TORONTO, Oct. 31 /CNW/ - Coronation Minerals Inc. (TSX.V:CMV) (the "Company") announces that due to current market conditions the Company is not proceeding with the acquisition of the Wellgreen Project from Northern Platinum.
The Company is maintaining the 100% owned Rory Claim consisting of 265 staked claims located contiguous and south of the Wellgreen leased ground. This group encompassed an airborne magnetic survey and discovered an electromagnetic anomaly measuring approximately 3.5 km x 2.5 km zone. Ground truth geological investigation showed the zone is mineralized with initial prospecting samples running as high as 3.96% Cu and elevated Ni values ranging from 65 - 193 ppm. Gossan/Skarn, and floats of massive sulfides were reported by the Company's geological team.
About Coronation Minerals Inc.
Coronation Minerals Inc. is a Canadian based resource company whose focus is to explore for and develop mineral deposits throughout the Coronation Gulf Region, Nunavut Territory, and Yukon Territory, Canada.
Additional Information
Information is available on Coronation's website at www.coronationminerals.com and on www.sedar.com, and through Coronation's offices by contacting:
John Patrick Sheridan, President 141 Adelaide Street West, Suite 1205 Toronto, ON M5H 3L5 Tel: (416) 628-5936 Fax: (416) 628-5935 E-mail: info@coronationminerals.com
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