Explorex Resources Samples 2.34% Cobalt and 730 g/t Silver at the Cobalt-Paragon Project, Ontario

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Explorex Resources Inc. (CSE: EX) (FSE: 1XE) (OTC Pink: EXPXF) (the “Company” or “Explorex”) is pleased to announce results from the Company’s reconnaissance exploration program at the Cobalt-Paragon project, Ontario (“Project”), completed in late 2017.

Key Highlights

  • 2.34% Co and 730 g/t Ag grab sample(1) from the Paragon-Hitchcock muck pile;
  • 7.47% Cu and 3.23 g/t Au grab sample from the Cobalt-Frontenac muck pile;
  • New target trending oblique to known zones identified by MMI soil survey;
  • Permit application submitted to drill previously untested down-dip and extension of high-grade mineralization as well as newly identified target.

CobaltParagon Field Programme Summary

Cobalt-Paragon consists of two historic mines (active period 1900-1920), the high-grade silver-cobalt Paragon-Hitchcock and the shear hosted copper-gold Cobalt-Frontenac (see Company news release dated November 11, 2017 for further details) located close to Elk Lake, Ontario, less than an hour drive along provincial highways from both Cobalt and Kirkland Lake.

The field work performed in November 2017 represented an initial investigation of the Project and ‘on-the-ground’ preparation for a more comprehensive exploration programme to follow. The field programme consisted of ground truthing the prominent mineralization in the vicinity of the historic workings and a mobile metal ion (“MMI”) soil geochemistry survey.

Rock Samples

The Project area is characterized by glacial till coverage with limited outcrop exposure. Grab samples(1) were primarily collected at sites where historic workings provided adequate material for sampling.

The muck piles at both historic mines were sampled in order to characterize the mined material and the target mineralization. Grab samples from the Paragon-Hitchcock muck pile returned up to 2.34% Cobalt and 730 g/t Silver. One grab sample from the Cobalt-Frontenac muck pile returned 7.47% Copper and 3.23 g/t Gold.

Note(1):The surface rock grab samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Grab samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the Project.

MMI Survey

The Company elected to perform a MMI soil survey in order to identify mineralization hidden under the glacial till in the prospective area adjacent to the Paragon-Hitchcock shaft. The soil survey consisted of 82 samples along four lines and functioned as both an orientation survey and as an exploration tool to identify extensions of the main showing or parallel features. Initial interpretation of the MMI results reveals a positive result along the known east-west mineralized trends supporting the efficacy of the survey. In addition, the survey identified a new anomalous feature trending oblique to the main mineralized structures.

The soil samples were analysed by SGS Laboratories using MMI digestion and ICP-MS analysis. SGS is an ISO 9000 certified laboratory with widely recognized expertise in geochemical analysis.

Gary Schellenberg, CEO of Explorex commented, “The field investigation conducted at the end of last year has confirmed the presence of high-grade mineralization at the Cobalt-Paragon Project reflective of the historic developments’ accounts and readily supports a comprehensive exploration programme for this year.”

The Company has submitted the permit application to drill the previously untested down dip and strike potential of the two known mineralized structures as well as the newly identified oblique-trending MMI anomaly feature.

The scientific and technical disclosure in this news release has been supervised and approved by R. Kemp P.Geo., a Qualified Person as that term is defined in NI 43-101.

About Explorex Resources Inc.

Explorex is an exploration company that owns 100% of the Chrysler Lake project, and has an option agreement to acquire 100% in the Cobalt-Paragon project, both of which are located within the Cobalt Embayment region of north-eastern Ontario. The cobalt projects form a nucleus of a strategy to acquire additional projects where the commodity focus is on metals critical to rechargeable battery technology. The Company also owns 100% of the Silver Dollar project, subject to issuance of an additional 800,000 shares.

On behalf of the Board,
Gary Schellenberg,
CEO

For further information, please contact Gary Schellenberg, CEO or Mike Sieb, President at 604-681-0221 or Ron Birch at bircress@shaw.ca; phone 1-800-910-7711

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

from Newsfile Corp News Releases http://ift.tt/2n1xCjk

Advertisements

Genesis Drilling Returns 8.73 g/t Gold Over 21.35 m From Chevrier Main Zone

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Genesis Metals Corp (TSXV: GIS) (“Genesis” or the “Company”) is pleased to announce the results from the second phase of drilling completed at the Chevrier gold project (the “Project”) near Chibougamau, Quebec.

