LQwD FinTech Corp (LQWDF)

[Gold3000]

Coronado drills 45 feet of 25.44 g/t Au at Madison


2009-11-17 12:13 ET - News Release

Mr. Eugene Larabie reports

CORONADO INTERSECTS 45 FEET OF .741 OZ/TON GOLD IN UNDERGROUND EXPANSION DRILLING ON ITS WHOLLY OWNED MADISON GOLD/COPPER PROPERTY IN MONTANA, USA

Coronado Resources Ltd. is continuing with the underground drill program on its wholly owned Madison gold/copper property near Butte, Mont. The results from the recent drillholes, 09-U3 and 09-U4, confirm downward extension of the high-grade gold system beyond the current underground workings at level 500. Hole 09-U3 was drilled on the same bearing as hole 09-U2 directly below at negative 60 degrees and intercepted 45 feet of 0.741 ounce per ton gold (25.44 grams per tonne) while hole 09-04 was drilled 20 degrees to the north of 09-U2 at negative 30 degrees and intercepted 25 feet of 0.588 ounce per ton gold (20.16 grams per tonne).

2009 MADISON DRILL SUMMARY

From To Interval Au Ag Cu
Drill hole (feet) (feet) (feet) oz/t oz/t %

09-U1 12.50 42.50 30.00 0.313 Previously reported
09-U1 incl. 12.50 27.50 15.00 0.528 Previously reported
09-U2 22.00 58.00 36.00 0.4685 1.580 1.960 Previously reported
09-U2 incl. 26.50 44.00 17.50 0.607 0.968 1.079 Previously reported
09-U3 25.00 70.00 45.00 0.741 1.204 1.088
09-U4 48.00 73.00 25.00 0.588 3.897 5.721

The drill program is designed to expand the gold zones immediately below the current underground workings at level 500, all holes were drilled from drill station No. 1. This level previously encountered gold mineralization over 100 feet long, up to 20 feet wide and extended upward for 30 feet, which yielded 2,327 tons of 0.57 ounce per ton gold. Underground diamond drilling continues and results will be published as they are made available.

Assay work was completed by Norris Labs, a local Montana lab using the dry assay method. Norris Labs is not registered by the international standards organization and is used due to proximity and quick turnaround results. Eugene Larabie, PEng, is the qualified person overseeing the project.

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