Coronation Minerals Inc.
TSX VENTURE : CMV

November 09, 2005 10:30 ET

Coronation Minerals Inc.: Press Release

TORONTO, ONTARIO--(CCNMatthews - Nov. 9, 2005) - Coronation Minerals Inc.(TSX VENTURE:CMV) has completed a 3,324 metre drill program on its Coppermine River, Copper-Silver-PGE Property located in NW Nunavut during the 2005 summer field season.

A total of 7 holes were drilled in the area of the Dot 47 Copper-Silver Deposit for 2,976 metres.

The program was designed to test on-strike and down-dip extensions to the known mineralization. Previous workers had calculated resources of 3,433,000 tons grading 3.2% copper plus some silver in a mineralized zone measuring 400 metres long by 11 metres wide to a depth of approximately 170 metres (J. M. Bracken P.Eng., 1968).

All of the 2005 holes intersected interesting copper sulphide mineralization mainly in carbonate-veined, fractured and brecciated basalt flows and flow top breccia. Sulphide minerals include chalcocite, bornite and chalcopyrite. Some native copper is also noted.

The drilling successfully extended the strike length of the mineralization to 660 metres and added a down-dip dimension of 100 metres for a total vertical depth of approximately 200 metres. The mineralization remains open to depth and along strike.

Copper and silver assays for the first 5 holes are tabulated below. Assays for the remaining 2 holes, plus PGE results are awaited.



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Hole Number Intercept From To Length Copper Silver
(m) (m) (m) (%) (g/t)
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2005-47-04 1 46.89 65.50 18.61 0.75 1.88
includes 48.89 61.00 12.11 0.95 2.47
includes 54.00 56.76 2.76 1.96 6.48

2 107.70 120.05 12.35 1.28 4.64
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2005-47-05 1 83.88 89.01 5.13 0.84 2.01

2 142.28 161.80 19.52 1.90 4.90
includes 147.00 156.98 9.98 3.07 7.38
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2005-47-06 1 49.41 63.45 14.04 0.64 3.38

2 207.68 234.00 26.32 1.23 3.75
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2005-47-07 1 176.99 229.87 52.88 1.16 3.52
includes 218.23 229.87 11.64 2.71 7.29
includes 227.98 229.87 1.89 9.69 3.70

2005-47-08 1 142.08 203.32 61.24 0.69 0.21
includes 142.08 172.00 29.92 0.90 0.34
includes 156.94 166.00 9.06 1.23 0.39
includes 179.47 203.32 23.85 0.65 0.15
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Dot 47 is situated on the regional, NE trending, Teshierpi Fault zone. Copper mineralization has been identified over an 8 kilometer length of this structure and this length lies on the Company's No. 2797 Mining Lease.

The drilling program was carried out and reviewed under the direction of Mr. Neil Willoughby, a qualified person under the meaning of National Instrument 43-101. Mr. Willoughby has reviewed the exploration results contained in this news release. Drill core is split with half sent to Loring Laboratories of Calgary for analysis.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Coronation Minerals Inc.
    Peter W. Holmes
    Chairman and C.E.O.
    (520) 240-5306
    347 Bay St., Suite 101 Toronto, Ontario M5H 2R7
    info@coronationminerals.com