Corporate Presentation December 2018

Transcription

1 Corporate Presentation December 2018

2 Disclaimer This presentation includes certain forward-looking statements about future events and/or financial results which are forwardlooking in nature and subject to risks and uncertainties. Such forward-looking statements or information, including but not limited to those with respect to the development of the Marimaca project, metal prices, metallurgical results and resource estimates, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements include without limitation, statements regarding the company s plans, goal or objectives and future completion of mine feasibility studies, mine development programs, capital and operating costs, production, potential mineralization, resources and reserves, exploration results and future plans and objectives of Coro Mining Corp. Forward-looking statements can generally be identified by the use of forward-looking terminology such as may, will, expect, intend, estimate, anticipate, believe, or continue or the negative thereof or variations thereon or similar terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause results to differ materially from expectations include risks associated with mining generally and predevelopment stage projects in particular. The company is an exploration, development & mining company. Many references to resources and other geological and technical information contained herein have not been verified by an independent expert and are either not in accordance with the requirements under National Instrument or have not been prepared in accordance with a preliminary or final feasibility study. Potential investors should conduct their own investigations as to the suitability of investing in securities of Coro Mining Corp. The potential target tonnage and grade noted for the Marimaca project are conceptual in nature as there has been insufficient exploration to define mineral resources, and it is uncertain if further exploration will result in these targets being delineated as mineral resources. Unless otherwise indicated, Coro has prepared the technical information in this presentation ( Technical Information ) based on information contained in the technical reports and news releases (collectively the Disclosure Documents ) available under Coro Mining Corp. s company profile on SEDAR at Each Disclosure Document was prepared by or under the supervision of a qualified person (a Qualified Person ) as defined in National Instrument Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ( NI ). For readers to fully understand the information in this presentation, they should read the Technical Reports (available on in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this presentation which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Disclosure Documents are each intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Information is subject to the assumptions and qualifications contained in the Disclosure Documents. All Dollar amounts in this presentations are US Dollars unless otherwise stated. Sergio Rivera, Vice President Exploratin of Coro Mining Corp, a geologist with more than 35 years of experience is the Qualified Person for the purposes of NI and has approved this written disclosure. 2

3 WE ARE CORO Why Copper? Demand is strong due to population growth, urbanization and electrification. However a supply deficit is likely due declining production & new resources. Why Exploration? More value is created in the discovery, exploration and resources growth phases of a mining project than any other. The Marimaca project has this potential with a limited risk profile. Why Chile? As the world s largest copper producer, with established industrial & commercial infrastructure, Chile is a low-risk jurisdiction geared for exploration and mining.

4 Corporate Overview CAP STRUCTURE 100% MCAL MARIMACA Registered Office: Head Office: Vancouver Santiago 25%* Rising Star Copper (UK) Rising Star Copper (Chile) MCC SCM Berta 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 Cash US$15.5m (Dec 1, 2018) Debt $0m Shareholders Greenstone 55.6% Tembo 15.7% Mackenzie 5.3% BOARD Colin Kinley Independent Chairman Petra Decher Independent Director Tim Petterson Independent Director Michael Haworth Director Alan Stephens Director Luis Tondo Director * Pending completion of asset transfers 4

5 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

6 Corporate & Project Objectives & Strategy OBJECTIVE STRATEGY OWNERSHIP 100% ownership across project area Shift from control to ownership with property stakeholders RESOURCES Establish resource for oxides and understand potential of sulphides Phase II exploration program to determine resource and optionality VALUE As project scale is defined, develop plans to optimize value Realize geological, geographical, capital and risk premiums STEWARDSHIP Implement high standards of environmental, social responsibility and governance 6

7 1. Focusing on Marimaca MARIMACA Marimaca identified as new core asset STRATEGIC REVIEW Funds raised to acquire remaining land claims and consolidate Marimaca land package PLACEMENT Funds raised for Marimaca Phase II exploration program RIGHTS OFFERING EXPLORATION PROGRAM PHASE II EXPLORATION INTERIM RESULTS EXPLORATION PROGRAM PHASE III APR 18 AUG 18 SEP 18 OCT 18 DEC 18 JAN 19 SCM Berta ring-fenced with new finance and corporate restructuring SCM Berta care and maintenance SCM Berta ownership reduces to 25% SCM Berta long-term Plan SCM BERTA 7

