Dorato Receives Final Drill Results from Phase I Cobrecon Drilling
23 September 2011 - 3:00PM
Marketwired Canada
Dorato Resources Inc. ("Dorato" or the "Company") (TSX
VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5) announces receipt, from Minera
Afrodita, of final drill results from the first phase of drilling at the
northern-most anomaly at Cobrecon. Results indicate the presence of a large and
pervasive mineralized porphyry system, drill-tested over an area of 2km x 1km
(Figure 1). Grades can be considered sub-economic at 0.1% to 0.2% copper, but
the presence of such a large and pervasive mineralized system is encouraging for
the two remaining drill targets (Cobrecon Sur and Cobrecon Este), which are
defined by larger, more intense surface geochemical anomalies. Drilling on the
remainder of the targets is subject to Minera Afrodita's permitting process.
Dorato has also received additional surface geochemical results which further
expand the known extents of the Cobrecon Sur and Cobrecon Este drill targets
(Table 1 & Figures 2 and 3). Dorato has a right to acquire 100% of Minera
Afrodita, which holds concessions within the Condor Copper-Gold District in
northern Peru.
Table 1:Summary of Cobrecon Drill Targets
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Target Dimensions Drill Testing Geochemistry Geophysics
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Cobrecon 2km x 1km Complete Moderate Moderate
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Cobrecon Sur 4km x 2km Awaiting Permit Strong Strong
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Cobrecon Este 1km x 1km Awaiting Permit Strong Strong
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DRILL RESULTS
Figure 1 summarizes the results from drilling of first Cobrecon target and
demonstrates the extent of pervasive, low-grade copper mineralization. Best
results from holes 7 to 10 include; hole CBC-8, which intersected 103 metres (23
metres to 126 metres) grading 0.19% copper equivalent. CBC-10 also demonstrates
thick, pervasive mineralization, intersecting 170 metres (10 metres to 180
metres) grading 0.10% copper equivalent. Highlights from all holes of Phase 1
drilling are shown in Table 2 below.
To view Figure 1: Cobrecon Drilling Results and Geology, please visit the
following link: http://media3.marketwire.com/docs/DRI923_F1.pdf
SURFACE RESULTS
At Cobrecon Este, anomalous soil samples and airborne electromagnetic data now
outline a strong copper-molybdenum anomaly to the east of Cobrecon (Figure 2).
To view Figure 2: Regional view of Cobrecon, Cobrecon Sur, and Cobrecon Este,
please visit the following link: http://media3.marketwire.com/docs/DRI923_F2.pdf
Preliminary rock samples from the area have returned altered intrusive rocks
(quartz-sericite-pyrite and quartz vein stockwork) with disseminated
chalcopyrite and chalcocite indicative of a porphyry system. Additional ridge
and spur soil sampling and reconnaissance rock sampling in creeks is planned.
Most encouraging is that the molybdenum anomaly is coincident with a zinc-low
anomaly at Cobrecon Sur and Este, which suggests a strong system (Figure 3) -
this mineral zoning is most critical in the copper-gold porphyry deposits across
the border in Ecuador (Mirador porphyry district).
To view Figure 3: Zinc Low, please visit the following link:
http://media3.marketwire.com/docs/DRI923_F3.pdf
Additional soil results from the western limits of the Cobrecon Sur anomaly show
that the mineralization is contiguous with the El Hito porphyry across the
border in Ecuador (Figure 2). Minera Afrodita channel rock samples from creeks
draining the slopes east of El Hito ran 0.3% Cu over 80m. This additional
sampling increases the size of Cobrecon Sur target area to 4 kilometres x 1
kilometre.
Table 2: Cobrecon Significant Drill Intersections.
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Hole From (m) To (m) Interval Cu% Mo (ppm) Au g/t Ag g/t CuEq(i)
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CBC-01 0 20.5 20.5 0.1018 10.9 0.033 2.8 0.12
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20.5 121 100.5 0.1626 16.5 0.027 0.6 0.18
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163.11 183.7 20.59 0.1819 4.7 0.037 0.5 0.20
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240 405.47 165.47 0.1181 20.5 0.017 0.4 0.13
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CBC-02 5.74 234 228.26 0.1607 15.7 0.041 0.7 0.19
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5.74 108.25 102.51 0.1212 13.5 0.039 0.9 0.15
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incl. 108.25 234 125.75 0.1930 17.5 0.043 0.7 0.22
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234 264 30 0.1425 12.3 0.017 0.4 0.15
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346 430 84 0.1196 15.6 0.032 0.4 0.14
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CBC-03 10.3 94 83.7 0.1558 27.0 0.039 0.6 0.18
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CBC-04 0 61.65 61.65 0.1236 12.7 0.062 0.8 0.16
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CBC-05 85.5 270.5 185 0.1154 16.3 0.023 0.5 0.13
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incl. 85.5 219 133.5 0.1247 17.4 0.026 0.6 0.14
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344 380.15 36.15 0.1259 25.6 0.078 0.5 0.17
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CBC-06 8.92 122 113.08 0.1786 12.0 0.135 1.0 0.26
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incl. 21.7 85.5 63.8 0.2454 16.9 0.196 1.2 0.37
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CBC-08 23 126 103 0.1418 10.3 0.081 1.1 0.19
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CBC-09 3 42 39 0.1079 9.6 0.036 0.6 0.13
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CBC-10 10 180 170 0.1028 20.5 0.026 0.6 0.10
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incl. 10 27.26 17.26 0.1688 20.0 0.037 1.1 0.19
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(i) calculation for copper equivalent assumes $1500/oz gold and $3.50/lb
copper; recovery not taken into account
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.
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.comand 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.
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