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Nov 17, 2011 |
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11-18-2011 11:48 |
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 Corazonʼs principal property, in Santo Domingo, Nicaragua is wholly surrounded by B2Goldʼs La Libertad concession, which is home to the countryʼs biggest producing mine. Corazon’s property boundary is located 200 metres from B2’s Jabali vein discovery, which revealed results of 522,000 ounces Au at 4.58 g/t. For centuries, Artisanal miners have been mining the gold-bearing quartz veins at Santo Domingo. Corazon is the first company to apply modern exploration techniques to the property and kicked off drilling in February 2011.
Mapping and trenching of the property was completed in December 2010 and revealed over 15km of epithermal quartz veins. Drilling to date has revealed grades as high as 27.50 grams per ton at 0.3m, 17.47 g/t at 1.25m and 16.81 g/t at 0.35m in the veins tested.
With 34 exploratory holes having been completed to date, Phase 2 drilling will further probe the Amparo zone and the Santo Domingo vein, in addition to the several kilometers of strike that remains untouched on the property.
Corazon is led by an experienced geological and management team. This includes Directors: Carl Hering, (Ph.D), Rosie Moore, John King Burns and Stephen Barley; CEO & Director Patrick Brauckmann; and CFO Maricruz Alvarado. The exploration team is lead by Robert Johansing, Marco Montecinos and John Spurney, each having made major discoveries in Central America.
As of November, 2011, 60,496,554 shares were issued, with insiders holding 48%, and 44% in the hands of North Americaʼs leading institutions. We remain well capitalized with approximately $8 million (CAD) in the treasury.
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| The Santo Domingo property is located 125 kilometres northeast of Managua, Nicaragua, and 10 kilometres east of B2Gold Corp.’s La Libertad Mine. Corazon’s concession is entirely surrounded by B2Gold’s concession block.... |
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