Dorato Signs Option Agreement For Additional Land Package in Cordillera del Condor District, NW Peru
11 Junio 2010 - 8:15AM
Marketwired
Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:
DRI)(OTCQX: DRIFF)(PINK SHEETS: DRIFF)(FRANKFURT: DO5) is pleased
to announce that it has signed an option agreement (the "Option
Agreement") to acquire an additional land package in the Cordillera
del Condor District of northwest Peru. The property consists of
sixteen mineral rights, comprising an aggregate of 13,903.56
hectares. Under the terms of the Option Agreement, the Company will
earn a 100% interest in the property.
In accordance with TSX Venture Exchange Policies, this option
agreement qualifies as an Expedited Transaction and is subject to
exchange approval.
Terms of the Agreement
The material terms of the agreement are as follows:
--------------------------------------------------------
Due within 10 days of TSX-V Approval $200,000
--------------------------------------------------------
First Anniversary 50,000 shares
--------------------------------------------------------
Second Anniversary 200,000 shares
--------------------------------------------------------
Third Anniversary 750,000 shares
--------------------------------------------------------
There was no finder's fee paid by the Company in connection with
the Option Agreement. The option will only be exercised following
issuance of a Supreme Decree from the Peruvian Government.
"Dorato is delighted to announce the signing of an option to
acquire additional mineral rights in the Cordillera del Condor,"
stated Keith Henderson, Dorato's President and CEO. "With rights
over an aggregate 950 square kilometres, the Company has secured
rights to a highly strategic property and will ultimately control
the largest land position in the Cordillera. Ongoing drilling by
Minera Afrodita at Taricori is demonstrating the prospectivity of
this emerging belt and the acquisition of this extension provides
access to additional strategic property along the critical Fruta
Del Norte fault trend."
To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/DRIFF611.jpg
Cordillera del Condor Background
The Cordillera del Condor District 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 small-scale
but high-grade, gold production is reported to have exceeded
100,000 ozs. per year.
Modern exploration on the Ecuadorian side of the border has
recently resulted in the discovery of multiple world-class gold and
base metal-bearing deposits, such as Kinross Gold Corp's Fruta del
Norte Gold deposit (inferred resources of 13.6 million contained
ounces gold at 7.23 g/t gold), Corriente Resources Inc.'s Mirador
Copper-Gold porphyry deposit (measured & indicated resources of
438 million tonnes at 0.61% copper, 0.19 g/t gold, and inferred
resources of 235 million tonnes at 0.52% copper, 0.17 g/t gold) and
the Mirador Norte Copper-Gold porphyry deposit (171 million
indicated tonnes at 0.51% copper, 0.09 g/t gold plus 46 million
inferred tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals
& Mining Inc's Jerusalem Gold deposit in the Chinapintza
district (measured & indicated resources of 0.58 million ounces
gold at 12.4 g/t gold plus an inferred resource of 0.71 million
ounces at 11.5 g/t gold). The technical information with respect to
the above deposits was obtained through the respective company's
public disclosure documents available on SEDAR.
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 950
square kilometres - providing the Company 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 J. Henderson, President and CEO
Cautionary Statement
This press release contains "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and "forward looking information" within the
meaning of the British Columbia Securities Act and the Alberta
Securities Act. Generally, the words "expect", "intend",
"estimate", "will" and similar expressions identify forward-looking
information. By their very nature, forward-looking statements are
subject to known and unknown risks and uncertainties that may cause
our actual results, performance or achievements, or that of our
industry, to differ materially from those expressed or implied in
any of our forward looking information. Statements in this press
release regarding Dorato's business or proposed business, which are
not historical facts are forward-looking information that involve
risks and uncertainties, such as estimates and statements that
describe Dorato's future plans, objectives or goals, including
words to the effect that Dorato or management expects a stated
condition or result to occur. These forward-looking statements
include, but are not limited to, statements related to: the terms
of the Option Agreement, TSX Venture Exchange approval, the
issuance of a Supreme Decree by the Peruvian Government and the
prospectivity of the property. Since forward-looking statements
address events and conditions, by their very nature, they involve
inherent risks and uncertainties. Factors related to such risks and
uncertainties, and underlying estimates and assumptions include,
among others, the following: the ability of Dorato to advance
development of its properties; price volatility of gold and other
metals; impact
of any hedging activities, between actual and estimated
resources, and between actual and estimated metallurgical
recoveries; mining operational risk; regulatory restrictions,
including environmental regulatory restrictions and liability;
risks of sovereign investment; speculative nature of mineral
exploration; defective title to mineral claims or property,
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments; technological
or operational difficulties or inability to obtain permits
encountered in connection with exploration activities; and labour
relations matters. Actual results in each case could differ
materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date they
are made. All of the Company's Canadian public disclosure filings
may be accessed via www.sedar.com and readers are urged to review
these materials, including the technical reports filed with respect
to the Company's mineral properties. The foregoing commentary is
based on the beliefs, expectations and opinions of management on
the date the statements are made. The Company disclaims any
intention or obligation to update or revise forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
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 Dorato Resources Inc. Michael Pound Manager -
Investor Relations (604) 638-5817 (604) 408-7499 (FAX)
info@doratoresources.com www.doratoresources.com
(USOTC:DRIFF)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
(USOTC:DRIFF)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024