWSWIRE) -- Coro Mining Corp. (“Coro” or the “Company”) (TSX: COP) is pleased to release the results of a preliminary scout drilling programme close to its flagship Marimaca Copper Deposit (“Marimaca” or “the Project”). The programme had the objective of testing several oxide targets within close proximity to both the north and south of the Project area, which have the potential to add near surface tonnes to any future mine plans. Highlights 31 shallow scout reverse circulation (“RC”) drill holes completed targeting the identification of new, surface, oxide mineralised copper zones to the north and south of Marimaca Drilling both north and south intercepted mineralisation confirming potential for new oxide resources○ 27 out of 31 holes encountered zones of oxide copper mineralisation offering potential areas for follow up drilling○ Several broad zones of copper mineralisation encountered grading above the economic cut-off grade used for the updated MRE at Marimaca Significant copper mineralised zones encountered downhole include:○ 42 metres @ 0.34% CuT in SIR-09 from surface;○ 26 metres @ 0.54% CuT in SIR-07 from 210 metres;○ 40 metres @ 0.49% CuT in SOR-03 from 76 metres; and ○ 30 metres @ 0.31% CuT in OLR-1 from surface. Drilling provides new information to re-plan and focus ongoing exploration for near surface oxide deposits surrounding Marimaca ○ Development of an updated exploration plan is well advanced Hanging Wall Alteration zone, interpreted as representing the upper expression of Marimaca style mineralization at depth, has been identified extending over 10km across the project area Marimaca Deposit remains open to the north and south and at depth with its exciting sulphide potential Michael Haworth, Executive Chairman of Coro Mining Corp commented: “Coro’s exploration team has unearthed what we believe is one of the best copper oxide discoveries in Chile in the past decade. Their enthusiasm for the potential of the broader Project area has not diminished either. “In late 2019, the team completed a scout drilling programme approximately 2km to both the north and south of the Marimaca Copper Deposit. The programme was designed to test a selection of near surface oxide targets to identif...