Cordoba Minerals Continues to Intersect High- Grade Copper-Gold Mineralization Within the Core of the Alacran Deposit at its 100%-owned San Matias Copper-Gold-Silver Project in Colombia ACD133 Reports 150.60 Metres of 0.86% Copper Equivalent
Cordoba Minerals Continues to Intersect High-
Grade Copper-Gold Mineralization Within the
Core of the Alacran Deposit at its 100%-owned
San Matias Copper-Gold-Silver Project in
Colombia
ACD133 Reports 150.60 Metres of 0.86% Copper Equivalent
1
(0.72% Copper, 0.27 g/t Gold and
5.27 g/t Silver)
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2022) -
Sarah Armstrong-Montoya,
President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB:
CDBMF) (otherwise "Cordoba" or the "Company"),
is pleased to report additional assay results
received from the ongoing initial in-fill drilling program at the 100%-owned San Matias Copper-Gold-
Silver Project.
Highlights:
Significant intercepts returned from the additional drill holes include (Table 1):
ACD133 - 150.60 metres ("m") from 40.45 m to 191.05 m with 0.72% copper ("Cu"), 0.27 g/t
gold ("Au") and 5.27 g/t silver ("Ag"), or 0.86% copper equivalent
1
("CuEq
"
), including:
44.38 m from 46.33 m to 90.71 m with 1.48% Cu, 0.62 g/t Au and 11.23 g/t Ag, or
1.81% CuEq
1
,
16.00 m from 114.00 m to 130.00 m with 0.87% Cu, 0.41 g/t Au and 4.56 g/t Ag, or
1.09% CuEq
1
.
Assay results continue to demonstrate high-grade copper-gold mineralization within the Alacran
Deposit and confirm the strong correlation with the Pre-Feasibility Study ("PFS") block model.
"As our initial drill program is nearing completion, I'm delighted that the assay results continue to confirm
the PFS block model, and highlight the quality of the project," commented Ms. Sarah Armstrong-
Montoya, President and CEO of Cordoba. "In addition, our teams are advancing the Feasibility Study
technical program, Environmental Impact Assessment permitting, and community engagement activities
to move the project forward to the next milestone."
Assay results confirm the correlation with the PFS block model.
To date, Cordoba has completed 25,929 m in 127 diamond drill holes of the initial in-fill drilling
campaign (Figure 1). Assay results continue to demonstrate high-grade copper-gold mineralization
within the core of the Alacran Deposit and confirm the strong correlation with the PFS block model.
Drill hole ACD133 shows a strong correlation with the PFS block model by intersecting 150.60 m of the
tuffs and carbonaceous mudstone beds of "Unit 2" of the Alacran Deposit from 40.45 m to 191.05 m
(Figure 2), with highly enriched grades of copper, gold and silver that correlate well with the local block
model (Figure 3). Much of this shallow high-grade material starts within 30 m to 40 m of the surface.
Drill hole ACD147 returned 36.28 m of 1.40% CuEq
1
between 79.72 m and 116.00 m of a tuff bed within
"Unit 2", which has been partially replaced by semi-massive sulfide comprising pyrite, chalcopyrite and
pyrrhotite (Figure 4).
These assay results will be included in the next mineral resource model update after the completion of
the current drilling program. The ongoing Feasibility Study will determine the potential for early access to
the shallow high-grade zones.
The initial drilling program is nearing completion and will be transitioning to focus on the peripheral in-fill
areas of the Alacran Deposit to estimate the life of mine average grade of the deposit.
Table 1: Drill results of the latest drill holes from the 2022 Alacran Deposit in-fill drill program.
