Coro Mining Corporation announced that its Chilean subsidiary, Minera Cielo Azul Limited has completed a 4 hole 1,024 meters reverse circulation drilling program at its 100% owned Chacay porphyry copper property, located 12 kilometers southeast of Teck Resources Limited's Relincho copper project and 50 kilometers east of the city of Vallenar in the III Region of Chile.
The Chacay property hosts a porphyry copper prospect of probable Paleogene age that has previously been drill tested by several companies. The drillhole locations and summary geological information are available for some of the previous drilling but it has not been possible to obtain the corresponding assay information.
A zoned porphyry alteration suite of external propylitic alteration surrounding a quartz sericite core is developed over a distance of 3,500 meters oriented west northwest. A strongly developed sulphide stock work coincident with an intensely phyllic altered quartz feldspar porphyry, occurs over an area of 1,000 meter x 1,000 meter centred on Cerro Chacay. This hill has an elevation difference of 300 meters over the surrounding valleys and hosts a leached cap, which drilling has shown to vary from 50 meters to 200 meters in thickness. Underlying the leached cap, a partially oxidized, flat lying, chalcocite enrichment blanket has been intersected in drilling, that is currently interpreted to be between 20 meters and 110 meters thick.
Three of the 4 widely spaced holes, CHCRC08-10, intersected the secondary enrichment blanket as anticipated with the following grades;
| Hole | From | To | m | CuT | CuS | CuCN | Solubility |
| CHCRC09 | 236 | 324 | 88 | 0.47% | 0.09% | 0.35% | 95% |
| including | 246 | 290 | 44 | 0.57% | 0.10% | 0.43% | 98% |
| CHCRC08 | 160 | 208 | 48 | 0.20% | 0.06% | 0.12% | 93% |
| CHCRC10 | 138 | 194 | 56 | 0.15% | 0.05% | 0.09% | 91% |
The intersection in CHCRC09 is comparable to previously drilled hole CHCRC06 which intersected 78 meters at 0.44%CuT.
CHCRC09 intersected disseminated chalcocite, while holes CHCRC08 and CHCRC10 intersected chalcocite developed as a thin coating on disseminated pyrite. The fourth hole, CHCRC11, which was drilled to test a prominent silicified rib near the southeast edge of the alteration zone, passed through a silicified and strongly pyritic zone with no secondary copper development. All holes were all drilled at 60 degrees inclination, so the intersect thicknesses do not represent true thicknesses.
Mr Alan Stephens president and CEO of Coro said that "The results of this short drilling program continue to demonstrate the potential for heap leachable copper mineralization in a partially oxidized chalcocite enrichment blanket at Chacay. We now intend to complete detailed structural and leached cap mapping and rock chip sampling over the core of the Chacay system with a view to defining the distribution of original primary and secondary copper minerals. Based on the outcome of this, a second round of drilling will then be planned."
