DRI Xiana Mining, Inc.

Dorato Resources Inc. ("Dorato" or the "Company") (TSX
VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5) announces receipt, from Minera
Afrodita, of additional surface geochemical results from the southeast zone of
the Cobrecon anomaly, and the central portion of the Cobrecon Sur anomaly,
within the Condor Copper-Gold District in northern Peru. Soil and rock sample
results from both the Cobrecon and Cobrecon Sur porphyry targets outline two
large, parallel porphyry systems. 


Four holes have been completed at Cobrecon, where drilling has now stepped out
500 metres to the southeast to test a newly-discovered area of surface
mineralization (multiple rock samples grading 0.2% to 0.5% copper at surface).
Dorato has a right to acquire 100% of Minera Afrodita.


COBRECON TARGET

Four drillholes have been completed (CBC-01 to CBC-04) in the central portion of
the Cobrecon porphyry target. Assay results are pending for all completed
drillholes.


In the southern portion of the target, new soil sampling results have shifted
the focus of drilling 500 metres to the southeast, where two drillholes are in
progress and at least four additional drillholes are planned (Figure 1:
http://media3.marketwire.com/docs/d531a.pdf). The new soil results are
complemented by mapping and rock sampling, which returned a cluster of surface
rock samples grading between 0.11% copper and 0.5% copper. This is the most
consistent porphyry mineralization discovered in the program to date.


The northern portion of the target, where rock samples returned up to 0.63%
copper and 0.48 g/t gold, has not yet been drill-tested.


The additional soil sample results now completely define the soil anomaly
(Figure 2: http://media3.marketwire.com/docs/d531b.pdf). Soil molybdenum is the
most reliable indicator of subsurface mineralization and the outline of the
molybdenum anomaly is therefore used as a reference in Figure 2. The soil
anomaly indicates there are likely two centres, or concentrations, of
mineralization: one centred at platform C (300m north of holes CBC-02 and
CBC-04) and another at the site of current drilling. Visual estimates of
mineralization in drill core support this observation.


COBRECON SUR

The copper and molybdenum soil sample results at Cobrecon Sur (Figure 2) define
the extents of disseminated copper mineralization mapped in the creeks. The
copper-molybdenum anomaly is large, measuring 1.5 km wide and 3 km long and soil
samples are higher in copper and molybdenum than at Cobrecon to the north.
Reconnaissance-level rock sampling has returned grades up to 0.35% copper.


Recently completed airborne geophysics at Cobrecon Sur defines a broad magnetic
low coincident with a near-circular EM anomaly that is interpreted to outline
quartz-sericite-pyrite alteration around the mineralization (Figure 3:
http://media3.marketwire.com/docs/d531c.pdf). The soil and geophysics anomalies
are almost perfectly coincident with a large area of quartz and sulphide
stockwork veining with chalcopyrite (copper) mineralization hosted by variably
sheared diorite and coarse granite. The granite currently appears to be the best
host for mineralization, with rock samples grading up to 0.35% copper - the
mineralization is more disseminated in nature within the granite host and the
area of mineralized outcrops will be the initial drill target.


THIRD PORPHYRY TARGET UNDER INVESTIGATION

Recent Airborne EM data has identified a strong anomaly to the east (Figure 3)
coincident with an area of anomalous silt samples. A few preliminary rock
samples from the area have returned altered intrusive rocks
(quartz-sericite-pyrite and quartz vein stockwork) suggesting proximity to a
porphyry system. Additional ridge and spur soil sampling and reconnaissance rock
sampling is underway in the area, which is approximately 2-3 kilometres
southeast of the current drill holes. 


FINAL LUCERO DRILLING

Final assay results have now been received for the drilling at the Lucero
gold-copper skarn project. The results of holes LUC-22 and 23, which tested the
western extent of the surface gold mineralization, indicate the skarn is
thinning in that direction, and are at the edges of the skarn as shown in Figure
4. Drillhole LUC-022 intersected 0.49 g/t gold and 0.23% copper over 7.5 metres
below the skarn, and LUC-023 intersected 0.80 g/t Au and 0.40% Cu over 14.75
metres within the skarn and from surface. 


The surface skarn mineralization has been subjected to post-mineral erosion,
such that the skarn thickness varies from 10 meters to 150 meters depending on
topography. In the area where the best gold mineralization occurs, skarn-hosted
mineralization has been eroded, preserving approximately 20-30 metres of
mineralization. A conceptual geologic estimate of the resource at Lucero can be
made assuming a consistent slab of skarn mineralization 25m thick and average
grade of 1-1.5 g/t; the average specific gravity is assumed to be 3 (based on
actual core measurements). Applying these figures to surface dimensions of 400
by 200m estimated that at Lucero there are about 6 million tonnes containing
190,000 to 280,000 ounces of gold. Note that, as per National Instrument 43-101
standards of disclosure, this estimate is conceptual in nature and there has
been insufficient exploration to define a mineral resource; it is uncertain that
further exploration will result in the target being delineated as a mineral
resource. Dorato is focussed on discovery of a large, bulk-tonnage resource, and
this conceptual estimate indicates Lucero is too small to warrant proving up
this geologic estimate to the Inferred category with additional drilling.
Therefore, no further exploration is planned.