Hole
From
(m)
To
(m)
Interval
2
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
1
(%)
ACD127
19.50
121.91
83.11
0.77
0.30
4.72
0.92
Including
59.75
100.73
39.58
1.16
0.40
7.29
1.37
ACD131
7.00
100.30
93.30
0.69
0.27
4.86
0.84
Including
7.00
23.90
16.90
0.78
0.41
6.53
1.00
Including
46.40
100.30
53.90
0.95
0.34
6.31
1.13
ACD132
9.10
173.33
156.83
0.41
0.38
3.00
0.63
Including
10.60
80.40
62.40
0.63
0.84
4.66
1.13
Including
161.55
173.33
11.78
0.71
0.17
4.38
0.79
ACD133
40.45
191.05
150.60
0.72
0.27
5.27
0.86
Including
46.33
90.71
44.38
1.48
0.62
11.23
1.81
Including
114.00
130.00
16.00
0.87
0.41
4.56
1.09
ACD134
3.40
50.40
47.00
0.29
0.11
4.53
0.37
Including
26.20
31.30
5.10
0.89
0.23
5.16
0.99
ACD135
17.00
146.95
108.65
0.48
0.18
3.00
0.57
Including
69.45
140.95
71.50
0.57
0.22
3.42
0.68
ACD136
28.97
160.00
131.03
0.58
0.13
2.19
0.63
Including
75.00
120.00
45.00
0.96
0.19
2.74
1.02
ACD137
129.70
150.20
20.50
0.49
0.36
2.16
0.68
ACD139
10.87
152.22
141.35
0.55
0.18
4.35
0.64
ACD140
52.15
139.14
86.99
0.35
0.12
2.37
0.41
Including
121.14
139.14
18.00
0.69
0.22
5.90
0.81
ACD141
53.55
147.00
93.45
0.25
0.11
0.68
0.30
Including
53.55
88.50
34.95
0.38
0.22
0.78
0.49
Including
141.00
153.00
12.00
0.52
0.06
2.35
0.53
ACD142
0.00
21.00
21.00
0.22
0.75
5.10
0.73
Including
0.00
7.90
7.90
0.00
1.72
5.44
1.15
Including
12.50
21.00
8.50
0.55
0.21
6.43
0.67
ACD143
60.80
194.65
133.85
0.29
0.08
0.95
0.32
ACD144
12.00
100.80
83.90
0.46
0.21
3.51
0.58
Including
12.00
20.20
7.50
1.34
1.58
5.26
2.23
Including
81.00
97.00
16.00
0.79
0.14
6.84
0.85
ACD145
32.25
89.35
57.10
0.37
0.12
2.49
0.43
ACD146
138.65
165.10
26.45
0.39
0.30
1.97
0.55
ACD147
79.72
157.30
77.58
0.82
0.35
4.60
1.00
Including
79.72
116.00
36.28
1.17
0.47
5.43
1.40
Including
132.00
157.30
25.30
0.69
0.32
5.34
0.87
ACD148
46.00
143.60
97.60
0.42
0.15
4.93
0.50
Including
46.00
99.00
53.00
0.57
0.21
6.64
0.69
Including
134.10
143.60
9.50
0.89
0.24
9.93
1.03
ACD149
26.45
157.00
130.55
0.35
0.12
1.09
0.40
Including
26.45
43.10
16.65
0.48
0.23
1.52
0.60
Including
58.47
79.25
20.78
0.63
0.28
1.57
0.76
Including
88.00
101.40
13.40
0.82
0.23
2.20
0.91
ACD150
30.60
99.16
68.56
0.31
0.17
2.02
0.40
ACD151
79.88
186.10
106.22
0.27
0.24
3.31
0.42
Including
97.10
109.10
12.00
0.60
0.22
2.33
0.70
Including
159.60
186.10
26.50
0.23
0.55
8.99
0.60
ACD153
56.16
72.35
16.19
0.49
0.22
3.41
0.61
ACD154
56.00
162.30
106.30
0.43
0.20
2.82
0.54
Including
56.00
74.96
18.96
0.32
0.15
3.39
0.41
Including
128.20
162.30
34.10
0.98
0.47
5.93
1.22
Figure 1: Plan view of the significant intercepts from the additional drill holes.
To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/3116/146730_c1b672ce147b38ea_003full.jpg
Figure 2: Cross section A - A' of ACD 133
To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/3116/146730_c1b672ce147b38ea_004full.jpg
Figure 3: Hole ACD133 at 48.75 m showing a "Unit 2"
carbonaceous mudstone preferentially
replaced with chalcopyrite, mushketovite and pyrite. This sample was part of a 1.05 m interval
from 48.75 m to 49.80 m, which returned 4.25% Cu, 2.36 g/t Au, 27.2 g/t Ag, or 5.30% CuEq
1
.
To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/3116/146730_c1b672ce147b38ea_005full.jpg
Figure 4: Hole ACD147 at 105.5 m showing fine tuff replaced with semi-massive pyrite,
chalcopyrite and pyrrhotite. This sample was part of a 1 m interval from 105.50 m to 106.50 m,
which returned 1.93% Cu, 0.88 g/t Au, 11.45 g/t Ag, or 2.39% CuEq
1
.
To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/3116/146730_c1b672ce147b38ea_006full.jpg
Technical Information & Qualified Person
The technical information in this release has been reviewed, verified and approved by Mark Gibson,
P.Geo., a Qualified Person for the purpose of National Instrument 43-101 -
Standards of Disclosure for
Mineral Project
("NI 43-101"). Mr. Gibson is the Chief Operating Officer of Cordoba and of Ivanhoe
Electric Inc., Cordoba's majority shareholder, and is not considered independent under NI 43-101. Mr.