Highlights from Main Zone

  • 8.73 g/t Au over 21.35 m including 37.97 g/t Au over 3.00 m in hole GM-17-42
  • 3.59 g/t Au over 22.60 m in a separate zone in hole GM-17-42
  • 4.26 g/t Au over 19.40 m including 8.99 g/t Au over 7.80 m in hole GM-17-48
  • 4.47 g/t Au over 12.45 m within an interval of 1.08 g/t Au over 84.85 m in hole GM-17-46
  • 5.06 g/t Au over 8.45 m and 1.23 g/t Au over 43.00 m in two intervals in hole GM-17-41
  • 4.53 g/t Au over 13.80 m in hole GM-17-44
  • 1.04 g/t Au over 50.05 m including 1.94 g/t Au ov

Brian Groves, CEO of Genesis commented “We are very pleased with these new results as they now appear to define a near surface zone of higher grade with the potential for expansion at depth. We will now focus on refining our geological model for the Main Zone as we work towards an updated global resource for Chevrier in 2018.”

Discussion of Results

  • Holes GM-17-45 and GM-17-46 were drilled to test for extensions to Hole GM-17-09 (2.94 g/t Au over 37.40m – previously reported in Company news release dated October 3, 2017). This drilling has identified a new north-east trending shallow extension of mineralization encountered in Hole GM-17-09. Similarly, the results from Holes GM-17-41 and GM-17-44 define a new deeper south west extension of the mineralization encountered in GM-17-09. This large and well mineralized zone now appears to be defined over a distance of more than 300m. This zone is a priority for geological modeling.
  • The results from the highlighted holes above would suggest an area of shallow higher grade mineralization has been defined and still remains open at depth in the southern part of the Main Zone.
  • The majority of mineralized intercepts reported herein are less than 150 m depth
  • All 18 holes drilled into the Main Zone intersected mineralization with only one hole returning gold grades of less than 1 g/t.
  • More significant drill results are tabulated below.


Drillhole From To Core Length Au grade (g/t)
GM-17-41 108.25   116.7 8.45 5.06
GM-17-41 127.75   170.75 43 1.23
GM-17-41 Including 151.25 155.45 4.2 6.43
GM-17-42 13.4   36 22.6 3.59
GM-17-42 44   48 4 0.85
GM-17-42 107.45   128.8 21.35 8.73
GM-17-42 Including 110 113 3 37.97
GM-17-43 109.3   111.6 2.3 0.35
GM-17-43 130.9   134.6 3.7 1.17
GM-17-43 148.4   152.3 3.9 1.15
GM-17-43 168.8   169.1 0.3 6.69
GM-17-44 109.05   159.1 50.05 1.04
GM-17-44 Including 109.05 119.4 10.35 1.37
GM-17-44 Including 142 159.1 17.1 1.94
GM-17-44 203   216.8 13.8 4.53
GM-17-45 35.4   98.4 63 0.5
GM-17-45 Including 35.4 37.3 1.9 2.47
GM-17-45 Including 45 52.6 7.6 0.47
GM-17-45 Including 66.15 70.75 4.6 1.07
GM-17-45 Including 79.9 85.4 5.5 0.39
GM-17-45 Including 79.9 98.4 18.5 0.85
GM-17-45 90.6   100.9 10.3 1.38
GM-17-46 19.35   104.2 84.85 1.08
GM-17-46 Including 19.35 31.8 12.45 4.47
GM-17-46 Including 20.3 28.2 7.9 6.4
GM-17-46 Including 39.5 49.4 9.9 2.52
GM-17-46 Including 41.3 46 4.7 4.47
GM-17-46 Including 55.5 59.15 3.65 0.63
GM-17-46 Including 64.65 65.7 1.05 2.22
GM-17-46 Including 89.3 92.3 3 0.23
GM-17-46 Including 99.2 104.2 5 0.98
GM-17-47 31   34.6 3.6 0.97
GM-17-47 43   46 3 0.65
GM-17-47 69.3   78.8 9.5 0.91
GM-17-48 51.8   59.8 8 0.62
GM-17-48 67.35   86.75 19.4 4.26
GM-17-48 Including 72.6 80.4 7.8 8.99

 

Note: Mineralized intervals were determined using a 0.5 g/t Au cut-off & are length weighted averages of the gold values. (Samples under the limit of detection (5 ppb Au) are reported to half of the detection limit (2.5ppb) for composites.) True width is estimated to be approximately 65% of the indicated core lengths.

