Corporate Presentation - December 2018 - coromining.com
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Corporate Presentation December 2018
Disclaimer
This presentation includes certain forward-looking statements securities of Coro
about future events and/or financial results which are forward- Mining Corp. The potential target tonnage and grade noted for the
looking in nature and subject to risks and uncertainties. Such Marimaca project are conceptual in nature as there has been
forward-looking statements or information, including but not insufficient exploration to define mineral resources, and it is
limited to those with respect to the development of the Marimaca uncertain if further exploration will result in these targets being
project, metal prices, metallurgical results and resource estimates, delineated as mineral resources.
involve known and unknown risks, uncertainties, and other factors
which may cause the actual results, performance or achievements Unless otherwise indicated, Coro has prepared the technical
of the Company to be materially different from any future results, information in this presentation (“Technical Information”) based on
performance or achievements expressed or implied by such information contained in the technical reports and news releases
forward-looking statements or information. Forward-looking (collectively the “Disclosure Documents”) available under Coro
statements include without limitation, statements regarding the Mining Corp.’s company profile on SEDAR at www.sedar.com. Each
company’s plans, goal or objectives and future completion of mine Disclosure Document was prepared by or under the supervision of a
feasibility studies, mine development programs, capital and qualified person (a “Qualified Person”) as defined in National
operating costs, production, potential mineralization, resources and Instrument 43-101 – Standards of Disclosure for Mineral Projects of
reserves, exploration results and future plans and objectives of Coro the Canadian Securities Administrators (“NI 43-101”). For readers to
Mining Corp. Forward-looking statements can generally be fully understand the information in this presentation, they should
identified by the use of forward-looking terminology such as “may”, read the Technical Reports (available on www.sedar.com) in their
“will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, or “ entirety, including all qualifications, assumptions and exclusions that
continue” or the negative thereof or variations thereon or similar relate to the information set out in this presentation which qualifies
terminology. There can be no assurance that such statements will the Technical Information. Readers are advised that mineral
prove to be accurate and actual results and future events could resources that are not mineral reserves do not have demonstrated
differ materially from those anticipated in such statements. economic viability. The Disclosure Documents are each intended to
Important factors that could cause results to differ materially from be read as a whole, and sections should not be read or relied upon
expectations include risks associated with mining generally and pre- out of context. The Technical Information is subject to the
development stage projects in particular. The company is an assumptions and qualifications contained in the Disclosure
exploration, development & mining company. Many references to Documents. All Dollar amounts in this presentations are US Dollars
resources and other geological and technical information contained unless otherwise stated.
herein have not been verified by an independent expert and are
either not in accordance with the requirements under National Sergio Rivera, Vice President Exploratin of Coro Mining Corp, a
Instrument 43-101 or have not been prepared in accordance with a geologist with more than 35 years of experience is the Qualified
preliminary or final feasibility study. Potential investors should Person for the purposes of NI 43-101 and has approved this written
conduct their own investigations as to the suitability of investing in disclosure.
2
WE ARE CORO
Why Copper? Why Exploration? Why Chile?
Demand is strong due to population More value is created in the As the world’s largest copper
growth, urbanization and discovery, exploration and resources producer, with established industrial
electrification. However a supply growth phases of a mining project & commercial infrastructure, Chile is
deficit is likely due declining than any other. The Marimaca a low-risk jurisdiction geared for
production & new resources. project has this potential with a exploration and mining.
limited risk profile.
Corporate Overview
CAP STRUCTURE
Stock Exchange TSX “COP”
Market Cap C$80 million (C$0.055
share price)
Shares Out 1,455,388,294
Options Out 31,500,000
100% 25%* Cash US$15.5m (Dec 1, 2018)
Debt $0m
Shareholders Greenstone 55.6%
MCAL Rising Star Copper (UK)
Tembo 15.7%
Mackenzie 5.3%
Rising Star Copper (Chile)
BOARD
MCC
Colin Kinley Independent
MARIMACA
Chairman
SCM Berta Petra Decher Independent Director
Tim Petterson Independent Director
Michael Haworth Director
Alan Stephens Director
Luis Tondo Director
Registered Office: Vancouver
Head Office: Santiago
* Pending completion of asset transfers
4
Marimaca Overview
The potential to be one of the best new open-pittable, copper oxide deposits in Chile.
