San Jorge, Argentina (acquiring 100%)

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Located in west-central Argentina in the Province of Mendoza, the large (115,000 ha) San Jorge property lies approximately 45 km north of the town of Uspallata and 250 km northeast of Santiago, Chile.

San Jorge hosts a medium sized copper gold porphyry deposit. The Company has completed a Pre-Feasibility Study (PFS) on the leachable copper resources and a Preliminary Economic Assessment (PEA) on the flotable copper resources.

In Q308, the Company filed the Environmental Impact Study ("EIS") for its San Jorge copper-gold project, which was formally accepted to enter the evaluation process by the Secretary of the Environment of the Government of Mendoza.

Underlying Option Agreement

Coro has an Option to purchase 100% of San Jorge from Lumina Copper by making further staged payments of $15.15 mm on or before May 2013. Upon commercial production, Coro pays Lumina USD$0.02 per paid copper minable proven and probable copper reserves as defined in a bank feasibility study, less the total cash payments. Lumina will also receive a 1.5% NSR in all products produced other than copper.

Geology and Mineralization

San Jorge is a Permian age granodiorite porphyry stock with associated contact and hydrothermal breccias intruded into Paleozoic sandstones and shales. Strong silicification and quartz stockworking has developed in the sediments and porphyry.

The sequence of rocks has been fractured by strong NNE oriented structural controls. Best grades of copper and gold mineralization coincide with tourmaline brecciation. The porphyry shows a vertical zonation from hypogene mineralization at depth, passing upwards into a supergene enriched zone, which is overlain by a zone of oxide mineralization and finally into a thin, poorly developed leach cap.




Resources (0.30% Cutoff)


Engineering Studies

The Company has completed two engineering studies to NI 43-101 Technical Report Standards; a) a Leach Only Copper Project yielding 25,000tpy copper cathode for 10 years, by Ausenco Canda Inc. and b) a Float Only Copper/Gold Project yielding an average 39,500mtpy of copper and 39,000ozpy of gold contained in concentrates for 16 years by GRD Minproc. Both these reports will be filed on SEDAR.

In June 2007, legislation was passed banning the use of toxic chemicals including sulphuric acid in mining activities, which has meant the Leach Only project is not possible at this time and within the Float Only project has considered the oxide material is considered waste and stockpiled separately.

The highlights from these reports are outlined in the table below:

Environmental 

Environment concerns and issues are of highest priority to the Company. The Company appreciates that the development of San Jorge should have no to minimal environmental impact to the land, water and agriculture of the Province of Mendoza and communities within the province. The Company's mandate is to utilize modern mining practices while adhering to strict global standards.
San Jorge is located within a 120,000 hectares ranch controlled by the Company. The nearest community is Uspallata, which is located 45km to the south. There are no competing agricultural interests in the area and no competition for water resources, which rise and fall into a subterrain basin with the Company's property. There is sufficient water supply for the proposed mining operation with anticipated consumption of 140 litres per second or the same amount of water consumed by a typical vineyard with drip irrigation of a 140 hectares size.

EIS Approval Process

The San Jorge EIS'approval process has a number of steps, the first of which is a technical evaluation of the EIS by a local university on behalf of the government which is expected to be obtained in Q3-09. This will be followed by a ministerial project review, public consultation and a formal public meeting anticipated to be completed and ratified by Parliament in Q4-09 or soon thereafter.

In May 2009, the Company filed on SEDAR its Technical Report; for further information please see this link http://www.coromining.com/i/pdf/0905SanJorge34-101techrepFinal.pdf.

On September 10, 2009, the company announced the completion of the evaluation of the San Jorge project environment impact study - please see the link to the report http://www.coromining.com/i/pdf/0909DictamenTecnicovFinal.pdf.


What's Next?

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• To advance the San Jorge Float Only copper gold project through the permitting process



Related Releases

October 20, 2008	Coro Files Environmental Impact Study for San Jorge Copper-Gold Project In Argentina - NR 08-24
April 22, 2008	Coro Announces Conclusions From NI 43-101 Technical Report On San Jorge Float Only Copper Gold Project Preliminary Economic Assessment - NR 08-09
April 03, 2008	Coro Announces Highlights From San Jorge Leach Only Copper Project Ni 43-101 Technical Report - NR 08-08
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
January 16, 2008	San Jorge New Resource Estimate and Project Update - NR 08-01
October 29, 2007	San Jorge Drill Results And Project Update - NR 07-10
July 23, 2007	Minera San Jorge files an action to challenge the constitutionality of recently passed Mendoza Provincial Act - NR 07-05
June 21, 2007	Recent Developments In Argentina - NR 07-02