Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:
DRI)(OTCQX: DRIFF)(FRANKFURT: DO5) is pleased to announce that it
has received additional results from Minera Afrodita's drilling at
the Lucero target in the Cordillera del Condor Project, northern
Peru. Lucero is located in the Taricori Block within an extensive
land position that comprises 1,050 square kilometres and 135
kilometres of strike length. Dorato has a right to acquire 100% of
Minera Afrodita.
Lucero is a strongly mineralized system, with three distinct
types of mineralization, interpreted to be intrusion or
porphyry-related, identified to date (Figure 1, Schematic Section:
http://media3.marketwire.com/docs/678657FIG1.jpg):
Skarn Mineralization - Skarn mineralization in the form of
semi-massive and massive pyrite, pyrrhotite, chalcopyrite and
magnetite has formed within limestone and interbedded
limestone-arenite. This mineralization forms the uppermost,
near-surface layer at Lucero. Skarn mineralization is present over
900 x 400 metres, with better grades thought to be focussed within
a 500 x 200 metre area. This mineralization is open to the west and
north. Best mineralization intersected to date is 60 metres grading
0.88 g/t gold and 0.53% copper (see Figure 5:
http://media3.marketwire.com/docs/678657FIG5.jpg).
Sediment-Hosted Mineralization - Calcareous arenite underlies
the main skarn horizon and contains disseminated and fine stockwork
chalcopyrite-pyrite extending through the sequence and into the
underlying granodiorite. Moving north from known skarn
mineralization, hole LUC-013 demonstrates mineralization within the
sandstone becoming more extensive and higher grade: 57 metres
grading 0.31 g/t gold and 0.20% copper. This suggests that the
arenite could host mineralization to the north of the skarn zone
and opens up an additional target currently estimated as 400 x 300
metres in size (Figures 2 and 3:
http://media3.marketwire.com/docs/678657FIG2.jpg /
http://media3.marketwire.com/docs/678657FIG3.jpg).
Porphyry Copper-Gold Mineralization - All drillholes at Lucero
have intersected disseminated chalcopyrite hosted in potassic
alteration typical of porphyry copper-gold systems. This alteration
and mineralization has been intersected in arenite (as described
above) and in deeper holes that penetrated to the underlying Zamora
granodiorite. Critically, the chalcopyrite to pyrite ratio in the
potassic alteration is mostly greater than 1, suggesting that the
drilling is centred over a porphyry system. Recent surface mapping
has determined the western and eastern limits of the potassic
alteration, which extends for more than a kilometre, but the
northern and southern extents are still open. Currently hole LUC-19
is testing the extent of copper-gold porphyry mineralization at
depth (Figures 1 and 2:
http://media3.marketwire.com/docs/678657FIG1.jpg /
http://media3.marketwire.com/docs/678657FIG2.jpg).
All three styles of mineralization are interpreted to be
manifestations of a large (greater than 1 kilometre diameter)
porphyry copper-gold system. All holes that have been drilled
through the overlying sandstone into the granodiorite basement have
intersected potassic alteration with disseminated chalcopyrite and
pyrite mineralization. Recent mapping has determined the skarn
overlies the centre of the potassic alteration and on-going
drilling will target potential economic mineralization within this
broad alteration zone. In addition, the results from hole LUC-13
confirm that significant disseminated gold-copper mineralization
extends vertically down and horizontally to the north from the
skarn.
"Results from LUC-13 broaden the target at Lucero." stated John
Drobe, Dorato's Vice-President Exploration. "There are three styles
of mineralization to test: high-level gold-copper skarn,
disseminated gold-copper hosted by calcareous sandstone, and the
igneous porphyry copper-gold source of this extensive
mineralization."
Ongoing Work
Additional exploration work at Lucero is focussed on defining
the limits of the three targets described above:
1) gold-skarn mineralization lying west and upslope from drilling completed
to date: at least 6 additional holes to be drilled at approximately 100-
metre spacing
2) sediment-hosted disseminated mineralization within the arenite to the
north of the skarn: at least 2 holes to be drilled west and north of LUC-13
3) underlying copper-gold porphyry mineralization: LUC-19 to be completed
and at least 1 additional deep test to be completed under the area of
sediment-hosted mineralization.
Additional drilling at Lucero will be contingent on results.
Work programs are ongoing throughout the 1,050 km2 prospective
Gold-Copper belt in Northern Peru, with current focus on the
Cobrecon target. Results from target screening in the Cobrecon area
(Target T4) are expected in the coming weeks and drill-testing will
be completed as soon as possible thereafter. Airborne geophysical
data collection and analysis in ongoing and is a key component of
Minera Afrodita's exploration strategy. Approximately 75% of the
geophysical data acquisition has been completed and the remainder
will be done by the end of the first quarter of this year.
Results Detail
Hole LUC-13 is collared north of all other drill holes, at the
base of a marble horizon that appears to be the main skarn host at
Lucero (Figure 3:
http://media3.marketwire.com/docs/678657FIG3.jpg). The hole
intercepted 57.0 metres of disseminated and veinlet mineralization
that assayed 0.31 g/t gold and 0.20% copper, between 63.2 to 120.2
metres. Another 13.6-metre interval between 169.6 and 183.2 metres
assayed 0.23 g/t gold and 0.18% copper.
The two north eastern-most holes, LUC-15 and 16, intercepted the
outer edge of the skarn, mostly semi-massive magnetite and pyrite.
Thin intervals of disseminated copper-gold mineralization occur
within the arenite (Figure 4:
http://media3.marketwire.com/docs/678657FIG4.jpg).
Holes LUC-14 and 18 were drilled from the same platform as holes
LUC-10 and 12. Hole LUC-14 intercepted a thick wedge of marble with
a thin barren skarn envelope; in the arenite below this, at 191
metres, it intersected 5.1 metres of 1.08 g/t gold. Hole LUC-18 was
directed south from this platform to test the wedge of skarn that
is eroded from above the Trench 1 area (and holes LUC-01 to 3;
Figure 5: http://media3.marketwire.com/docs/678657FIG5.jpg). At the
base of the marble horizon it intersected 20 metres of semi-massive
pyrite and chalcopyrite that assayed 0.61 g/t gold and 0.49 %
copper, including two higher-grade intervals of 1.5 metres of 2.52
g/t gold and 2.19% copper, and 2.13 metres of 1.86 g/t gold and
0.99% copper.
----------------------------------------------------------------------------
----------------------------------------------------------------------------
From (m) To (m) Width Au g/t Cu % Ag ppm
----------------------------------------------------------------------------
LUC-13
105/-50 63.18 120.15 56.97 0.309 0.2020 6.0
----------------------------------------------------------------------------
and 169.65 183.21 13.56 0.230 0.1842 2.7
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LUC-14
285/-50 192.92 196.00 5.08 1.075 0.1448 11.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LUC-15
195/-50 85.80 94.62 8.82 0.190 0.1619 4.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LUC-16
195/-85 131.68 146.00 14.32 0.230 0.0821 2.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LUC-17
285/-50 0 8.71 8.71 0.373 0.2250 5.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LUC-18
195/-50 98.38 118.40 20.02 0.609 0.4868 4.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
including 104.90 106.40 1.50 2.52 2.19 15.7
----------------------------------------------------------------------------
and 115.67 117.80 2.13 1.86 0.99 7.3
----------------------------------------------------------------------------
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
supreme 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.
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 604-408-7499 (FAX)
info@doratoresources.com 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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