Coro Mining Corp.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Coro Mining Corp. was founded with the goal of building a mining company focused on base and precious metals deposits in South America. Coro intends to achieve this goal through the exploration for, and acquisition of, projects that can be developed and placed into production.

The Company controls the advanced San Jorge copper gold project in Argentina which is in the permitting phase, as well as additional exploration properties located in Chile.

PROJECT IN HAND

(1) San Jorge Copper-Gold Project, Argentina 

The Company is acquiring a 100% interest in the San Jorge project through an option agreement. San Jorge is a medium sized advanced copper-gold porphyry development project located in the Mendoza Province, west-central Argentina and is 45 km north of the town of Uspallata and 250 km northeast of Santiago, Chile. There is adequate water available on the property. The Company is proceeding with a floatation-only project.

GRD Minproc (June 2008) completed an Independent Preliminary Economic Assessment ("PEA") for 39,500 tonnes of copper plus 39,000 ounces of gold, in concentrates per year for the enriched and primary mineral resources. The project has a projected life of 16 years with the oxides being stockpiled for future treatment by heap leaching.

Life of mine copper production is 1.4 billion pounds of copper and 629,000 ounces gold. The PEA returned and after tax 17.7% IRR at $1.65/lb copper and $600/oz gold, with net cash costs during the first five years of operation of $0.69/lb copper. Initial capital cost is estimated at $277 million.

The mineral resources are well defined, however the primary resource remains open to both the west and at depth.

The Company's primary focus this year is on community relations in the local Las Heras district and in the province of Mendoza.

San Jorge Resource Summary

Mineral Resources for Enriched and Sulphide Domains - In Pit Resources defined by $1.50/lb Cu economic envelope

Mineral Resources for Oxide Domain - In Pit Resources defined by $1.50/lb Cu economic envelope

San Jorge Measured and Indicated Resources, at 0.30% CuT cut off, all categories:
- 2,050,979 ,000 lbs Cu & 1,257,000 oz Au

Work Program 2009

• Obtain approval of Environmental Impact Study (EIS) 

• PR and Community relations programs underway

• Assuming no technical issues, approval of EIS anticipated in Q3-2009

• Conduct district exploration program

• Once EIS approved, project will be taken through to feasibility study completion in 2010

(2) Talca Belt Gold-Copper Project, Chile

The Company has staked 42,300 hectares in south-central Chile (the "Talca" Properties), near the town of Talca. The Company has entered into an agreement with Freeport-McMoRan Exploration Corp. ("Freeport") whereby they will undertake an exploration program to earn up to a 70% interest in the various Talca properties. Freeport has commenced drilling one of these prospects, Llancahue.

Project highlights:

• Under-explored extension of Upper Cretaceous / Lower Tertiary porphyry copper and epithermal gold belt

• Llancahue prospect: a poorly exposed hydrothermal breccias with abundant chalcopyrite and intense potassic alteration. Freeport to complete 2,000 m of reverse circulation drilling before July 18, 2009

• Initiated recon program for epithermal gold mineralization. Both high and low sulphidation types have been recognised in the belt

• Staked Pocillas epithermal gold prospect. Mapping, sampling and IP planned to define drill targets (not part of Freeport agreement)

• Trenching by previous owners included 13 m at 2.95 g/t Au, 21 m at 0.62 g/t Au and 33 m at 0.50 g/t Au

(3) Cerro Chacay Copper Project, Chile

The Company owns 100%, subject to a 2% Net Profit Interest to First Quantum Minerals Ltd. (FQM), of the Cerro Chacay copper deposit which is located 12 km southeast of Teck Cominco's Relincho copper / molybdenum property.

Project highlights:

• Staked by FQM in 2004

• Eocene porphyry copper deposit, located 12 km SE of Teck's Relincho project.

• Relincho has an indicated sulphide resource of 498 million tonnes at 0.47% Cu and 0.023% Mo and an Indicated oxide resource of 56 million tonnes at 0.41% Cu.

• Cerro Chacay was previously drilled by BHPB, Anglo American and First Quantum, all seeking a stand-alone multi-hundred million tonne copper porphyry deposit.

• Drill results by FQM are available to Coro and confirm the potential for a 50-100 m thick partially oxidized enrichment blanket overlying a deeper seated porphyry.

MANAGEMENT

Officers & Directors

Coro's senior management and Board of Directors have a proven track record in exploration, development, operation, financing and building successful companies. Coro's management team has significant mining experience in Latin America. Management has developed strong relationships with local communities and mining industry. 

Alan J. Stephens, President, Chief Executive Officer and Director
· Has over 31 years of international mining experience including Latin America
· Former VP of Exploration of First Quantum Minerals Ltd.

Michael D. Philpot, Executive Vice President, Corporate Secretary and Director
· Has over 28 years of experience in the mining industry, including 4 years in Chile
· Former Executive VP of Administration of First Quantum Minerals Ltd.

Juan Carlos Roman, Senior Vice President and Chief Operating Officer
· Has over 25 years of experience in Chile and over 28 years of industry and finance experience
· Former VP of Mining Management of Antofagasta Minerals S.A. in Chile

Damian J. Towns, Chief Financial Officer
· Has over 10 years of experience in accounting and finance. For the past 6 years, his work has focused on the mining industry.
· Former Controller of First Quantum Minerals Ltd.

Angelo Peri, Vice President of Exploration
· Has over 20 years of mining experience in Chile and Peru
· Former Exploration Manager, Chile and Peru, of Phelps Dodge

Robert A. Watts, Chairman, Independent Director
· Has 40 years of experience in the mining industry
· Former VP of Finance of Placer Dome Ltd.

R. Stuart (Tookie) Angus, Independent Director
· Has 30 years experience in the mining industry
· Former Head of Global Mining Group of Fasken Martineau DuMoulin LLP

Alvin W. Jackson, Independent Director
· Has 35 years experience in the mining industry
· Former President & Chief Operating Officer of Eurozinc Mining Corp.
· Currently Chairman & CEO of Red Dragon Resources Corp.

Rod J. Webster, Independent Director
· Has 30 years experience in the mining industry
· Currently CEO of Weatherly International Plc.

NEWS UPDATE

On May 28, 2009, Coro Mining Corp. announced that Freeport-McMoRan Exploration Corporation ("Freeport") has completed a 7 hole, 1,300 m reverse circulation drill program at Coro's Llancahue prospect, located in Chile, as required under the terms of the Talca Belt exploration agreement. Drilling at Llancahue has intersected a significant zone of good grade copper mineralization.

One of these holes, LLA-07 intersected 100 m at 1.375% copper + 0.015% molybdenum + 3.8 g/t silver.

Disclaimer

Copyright (c) 2000 - 2009 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印