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| | February 14, 2008
Coro To Conduct Independent Preliminary Economic Assessment On 35-50,000 Tpy Copper In Concentrate Production From San Jorge - NR 08-03
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| | February 14, 2008 Coro Mining Corp. ("Coro" or the "Company") (TSX Symbol: COP) is pleased to announce that it has engaged GRD Minproc Ltd. to complete a Preliminary Economic Assessment (PEA) on producing between 35-50,000 tonnes per year of copper in concentrate from the Enriched and Primary material at San Jorge.
The PEA will evaluate a 10 million tonnes per year flotation only operation capable of producing 35-50,000 tonnes per year of copper in concentrates, together with a significant precious metals credit. A smaller 6 million tonne per year case will also be evaluated. Oxide material would be treated as waste and stockpiled separately. The PEA is scheduled for completion in the second quarter, and assuming a positive outcome, the Company intends to complete an Environmental Impact Study and initiate permitting activities.
In addition, the Company is finalizing a 25,000 tpy copper cathode leach only pre-feasibility study managed by Ausenco Ltd., which contemplates treatment of Oxide and Enriched material by heap leaching. This study is also scheduled for completion in the second quarter.
Resources at San Jorge contained within the Oxide material, can only be processed by heap leach methods; Enriched material, can be processed by either heap leach or flotation; and Primary material can be processed only by flotation methods. Current legislation in the Province of Mendoza prohibits the use of toxic substances, including sulphuric acid required in heap leaching, in metalliferous mining. As announced in the Company's news release 07-05 of July 23rd 2007, the Company initiated legal action contesting this legislation on grounds of unconstitutionality, and subsequently has been evaluating the processing of the Enriched and Primary material by conventional flotation methods, which in the Company's opinion do not require the use of prohibited toxic substances.
Coro is confident that the San Jorge Project, if demonstrated to be economically viable, could be developed in an environmentally responsible manner to the lasting economic and social benefit of the local community and the Province of Mendoza. For further information about the Project, please refer to the Company's website.
CORO MINING CORP.
"Alan Stephens"
Alan Stephens
President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. The Company has two main properties; Barreal Seco, in Chile and San Jorge, in Argentina, as well as other exploration properties located in Chile and Mexico.
For further information please visit the Company's website at www.coromining.com or contact Michael Philpot, Executive Vice-President at (604) 682 5546 or investor.info@coromining.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. |
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