Corazon Announces Encouraging Initial Trench Results from Santo Domingo Project in Nicaragua
07 Februar 2011 - 3:00PM
Marketwired
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.
Neither the 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: Corazon Gold Corp. Patrick Brauckmann President (604)
609-6160
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