Corazon Discovers New High Grade Zone at Santo Domingo, Nicaragua; Latest Drilling Intercepts 2.85 metres of 7.89 g/t Gold in...
01 November 2011 - 2:00PM
Marketwired
Corazon Gold Corp. ("Corazon" or the "Company") (TSX
VENTURE:CGW)(OTCBB:RMZFF) announces the discovery of a new
high-grade mineralized structure, referred to as the Portillo vein,
in the latest holes of its Phase One drilling program at the Santo
Domingo gold property in Nicaragua. The Company only recently
gained access to this portion of the property, and left the initial
drilling of this prospective area until the end of Phase One. The
Portillo vein is located near the Northwest side of Corazon's Santo
Domingo Concession and strikes west, toward the Escandalo vein,
located on B2Gold Corp.'s La Libertad concession.
The Company has completed a total of 34 diamond drill holes
(5,603 metres) and will begin Phase Two drilling in mid-November,
2011. Phase Two is designed to 'step-out' from several of the
significant intercepts identified during Phase One. The 6.5km2
Santo Domingo concession is situated wholly within B2Gold's La
Libertad property, containing the La Libertad gold-silver mine, and
the recent Jabali vein discovery, which lies immediately to the
south of Corazon's concession.
Drilling Highlights
-- Newly discovered El Portillo zone cuts 0.45 metres grading 21 g/t gold;
returning a drill intercept of 2.85 metres of 7.89 g/t gold.
-- Dulce Nombre vein yields 0.70 metres of 11.13 grams per ton gold.
A map showing the current drill holes and various vein
structures is available at
http://www.corazongold.com/s/SantoDomingo.asp?ReportID=485037&_Type=Santo-Domingo&_Title=Maps.
Table 1. Significant Phase One Drill Hole Intercepts
---------------------------------------------------------------------------
Intercept
----------------------- Apparent
Hole No. Vein From To Width(i) Gold (g/t)
---------------------------------------------------------------------------
SD30-11 Dulce Nombre 3.40 4.10 0.70 11.13
---------------------------------------------------------------------------
SD33-11 El Portillo 79.10 79.40 0.30 7.31
---------------------------------------------------------------------------
El Portillo 102.85 104.60 1.75 14.52
---------------------------------------------------------------------------
El Portillo 119.00 123.80 4.80 5.37
---------------------------------------------------------------------------
Incl. 119.00 119.20 0.20 20.13
---------------------------------------------------------------------------
Incl. 119.45 119.90 0.45 21.00
---------------------------------------------------------------------------
Incl. 119.90 121.85 2.85 7.89
---------------------------------------------------------------------------
SD34-11 El Portillo 77.00 77.20 0.20 15.59
---------------------------------------------------------------------------
(i) Interval widths reported are drilled width and may not represent true
width
Drilling at Santo Domingo reveals that the veins are dominated
by breccia textures containing angular volcanic rock and vein
fragments enclosed in a quartz-chalcedony matrix. Colloform banded,
vuggy, comb-textured, and amethystine quartz are noted locally. The
Portillo vein in Hole No. SD33-11 is closely associated with a
felsic dike, possibly a rhyolite, which suggests a link between
mineralization and volcanic processes. Corazon is the first company
to drill the concession, and has to date, only explored the veins
at shallow depths.
John C. Spurney, M.Sc. Geology, 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 core samples submitted for assay. All samples 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
Inspectorate Exploration & Mining Services Ltd.'s preparation
facility in Managua, Nicaragua. From Managua, they were sent via
airfreight to Inspectorate's assay laboratory in Richmond, BC,
Canada. Samples are 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.
On Behalfof the Board of Directors, Corazon Gold Corp.
Patrick Brauckmann, President and CEO
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. Actual results may differ materially from those
currently anticipated. 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 and
CEO (604) 629-9670pb@corazongold.com Corazon Gold Corp. Tiffany
Tolmie Investor Relations (604)
629-9670tiffany@corazongold.comwww.corazongold.com
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