Future Plans

The Company has identified key controls to gold mineralization within the Main Zone. Gold essentially correlates with higher percentages of veins which are themselves hosted in a larger sheared zone characterized by mylonitic texture and strong ankerite-fuchsite-tourmaline-silica alteration.

Using these recently identified criteria Company geologists are focusing on the completion of updated models for gold grade distribution within the Main Zone. Those models will be integral components for a revised global resource estimate due to be completed in 2018.

Other Information

Additional information including Main Zone drilling cross-sections, a map showing locations of the 18 holes within the Main Zone and complete results from all drilling (including results from holes drilled in an area 5 km north of the Main Zone) are available on the Company’s website at http://ift.tt/2zKjeRN

Mr. Andre Liboiron, P. Geo, Exploration Manager for the Company and the Qualified Person as defined within National Instrument 43-101 for the Chevrier Project, has reviewed the contents of this news release.

Quality Control and Quality Assurance

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the Property. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. Actlabs in Ancaster, Ontario, Canada (ISO 17025 certification) assayed all rock and core samples from the current field program using fire assay and atomic absorption finish for gold and gravimetric finish if gold grades exceeded 5 g/t Au.

Mr. Andre Liboiron, P. Geo, Exploration Manager for the Company and the Qualified Person as defined within National Instrument 43-101 for the Chevrier Project, has reviewed the contents of this news release.

About Genesis Metals

The Company is focused on advancing the Chevrier Gold Project located 35 km southwest of Chibougamau, Quebec. The Project is located along the Fancamp Deformation Zone, 15 km northeast of the high-grade Monster Lake gold discovery and 15 km northwest of the past producing Joe Mann gold mine.

Genesis also owns 100% the 203 km2 October Gold project located in the southern Swayze greenstone belt in Benton Township, Ontario. This project is located 35 km northwest of IAMGold and Sumitomo Mining’s Cote Lake deposit and 50km southeast of Goldcorp’s Borden gold deposit.

ON BEHALF OF THE BOARD

“Brian Groves”
Brian Groves
CEO and Director

“Jeff Sundar”
Jeff Sundar                 
President and Director

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-646-8356 Fax: 604-484-7155
Email: js@genesismetalscorp.com
Website: www.genesismetalscorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain disclosure in this release, constitute forward-looking information or statements (collectively, “forward-looking statements”) for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company’s planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company’s exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

from Newsfile Corp News Releases http://ift.tt/2DASI1G

Sienna Resources Inc. Closes Oversubscribed Placement of $2.5 million for Cobalt Project Development

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Sienna Resources (TSXV: SIE) (FSE: A1XCQ0) (OTC Pink: SNNAF) has closed a non-brokered private placement consisting of twelve million five hundred thousand units at 20 cents per unit for gross proceeds of $2,500,000. Each unit consists of one common share of the Company and one transferable share purchase warrant, exercisable at 30 cents per share until January 16, 2023. An aggregate finders’ fee of $98,800 and 494,000 Broker Warrants was paid in connection with the private placement. The B Warrants are each exercisable at $0.30 per share until January 16, 2023. All the securities issued in connection with this private placement have a hold period that expires on May 17, 2018. Proceeds will be used toward the Company’s working capital, loans payable and the planned work programs, including drilling in Sweden. The private placement is subject to final approval of the TSX Venture Exchange and was originally announced on December 18, 2018, and increased on January 4, 2018. Please refer to those news releases.

