Corazon Announces Encouraging Initial Trench Results from Santo Domingo Project in Nicaragua
07 2월 2011 - 10:00PM
Marketwired Canada
Corazon Gold Corp. ("Corazon" or the "Company") (TSX VENTURE:CGW) is pleased to
announce results from the first phase of trenching at the Santo Domingo project
in central Nicaragua, located 10 kilometres east of B2Gold's La Libertad mine.
Corazon's trenching has confirmed the presence of up to 7 principle epithermal
veins, each exceeding 1 kilometre in strike length, and an additional 15
subsidiary veins, each with strike lengths less than 1 kilometre. Trenching
confirms the continuity of gold to shallow depth along the system of braided and
branching veins, mapped at surface to comprise more than 15 kilometres of
cumulative strike length. Several of the trenches yielded very encouraging
results including: 2.2 metres of 31.82 g/t Au; 5.6 metres of 8.1 g/t Au; 9.1
metres of 5.15 g/t Au; and 16.8 metres of 1.03 g/t Au (see Table 1 below).
During Corazon's 1:1000-scale mapping of approximately 80% of the Santo Domingo
project in mid-late 2010, significant portions of the Santo Domingo veins were
found to be obscured by vegetation and a thick weathering profile. Gold systems
in tropical climates often develop a thick weathering profile (saprolilte),
which can yield chemically altered rock to depths of up to tens of meters from
surface. In these saprolite zones, vein sulfides are oxidized resulting in
remobilization of precious and base metals. Corazon initiated the trenching
program to complement the surface mapping and provide an additional dimension to
the vein exposures. The trenches were scattered broadly over the concession with
the goal to identify those veins, or portions thereof, showing significant gold
mineralization. While Corazon's trenches may or may not be representative of
mineralization tenors at depth in unweathered rock, they do confirm that the
Santo Domingo veins are well mineralized over a significant area and provide
encouragement to investigate the veins at depth through drilling.
In summary, a total of 80 trenches for 895 meters of trenching have been
completed in this first phase with 390 chip and channel samples collected.
Although not all of the trenches encountered vein, nearly 60% (46/80) returned
assay values in excess of 1 g/t Au. A summary of the highlights of the results
are presented in Table 1.
To see a surface map of Santo Domingo with veins and trenches, please click
here: http://www.corazongoldcorp.com/upload/pdf/SDVeinMap.pdf
Table 1:Highlights of the Results from Corazon's 2010 Santo Domingo
Trenching Program.
------------------------------------- --------------------------------------
Significant Significant
Trench Results Trench Results
No. Vein/Area (g/t Au) No. Vein/Area (g/t Au)
------------------------------------- --------------------------------------
Sto.
9 Amparo 9m @ 2.24 g/t 27 Domingo 2.6m @ 2.86 g/t
------------------------------------- --------------------------------------
Sto.
2 El Tigre 1.0m @ 12.88 g/t 29 Domingo 1.7m @ 6.24 g/t
------------------------------------- --------------------------------------
Sto.
10 El Tigre 2.8m @ 2.44 g/t 34 Domingo 1.4m @ 3.29 g/t
------------------------------------- --------------------------------------
Sto.
12 Domingo 8.0m @ 1.95 g/t 41 El Carmen 5.6m @ 1.99 g/t
------------------------------------- --------------------------------------
Sto.
19 Domingo 15.6m @ 0.93 g/t El Mono El Carmen 3.2m @ 2.38 g/t
------------------------------------- --------------------------------------
Sto.
20 Domingo 3.3m @ 3.96 g/t 46 Las Nubes 9.1m @ 5.15 g/t
------------------------------------- --------------------------------------
Sto.
21 Domingo 7.1 m @ 5.47 g/t 50 Las Nubes 5.6m @ 8.15 g/t
------------------------------------- --------------------------------------
Sto.
25 Domingo 4.2m @ 1.72 g/t 51 Las Nubes 16.8m @ 1.03 g/t
------------------------------------- --------------------------------------
Sto.
27 Domingo 2.6m @ 2.86 g/t 53 Las Nubes 3.4m @ 1.08 g/t
------------------------------------- --------------------------------------
Sto.
29 Domingo 1.7m @ 6.24 g/t 61 Pena Blanca 2.4m @ 2.14 g/t
------------------------------------- --------------------------------------
Sto.
19 Domingo 15.6m @ 0.93 g/t 65 Pena Blanca 3.0m @ 2.08 g/t
------------------------------------- --------------------------------------
Sto. Sto.
20 Domingo 3.3m @ 3.96 g/t Chocoyo Domingo 1.6m @ 5.03 g/t
------------------------------------- --------------------------------------
Sto. San
21 Domingo 7.1 m @ 5.47 g/t Flaca Sebastian 9.6m @ 1.20 g/t
------------------------------------- --------------------------------------
Sto. El Dulce
25 Domingo 4.2m @ 1.72 g/t Cangrejo Nombre 2.2m @ 31.82 g/t
------------------------------------- --------------------------------------
Veins sampled in this program consist of massive to colloform banded to
brecciated quartz and amethyst with trace to abundant iron and manganese oxides.
Sulfides were not observed in trench exposures but were documented in three
artisanal dumps. The presence of sulfides in the deeper artisanal workings
suggests that the gossanous near-surface veins at Santo Domingo could contain
sulfides within 30 to 50 meters from the surface. 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. Continued compilation and analysis of the mapping and trench data is
ongoing.
Summary conclusions of the mapping and trench data indicate:
-- Significant gold values have been observed over a large area
encompassing the concession, and both vein and gold continuity are
supported;
-- Vein exposures in the trenches range from distinct quartz veins up to
several meters in width to broad zones of sheeted (parallel) quartz
veinlets with composite widths up to 50 meters in andesitic host rocks;
-- The vein zones generally strike east-west, and dip steeply to the north
or south, at angles greater than 60 degrees; and
-- Vein textures at Santo Domingo are typical of 'intermediate sulfidation'
epithermal systems with multiple stages of quartz-adularia veining,
local colloform-banding and in-situ brecciation.
Geologic consultant, John C. Spurney, M.Sc. 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 soil and rock samples submitted for assay. All
of the trenches were mapped and sampled by Corazon's geologic staff. The
samples, either channel or chip, 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 Managua. From Managua, they were sent via air freight to
Inspectorate in Guatemala City, Guatemala, for processing, and then all samples
are shipped directly by air freight 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.
Corazon Gold Corp. (TSXV:CGW)
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Corazon Gold Corp. (TSXV:CGW)
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