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Coro Announces Drilling Results, Including 160m @ 0.74%CuT and Provides an Update for its Barreal Seco and Satellites Project in Northern Chile VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 21, 2007 -- Coro Mining Corp. ("Coro" or the "Company") (Toronto:COP.TO - News) is
pleased to announce Reverse Circulation (RC) drilling results
and provide an update for the advanced stage Barreal Seco
and Satellites Project in Chile. The Project comprises the
Barreal Seco deposit and the Salvadora, Flor de Lirio and
Celeste Satellite Prospects.
A drilling program comprising a total of 43 RC holes for 8,510 meters has recently been completed at the Barreal Seco deposit aimed at: a) converting Inferred Oxide and Primary Sulphide resources to Measured and Indicated Category (14 holes/3,160m) (Resource Conversion Drilling); b) defining limits to the existing resource (18 holes/3,150m) ("Resource Limit Definition Drilling"); and c) exploring geophysical targets on the property (11 holes/2,200m) ("Exploration Drilling"). Alan Stephens, President and CEO of Coro, commented, "The Barreal Seco and Satellites Project continues to make good progress, and we are particularly pleased by the long sulphide intersections encountered in this latest drilling, highlighted by 160m @ 0.74%CuT in RBS 70 and 126m @ 0.77%CuT in RBS 72. In addition, good potential exists for the Salvadora Satellite Prospect to contribute oxide resources to the overall Project. We will be evaluating the potential for producing both copper cathode and copper in concentrates from the Project in our internal scoping study which is expected to be completed in the second quarter of 2008." Resource Conversion Drilling: Holes RBS 70-75 were aimed at converting Primary Sulphide Inferred resources in the Main Zone of the Barreal Seco deposit to Indicated resource, while holes RBS 62-69 were aimed at converting Inferred Oxide and Primary Sulphide resources in the South East Zone of the deposit to Indicated category. Several holes ended in significant sulphide mineralization.
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Main Zone Primary Infill Drilling
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Ore
Hole From To meters %CuT %CuSol Type TD
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RBS 70 42 100 58 0.56 0.42 Oxide 260
RBS 70 100 260 160 0.74 Primary
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RBS 71 0 98 98 0.64 0.46 Oxide 250
RBS 71 112 152 40 0.51 Primary
RBS 71 164 174 10 0.45 Primary
RBS 71 188 218 30 0.38 Primary
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RBS 72 2 8 6 1.45 1.28 Oxide 250
RBS 72 14 70 56 0.80 0.62 Oxide
RBS 72 78 98 20 0.60 0.41 Oxide
RBS 72 104 230 126 0.77 Primary
RBS 72 240 250 10 0.36 Primary
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RBS 73 0 80 80 0.49 0.34 Oxide 250
RBS 73 84 90 6 0.47 Mixed
RBS 73 90 234 144 0.66 Primary
RBS 73 242 250 8 0.47 Primary
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RBS 74 50 66 16 0.27 0.14 Oxide 250
RBS 74 88 100 12 0.32 Primary
RBS 74 132 146 14 0.49 Primary
RBS 74 188 214 26 0.24 Primary
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RBS 75 0 96 96 0.93 0.73 Oxide 300
RBS 75 106 128 22 0.61 Primary
RBS 75 138 252 114 0.50 Primary
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SE Zone Infill Drilling
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Ore
Hole From To meters %CuT %CuSol Type TD
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RBS 62 34 96 62 0.50 0.32 Oxide 200
RBS 62 96 112 16 0.26 Primary
RBS 62 132 152 20 0.66 Primary
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RBS 63 80 120 40 0.60 0.35 Oxide 200
RBS 63 138 160 22 0.28 Primary
RBS 63 180 200 20 0.71 Primary
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RBS 64 14 24 10 0.36 0.19 Oxide 200
RBS 64 34 78 44 0.29 0.22 Oxide
RBS 64 94 106 12 0.58 0.49 Oxide
RBS 64 128 144 16 0.64 Primary
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RBS 65 76 108 32 0.35 0.28 Oxide 200
RBS 65 108 114 6 0.52 Primary
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RBS 66 16 22 6 0.39 0.30 Oxide 200
RBS 66 130 138 8 0.26 0.21 Oxide
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RBS 67 No significant results 200
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RBS 68 2 16 14 0.49 0.40 Oxide 200
RBS 68 46 86 40 0.30 0.22 Oxide
RBS 68 100 110 10 0.28 0.17 Oxide
RBS 68 138 172 34 0.46 Primary
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RBS 69 148 158 10 0.46 Primary 200
---------------------------------------------------------------------------Resource Limit Definition Drilling: This drilling was aimed at defining the limits to the mineralization to the northwest (Holes RBS 39-42, 45), west (Holes RBS 76-81), and south east (Holes RBS 55-61) of the existing Barreal Seco resource. Additional oxide and sulphide mineralization was intersected in holes drilled immediately to the west and northwest of Barreal Seco as shown in the accompanying table. The remaining holes did not intersect significant mineralization and the deposit is now believed to be effectively closed off.
