Corazon Provides Update on Drilling Program and Grants Options
02 Marzo 2011 - 4:22PM
Marketwired
Corazon Gold Corp. ("Corazon" or the "Company") (TSX VENTURE: CGW)
is pleased to provide an update on the current 3,000 metre drilling
program at the Santo Domingo Project in central Nicaragua, located
10 kilometres east of B2 Gold's La Libertad mine, Nicaragua's
largest open pit mine.
In the past three weeks, Corazon has completed a total of 5
holes for an aggregate of 622 metres. The Company is currently
testing both the El Tigre and Amparo zones. Trenching work at Santo
Domingo in the fall of 2010 demonstrated that quartz veins, with
more than 15 kilometres of cumulative strike are found on the
property. Samples are being prepared by Inspectorate at their
Managua, Nicaragua laboratory. Inspectorate is an ISO 9001
accredited laboratory with their assay laboratory located in
Richmond, BC. Assay results are expected in the coming weeks.
To see a surface map of Santo Domingo, please click here:
http://corazongold.com/upload/satmap.jpg)
While Santo Domingo has had a rich history in mining, until now,
the Santo Domingo property has never been drill tested. Locals have
been mining high-grade ore from the property for generations and
have established Santo Domingo as the heart of Nicaragua's mining
activities.
Corazon also wishes to announce that the Company has granted an
aggregate of 2,100,000 stock options to directors, officers and
employees of the Company, subject to TSX approval. All of the
options have a five year expiry term, will fully vest over an
18-month period and have an exercise price of $.75 per share.
About Corazon
Corazon is a Canadian-based mineral exploration company with its
focus on exploration of the 650-hectare Santo Domingo property in
central Nicaragua. The Santo Domingo property is located 125
kilometres northeast of the capital city of Managua, Nicaragua, and
10 kilometres east of B2Gold Corp.'s La Libertad Mine. Corazon's
property is entirely surrounded by B2Gold's concession block and
has long been recognized as the original gold discovery in
Nicaragua. The Santo Domingo - La Libertad area is a mining
friendly jurisdiction, with B2Gold Corp. operating the largest mine
(open pit) in the country at La Libertad. Until Corazon initiated
work last year, no modern exploration work has been completed on
the Santo Domingo property.
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)
609-6160
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