InvestorsHub Logo

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Live Updating
profile icon
InvestKid36 Free
02/13/23 9:40 PM
profile icon
TRUSTUNITS1000000 Free
02/04/23 10:19 AM
profile icon
MasterT Free
10/31/14 3:53 AM
profile icon
MasterT Free
10/25/14 1:48 PM
profile icon
MasterT Free
10/25/14 1:36 PM
profile icon
MasterT Free
10/25/14 1:35 PM
profile icon
MasterT Free
10/25/14 1:35 PM
profile icon
MasterT Free
10/25/14 1:34 PM
profile icon
MasterT Free
10/25/14 1:33 PM
profile icon
moneybaby1 Free
09/15/14 5:48 PM
profile icon
MasterT Free
08/28/14 3:09 PM
profile icon
moneybaby1 Free
08/09/14 12:52 AM
profile icon
MasterT Free
02/07/11 3:36 PM
profile icon
MasterT Free
12/30/10 1:28 PM
profile icon
MasterT Free
12/30/10 9:49 AM
profile icon
MasterT Free
12/23/10 11:56 AM
profile icon
MasterT Free
12/22/10 5:08 PM
profile icon
MasterT Free
12/20/10 1:50 PM
profile icon
MWM Free
12/12/10 8:13 PM
profile icon
MasterT Free
11/22/10 2:15 PM
profile icon
MasterT Free
11/17/10 9:21 AM
profile icon
MasterT Free
11/17/10 9:19 AM
profile icon
MasterT Free
11/17/10 9:18 AM
profile icon
MasterT Free
11/17/10 9:17 AM
profile icon
grossmrkup Free
11/05/10 10:38 AM
profile icon
antman Free
01/28/10 2:19 PM
profile icon
MasterT Free
01/28/10 10:13 AM
profile icon
antman Free
01/28/10 1:04 AM
profile icon
MasterT Free
01/27/10 9:10 AM
profile icon
MasterT Free
01/15/10 10:17 AM
profile icon
MasterT Free
01/15/10 10:15 AM
profile icon
MasterT Free
01/15/10 10:14 AM
profile icon
MasterT Free
01/15/10 1:52 AM
profile icon
MasterT Free
01/15/10 1:51 AM
profile icon
MasterT Free
01/15/10 1:50 AM
profile icon
MasterT Free
01/15/10 1:49 AM

Marimaca Mining Corp (MARIF) RSS Feed

Followers
1
Posters
8
Posts (Today)
0
Posts (Total)
38
Created
10/15/09
Type
Free
Moderators

 

 

 

Coro Mining Corp. ("Coro") is a Canadian public Company listed on the TSX (COP-TO). Built by proven mine-finders and developers, Coro is on track to become a mid-tier copper producer. The company is focused in developing the San Jorge copper-gold project located in the province of Mendoza, Argentina. San Jorge is currently in the permitting phase, which is anticipated to be completed by late 2010. Coro is also exploring two copper porphyries projects in Chile, the newly discovered Llancahue project, and Cerro Chacay. In addition, Coro holds a 5.2% equity interest in Valley High Ventures Ltd., which has exploration projects in Mexico and Canada.

To view Minera San Jorge's Introduction Video
(with English subtitles), click here:
http://www.coromining.com/i/misc/SanJorge/index.html

To view Minera San Jorge's website in Spanish, click here:
www.proyectosanjorge.com.ar
 
Mandate
Coro's business strategy is to identify, secure, and develop open pittable copper projects with low capital costs and the potential for a minimum 450 million pounds of contained copper. All properties are located in countries with stable governments and in areas of well-established infrastructure. We look for a minimum eight-year mine life and the potential to generate an ROI of 15% or more. Our ultimate objective is to be a mid-tier copper producer.

Outlook
Coro's primary focus for 2009 is to work with the government and communities of the Province of Mendoza, Argentina to successfully bring the San Jorge project through the permitting process.
Once San Jorge's Environmental Impact Study is approved, Coro will fast track the project through a definitive Feasibility Study and initiate financing project.

Our Team
Coro has assembled a board of directors and management team of proven mine-finders and developers with world-wide experience. This group has been selected particularly for its knowledge of, and association with, Latin American mining.

Our Properties
Coro has the option to purchase the San Jorge Project in the province of Mendoza, Argentina and two other principal mineral properties which are located in Chile.


 
   Robert A. Watts
Chairman and Independent Director

Mr. Watts is a Chartered Accountant with 40 years' experience in the mining industry. He previously held executive positions with major companies including Placer Dome Ltd., Pegasus Gold Corp., Princeton Mining Corp. and Orvana Minerals Corp. Mr. Watts is also Director of Silver Quest Resources Ltd. and Dawson Heights Housing Ltd. Mr. Watts is a Former Director of a number of public mining companies including First Quantum Minerals Ltd. and Apollo Gold Corp. He is Co-founder, Chairman and First President of Orvana Minerals Corp.
  Alan Stephens
President, Chief Executive Officer and Director


A graduate of the Royal School of Mines, Imperial College, University of London, Mr. Stephens has over 31 years of international mining experience. He has lived and worked extensively in Chile, Mexico and Brazil. Before co-founding Coro, Mr. Stephens was Vice-President of Exploration for First Quantum Minerals Ltd., and he spent ten years with Cyprus Amax Minerals Company managing exploration teams in Latin America, Africa, Europe and Asia. He is a Fellow of the Society of Economic Geologists (US) and of the Institute of Materials, Minerals and Mining (UK). Mr. Stephens is also a qualified person for the purposes of NI 43-101.

