Junior roundup: Coro, Wealth, Argentex, Condor, Caza, Cayden, Oro Mining, Continental

Vancouver-based Coro Mining (TSX: COP) has paid US$4mn to compatriot Lumina Copper (TSX-V: LCC) under the terms of the purchase agreement for the San Jorge copper-gold project in Mendoza, Argentina. "This payment to Lumina demonstrates our continued confidence in the San Jorge project and the outcome of the environmental impact study ratification process," Coro CEO Alan Stephens said in a statement. "We understand that the review of the project by various committees of the lower chamber of the provincial legislature of Mendoza is nearing its end and that, once complete, the chamber would be in a position to vote on the ratification," he said. In April 2008, Coro completed a preliminary economic assessment which contemplated production of 39,500t/y copper and 39,000oz/y gold over a 16-year mine life. San Jorge has a measured and indicated sulfide resource of 2.15Blb (975,224t) copper and 1.44Moz gold, as well as an inferred sulfide resource of 1.28Blb copper and 0.8Moz gold. In addition, the project has a measured and indicated oxide resource of 0.42Blb copper and 0.28Moz gold. Under the terms of the option agreement, Coro has paid US$7.5mn and issued 1mn shares, and has the following payments outstanding: US$5mn in May 2012, and US$5mn in May 2013, less the aggregate deemed value of the previously issued common shares. Coro will also pay an NSR of 1.5% on all non-copper production from San Jorge. *** Vancouver-based Wealth Minerals (TSX-V: WML) announced diamond drill results from its Bororo Nuevo uranium project in Chubut, Argentina. Highlights included 5.05m at 0.09%, including 1.85m of 0.19% at the Alpha zone, Wealth said in a statement. *** Vancouver's Argentex Mining (TSX-V: ATX, OTC.BB: AGXM) released additional results from the ongoing 2011 exploration program at its Pingüino project in Santa Cruz, Argentina. Highlights included 8m of 470g/t silver and 1.64g/t gold, and 7m of 122g/t silver and 2.77g/t gold at the Marta Centro vein, Argentex said in a statement. The firm's current exploration program at Pingüino is scheduled to include approximately 17,000m of drilling and 12,000m of trenching. To date, Argentex has completed 4,851m of diamond drilling in 26 holes and 11,195m of RC drilling in 162 holes. *** Vancouverite Condor Resources (TSX-V: CN) has completed a 1,200m drilling program at the Pucamayo West gold-silver prospect in Peru's Ica region. Initial results are expected to be released within the next couple of weeks, Condor said in a statement. *** Vancouver's Caza Gold (TSX-V: CZY) has begun drilling at the Santiago gold project in Chihuahua, Mexico. A total of 3,000m of core drilling will be completed in the Cliff vein zone and to the southwest in the Road zone, Caza said in a statement. Caza has an option to purchase a 100% interest in the property subject to a 2% NSR. *** Canada's Cayden Resources (TSX-V: CYD) has received results for the first 20 drill holes from the Morelos Sur gold project in Mexico. The program was designed to confirm, expand and test new targets in the Mina Verde area. Drilling returned 15.3m of 7.3g/t, 20.2m of 3.3g/t, 9.6m of 5.8g/t and 6m grading 2.3g/t, Cayden said in a statement. Cayden recently added an RC rig to the area to increase drilling capacity. Over 10,000m have been drilled to date. *** Canada's Oro Mining (TSX-V: OGR) provided a progress report on its Taunus project gold in Mexico. Sonic drilling returned 167m of 2.0g/t, including 28.5m of 6.9g/t. This hole has discovered mineralization in an untested area of the Taunus resource model, and is indicating a potential link between the Eldorado and HS zones, Oro said in a statement. The company also discovered shallow high-grade gold mineralization in an area recently accessible due to the completed dewatering of the Taunus pit. A second sonic rig is being mobilized to complete the planned 5,000m drilling program by the end of Q2. Oro has also signed a surface agreement with the local community allowing the company to access and mine the Taunus deposit. The company is now advancing the project with an aim of reaching a production decision. *** Toronto-based Continental Gold (TSX: CNL) announced results for 25 diamond drill holes from the ongoing program at its Buriticá project in Colombia. Over 56,000m of diamond drilling have been completed to date and nine drills are currently working on a 50,000m surface and underground program for 2011. Highlights included 10.2m at 44.8g/t and 23.7g/t silver; 5.05m of 40.7g/t gold and 48.8g/t silver; 5.10m grading 84.9g/t gold and 38.9g/t silver; 14.5m at 21.6g/t gold and 53.5g/t silver, including 6.10m at 48.9g/t gold and 110g/t silver, Continental said in a statement.