Gibson verified the data disclosed which includes a review of the sampling, analytical and test data
underlying the information and opinions contained therein.
Quality Assurance/Quality Control
Cordoba uses ALS Minerals Laboratory in Medellin, Colombia, ALS Minerals Laboratory in Lima, Peru,
and SGS Colombia S.A.S in Medellin, Colombia. These labs operate in accordance with ISO/IEC
17025.
Cordoba employs a comprehensive industry standard Quality Assurance/Quality Control (QA/QC)
program. PQ and HQ diamond drill core is cut lengthwise into 3 fractions, 1/4 is sent to geochemistry,
half is sent to metallurgy, and 1/4 is left behind in a secure facility for future assay verification.
Some sample shipments are delivered to ALS Minerals Laboratory in Medellin, Colombia where the
samples are prepared. Analysis occurs at the ALS Minerals Laboratory in Lima, Peru.
Alternate sample shipments are delivered to SGS Colombia S.A.S in Medellin, Colombia where the
samples are prepared and analyzed.
Both analytical labs determine the gold by a 50 g fire assay with an AAS finish. An initial multi-element
suite comprising copper, molybdenum, silver, and additional elements are analyzed by four-acid
digestion with an ICP-MS finish. All samples with copper values over 10,000 ppm and gold greater than
10 ppm are subjected to an overlimit method for higher grades, which also uses a four-acid digest with
an ICP-ES finish, and fire test with gravimetric finish. Certified reference materials, blanks, and
duplicates are randomly inserted at the geologist's discretion and QA/QC geologist's approval into the
sample stream to control laboratory performance (15%).
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and
acquisition of copper and gold projects. Cordoba is developing its 100%-owned San Matias Copper-
Gold-Silver Project, which includes the Alacran deposit and satellite deposits at Montiel East, Montiel
West and Costa Azul, located in the Department of Cordoba, Colombia. Cordoba also holds a 51%
interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint
Venture and Earn-In Agreement. For further information, please visit
www.cordobaminerals.com
.
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the
meaning of Canadian securities legislation. All statements included in this news release, other than
statements of historical fact, are forward-looking statements including, without limitation, but not
limited to, statements with respect to the preparation of an updated mineral resource statement;
geological interpretations; Feasibility Study; Environmental Impact Assessment permitting;
community engagement activities; results of the current exploration and interpretations thereof;
mineralization potential; and contemplated drilling and development programs. Forward looking-
statements include predictions, projections and forecasts and are often, but not always, identified by
the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target",
"budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might"
occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while
considered reasonable by management based on the business and markets in which Cordoba
operates, are inherently subject to significant operational, economic, and competitive uncertainties,
risks and contingencies. Such assumptions and estimates include, but are not limited to,
assumptions with respect to the status of community relations and the security situation on site and in
Colombia; general business and economic conditions; continuity of drilling programs; the availability
of additional exploration and mineral project; the supply and demand for, inventories of, and the level
and volatility of the prices of metals; relationships with strategic partners and significant shareholders;
the timing and receipt of governmental permits and approvals; the timing and receipt of community
and landowner approvals; changes in regulations; political factors; the accuracy of the Company's
interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the
availability of equipment, skilled labour and services needed for the exploration and development of
mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.
There can be no assurance that forward-looking 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 actual results to differ materially from the Company's expectations include
actual exploration results, continuity of drilling programs, interpretation of metallurgical characteristics
of the mineralization, changes in project parameters as plans continue to be refined, future metal
prices, availability of capital and financing on acceptable terms, general economic, market or
business conditions, uninsured risks, regulatory changes, delays or inability to receive required
approvals, uncertainties relating to epidemics, pandemics and other public health crises, including
COVID-19 or similar such viruses, and other exploration or other risks detailed herein and from time
to time in the filings made by the Company with securities regulators, including those described under
the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company
does not undertake to update or revise any forward-looking statements, except in accordance with
applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
1
Copper equivalent ("CuEq") is calculated using the formula CuEq=((Copper%*Copper recovery)+100*
((gold grade*gold price*gold recovery)/31.10305)/((copper%*copper price*copper
recovery)*2204.62)+100*((silver grade*silver price*silver recovery)/31.10305)/((copper%*copper
price*copper recovery)*2204.62) using the following assumptions: Metal prices of US$3.25/lb copper,
US$1,600.00/oz gold, and US$20.00/oz silver, copper recovery of 92.5% (fresh and transition zone
only), gold recovery of 78.1% and silver recovery of 62.9%.
2
Intervals are reported as core length only. True widths are estimated to be between 75% and 100% of
the core length.
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