Jason Gigliotti President of Sienna Resources states, “We are very pleased to have such a strong interest in the placement as we had orders for significantly more than we closed. We thought it was prudent to only take $2.5 million to keep the share structure intact. We expect to be on the ground in Sweden this month with a full scale drill program planned for the first quarter. We are very optimistic about the prospects in Sweden and look forward to getting boots on the ground immediately. Cobalt prices are at 10 year highs and demand for ethically sourced cobalt has never been higher. We want to thank our placement subscribers for their continued strong support of Sienna.”

About Sienna Resources Inc.:

Recently Sienna received TSX Venture approval to go forward into an exploration and option agreement to acquire the Slättberg Cobalt-Nickel-Copper Project in Sweden (the “Project”). The Project consists of two adjacent exploration permits comprising approximately 9513 contiguous acres.

Jason Gigliotti president of Sienna states, “We are very pleased to receive approval for this exciting cobalt-nickel-copper prospect. Cobalt prices have just crossed fresh ten year highs, and we look forward to advancing this prospect. There are 12 historic mines on this property and with modern mining approaches, we are very optimistic about what this project could contain.”

Northvolt is planning to be the largest battery factory in Europe at roughly the same size as Tesla’s Gigafactory. Jason Gigliotti states “Northvolt wants to locally source as much battery material as possible such as cobalt and nickel. There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel. Sienna is focused on exploring and developing projects that will meet this insatiable demand.”

Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting cobalt-nickel-copper rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and along strike. The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region. At least 12 historic mines are located on the property, with historic operations dating back to the late 1800’s.

To view an enhanced version of this image, please visit:
http://orders.newsfilecorp.com/files/854/32185_a1516585822305_71.jpg

Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments) located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west trend of massive sulfide occurrences developed in and around a similarly oriented body of “leptite”. This is a local term used to describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic rocks also occur in and around the mine workings.

Sweden is at the forefront of an exploration and development boom in the mining industry. The country’s favorable business environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led resource extraction. Sweden has a long history of mining, and is host to some of Europe’s largest active mines.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.

Sienna has launched its new corporate website and branding. Please visit the site at www.siennaresources.com

If you would like to be added to Sienna’s email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com

“Jason Gigliotti”
President, Director
Sienna Resources Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

from Newsfile Corp News Releases http://ift.tt/2DzqSCM

YDreams Global Signs New Project with the Emoji Company

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – YDreams Global Interactive Technologies Inc.  (TSXV: YD) (OTC Pink: YDRMF) (FSE: A2AP0L) (“YDreams Global” or the “Company) would like to announce that it has signed on for a new project for the official Emoji Company. The project is an interactive playground with augmented reality that will bring YDreams Global technology to six shopping malls. Expansion is already in the negotiation stages.

The playground is themed after the iconic emoji’s universe and visitors will pay an affordable fee to gain access.

The new product is part of the Company’s strategy to bring new forms of entertainment to shopping malls. The Company has an established partnership with a leader in this segment and has many similar projects planned for 2018.

“Our interactive technology is very relevant to the retail industry and YDreams Global is fast becoming a reference in this space. We have strengthened our relationship with important chains of shopping malls and hope to launch many projects in the near future. It is a significant new source of revenues for the Company,” stated Daniel Japiassu, CEO of YDreams Global.

YDreams global also recently announced a private placement (December 04 and December 08, 2017). The non-brokered private placement will consist of up to 14,666,666 units at 15 cents per unit for gross proceeds of $2.2-million. Each unit will consist of one common share and one transferable share purchase warrant exercisable at 25 cents for a period of five years. If you would like to participate in this please contact us at hey@ydreamsglobal.com

On January 12th, 2018, YDreams Global signed a $515,000 CAD deal with major sponsor for new project.

On January 5th, 2018, YDreams Global Completed a New Augmented Reality Project for International Fashion Brand Schutz Stores.

On December 22, 2017, YDreams Global announced the opening of the first Arkave Store.

On December 19, 2017, YDreams Global announced a mutual collaboration with Ubique, a reference in eSports with the goal of including Blockchain technology in Arkave.

On December 12, 2017, YDreams Global signed a new Augmented Project for one of the biggest Media and Entertainment companies in the world.

On November 9, 2017, YDreams Global announced the creation of a new blockchain, ICO and cryptocurrency division.

On October 5, 2017, YDreams Global was commissioned by Qualcomm Inc. (QCOM—NASDAQ) to create and design a project for them for Futurecom 2017.