14km from infrastructure, 22km from Mejillones Port and 60 km from Antofagasta.
Maps and illustration are not to scale
5
Corporate & Project Objectives & Strategy
OBJECTIVE STRATEGY
100% ownership across Shift from control to ownership
OWNERSHIP project area with property stakeholders
Establish resource for oxides and Phase II exploration program to
RESOURCES understand potential of sulphides determine resource and optionality
As project scale is defined, Realize geological, geographical,
VALUE develop plans to optimize value capital and risk premiums
STEWARDSHIP Implement high standards of environmental, social responsibility and governance
6
1. Focusing on Marimaca
MARIMACA ►
Marimaca Funds raised to Funds raised for
identified as acquire remaining Marimaca Phase
new core asset land claims and II exploration
consolidate program
Marimaca land
package
EXPLORATION EXPLORATION EXPLORATION
STRATEGIC RIGHTS PROGRAM INTERIM PROGRAM
REVIEW PLACEMENT OFFERING PHASE II RESULTS PHASE III
APR 18 AUG 18 SEP 18 OCT 18 DEC 18 JAN 18
SCM Berta SCM Berta SCM Berta SCM Berta
ring-fenced care and maintenance ownership long-term
with new reduces to 25% Plan
finance and
corporate
restructuring
◄ SCM BERTA
7
2. Refinancing the Business
PRIVATE PLACEMENT RIGHTS OFFERING
simultaneous
►
►
US$10 million financings US$26 million
at C$0.12 per share at C$0.05 per share
(26% premium) sub-guaranteed
Placement Prospectus-exempt rights offering
US$10 million
98% basic and additional subscription
take-up
Repay convertible Sub-guaranteed by Tembo
US$2 million
Marimaca Proceeds Marimaca Proceeds
• Acquire surrounding ground • Fully fund Phase II exploration
• Commence Exploration • Repay Greenstone debt
3. Acquiring Greater Marimaca Project Area
Optioned
January 2018
$6.5 million
Acquired
August 2018
$6 million
Optioned
November 2017
$6 million
Owned 51%
75% with plant
25% to be
negotiated
9
THIS IS MARIMACA Geology Location Resource Discovered by Coro’s exploration In the Antofagasta Region, home to Copper oxide resource open at geologists, Marimaca has the the largest mines in Chile. Located depth and along strike, with further potential to be one of the most 14km from established deeper sulphides and regional significant new open-pittable copper infrastructure, 22km from a port & optionality to be explored. Potential oxide resources in Chile in recent 60 km from regional capital to be one of the most significant new times. At surface with straightforward Antofagasta with abundance of open-pittable copper discoveries in metallurgy and processing. available skills and labor. Chile.
