Corazon Gold Completes Initial Mapping of the Santo Domingo Concession in Nicaragua, and Samples Up to 55 g/t Au
24 Gennaio 2011 - 3:30PM
Marketwired
Corazon Gold Corp. (TSX VENTURE: CGW) ("Corazon") is pleased to
announce that it has completed initial geological mapping over a
significant portion of the 650 hectare historic Santo Domingo
gold-silver property in central Nicaragua. The exploration work has
identified multiple epithermal quartz veins with more than 15
kilometres of cumulative strike, for which rock chip sampling has
returned assay results ranging up to 55.78 g/t gold over 1.3 metres
(true width). An ongoing trenching and sampling program is expected
to further delineate targets for an initial drilling program.
The Santo Domingo property is located 125 kilometres northeast
of Nicaragua and 10 kilometres east of B2Gold Corp.'s La Libertad
Mine. Corazon's concession is entirely surrounded by B2Gold's
concession block. On December 14, 2010, B2Gold announced
exploratory drill results from their Jabali vein that included
16.86 metres of 23.98 g/t gold starting at a depth of 102.31
metres. The Jabali structure is less than 200 metres from the Santo
Domingo concession border. The Santo Domingo concession encompasses
numerous artisanal mines, where small-scale miners are selectively
exploiting gold-bearing quartz veins to shallow depths.
The high grade gold in quartz veins at Santo Domingo have been
mined for their gold for more than 200 years. Santo Domingo was
first brought to the attention of the West, in Thomas Belt's 1874
book, The Naturalist in Nicaragua. Santo Domingo has long been
known as the heart of the region's mining activities and is
recognized as the first known mining camp in Nicaragua. Mining and
milling methods brought by the Spanish have not changed
significantly in the district. Mining is conducted with picks and
shovels in broken, oxidized vein material to depths generally less
than 40 metres. In 1980, a group of artisanal miners formed a
cooperative and were granted a concession over the known veins at
Santo Domingo. Historically, the area has not seen the application
of modern exploration techniques, nor has it ever been drilled.
Recent geologic mapping by Corazon, conducted at a scale of
1:1,000, has detailed approximately 80% of the concession, and
provides Corazon with a wealth of new information about the
district, and provides a compelling exploration story. The salient
features of this work program include:
-- Delineation of a well defined set of steeply dipping, sub parallel,
east-northeast to east-west trending, epithermal quartz veins. These
veins, some with strike lengths exceeding 3 km, and widths up to 8
metres, have been mapped across the property;
-- The veins are generally hosted by andesitic flows, tuffs, and
pyroclastic units of the mid-Tertiary Matagalpa Formation, however,
detailed mapping has identified a series of rhyolitic to dacitic
intrusives that may have played a important role in the evolution of the
district;
-- Surface veins are generally oxidized and leached to a depth of 70
metres, resulting in 'gossanous' quartz veins containing variable
amounts of iron and manganese oxides, along with native gold; extensive
sampling of 'mill feed' by Corazon personnel has revealed values up to
38.45 g/t Au and 577.90 g/t Ag.
-- Artisanal mining occasionally encounters trace to less than 10% sulfide
minerals in the veins, including: pyrite, sphalerite, chalcopyrite, and
galena. Higher grade gold and silver values in these unoxidized samples
contain from 6.28 to 17.01 g/t Au and 24.7 to 359.5 g/t Ag; and
-- Mapping to date has identified in excess of a cumulative 15 kilometres
in 'major' quartz veins with composite vein widths in excess of 3 metres
- seven of which have strike lengths of 1 km or more.
Following the initial program of geologic mapping and
reconnaissance sampling, an aggressive trenching program was
initiated to expose the veins. Corazon is currently awaiting the
receipt and compilation of all trenching results prior to their
release.
Numerous high-quality drill targets have been defined by the
mapping and sampling program and it is Corazon's intent to
prioritize and test these targets in early 2011. Patrick
Brauckmann, President and CEO of Corazon confirms, "We have
advanced our Santo Domingo project to a drill ready stage and are
thrilled to be the first modern exploration company to evaluate
these highly prospective veins beneath the shallow levels of
historic high-grade mining activity. We are also proud of the
relationship we have established with the local stakeholders and we
believe that our relationship with the community of Santo Domingo
will be mutually beneficial going forward."
Geologic consultant, John C. Spurney, the Qualified Person for
the Santo Domingo project, as defined by National Instrument 43-101
("NI 43-101"), has reviewed and approved the contents of this news
release. Mr. Spurney was unable to verify the information B2Gold
announced on December 14, 2010 and the information regarding the
Jabali vein is not necessarily indicative of the mineralization on
the Santo Domingo property. Quality assurance and quality control
procedures include the systematic insertion of blanks, standards
and duplicates into all soil and rock samples submitted for assay.
All samples are placed in sealed plastic bags and shipped directly
to Inspectorate America's Reno, Nevada laboratory. Rock chip
samples consisting of 2-4 kg of material, are crushed and
pulverized, then analyzed via 30 gram fire assay with AA finish.
Silver, base metals, and trace elements are analyzed as part of a
multi-element ICP package. For further information about the Santo
Domingo project, please see our NI 43-101 compliant report
entitled, "NI 43-101 Technical Report on the Santo Domingo
Concession, Nicaragua", dated October 25, 2010 and authored by Paul
Pelke, California Registered Geologist, which is available on SEDAR
at www.sedar.com.
ON BEHALF OF THE BOARD
CORAZON GOLD CORP.
Patrick Brauckmann, President
Disclaimer for Forward-Looking Statements
Statements in this news release that are not historical facts
are forward-looking statements that are subject to risks and
uncertainties. Words such as "expects", "intends", "plans", "may",
"could", "should", "anticipates", "likely", "believes" and words of
similar import also identify forward-looking statements.
Forward-looking statements in this news release include statements
that: (i) an ongoing trenching and sampling program is expected to
further delineate drill targets for an initial drilling program on
the Santo Domingo property; (ii) that numerous high quality drill
targets have been defined by the mapping and sampling program and
it is the Company's intent to prioritize and test these targets in
early 2011; and (iii) that the Company believes its relationship
with the community of Santo Domingo will be mutually beneficial
going forward. Actual results may differ materially from those
currently anticipated due to a number of factors beyond the
Company's control. These risks and uncertainties include, among
other things: (i) an inability by the Company to undertake or
complete its initial drilling program; (ii) any adverse occurrences
that prevent the Company from prioritizing and testing high quality
drill targets in early 2011; (iii) a breakdown in the relationship
between the Company and the community of Santo Domingo; (iv) a
downturn in economic conditions in Nicaragua or internationally;
(v) the inherent uncertainties and speculative nature associated
with mineral exploration; (vi) any number of events or causes which
may delay exploration and development of the Santo Domingo
property, such as environmental liabilities, weather, mechanical
failures, safety concerns and labour problems; (vii) an inability
by the Company to finance operations and growth; and (viii) other
factors beyond the Company's control. These forward-looking
statements are made as of the date of this news release and, except
as required by applicable laws, the Company assumes no obligation
to update these forward-looking statements, or to update the
reasons why actual results differed from those projected in the
forward-looking statements.
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.
Contacts: Corazon Gold Corp. Patrick Brauckmann President (604)
633-5088
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