Trading Symbol: TSX.V-CRD
VANCOUVER, Jan. 13 /CNW/ - Coronado Resources Ltd. is set to ship this month, an initial 558 tons of gold ore which is
stock piled on surface that has an average grade of .738 ounces of gold
per ton (25.31 g/mt au) to the "Golden Sunlight" for immediate
processing. Coronado has signed a contract with Barrick Gold Corp.'s
"Golden Sunlight" which recently reopened and is located only 26 miles
away from our "Madison Gold & Copper Project" in Montana, USA.
Additional gold ore is ready for extraction from the company's
underground development where numerous grab samples consistently
produced assay results of 1oz/t gold. This zone is directly below
hole10-02 that was announced in July, 2010 and reported a 70 foot
intercept with an average grade of 0.779 oz/t gold (26.71 g/mt au) and
assay recheck produced an average grade of .930 oz/t gold (31.89 g/mt
au) from the same intercept.
The company is continuing metallurgical work on the gold ore containing
more significant amounts of copper & silver in order to reach optimum
recovery. This ore will be shipped to the "Phillipsburg Mill" for
processing into concentrates that are planned to be sold to a smelter
in China similar as our previous copper shipments. Selling
concentrated ore to China will allow Coronado to receive payments for
gold, copper as well as silver credits.
Mr. John Di Cicco has been appointed to Vice President of Coronado
About: Coronado Resources Ltd. is a debt-free Canadian-based exploration,
development and mining company trading on the TSX Venture Exchange. Its
wholly-owned Madison property in Montana, USA is receiving revenue from
high-grade gold and copper shipments which have, since 2008, funded the
development of its underground workings to a vertical depth of 400 ft.
while limiting share dilution. Coronado Resources continues to make
great progress, perusing and evaluating a number of mining concessions
in prolific gold mining areas of the Philippines.
Assay work was completed by Norris Labs, a local Montana lab using the
dry assay method. Norris Labs is not registered by the international
standards organization and are used due to proximity and quick
turnaround results. Eugene Larabie, P. Eng. is the "qualified person"
overseeing the project.
On Behalf of the Board
Eugene Larabie, P. Eng., President
Coronado Resources Ltd.
#507 - 595 Howe Street, Vancouver, BC V6C 2T5
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. The
foregoing information may contain forward-looking statements relating
to the future performance of Coronado Resources Ltd. Forward-looking
statements, specifically those concerned with future performance, are
subject to certain risks and uncertainties, and actual results may
differ materially. These risks and uncertainties are detailed from time
to time in filings with the appropriate securities commission.
SOURCE CORONADO RESOURCES LTD.
For further information:
Coronado Resources Ltd. at email@example.com or telephone at 604-683-6338 or toll free at 800-811-2322 or visit website at www.coronadoresourcesltd.com