On September 19, 201,7 YDreams Global announced it was commissioned by Octagon to create a project for the NBA.

About YDreams Global

YDreams Global Interactive Technologies Inc. (www.ydreamsglobal.com) is a technology company with offices in Vancouver, Dubai, São Paulo and Rio de Janeiro, that combines Augmented and Virtual Reality Technology, Design and Intelligence to respond to the challenges and demands of today’s users and consumers.

YDreams Global works as a partner for companies and brands to reframe their strategy through relevant human-centered ventures that integrates digital experience with the physical presence and venues. YDreams Global anticipates future challenges and connects them with the needs of the market, building innovative concepts and delivering them with international excellence.

YDreams Global have developed over 1,000 projects for clients all over the world, such as Disney, NBA, Adidas, Cisco, Nokia, Nike, Mercedes Benz, Coca-Cola, Santander, AmBev, Qualcomm, Unilever, City of Rio and Fiat.

More Information:

Daniel Japiassu
Director and Chief Executive Officer
hey@ydreamsglobal.com | www.ydreamsglobal.com | www.youtube.com/ydreamsglobal

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

from Newsfile Corp News Releases http://ift.tt/2F3AWRN

Cruz Cobalt Corp. Significantly Increases Land Holdings on BC Purcell Cobalt Prospect After Receiving Airborne Data

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Cruz Cobalt Corp. (TSXV: CUZ) (OTC Pink: BKTPF) (FSE: A2DMG8) is pleased to announce that the company has significantly increased its acreage on its 100% owned Purcell cobalt prospects in BC. Cruz has now increased the acreage on the Purcell cobalt prospects from 671 acres to now be 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. We have also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in BC and uncovered strong magnetic anomalies (announced January 19, 2017). Management is now working diligently on advancing these two cobalt prospects.

Recently, the company also tripled its landholdings surrounding the War Eagle cobalt prospect in BC. Cruz now has a 100% interest in 15,219 acres on the War Eagle cobalt prospect and 11,821 acres on the Purcell prospect.

Cruz President, James Nelson, stated, “We are pleased to have significantly increased our acreage in BC on both the Purcell and War Eagle cobalt prospects. The airborne data shows strong magnetic anomalies extending into the new acreage acquired in this emerging cobalt camp. We plan to get on the ground as soon as possible to incorporate the new airborne data with ground proofing. We currently have more cash on hand than at any other point to undertake our multiple planned work programs. Cruz is in a prime position to take advantage of the continued global focus on ethically sourced cobalt to supply the exploding demand for lithium/cobalt based batteries primarily for use in electric vehicles. Cruz has prospects in what we feel are most of the prime cobalt camps in North America and we are very optimistic that 2018 will be a breakout year for cobalt prices.”

Cruz currently has eight cobalt projects located throughout North America, comprising of four in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 4,980 acre Hector cobalt prospect and the 1,580 acre Bucke cobalt prospect. The company’s BC prospects include the 15,219 acre War Eagle cobalt prospect and the 11,821 acre Purcell prospect. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect. This new acreage of was acquired via MTOnline.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.

If you would like to be added to Cruz’s email list please send an email to info@cruzcobaltcorp.com or twitter @CruzCobalt

James Nelson
President
604.899.9150
Toll free 1.855.599.9150
www.cruzcobaltcorp.com
twitter @CruzCobalt

from Newsfile Corp News Releases http://ift.tt/2F3ANhd

Coro Announces Agreement to Purchase Claims Adjacent to its Marimaca Copper Project, Chile

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Coro Mining Corp. (TSX: COP) (“Coro” or the “Company”) is very pleased to announce that it has entered into a promise to purchase and sell agreement with a local Chilean company to acquire a 379 hectare package of mining claims (the “SM Claims”) immediately adjoining its Marimaca property to the north and south. The Marimaca project is located 22km east of the port of Mejillones in the II Region of Chile (Figure 1).

Coro will acquire the claims for a total cash consideration of US$6,000,000, comprising a payment on signature of US$100,000 (paid) and the balance of US$5,900,000 payable on completion of due diligence and certain other transfers of title. In addition, the claims will be subject to a 2% Net Smelter Return (“NSR”).

