Initial Drill Results for Cobrecon Copper Gold
Porphyry Target
Four holes confirm porphyry mineralization
Hole CBC-02 intersects 126 metres of 0.19% Cu, 0.04g/t Au, 0.002% Mo within broader
intercept of 228m of 0.16% Cu, 0.04g/t Au, 0.002% Mo
Vancouver,
British Columbia -
Dorato Resources Inc. (?Dorato? or the ?Company?) (OTCQX:
DRIFF, TSX-V: DRI, Frankfurt: D05) announces receipt from Minera
Afrodita of drill core assay results from the first
four holes drilled at the Cobrecon copper-gold
porphyry target, in the Condor Copper-Gold District in northern Peru. Cobrecon is the northern of two large, parallel porphyry
systems, the southern system being Cobrecon South,
which is yet to be drill-tested. Dorato has a
right to acquire 100% of Minera Afrodita.
The upper
portion of hole CBC-01 intersected 0.16% Cu, 0.03g/t Au, and 0.002% Mo over 100
metres, and a second, deeper intercept returned 0.12%
Cu, 0.02g/t Au, and 0.002% Mo over 165 metres. Hole CBC-02 intersected 228 metres
of 0.16% Cu, 0.04g/t Au, 0.002% Mo, from 6 to 234 metres,
including 126 metres of 0.19% Cu, 0.04g/t Au, 0.002%
Mo.
Average
grades in holes CBC-01 and CBC-02 are consistent with rock samples collected at
surface, which ranged from 0.1% to 0.2% copper. Drill testing has
confirmed similar grades at depth and for significant thicknesses, as would be
expected in a porphyry system.
Two
additional holes have been completed approximately 700 metres
to the southeast to test a recently discovered area of surface mineralization,
where multiple rock samples grade 0.2% to 0.5% copper. Drilling continues
with at least five additional holes planned.
Results
in Detail
Six holes
at Cobrecon are now complete (total 2250m) with holes
CBC-07 and 08 in progress (Figure 1). Final results have been received for
holes CBC-01 to 04; with assay highlights included as Table 1 (below).
Table 1: Cobrecon Significant Drill
Intersections
Hole
|
From (m)
|
To (m)
|
Interval
|
Copper%
|
Moly
(ppm)
|
Gold g/t
|
Silver g/t
|
CBC-01
|
0
|
20.5
|
20.5
|
0.1018
|
10.9
|
0.033
|
2.8
|
|
20.5
|
121
|
100.5
|
0.1626
|
16.5
|
0.027
|
0.6
|
|
163.11
|
183.7
|
20.59
|
0.1819
|
4.7
|
0.037
|
0.5
|
|
240
|
405.47
|
165.47
|
0.1181
|
20.5
|
0.017
|
0.4
|
|
|
|
|
|
|
|
|
CBC-02
|
5.74
|
234
|
228.26
|
0.1607
|
15.7
|
0.041
|
0.7
|
including
|
5.74
|
108.25
|
102.51
|
0.1212
|
13.5
|
0.039
|
0.9
|
|
108.25
|
234
|
125.75
|
0.1930
|
17.5
|
0.043
|
0.7
|
|
234
|
264
|
30
|
0.1425
|
12.3
|
0.017
|
0.4
|
|
346
|
430
|
84
|
0.1196
|
15.6
|
0.032
|
0.4
|
|
|
|
|
|
|
|
|
CBC-03
|
10.3
|
94
|
83.7
|
0.1558
|
27.0
|
0.039
|
0.6
|
|
|
|
|
|
|
|
|
CBC-04
|
0
|
61.65
|
61.65
|
0.1236
|
12.7
|
0.062
|
0.8
|
Interpretation
The four
holes were drilled in pairs from two platforms in order to better determine the
centre of the mineralization. The west-directed holes
(CBC-03 and CBC-04) collared in mineralization but drilled out of it to the
west and at depth ? this
suggests that holes CBC-01 to -04 are located close to the edge of the porphyry
system. East-directed holes (CBC-01 and CBC-02) intersected
mineralization from near-surface to end of hole (ending in mineralization),
suggesting that the porphyry system remains open to the east and at depth
(Figures 2 and 3).
Open
System
The fact
that the system is open is important for overall size potential (tonnage) and
will require more drilling to be fully tested. The area of surface
mineralization is open to the south (currently being drill-tested by CBC-05 and
CBC-06) where multiple surface rock samples returned grades between 0.2% and
0.5% copper. It is open to the north, where a surface sample grading
0.63% copper and 0.48 g/t gold will be tested at depth by planned drilling.
Finally, the system is open to the east where surface soil anomalies are higher
than anywhere else within the anomaly.
Geology,
Alteration & Structure
The better
mineralization is related to, but not confined by, northwest-trending, subvertical phreatic breccia dikes. Mineralization
occurs as fine disseminated chalcopyrite as well as coarser blebs in the
breccia matrix. Diorite, hornfels arenite,
and diabase also host disseminated chalcopyrite.
Quartz-sericite-pyrite and argillic
alteration predominates, with common late-stage calcite veining within the
breccia. Only one significant post-mineral dike was intersected, in hole CBC-02, near the outer margin of the mineralization.
Copper grades decrease within more common early dacite
porphyry dikes, which are closely associated with the mineralization. These dacite dikes precede the breccia.
The
highest-grade copper interval is from CBC-02, which returned 0.19% Cu over 126m
between 108-234m in an area of stronger potassic-silicic
alteration and better chalcopyrite-pyrite ratios. This is within a larger
intercept of 228m of 0.16 Cu, from 6m below the surface down. Hole CBC-01
intersected similar grades, including an upper intercept of 100 metres of 0.16% Cu and a deeper intercept of 165m of 0.12%
Cu. Both holes ended in mineralization at their target depths.
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
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.