Dorato Resources Inc. (TSX VENTURE: DRI)(OTCQX: DRIFF)(FRANKFURT:
DO5) ("Dorato" or the "Company") is pleased to announce that it has
received additional results from Minera Afrodita's drilling at the
Lucero target in the Cordillera del Condor Project, northern Peru.
Drilling of surface mineralization continues to intersect
consistent gold-copper mineralization to the west of the target and
remains open. Highlights include drillhole LUC-021, which
intersected 1.26 g/t gold and 0.63% copper from surface to 28.0
metres (Figures 1 and 2). Dorato has a right to acquire 100% of
Minera Afrodita.
The Company also announces that a total of 4,843,940 common
share purchase warrants have been exercised for net proceeds of
$3.44 million. Exercised warrants comprise 4,114,500 common share
purchase warrants priced at $0.65 and 729,440 common share purchase
warrants priced at $1.05. Shareholders who exercised warrants
include Franco-Nevada Corporation, which exercised 1 million common
share purchase warrants, 100% of their warrant position.
"I am delighted that a multi-national gold royalty company like
Franco-Nevada, who have been significant Dorato shareholders since
2008, continue to show considerable belief if the project," stated
Keith Henderson, Dorato's President and CEO. "Franco's continued
involvement represents a real vote of confidence in the
prospectivity of targets like Lucero and Cobrecon, as well as the
numerous other targets currently being evaluated in the belt."
LUCERO DRILLING
Drilling at Lucero is targeting gold and copper-gold
mineralization hosted in skarn, sediments and instrusions (Figure
4). Results have been received for drillholes LUC-019, -020 and
-021 and are outlined below.
Skarn Mineralization - Drillholes LUC-020 and -021 tested
near-surface skarn mineralization. Drillhole LUC-021 intersected
1.26 g/t gold and 0.63% copper from surface to 28.0 metres (Figures
1 and 2). Drillhole LUC-020 intersected 0.44 g/t gold and 0.45%
copper from surface to 28.2 metres depth (Figures 1 and 3). The
skarn mineralization is outcropping at surface and has been subject
to post-mineral erosion, such that the skarn thickness varies from
10 metres to 150 metres depending on topography (Figure 4). In the
area where drillholes LUC-020 and -021 were collared, outcropping
skarn-hosted mineralization has been eroded, preserving
approximately 30 metres of mineralization. In drillhole LUC-008,
previously announced, a thicker section of 60 metres returned 0.88
g/t gold and 0.53% copper (News Release NR11-01). Results are
pending for drillholes LUC-022 and -023, which tested the thickness
and continuity of mineralization as drilling continues to move
westward.
Porphyry Copper-Gold Mineralization - Drillhole LUC-019 is the
first drillhole testing for copper-gold porphyry mineralization at
depth, collaring at the southern extent of the drilled area (Figure
1). The drillhole intersected 400 hundred metres of
potassic-altered granodiorite, which contained trace amounts of
fine disseminated copper mineralization (chalcopyrite) throughout.
No potentially economic grades were intersected but the alteration
and consistent low-grade mineralization intersected is consistent
with a porphyry hosted system and is encouraging. Drillholes
LUC-024 and -025 are in progress in the northern portion of the
Lucero target. These drillholes are testing sediment-hosted and
porphyry copper-gold targets.
To view Figures 1-4 referenced in this press release, please
click on the following link:
http://media3.marketwire.com/docs/dri46i.pdf
ONGOING WORK
Drilling at Lucero is ongoing with drillholes LUC-024 and
LUC-025 in progress testing porphyry potential to the north.
Drilling at Cobrecon will begin in the coming days, where multiple
porphyry-style copper targets have been delineated. Regional work
is also ongoing with Targets T5 and T6 currently being evaluated
with surface samples.
Cordillera Del Condor Background
The Cordillera del Condor has been one of the most important
gold-bearing areas in Ecuador and Peru since pre-Incan times. On
the Ecuador side of the border, historical high-grade, small scale
gold production is reported to have exceeded 100,000 oz per
year.
Modern exploration on the Ecuadorian side of the border has
resulted in the discovery of multiple, significant and world-class
gold and base metal-bearing districts, such as Kinross Gold Corp.'s
Fruta del Norte Gold deposit with an inferred resource of 13.6
million contained ounces of gold averaging 7.23 g/t gold), the
Mirador Copper-Gold porphyry deposit (recently sold by Corriente
Resources Inc.) with measured & indicated resources of 438
million tonnes at 0.61% copper, 0.19 g/t gold plus inferred
resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and
the Mirador Norte Copper-Gold porphyry deposit (indicated 171
million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 million
tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals &
Mining Inc's Jerusalem Gold deposit in the Chinapintza district
with measured & indicated resources of 0.58 million contained
ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces
inferred contained ounces averaging 11.5 g/t gold). The technical
information with respect to the above deposits was obtained through
the respective companies' public disclosure documents available on
SEDAR.
Qualified Person
John Drobe, P.Geo., Dorato's Vice President of Exploration and a
qualified person as defined by National Instrument 43-101, has
reviewed the scientific and technical information that forms the
basis for this news release. Mr. Drobe is not independent of the
Company as he is an officer and a shareholder.
The geochemical results were reviewed by Tansy O'Connor-Parsons,
Senior Geochemist. Minera Afrodita on-site personnel rigorously
collect and track samples which are then security sealed and
shipped to ACME Laboratories, Lima, Peru for assay. ACME's quality
system complies with the requirements for the international
standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and
precision are monitored by the analysis of reagent blanks,
reference material and replicate samples. Quality control is
further assured by the use of international and in-house standards.
Blind certified reference material is inserted at regular intervals
into the sample sequence by field personnel in order to
independently assess analytical accuracy. In addition,
representative blind duplicate samples are routinely forwarded to
ACME and an ISO-compliant third party laboratory for additional
quality control.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on
the highly prospective Cordillera del Condor Gold District in
northern Peru and adjacent to the border with Ecuador - one of the
most important gold-bearing districts in the region since pre-Incan
times. Dorato, through a series of option agreements has the right
to wholly acquire an extensive land package of approximately
1,050-square-kilometres - providing the Company with the largest
land position in the Cordillera del Condor and a highly strategic
position in this emergent gold district. Dorato is well funded and
possesses experienced management with a proven track record.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith Henderson, President & CEO
Cautionary Statement
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward looking information" within the
meaning of the British Columbia Securities Act and the Alberta
Securities Act. Generally, the words "expect", "intend",
"estimate", "will" and similar expressions identify forward-looking
information. By their very nature, forward-looking statements are
subject to known and unknown risks and uncertainties that may cause
our actual results, performance or achievements, or that of our
industry, to differ materially from those expressed or implied in
any of our forward looking information. Statements in this press
release regarding Dorato's business or proposed business, which are
not historical facts are forward-looking information that involve
risks and uncertainties, such as estimates and statements that
describe Dorato's future plans, objectives or goals, including
words to the effect that Dorato or management expects a stated
condition or result to occur. Since forward-looking statements
address events and conditions, by their very nature, they involve
inherent risks and uncertainties. Actual results in each case could
differ materially from those currently anticipated in such
statements. Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they
are made. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials, including the technical reports filed with respect
to the Company's mineral properties. The foregoing commentary is
based on the beliefs, expectations and opinions of management on
the date the statements are made. The Company disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events
or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Dorato Resources Inc. Steve Stakiw Manager - Corporate
Communications 604-638-5817 Dorato Resources Inc. Michael Pound
Manager - Investor Relations 604-638-5817 604-408-7499 (FAX)
info@doratoresources.com www.doratoresources.com
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