“We are very pleased to have executed this agreement which represents a major step in our development of the Marimaca district,” commented Coro President and CEO, Luis Tondo. “The claims being acquired (Figure 2), immediately adjoin the northern boundary of Marimaca and consolidate the property position in this highly prospective area. They also cover a large area of ground to the south of Marimaca where Coro has identified attractive drill targets. We plan to start drilling the SM claims as soon as the transaction is complete.

In addition, Coro has staked a new mining claim adjoining Marimaca to the south west and connecting with the large 100% owned Ivan claim block which we acquired in 2017. Finally, we have staked a large block of exploration concessions covering much of the Marimaca district.

We look forward to completing the acquisition of the SM Claims in due course so that we can pursue an aggressive drilling campaign on our consolidated property which we are confident will demonstrate the full potential of Marimaca.”

Fig 1: Marimaca Location

To view an enhanced version of Fig 1, please visit:
http://orders.newsfilecorp.com/files/2332/32176_a1516455176498_45.jpg


Fig 2: Marimaca District Coro Claim Map

To view an enhanced version of Fig 2, please visit:
http://orders.newsfilecorp.com/files/2332/32176_a1516455176576_50.jpg


About Coro Mining Corp.:

Coro’s strategy is to grow a mining business through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant; and the Llancahue prospect.

For further information:

Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546, Toll free +1 877 702 2676 or nnemeth@coromining.com
Visit our website site at www.coromining.com
Email us at investor.info@coromining.com
Follow us on Twitter @coromining1

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to timing of future results and further programs.  Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coro’s ability to predict or control and may cause Coro’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements.  These risks, uncertainties and other factors include, but are not limited to, the completion of assays, drill rig availability and ability to finance. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, 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.

Accordingly, readers should not place undue reliance on forward-looking statements. Coro undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

from Newsfile Corp News Releases http://ift.tt/2Dtu6sc

Coro Reports Positive Results from Step Out Drilling at Marimaca Copper Project, Chile

Drilling highlights include 180m @ 0.58%CuT and 72m @ 1.34%CuT

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2018) – Coro Mining Corp. (TSX: COP) (“Coro” or the “Company”) is pleased to announce the results of reverse circulation (RC) step out drilling completed at its Marimaca copper project, located 22km E of the port of Mejillones in the II Region of Chile, (Figs. 1 & 2). Results have been received for all 12 RC holes drilled on the La Atomica claim, which adjoins Marimaca to the NW, and for 7 RC scout holes drilled to the NE of the existing resource on the Marimaca claim. Results have also been received for 5 out of 6 geotechnical diamond (DD) holes drilled on the margins of the initial resource. Since discovery in 2016, Coro has drilled a total of 133 RC and 16 DD holes on property for 32,289m.

The drilling at La Atomica intersected leachable copper mineralization in ten out of twelve holes, with the remaining two holes confirming the location of the SW faulted boundary of the deposit. The mineralized holes contained multiple intersections of oxides similar in grade and thickness to Marimaca, highlighted by 140m @ 0.46%CuT from surface, with some mixed and remnant enriched mineralization at depth, highlighted by 72m @ 1.34%CuT. Topographic constraints resulted in two of the holes being drilled in a sub-optimal orientation with respect to the known structure. This step out drilling has confirmed the potential for additional resources in an area of approximately 300 x 300m at La Atomica and it remains open over a further similar area to the NW, where inspection of underground workings has confirmed the presence of mineralization.

Thick mineralization averaging 180m @ 0.58%CuT was intersected from surface in one of the scout holes drilled some 300m NE of the Marimaca resource, indicating that the deposit continues in this direction. A second hole intersected 42m @ 1.82%CuT at depth as mixed and primary mineralization in the area immediately NE of the resource. Of the remaining five holes, three hit partially leached mineralization, possibly associated with faulting, while the other two appear to have defined the southern boundary of the leachable deposit in this part of the claim.

All of the reported geotechnical holes intersected leachable mineralization, highlighted by 84m @ 1.16%CuT and 96m @ 0.61%CuT, with 12m @ 3.05% in primary mineralization intercepted at depth on the NE side of the deposit.

