|March 30, 2012|
Coro Announces Commencement of Drilling At Berta Property And Filing Of Propipe PFS Copper Leach Project
|March 30 2012, Coro Mining Corporation ("Coro", or the "Company") (TSX symbol: COP) is pleased to announce that a second round of drilling is underway on its Berta Property in Chile. The Company anticipates completing approximately 5,000m of reverse circulation drilling aimed at testing a number of targets outlined by mapping and the previously completed Induced Polarization survey as well as further defining the mineralization intersected in its 2011 drilling campaign. Berta is located approximately 20km west of the village of Inca de Oro in the III Region of Chile. |
Coro announced the terms for the 100% acquisition of Berta in its news release of June 13th 2011 and released encouraging assay results from a 24 hole RC drilling program completed at the Berta Sur section of the property, on September 27th, 2011.
In addition, the Company announces that it has filed, on SEDAR, the Preliminary Feasibility Study ("PFS") on the San Jorge Copper Leach Project prepared by Process and Pipeline Projects SA. ("Propipe"), based in Santiago, Chile as required under NI 43-101. The highlights and details of the Propipe PFS were disclosed in the Company's news release dated March 5, 2012. There were no material differences in the mineral resources, mineral reserves or results of the PFS and the previously issued news release. The PFS is available at www.sedar.com or on the Company's website at www.coromining.com. The Company anticipates being able to provide an update on the San Jorge project shortly.
CORO MINING CORP.
President and CEO
About Coro Mining Corp.:
The Company was founded with the goal of building a mining company focused on medium-sized base and precious 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. Coro's properties include the advanced San Jorge copper-gold project, in Argentina, and the Berta, El Desesperado, Chacay, Llancahue, and Celeste copper exploration properties located in Chile.
About ProPipe S.A.:
ProPipe is a Chilean supplier of consultancy, engineering and project management services to its customers in the mining process, infrastructure and environment markets. ProPipe have relevant experience in conceptual and basic design, preliminary feasibility and feasibilities studies, and detailed engineering for mining companies in Chile; some of the main clients are BHP Billiton's Minera Escondida, Antofagasta Minerals's Minera Los Pelambres, Minera El Tesoro, Minera Esperanza, Minera Las Cenizas and Algorta Norte. The latest Propipe's projects are Camarones 12,000 ton per year Copper Cathodes plants, Algorta Norte 78 km Sea Water Pipeline and Minera Escondida Coloso Filter Plant Expansion Project.
ProPipe main office is located in Santiago of Chile, and have more than 100 professionals dedicated to the design and management of engineering projects, allowing covering efficiently the stages of evaluation, design and implementation of projects.
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 firstname.lastname@example.org
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 Company's business strategy, the prices of copper, construction schedules, operating and capital budgets, anticipated mineral recoveries, 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, global economic conditions, changes in prices or demand for commodities including, in particular, copper, changes in exchange rates, changes in national or local governments, changes in legislation or regulation or the implementation or interpretation of laws or regulations, changes in tax rates, timeliness of government approvals, political or environmental activism, the factual results of current exploration, development and mining activities, accuracy of resource and reserve estimates, changes in project parameters as plans continue to be evaluated, access to skilled personnel, labour relations, costs of labour, costs and availability of materials and equipment, changes in refining or transportation costs, as well as those other 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Actual results may differ materially from those expressed or implied by such forward-looking statements.