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Resource Limit Definition Drilling
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Ore
Hole From To meters %CuT %CuSol Type TD
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RBS 41 106 126 20 0.33 0.26 Oxide 200
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RBS 42 28 42 14 0.34 0.29 Oxide 200
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RBS 76 16 66 50 0.32 0.24 Oxide 100
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RBS 78 0 66 66 0.42 0.27 Oxide 100
RBS 78 80 94 14 0.53 Primary
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RBS 79 16 30 14 0.51 0.25 Oxide 150
RBS 79 54 68 14 0.28 0.19 Oxide
RBS 79 118 140 22 0.23 Primary
---------------------------------------------------------------------------Exploration Drilling: Holes RBS 43, 44, 46-54 tested ground magnetic anomalies along strike to the northwest from Barreal Seco and did not encounter significant mineralization. Project Update: The Company continues to work towards completion of an internal scoping study for the Barreal Seco and Satellites Project, which is scheduled for the second quarter of 2008. Metallurgical testwork is underway for both Barreal Seco and Salvadora, and an updated resource estimate for Barreal Seco, incorporating these latest drilling results, is in progress. Drilling results for the Salvadora Satellite Prospect were released in NR07-08 on September 20th, 2007, and a gravity survey and additional RC drilling is anticipated to be completed at Salvadora before year end. For further information about the Barreal Seco and Satellites Project and a drill plan map showing the recent drilling, please refer to the Company's website www.coromining.com or refer to the NI 43-101 Technical Report on the Barreal Seco Property dated February 2007 on SEDAR at www.sedar.com. All RC holes were sampled on a 2 m continuous basis, with samples riffle split on site and one quarter sent to the ALS Chemex laboratory in La Serena. A second quarter was stored at a MCAL facility for reference. Samples were regularly collected at Chanaral by a truck belonging to ALS Chemex and transported to the laboratory. Samples were prepared using the following standard protocol: drying, crushing to better than 70% passing -10#, splitting and pulverizing a 1,000 g subsample to 85% passing -200#. All samples were analyzed for CuT and CuSol; some samples were assayed for Au. A full QA/QC program, involving insertion of appropriate blanks, standards and duplicates was employed with acceptable results. Angelo Peri, VP Exploration, Coro Mining Corp., a geologist with more than 22 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 32 years of experience is the Qualified Person for the purposes of NI 43-101 and has reviewed the information in this new release. CORO MINING CORP. 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 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 and it has established an experienced development and exploration team to accomplish this. The Company has two main properties; Barreal Seco, in Chile and San Jorge, in Argentina, as well as other exploration properties located in Chile and Mexico. 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, Price Edward Island and Newfoundland and Labrador. Contact: Contacts:
Coro Mining Corp.
Michael Philpot
Executive Vice-President
(604) 682-5546
Email: investor.info@coromining.com
Website: http://www.coromining.com
Source: Coro Mining Corp.
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