8 2. Refinancing the Business PRIVATE PLACEMENT RIGHTS OFFERING US$10 million at C$0.12 per share (26% premium) simultaneous financings US$26 million at C$0.05 per share sub-guaranteed Placement US$10 million Prospectus-exempt rights offering 98% basic and additional subscription take-up Repay convertible US$2 million Sub-guaranteed by Tembo Marimaca Proceeds Marimaca Proceeds Acquire surrounding ground Commence Exploration Fully fund Phase II exploration Repay Greenstone debt

9 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

10 THIS IS MARIMACA Geology Discovered by Coro s exploration geologists, Marimaca has the potential to be one of the most significant new open-pittable copper oxide resources in Chile in recent times. At surface with straightforward metallurgy and processing. Location In the Antofagasta Region, home to the largest mines in Chile. Located 14km from established infrastructure, 22km from a port & 60 km from regional capital Antofagasta with abundance of available skills and labor. Resource Copper oxide resource open at depth and along strike, with further deeper sulphides and regional optionality to be explored. Potential to be one of the most significant new open-pittable copper discoveries in Chile.

11 Marimaca Location Mejillones MARIMACA Ivan Plant Mantos Blancos Antofagasta 25 km

12 Mining Properties Mejillones Sierra Medina MARIMACA Ivan Plant Mantos Blancos 25 Km Antofagast a 12

13 Geological Setting: Copper Manto Deposits Mantos de la Luna Michilla MARIMACA Mantos Blancos (Jurassic volcanics and intrusives: my, late dyke swarms approximately 140 my) 13

14 Surface Geology Lithology Structures Hanging Wall alteration 200 m

15 3D Rock type distribution PMD MDI 500 m 3D Rock types 3D Dykes and Sills 15

16 Main Rock Types Monzodiorite Microdiorite Andesite porphyry Monzodiorite porphyry Dacitic porphyry 16

17 Copper Oxide Mineralogy Brochantite Chrysocholla 17

18 Copper oxide mineralogical zones Brochantite Chrysocholla WAD 200 m 18

19 NW SE long section copper oxide mineral zones NW Chrysocholla Wad SE Brochantite 200 m 19

20 Drilling RC: 11,620 metres Diamond: 2,008 metres 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 20

21 NW SE long section CuT (%) block model NW SE CuT 200 m 21

22 Marimaca 1-23 Mineral Resources Mineral Zones CuT (%) Block Model CuT Range Chrysocholla 200 M Brochantite Wad Total Resource Summary (NCL 2018) COG % TCu Measured + Indicated Inferred Measured + Indicated + Inferred K Tonnes M Tonnes % CuT % CuS M Tonnes % CuT % CuS M Tonnes % CuS % CuS Cu

23 District Exploration Program, continued 23

24 Drilling Program: Long Section View 1,180 masl 2 km 950 masl CuT Range ATAHUALPA LA ATOMICA MARIMACA 24

25 Proving Marimaca Marimaca 1-23 La Atómica Atahualpa Atahualpa East Sorpresa I Sorpresa II Olimpo South Olimpo 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) 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 Q Resource Estimate Q2 18 Q1 19 Q2 19 Q Combined Resource Estimate H

26 INVEST Marimaca Project Potential to be one of the best new open-pittable copper oxide deposits discovered in Chile in recent times. The project benefits from an unrivalled location with infrastructure access in a world-class jurisdiction. Coro Corporate Realigned corporate & capital structures to focus on delivering value from Marimaca. Recapitalized, with a new shareholder, Board & management team, Coro is set for growth. Time to Invest Positive copper fundamentals, wellfunded and clearly defined exploration program to increase Marimaca s resource base. Potential to drive short-term value with longer-term optionality.

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