Coro Mining Corp.
TSX : COP

Coro Mining Corp.

November 25, 2009 15:05 ET

Coro Initiates Drilling Program at Chacay Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2009) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce that it has initiated a 1,000m reverse circulation drilling program at its 100% owned Chacay porphyry copper property, located 12km southeast of Teck Resources Limited's Relincho copper project, and 50km east of the city of Vallenar in the III Region of Chile.

About the Chacay Property

The property hosts a well defined porphyry copper prospect of probable Paleogene age that has previously been drill tested by several companies. It has been mapped and sampled by Coro and a ground magnetic survey has been completed. The drillhole locations and summary geological information are available for some of the previous drilling but it has not been possible to obtain the corresponding assay information. A zoned porphyry alteration suite of external propylitic alteration surrounding a quartz-sericite core is developed over a distance of 3,500m, oriented west northwest. A strongly developed sulphide stockwork coincident with an intensely phyllic altered quartz feldspar porphyry, occurs over an area of 1,000 x 1,000m centered on Chacay. This hill has an elevation difference of 300m over the surrounding valleys and hosts a leached cap, which drilling has shown to vary from 50 to 200m in thickness. Underlying the leached cap, a partially oxidized, flat lying, chalcocite enrichment blanket has been intersected in drilling, that is currently interpreted to be between 20 and 110m thick.

In 2004, Minera Cielo Azul Limitada ("MCAL"), then a subsidiary company of First Quantum Minerals Ltd. ("FQM") drilled a total of 7 RC holes. Three of these holes intersected porphyry copper style mineralization but were only assayed for total copper. The significant intersections were as follows:

HoleFromToMeters%CuT
CHCRC021442280.51
CHCRC05190198 end of hole80.56
CHCRC0682160780.44
- including102126240.73

Coro acquired MCAL in 2005, and as previously reported in news release NR07-09, recovered and re-assayed some of the mineralized samples for acid soluble and cyanide soluble copper. This re-assaying indicated that the mineralization encountered in holes CHCRC05 and 06 is comprised of mixed copper oxide and chalcocite, exhibiting high total solubilities. Mineralization in CHCRC02 was copper oxide. The high grade section in CHCRC06 was re-assayed in its entirety and found to average 24m @ 0.76%CuT, 0.34%CuSol, and 0.27%CuCN, for a total solubility of 79.5%.

Alan Stephens, President and CEO of Coro commented, "The results of the short re-assaying program announced in 2007 demonstrate the potential for heap leachable copper mineralization in a partially oxidized chalcocite enrichment blanket at Chacay. Coro has now initiated a drilling program to further define this large target, and we look forward to announcing assay results in due course."

All FQM-MCAL RC holes were sampled on a 2m continuous basis, with samples riffle split on site and one quarter sent to the ALS Chemex laboratory in La Serena. Samples were transported to the laboratory by MCAL personnel. Samples were prepared using the following standard protocol: drying, crushing to better than 95% passing 2mm, splitting and pulverizing a 200g subsample to 95% passing 0.106mm. All samples were analyzed for CuT; some samples were also assayed for Au. The 2007 MCAL re-assaying program comprised the recovery of selected FQM-MCAL RC samples stored on site and their shipment to Andes Analytical Assays for preparation and sequential assaying for CuT, CuSol and CuCN, as well as for Au and Mo. 

Angelo Peri, VP Exploration, Coro Mining Corp., a geologist with more than 24 years was responsible for the design and conduct of the exploration, and Alan Stephens, FIMMM, President and CEO, of Coro Mining Corp, a geologist with more than 34 years of experience is the Qualified Person for the purposes of NI 43-101.

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 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 core property is the advanced San Jorge copper-gold project, in Argentina, the Company holds other earlier stage exploration properties located in Chile and also holds a 30% interest in Valley High Ventures Ltd. (TSX-V Symbol: VHV-V).

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.

Contact Information