Corazon Reports Positive Drill Results at Santo Domingo, Nicaragua; Mobilizes Second Drilling Rig to Site
02 Giugno 2011 - 3:47PM
Marketwired
Corazon Gold Corp. ("Corazon" or the "Company") (TSX VENTURE: CGW)
is pleased to present encouraging results from the first 13 holes
in its Phase 1 drilling at the Santo Domingo gold property in
central Nicaragua. The 6.5 km(2) Santo Domingo concession is
located approximately 200 km east of the capital city of Managua
and wholly within B2Gold's La Libertad property, which contains the
La Libertad mine and exciting Jabali vein discovery. Veins at
Corazon's Santo Domingo project have been mined by local miners for
hundreds of years but had never been mapped, drilled or explored by
modern techniques. Since starting field work in 2010, Corazon has
mapped fifteen kilometers of parallel veins at Santo Domingo. The
Santo Domingo concession is only 200 metres north of B2Gold Corp.'s
recent Jabali Vein discovery (522,000 ounces of gold at 4.58
g/t)(i) announced March 31, 2011. The historic La Libertad-Santo
Domingo mining district is considered the heart of Nicaragua's gold
exploration and mining heritage. Corazon's maiden drill program has
confirmed that vein mineralization continues at depth in all five
veins tested to date on the Santo Domingo project. A map of the
current drill holes is available at
http://www.corazongold.com/section.asp?pageid=16752.
Corazon President, Patrick Brauckmann commented on the results,
"Corazon is pleased that initial results at Santo Domingo point to
widespread mineralization in the structures tested. Encountering
ore grade values over minable widths in holes 1, 6, and 13 is a
significant development. Additional drill holes will be required to
adequately evaluate our property's potential. When compared to the
early testing of other epithermal vein systems, the results clearly
indicate that further exploration is warranted. We are mobilizing a
second drill rig immediately as numerous veins or structures remain
untested. The "bonanza" grades encountered in B2Gold's nearby
Jabali vein occurred more than 150 metres down-hole and therefore
our Phase 2 drilling program will include holes to depths below 100
metres from surface."
Initial geologic mapping, trenching, and rock chip sampling at
Santo Domingo in 2010, delineated at least 7 principal veins and
more than 15 subsidiary veins for a cumulative 15 kilometres of
strike. Surface sampling returned assays up to 31.82 g/t Au across
2.2 metres (see Feb. 7th news release). In February of this year, a
scout-drilling program commenced to selectively test some of the
many targets over the concession. To date, 18 core holes have been
drilled for a total of 2,321 metres and several additional holes
are proposed as part of Phase 1. The Company awaits assay results
for holes 14 to 18. As no previous drill data exists for Santo
Domingo, this reconnaissance drill program has been designed to
develop an initial understanding of the vein systems within 30 to
100 meters from the surface, using target criteria including:
surface grades, continuity of the structure, vein widths, and
textures. At least 14 kilometres of surface strike remain to be
tested as part of future drill programs. A summary of the
significant intercepts is presented in Table 1.
Table 1. Significant Drill Hole Intercepts
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Intercept
------------------ Interval Width
Hole No. Vein From To (ii) Gold (g/t)
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SD01-11 El Tigre 30.40 36.50 6.10 3.60
---------------------------------------------------------------------------
Incl. 34.40 36.50 2.10 6.57
---------------------------------------------------------------------------
Incl. 36.00 36.50 0.50 10.96
---------------------------------------------------------------------------
SD04-11 El Tigre 82.20 83.00 0.80 6.27
---------------------------------------------------------------------------
SD05-11 Amparo 37.75 38.90 1.15 1.82
---------------------------------------------------------------------------
SD06-11 Amparo 68.75 70.50 1.75 4.71
---------------------------------------------------------------------------
SD09-11 Las Nubes 130.40 130.55 0.15 7.24
---------------------------------------------------------------------------
SD10-11 San Gregorio 42.80 44.40 Encountered Mine Stopes
---------------------------------------------------------------------------
44.40 45.10 0.70 2.49
---------------------------------------------------------------------------
56.60 57.20 0.60 3.67
---------------------------------------------------------------------------
SD11-11 San Gregorio 80.70 84.60 Encountered Mine Stopes
---------------------------------------------------------------------------
SD12-11 San Gregorio 108.00 111.60 Encountered Mine Stopes
---------------------------------------------------------------------------
113.70 114.70 1.00 4.15
---------------------------------------------------------------------------
SD13-11 San Sebastian 72.20 75.70 3.50 3.06
---------------------------------------------------------------------------
Incl. 72.20 73.30 1.10 6.11
---------------------------------------------------------------------------
(ii) Note: Interval widths are drilled not actual.
Preliminary drilling analysis reveals that the veins are
dominated by breccia textures containing angular fragments of the
andesitic host rocks enclosed in a quartz-chalcedony matrix.
Colloform banded, vuggy, comb-textured, and amethystine quartz are
noted locally. The vein structures are variably oxidized to the
depths explored. Sulfides are present locally, including pyrite,
sphalerite, galena and chalcopyrite, yet combined copper-lead-zinc
values are generally low, less than one percent. Vein widths of up
to 8 metres were intercepted by the drilling, and assay results
indicate that only portions of the structure contain strongly
elevated gold. Broader zones of quartz stockwork, intersected in
some of the shallow drill holes, may coalesce at depth into a
high-grade coherent feeder structure.
John C. Spurney, M.Sc. Geology is 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. Quality assurance and quality control procedures include
the systematic insertion of blanks, standards and duplicates into
all core samples submitted for assay. All samples were bagged and
sealed on-site, then securely stored temporarily at Corazon's field
office in Santo Domingo prior to transport by company personnel to
Inspectorate Exploration & Mining Services Ltd.'s preparation
facility in Managua, Nicaragua. From Managua, they were sent via
airfreight to Inspectorate's assay laboratory in Richmond, BC,
Canada. Samples are 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 labor 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.
(i)Note: On March 31, 2011, B2 Gold Corp. announced in a news
release that 55 diamond drill holes had been drilled at the Jabali
Zone approximately 10 kilometres east of the La Libertad mine for
an inferred resource of 3.55 million tonnes at 4.58 grams per tonne
of gold containing 522,000 ounces of gold.
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 pb@corazongold.com
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