Cordoba Minerals commences expanded drilling program at the San Matias Copper-Gold Project in Colombia
Cordoba Minerals commences expanded drilling
program at the San Matias Copper-Gold Project
in Colombia
TORONTO, ONTARIO, February 1, 2 017: Cordoba Minerals Corp. (TSX-V:
CDB; OTCQX: CDBMF) (“Cordoba” or the “Company”) and its joint-venture
partner, High Power Exploration Inc. (" HPX"), a private mineral exploration
company indirectly controlled by mining entrepreneur Robert Friedland’s
Ivanhoe Industries, LLC, are pleased to announce that Major Drilling
International Inc. (“Major Drilling”) has been engaged to expand Cordoba’s
exploration program providing a more powerful drill rig that will allow for the drill
testing of deeper targets at the San Matias Copper-Gold Project in Colombia.
The first two Major Drilling rigs are being mobilized to site and drilling is
expected to begin next week. Additional rigs are expected to be mobilized to
site in the near future.
Following Cordoba’s news release on January 23, 2017, announcing the
discovery of bonanza-grade gold vein s at Alacran where hole ACD036
intersected 0.9 metres of 4,440 g/t gold, 10.25% copper, 24.7% zinc and 347
g/t silver, drilling at Alacran will be focused on testing the extent of the newly
discovered, bonanza-grade, structurally controll ed, Carbonate Base Metal
(CBM) veins, and the up-d ip eastern extensions of the Alacran deposit where
hole ACD033 intersected 108 metres of 1.26% copper and 0.87 g/t gold and
the down dip extensions on the western side.
Mario Stifano, President and CEO of Cordoba, commented: “We look forward to
restarting our aggressive drilling program at our highly prospective San Matias
Copper-Gold Project, which will focus on expanding the size and scope of
mineralization at Alacran, as well as testing other high priority targets at San
Matias that have previously yielded la rge widths of high- grade copper-gold
mineralization.”
Based in New Brunswick, Canada, Major Drilling is one of the world's largest
metals and minerals contract drillin g services companies and who have a
significant presence in Colombia.
Alacran Copper-Gold System
The Alacran copper-gold system is located within the San Matias Copper-Gold Project in the
Department of Cordoba, Colombia. The San Matias Copper-Gold Project comprises a 20,000-
hectare land package on the inferred northern extension of the richly endowed Mid-Cauca Belt
in Colombia. The project contains several known areas of porphyry copper-gold
mineralization, copper-gold skarn mineralization and vein-hosted, gold-copper mineralization.
The Alacran system is located on a topographic high in gently rolling topography, optimal for
potential open-pit mining. Access and infrastructure are considered favourable. Initial inferred
resources at Alacran are 53.5 million tonnes of 0.70% copper and 0.37 g/t gold . Alacran is
approximately two kilometres southwest of the Company’s Montiel porphyry copper-gold
discovery, where drilling interested 101 metres of 1.0% copper and 0.65 g/t gold , and two
kilometers northwest of the Costa Azul por phyry copper-gold discovery, where drilling
interested 87 metres of 0.62% copper and 0.51 g/t gold (Figure 1). The copper-gold
mineralization at Alacran is associated with stratabound replacement of a marine volcano-
sedimentary sequence in the core of a faulted antiformal fold structure. The deposit comprises
moderately to steeply-dipping stratigraphy that is mineralized as a series of sub-parallel
replacement-style zones and associated dissem inations. The copper-gold mineralization is
composed of multiple overprinting hydrothermal events with the main ore phase comprised of
chalcopyrite-pyrrhotite-pyrite that appears to overprint an early magnetite metasomatic event.
Joint Venture Agreement
The San Matias Project is a joint venture between Cordoba and HPX. HPX has earned a 51%
interest in the San Matias Project by spending a cumulative total of C$19 million on
exploration expenditures on the project. Cordoba and HPX have entered Phase Three of their
Joint Venture Agreement, whereby HPX can earn a 65% interest in the project by completing
a Feasibility Study.
About High Power Exploration (HPX)
HPX is a privately owned, metals-focused exploration company deploying proprietary in-house
geophysical technologies to rapidly evaluate bur ied geophysical targets. The HPX technology
cluster comprises geological and geophysical sy stems for targeting, modelling, survey
optimization, acquisition, processing and interpretation. HPX has a highly experienced board
and management team led by Co-Chairman and Chief Executive Officer Robert Friedland,
President Eric Finlayson, a former head of expl oration at Rio Tinto, and co-chaired by Ian
Cockerill, a former Chief Executive Officer of Gold Fields Ltd. For further information, please
visit www.hpxploration.com.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mi neral exploration company focused on the
exploration and acquisition of copper and gold projects in Colombia. Cordoba has a joint
venture with High Power Exploration on the highly prospective, district-scale San Matias
Copper-Gold Project located at sea level with excellent infrastructure and near operating
open-pit mines in the Department of Cordoba. For further information, please visit
www.cordobaminerals.com.
Figure 1: Project location and licences on magnetics.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.
Email: [email protected]
Website: www.cordobaminerals.com
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