“We are very encouraged by these results and those from the recently completed infill drill program. The Marimaca deposit continues to grow significantly and still remains completely open to the north and south,” commented Coro President and CEO, Luis Tondo.

Marimaca Drilling Results

Results are shown on Table 1a, 1b and 1c, where %CuT means total copper. Drill hole locations are shown on Fig 3. Drill collar coordinates are shown on Table 2.

Table 1a: La Atomica Intersections

Hole TD   From To m %CuT Type
LAR-01 260m   4 44 40 0.45 Oxide
and 60 84 24 0.36 Oxide
102 224 122 0.44 Oxide
256 260 4 1.89 Mixed
LAR-02 250m   22 44 22 0.43 Oxide
and 80 116 36 0.30 Oxide
210 224 14 0.56 Oxide
LAR-03 250m   2 34 32 0.27 Oxide
and 52 68 16 0.57 Oxide
78 148 70 0.33 Oxide
168 214 46 0.81 Oxide
LAR-04 250m   0 146 146 0.46 Oxide
LAR-05 250m   8 20 12 0.26 Oxide
and 54 82 28 0.49 Oxide
112 184 92 0.49 Oxide

 

Hole TD   From To m %CuT Type
LAR-06 300m   48 80 32 0.40 Oxide
and 112 150 38 0.48 Oxide
150 176 26 0.76 Mixed
206 216 10 0.31 Oxide
228 300 72 1.34 All
including 228 246 18 0.63 Oxide
246 252 6 5.79 Enriched
252 258 6 0.83 Oxide
258 270 12 1.82 Enriched
270 300 30 0.78 Mixed
LAR-07 250m   110 140 30 0.53 Oxide
               
LAR-08 160m No Significant Results
LAR-09 150m No Significant Results
LAR-10 150m   30 62 32 0.42 Oxide
LAR-11 250m   0 54 54 0.32 Oxide
and 72 126 54 0.37 Oxide
148 172 24 0.26 Oxide
172 186 14 1.18 Mixed
LAR-12 250m   88 122 34 0.23 Oxide

 

Table 1b: Marimaca NE Intersections

Hole TD   From To m %CuT Type
MAR-112 250m No Significant Results
MAR-113 250m   166 208 42 1.82 All
and 166 194 28 1.58 Mixed
194 208 14 2.29 Primary
MAR-114 300m   0 180 180 0.58 All
including 0 90 90 0.34 Oxide
90 132 42 1.04 Mixed
138 152 14 0.80 Primary
152 166 14 0.45 Mixed
166 180 14 0.81 Primary
MAR-115 300m   102 124 22 0.49 Primary
               
MAR-116 300m   54 70 16 0.62 Oxide
and 136 148 12 0.27 Mixed
168 178 10 1.15 Primary
MAR-117 250m No Significant Results
MAR-120 250m   112 130 18 0.57 Oxide

 

Table 1c: Marimaca Geotechnical DDH Intersections

Hole TD   From To m %CuT Type
MAD-11 200m   28 42 14 0.68 Oxide
and 68 98 30 0.34 Oxide
110 124 14 0.86 Oxide
136 150 14 1.05 Oxide
170 184 14 0.35 Mixed
MAD-12 200m   90 174 84 1.16 All
  90 116 26 1.87 Oxide
116 132 16 1.17 Mixed
132 164 32 0.61 Oxide
164 174 10 1.01 Mixed
MAD-13 180m   32 46 14 0.37 Oxide
MAD-14 200m Results Awaited
MAD-15 200m   50 146 96 0.61 Oxide
MAD-16 250m   182 194 12 3.05 Primary
and 194 206 12 0.32 Mixed
220 232 12 2.72 Mixed

 

Sampling and Assay Protocol

True widths cannot be determined with the information available at this time. Coro RC holes were sampled on a 2 metre continuous basis, with dry samples riffle split on site and one quarter sent to the Andes Analytical Assay preparation laboratory in Calama and the pulps then sent to the same company’s laboratory in Santiago for assaying. A second quarter was stored on site for reference. Samples were prepared using the following standard protocol: drying; crushing to better than 85% passing -10#; homogenizing; splitting; pulverizing a 500-700g subsample to 95% passing -150#; and a 125g split of this sent for assaying. All samples were assayed for CuT (total copper), CuS (acid soluble copper), CuCN (cyanide soluble copper) by AAS and for acid consumption. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Pulps and sample rejects are stored by Coro for future reference.