Drillholes LUC-024 and -025 (see Figure 4:
http://media3.marketwire.com/docs/d531d.pdf) tested deeper disseminated
mineralization beneath the skarn in the underlying arenite package. Neither hole
intersected significant mineralization. 


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 results of the geophysical survey have been reviewed by Brian Williams,
consulting geophysicist, who checked data quality during data acquisition and
assists with ongoing interpretation. 


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 Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking
information (collectively, "forward-looking statements") within the meaning of
applicable Canadian and US securities legislation. All statements, other than
statements of historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost of
exploration programs, anticipated exploration program results, the discovery and
delineation of potential mineral deposits/resources/reserves, business and
financing plans and business trends, are forward-looking statements. Although
the Company believes that such statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Forward-looking
statements are typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. The Company cautions investors
that any forward-looking statements by the Company are not guarantees of future
results or performance, and that actual results may differ materially from those
in forward looking statements as a result of various factors, including, but not
limited to, variations in the nature, quality and quantity of any mineral
deposits that may be located, variations in the market price of any mineral
products the Company may produce or plan to produce, the Company's inability to
obtain any necessary permits, consents or authorizations required for its
activities, the Company's inability to produce minerals from its properties
successfully or profitably, to continue its projected growth, to raise the
necessary capital or to be fully able to implement its business strategies, to
obtain the required supremem decree from Peruvian authorities and other risks
and uncertainties disclosed in the Company's Amended 2010 Annual Information
Form filed with certain securities commissions in Canada and the Company's 2010
Annual Report on Form 40-F filed with the United States Securities and Exchange
Commission (the "SEC"), and other information released by the Company and filed
with the appropriate regulatory agencies. All of the Company's Canadian public
disclosure filings may be accessed via www.sedar.com and its United States
public disclosure filings may be accessed via www.sec.gov, and readers are urged
to review these materials, including the latest technical report filed with
respect to the Livengood Property.


Cautionary Note Regarding References to Resources and Reserves

National Instrument 43 101 - Standards of Disclosure for Mineral Projects ("NI
43-101") is a rule developed by the Canadian Securities Administrators which
establishes standards for all public disclosure an issuer makes of scientific
and technical information concerning mineral projects. Unless otherwise
indicated, all resource estimates contained in or incorporated by reference in
this press release have been prepared in accordance with NI 43-101 and the
guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum
(the "CIM") Standards on Mineral Resource and Mineral Reserves, adopted by the
CIM Council on November 14, 2004 (the "CIM Standards") as they may be amended
from time to time by the CIM.


United States shareholders are cautioned that the requirements and terminology
of NI 43-101 and the CIM Standards differ significantly from the requirements
and terminology of the SEC set forth in the SEC's Industry Guide 7 ("SEC
Industry Guide 7"). Accordingly, the Company's future disclosures regarding
mineralization may not be comparable to similar information disclosed by
companies subject to SEC Industry Guide 7. Without limiting the foregoing, while
the terms "mineral resources", "inferred mineral resources", "indicated mineral
resources" and "measured mineral resources" are recognized and required by NI
43-101 and the CIM Standards, they are not recognized by the SEC and are not
permitted to be used in documents filed with the SEC by companies subject to SEC
Industry Guide 7. Mineral resources which are not mineral reserves do not have
demonstrated economic viability, and US investors are cautioned not to assume
that all or any part of a mineral resource will ever be converted into reserves.
Further, inferred resources have a great amount of uncertainty as to their
existence and as to whether they can be mined legally or economically. It cannot
be assumed that all or any part of the inferred resources will ever be upgraded
to a higher resource category. Under Canadian rules, estimates of inferred
mineral resources may not form the basis of a feasibility study or
prefeasibility study, except in rare cases. The SEC normally only permits
issuers to report mineralization that does not constitute SEC Industry Guide 7
compliant "reserves" as in-place tonnage and grade without reference to unit
amounts. The term "contained ounces" is not permitted under the rules of SEC
Industry Guide 7. In addition, the NI 43-101 and CIM Standards definition of a
"reserve" differs from the definition in SEC Industry Guide 7. In SEC Industry
Guide 7, a mineral reserve is defined as a part of a mineral deposit which could
be economically and legally extracted or produced at the time the mineral
reserve determination is made, and a "final" or "bankable" feasibility study is
required to report reserves, the three-year historical price is used in any
reserve or cash flow analysis of designated reserves and the primary
environmental analysis or report must be filed with the appropriate governmental
authority.

Xiana Mining, Inc. (TSXV:DRI)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Xiana Mining, Inc. (TSXV:DRI)
Historical Stock Chart
Von Jun 2023 bis Jun 2024