Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:
DRI)(OTCQX: DRIFF)(FRANKFURT: DO5) 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 (Figure 1:
http://media3.marketwire.com/docs/fig10612.pdf).
Table 1: Cobrecon Significant Drill Intersections
----------------------------------------------------------------------------
Moly Gold Silver
Hole From (m) To (m) Interval Copper% (ppm) g/t 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:
http://media3.marketwire.com/docs/fig2-30613.pdf).
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.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on
the highly prospective Cordillera del Condor Gold District in
northern Peru and adjacent to the border with Ecuador - one of the
most important gold-bearing districts in the region 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 and a highly strategic
position in this emergent gold district. Dorato is well funded and
possesses experienced management with a proven track record.
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.com and 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.
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. Steve Stakiw Manager - Corporate
Communications 604-638-5817 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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