Coro Mining extends option for El Desesperado
Coro Mining Corp. has agreed to a three-month extension to the option agreement with the property owners of the El Desesperado project, at a cost of $20,000 (U.S.) per month. Coro has recently completed a five-hole, 1,191-metre diamond drilling program and a seven-hole, 950 m reverse circulation drilling program; assay results for the program will be released in due course. As a result of greater geological complexity than anticipated, combined with the diamond drilling difficulties that necessitated completion of the program with an RC rig, the company had not generated sufficient information to justify making the $650,000 (U.S.) option payment due on Feb. 17, 2014.
Alan Stephens, FIMMM, president and chief executive officer of Coro Mining, a geologist with more than 38 years of experience, and a qualified person for the purposes of NI 43-101, is responsible for the contents of this news release.
About El Desesperado
The El Desesperado copper project, is located seven kilometres northwest of the city of Calama in the II Region of Chile, and immediately west of Codelco’s Toki cluster deposits.
http://www.coromining.com/s/newsreleases.asp
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