 
   
  Michael Philpot
Executive Vice-President, Corporate Secretary and Director


Mr. Philpot is a graduate of the University of British Columbia (BSc Geology) and holds an MBA from the City University of Vancouver. He has over 28 years of experience in the mining industry, including four years in Chile. Prior to co-founding Coro, Mr. Philpot held various executive positions with First Quantum Minerals Ltd., including Vice-President of Administration and Corporate Secretary.

 
   
  Alvin Jackson
Independent Director


Mr. Jackson is the former President and COO of Eurozinc Mining Corp. He is currently Chairman and CEO of Red Dragon Resources Corp. During Mr. Jackson's 35-year geological career, he has been directly involved with the exploration, and development of two major gold deposits and one porphyry copper deposit, all of which subsequently became producing mines.

 
   
  Rod Webster
Independent Director


Mr. Webster has more than 30 years' experience in the resources industry, including more than 10 years in executive positions. Mr. Webster is a Fellow of both the Australian Institute of Mining and Metallurgy and the Australian Institute of Company Directors, and he is currently Chief Executive Officer of Weatherly International PLC. Prior to that role, he was a senior executive of First Quantum Minerals Ltd., responsible for the development of the Kansanshi mine in Zambia. Mr. Webster was also the founding Director and Chief Executive Officer of Western Metals Ltd.

 
   
  Gordon J. Fretwell
Non-Executive Director


Mr. Fretwell graduated from University of British Columbia in 1979 with his Bachelor of Laws degree. Since that time, Mr. Fretwell has been a practicing solicitor in the City of Vancouver and over the last 20 years primarily in areas of resources and securities law. In addition, Mr. Fretwell is a Director or Officer of various publicly traded companies including Northern Dynasty Minerals Ltd., International Royalty Corporation, Keegan Resources Inc., Continental Minerals Corporation and Benton Resourcces Corp.

 

San Jorge, Argentina (acquiring 100%)

 


click to view enlarged
 

click to view enlarged
 

click to view enlarged

Located in west-central Argentina in the Province of Mendoza, the large (115,000 ha) San Jorge property lies approximately 45 km north of the town of Uspallata and 250 km northeast of Santiago, Chile.

San Jorge hosts a medium sized copper gold porphyry deposit. The Company has completed a Pre-Feasibility Study (PFS) on the leachable copper resources and a Preliminary Economic Assessment (PEA) on the flotable copper resources.

In Q308, the Company filed the Environmental Impact Study ("EIS") for its San Jorge copper-gold project, which was formally accepted to enter the evaluation process by the Secretary of the Environment of the Government of Mendoza.

Underlying Option Agreement

Coro has an Option to purchase 100% of San Jorge from Lumina Copper by making further staged payments of $15.15 mm on or before May 2013. Upon commercial production, Coro pays Lumina USD$0.02 per paid copper minable proven and probable copper reserves as defined in a bank feasibility study, less the total cash payments. Lumina will also receive a 1.5% NSR in all products produced other than copper.

Geology and Mineralization

San Jorge is a Permian age granodiorite porphyry stock with associated contact and hydrothermal breccias intruded into Paleozoic sandstones and shales. Strong silicification and quartz stockworking has developed in the sediments and porphyry.

The sequence of rocks has been fractured by strong NNE oriented structural controls. Best grades of copper and gold mineralization coincide with tourmaline brecciation. The porphyry shows a vertical zonation from hypogene mineralization at depth, passing upwards into a supergene enriched zone, which is overlain by a zone of oxide mineralization and finally into a thin, poorly developed leach cap.




Resources (0.30% Cutoff)


Engineering Studies

The Company has completed two engineering studies to NI 43-101 Technical Report Standards; a) a Leach Only Copper Project yielding 25,000tpy copper cathode for 10 years, by Ausenco Canda Inc. and b) a Float Only Copper/Gold Project yielding an average 39,500mtpy of copper and 39,000ozpy of gold contained in concentrates for 16 years by GRD Minproc. Both these reports will be filed on SEDAR.

In June 2007, legislation was passed banning the use of toxic chemicals including sulphuric acid in mining activities, which has meant the Leach Only project is not possible at this time and within the Float Only project has considered the oxide material is considered waste and stockpiled separately.

