Dorato Announces Commencement of Exploration at Deborah Property, Cajamarca, Peru
02 März 2012 - 3:30PM
Marketwired
Dorato Resources Inc. ("Dorato" or the "Company") (TSX
VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5) is currently conducting
the initial exploration program at the recently acquired Deborah
Property ("Deborah"), in Cajamarca Region, Peru. Dorato entered
into an option agreement in September 2011 to acquire a 100%
interest in the property, which is nestled between several major
ore deposits including Anglo American's Michiquillay Copper-Gold
Porphyry, located 6 kilometres to the southwest (631MT of 0.69%
copper, 0.15 g/t gold, and 0.02% moly) and China Minmetals and
Jiangxi Copper Corp's El Galeno Copper-Gold Porphyry, located 6
kilometres to the north (661MT of 0.50% copper, 0.12 g/t gold;
Figure 1). The focus at Deborah will be to discover similar
bulk-mineable, gold-silver-copper mineralization, though at present
it is not known if similar results will be obtained from the
property.
Deborah is located only 1.5 hours east of the city of Cajamarca,
with good access via paved and dirt roads. While little of the
historic surface or drill hole data are available, the initial work
underway is focussed on a large area not tested by drilling and
with only limited surface samples. Reconnaissance mapping at 1:5000
scale over the last couple weeks has led to a good understanding of
the geology and outlined widespread iron-oxide mineralization.
Close-spaced soil and rock chip sampling of a core area covering
120 Ha is targeting disseminated gold and/or silver mineralization
hosted by gossanous-weathering quartzite and siltstone (Figures 2
to 4). These rocks lie east and north of areas of historic
drilling, where narrow breccia bodies within massive quartzite were
targeted. Trenches and pits will be dug in areas of talus
overburden and any bedrock will be sampled. Maps and images are
available at www.doratoresources.com; see September 23, 2011 News
Release for additional information.
Further, the Company wishes to advise the following management
changes. Carlos Ballon, a current director of the Company, will be
replacing Anton Drescher as President and CEO. Mr. Ballon is a
graduate of Colorado School of Mines and a very experienced mining
engineer who managed the Santander mine in Peru from 1985 to 1993.
More recently, he was vice-president, South America, for Corriente
Resources Ltd. and a director of Thiess South America (Australia's
largest contract miner) where he managed major engineering works in
Peru. Mr. Ballon is currently manager, South America, for Cardero
Resource Corp., a mineral exploration company listed on the Toronto
Stock Exchange and the NYSE Amex and a director of Stonehouse
Construction, a private international multi-disciplined project
delivery company, headquartered in Kuala Lumpur, focusing on
projects in Malaysia and Kazakhstan. Anton Drescher will remain as
a director and be replacing Anna Ladd as the Company's CFO. The
Company wishes to thank Ms. Ladd for all her efforts.
The Company is continuing its efforts to complete the
non-brokered financing as announced on November 17th, 2011.
To view Figures 1-4, click on the following link:
http://media3.marketwire.com/docs/d31f.pdf
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on
the highly prospective Northern Peru copper-gold
porphyry-epithermal belt. The Company has property rights in two
geographic centres:
-- Cajamarca Region Project: Dorato has acquired rights on the Deborah
property, which is nestled between several important copper-gold
deposits, including Michiquillay and El Galeno.
-- Cordillera del Condor Asset: One of the most important gold-bearing
districts in northern Peru 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.
The Company focuses on opportunities in strategically important
locations where prospectivity can be demonstrated by proximity to
existing deposits. The Cajamarca Region is an established mining
district with excellent infrastructure. The Deborah property is a
foothold for Dorato into an established area with excellent
exploration potential. The Cordillera del Condor project represents
an exceptional land position and an emergent copper-gold district,
located close to the border with Ecuador. This remote area of Peru
remains underexplored despite being located within kilometres of
recent significant discoveries like the Fruta del Norte epithermal
Au deposit (Kinross) and the Mirador Cu-Au Porphyry District, both
located just across the border in Ecuador.
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.
On behalf of the board of directors of DORATO RESOURCES INC.
Anton Drescher, Director
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
supreme 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.
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. Michael Pound Manager - Investor
Relations (604) 638-5817 (604) 408-7499
(FAX)info@doratoresources.com www.doratoresources.com
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