Marimaca Location
Mejillones
MARIMACA
Ivan Plant
Mantos Blancos
Antofagasta
25 kmMining Properties
Sierra Medina
Mejillones
MARIMACA
Ivan Plant
Mantos Blancos
Antofagast
a
25 Km 12Discovery “Section”
Observation Point: Looking South
Goethite>hematite + Copper oxides
Albite / Chlorite – Strong parallel fracture
Approximate 280 m true thickness
Hanging – Wall alteration:
Chlorite/sericite/albite (pyrite)
Moderate parallel fracture
Foot-Wall alteration:
Especularite/albite/chlorite
150 m: 0.36%CuT/ 0.24%CuS Minor parallel fracture
(including 85 m: 0.48%CuT/0.32%CuS)
30 m: 0.53%CuT/ 0.43%CuS
E 200 metres W
Note: wall rock is monzodiorite intruded by mafic and dacitic sills and dykes
13Geological Setting: Copper Manto Deposits
Mantos de la Luna
Michilla
MARIMACA
Mantos Blancos
(Jurassic volcanics and intrusives:
180-170 my, late dyke swarms approximately 140 my)
14Surface Geology
Lithology Structures
ion
alterat
g Wall
Hangin
200 m3D Rock type distribution
MDI
PMD
500 m
3D Rock types 3D Dykes and Sills
16Main Rock Types
Monzodiorite Microdiorite Andesite porphyry
Monzodiorite porphyry Dacitic porphyry
17Copper Oxide Mineralogy
Brochantite Chrysocholla
18Copper oxide mineralogical zones
Brochantite Chrysocholla WAD
200 m
19NW – SE long section copper oxide mineral zones
Chrysocholla
NW Wad SE
Brochantite
200 m
20Drilling 2016-2017
2016 RC: 11,620 metres
Diamond: 2,008 metres
2017 RC: 11,928 metres
Diamond: 2,050 metres
RC: 113 holes
23,548 metres
Total Diamond: 16 holes
4,058 metres
Total: 129 holes
27,606 metres
21NW – SE long section CuT (%) block model
NW SE
CuT
200 m
22Marimaca 1-23 Mineral Resources
Mineral Zones CuT (%) Block Model CuT
Range
Chrysocholla
Brochantite
200 M
Wad
Total Resource Summary (NCL 2018)
COG Measured + Indicated Inferred Measured + Indicated + Inferred K Tonnes
% TCu M Tonnes % CuT % CuS M Tonnes % CuT % CuS M Tonnes % CuS % CuS Cu
0.1 58.6 0.55 0.37 17.3 0.36 0.21 75.9 0.51 0.33 384.6
0.2 46.8 0.65 0.44 11.0 0.48 0.28 57.8 0.62 0.41 357.0
0.3 37.4 0.75 0.52 7.7 0.58 0.34 45.1 0.72 0.49 325.2
23District Exploration Program, continued…
24Drilling Program: Long Section View
1,180 masl
950 masl
2 km
CuT
Range
3
1
0.8
0.6
0.4
0.2
0.1 ATAHUALPA LA ATOMICA MARIMACA
25Proving Marimaca
Marimaca Atahualpa Olimpo Olimpo
La Atómica Atahualpa Sorpresa I Sorpresa II
1-23 East South North
Mapping & Sampling - NA NA Q3 ’18 Q4 ’18 Q4 ’18 Q1 ’19 Q1 ’19
Access & Platforms - Q3 ’18 Q4 ’18 Q4 ’18 Q4 ’18 Q1 ’19 Q1 ’19 Q1 ’19
Drilling - Q4 ’18 Q4 ’18 Q1 ’19 Q1 ’19 Q1 ’19 Q1 ’19 Q2 ’19
Drilling (holes) - 52 51 19 18 12 16 15
Drilling (metres) - 12,000 12,310 5,300 4,200 3,000 4,400 4,150
Drilling Results - Q4 ’18 Q1 ’19 Q2 ’19 Q2 ’19 Q2 ’19 Q2 ’19 Q3 ’19
Preliminary Reports - - - - Q2 ’19 Q2 ’19 Q2 ’19 Q3 ’19
Modelling - Q4 ’18 Q2 ’19 - - - -
Resource Estimate Q2 ’18 Q1 ’19 Q2 ’19 Q3 ’19 - - - -
Combined Resource
Estimate
H2 ’19 - - - -
26INVEST Marimaca Project Coro Corporate Time to Invest Potential to be one of the best new Realigned corporate & capital Positive copper fundamentals, well- open-pittable copper oxide deposits structures to focus on delivering funded and clearly defined discovered in Chile in recent times. value from Marimaca. Recapitalized, exploration program to increase The project benefits from an with a new shareholder, Board & Marimaca’s resource base. Potential unrivalled location with infrastructure management team, Coro is set for to drive short-term value with access in a world-class jurisdiction. growth. longer-term optionality.
www.coromining.co
m
www.coromining.com
unearth@coromining.com
@unearthcoro
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