Sergio Rivera, Vice President of Exploration, Coro Mining Corp, a geologist with more than 33 years of experience and a member of the Colegio de Geologos de Chile and of the Instituto de Ingenieros de Minas de Chile, was responsible for the design and execution of the exploration program and is the Qualified Person for the purposes of NI 43-101. Alan Stephens, FIMMM, Executive Director of Coro Mining Corp, a geologist with more than 42 years of experience, and a Qualified Person for the purposes of NI 43-101, is responsible for the contents of this news release.

Fig 1: Location of Marimaca

To view an enhanced version of Fig 1, please visit:
http://orders.newsfilecorp.com/files/2332/32175_a1516454968942_89.jpg


Fig 2: Marimaca Claim Map

To view an enhanced version of Fig 2, please visit:
http://orders.newsfilecorp.com/files/2332/32175_a1516454969020_3.jpg


Fig 3: Marimaca Drill Plan

To view an enhanced version of Fig 3, please visit:
http://orders.newsfilecorp.com/files/2332/32175_a1516454969192_69.jpg


Table 2: Drill Collars

Hole Easting Northing Elevation Azimuth Inclination Depth
MAR-112 375281.4 7435950.5 1121.2 310 -60 250
MAR-113 375097.0 7435640.0 1107.0 310 -60 250
MAR-114 375344.9 7435928.8 1120.9 310 -60 300
MAR-115 375378.7 7435877.4 1115.7 220 -60 300
MAR-116 375280.0 7435859.2 1103.1 310 -60 300
MAR-117 375389.8 7435815.0 1122.8 310 -60 250
MAR-120 375157.0 7435662.0 1106.0 310 -60 250
LAR-01 374752.0 7435689.6 1110.7 310 -60 250
LAR-02 374755.1 7435681.9 1111.2 220 -60 250
LAR-03 374684.7 7435736.1 1084.8 310 -60 250
LAR-04 374688.6 7435729.9 1084.6 220 -60 250
LAR-05 374798.4 7435760.2 1102.0 310 -60 250
LAR-06 374805.2 7435754.3 1102.5 220 -60 300
LAR-07 374802.1 7435761.7 1102.4 360 -60 250
LAR-08 374559.0 7435762.7 1016.7 310 -60 150
LAR-09 374562.8 7435756.0 1017.0 220 -60 150
LAR-10 374496.1 7435851.2 974.3 60 -60 150
LAR-11 374686.2 7435733.3 1084.7 270 -60 250
LAR-12 374687.8 7435737.6 1084.8 360 -60 250
MAD-11 374842.5 7435473.3 1077.1 266 -60 200
MAD-12 374904.7 7435652.9 1114.7 324 -60 200
MAD-13 374967.0 7435157.6 1023.8 266 -60 180
MAD-14 375306.3 7435237.7 1093.1 324 -60 200
MAD-15 374824.7 7435609.6 1132.9 220 -60 200
MAD-16 375165.0 7435662.4 1110.2 234 -60 250

 

About Coro Mining Corp.:

Coro’s strategy is to grow a mining business through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company’s preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and, where the likely capital cost is financeable relative to the Company’s market capitalization. The Company’s assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant; and the Llancahue prospect.

For further information:

Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546, Toll free +1 877 702 2676 or nnemeth@coromining.com
Visit our website site at www.coromining.com
Email us at investor.info@coromining.com
Follow us on Twitter @coromining1

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Such forward-looking statements or information, include but are not limited to timing of future results and further programs.  Forward-looking statements involve known and unknown risks, uncertainties and other factors which are beyond Coro’s ability to predict or control and may cause Coro’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements.  These risks, uncertainties and other factors include, but are not limited to, the completion of assays, drill rig availability and ability to finance. Such forward-looking statements are also based on a number of assumptions which may prove to be incorrect, 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.

Accordingly, readers should not place undue reliance on forward-looking statements. Coro undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

from Newsfile Corp News Releases http://ift.tt/2DAKTZS