The highlights from these reports are outlined in the table below:
 

San Jorge Technical Reports Summary Float Only Case Leach Only Case
Base case (10%):
($1.65/lb Copper and $600/oz gold)

Pre-tax NPV
Pre-tax IRR
After-tax NPV
After-tax IRR

$291 million
31%
$82 million
18%

$159 million
28%
$77 million
20%

Upside case (10%):
($2.00/lb Copper and $600/oz gold)

After-tax NPV
After-tax IRR

$220 million
29%

$139 million
28%

Average cash operating costs:
(years 1 to 5) ($/lb)

Before credits
Credits
After credits

$0.91
$0.22
$0.69

$0.90
$0.35
$0.55

Total production:

Copper
(tonnes)
Gold (ounces)

632,000
629,000

223,363
n/a

Average production:
(years 1 to 5)

Copper
(tonnes)
Gold
(ounces)

51,000
42,000

24,000
n/a

Mine life:

Years

16

10

Initial capital costs:

$ million

$277

$162

Prepared by:

 

GRD MINPROC

AUSENCO

Report type:

 

Preliminary Economic Assessment

Preliminary Feasibility
Standard

Date:

 

April 22, 2008

April 3, 2008



Environmental 

Environment concerns and issues are of highest priority to the Company. The Company appreciates that the development of San Jorge should have no to minimal environmental impact to the land, water and agriculture of the Province of Mendoza and communities within the province. The Company's mandate is to utilize modern mining practices while adhering to strict global standards.
San Jorge is located within a 120,000 hectares ranch controlled by the Company. The nearest community is Uspallata, which is located 45km to the south. There are no competing agricultural interests in the area and no competition for water resources, which rise and fall into a subterrain basin with the Company's property. There is sufficient water supply for the proposed mining operation with anticipated consumption of 140 litres per second or the same amount of water consumed by a typical vineyard with drip irrigation of a 140 hectares size.



EIS Approval Process

The San Jorge EIS'approval process has a number of steps, the first of which is a technical evaluation of the EIS by a local university on behalf of the government which is expected to be obtained in Q3-09. This will be followed by a ministerial project review, public consultation and a formal public meeting anticipated to be completed and ratified by Parliament in Q4-09 or soon thereafter.

In May 2009, the Company filed on SEDAR its Technical Report; for further information please see this link http://www.coromining.com/i/pdf/0905SanJorge34-101techrepFinal.pdf.

On September 10, 2009, the company announced the completion of the evaluation of the San Jorge project environment impact study - please see the link to the report http://www.coromining.com/i/pdf/0909DictamenTecnicovFinal.pdf.


What's Next?
 

Enlarge


• To advance the San Jorge Float Only copper gold project through the permitting process



Related Releases

February 07, 2011  Coro Announces Approval of San Jorge Project Environmental Impact Study
December 30, 2010  Coro Announces Favourable Conclusions of Environmental Commission for Development of San Jorge
October 28, 2010  Coro Announces Completion Of San Jorge Project Public Hearing
September 27, 2010  Coro Announces Official Date for San Jorge Project Public Hearing
September 09, 2010  Coro Announces Positive Conclusions From Hydrological Studies At San Jorge Project
July 26, 2010  Coro Announces San Jorge Environmental Impact Study Public Hearing Date Set For October 20, 2010
June 07, 2010  Coro Makes US$2 Million Payment On San Jorge
May 07, 2010  Coro Provides Update On San Jorge Project And Announces Acquisiton Of Celeste Project
April 13, 2010  Coro Provides Update on San Jorge Project
February 24, 2010  Coro Announces Completion of San Jorge Sectoral Review & Appointment of VP, Project Development
September 10, 2009  Coro Announces Positive Conclusions From Independent Review Of San Jorge Project By Mendoza University
July 30, 2009  Coro Announces Management Changes and Provides Update on San Jorge Project
October 20, 2008  Coro Files Environmental Impact Study for San Jorge Copper-Gold Project In Argentina - NR 08-24
April 22, 2008  Coro Announces Conclusions From NI 43-101 Technical Report On San Jorge Float Only Copper Gold Project Preliminary Economic Assessment - NR 08-09
April 03, 2008  Coro Announces Highlights From San Jorge Leach Only Copper Project Ni 43-101 Technical Report - NR 08-08
February 14, 2008  Coro To Conduct Independent Preliminary Economic Assessment On 35-50,000 Tpy Copper In Concentrate Production From San Jorge - NR 08-03
January 16, 2008  San Jorge New Resource Estimate and Project Update - NR 08-01
October 29, 2007  San Jorge Drill Results And Project Update - NR 07-10
July 23, 2007  Minera San Jorge files an action to challenge the constitutionality of recently passed Mendoza Provincial Act - NR 07-05
June 21, 2007  Recent Developments In Argentina - NR 07-02

In May 2009, the Company filed on SEDAR its Technical Report; for further information please see this link http://www.coromining.com/i/pdf/0905SanJorge34-101techrepFinal.pdf.

Share Capitalization as at June 30, 2010


Shares Outstanding 104,196,863
Options Outstanding 6,320,400
Warrants Outstanding 36,123,181

 

 

 

Volume:
Day Range:
Last Trade Time:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
MARIF Latest News
  • No Recent News Available for this company!
New Post