Cordoba Minerals Corp. provides company update
October 26th, 2017
Cordoba Minerals Corp. provides company update
TORONTO, CANADA: Cordoba Minerals Corp. (TSX-V: CDB; OTCQX: CDBMF)
(“Cordoba” or the “Company”) is pleased to announce an update on its ongoing
resource expansion program at the high-grade, near-surface Alacran Deposit (located
within the San Matias Copper-Gold Project in Colombia), as well as other ongoing
activities.
Drill Program – September/October, 2017
Cordoba is pleased to report that five out of the ten planned drill holes at Alacran have
been successfully completed. The Company continues to work diligently to complete
the remainder of the planned drill campaign. Drilling is taking place in two main fronts
aimed at extending the resource in the immediate vicinity of an internally modeled pit
shell.
• Down-dip extension to the west: the two step-out holes drilled so far in the
northwestern portion of the deposit (ACD070 and 71) were successful at proving
down dip continuation of the copper-gold mantos with wide intersections of
abundant chalcopyrite mineralization. This is particularly impressive in hole
ACD070 where the stratabound copper-gold mineralization is overprinted by a
discordant metre-wide fault zone filled with semi-massive sulfides. Predominance
of arsenopyrite (plus minor pyrite and sphalerite) coupled with the pervasive
sericite-illite alteration and carbonate gangue is diagnostic of a low sulfidation
epithermal vein event. Assay results are pending.
• Southern extension of Alacran: three step-out holes (ACD067, 69 and 72)
were completed, adding 100 metres of strike length to the south of the shallow
ore grade intercept that was reported in July for hole ACD066 (48 metres @
0.70% copper and 0.19g/t gold). Assay results are also pending for these holes.
Mario Stifano, President and CEO of Cordoba, said, “We are encouraged by our team’s
progress toward our immediate goal of publishing an updated Resource Estimate at the
Alacran Deposit. The exciting discovery of new epithermal veins increases the
likelihood for additional high-grade gold at Alacran and it remains unclear if they are
related to previously reported high-grade gold bearing Carbonate Base Metal (CBM)
veins. The down dip continuation of mineralization at northern Alacran has the potential
to significantly increase the size and tonnage of the deposit. In addition, the potential
relationship of the epithermal veins to the large soil anomaly and intrusive immediately
north of Alacran needs to be explored.”
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Updated Mineral Resource Estimate and Subsequent Preliminary Economic
Assessment (“PEA”)
The Company has engaged the services of AMEC Foster Wheeler to prepare an
independent Mineral Resource estimate, which is expected to be completed in early
2018. Cordoba then plans to release a Preliminary Economic Assessment during the
first half of 2018.
Alacran Copper-Gold System
The Alacran copper-gold system is located within the San Matias Copper-Gold Project
in the Department of Cordoba, Colombia, 200 km north of Medellin. San Matias
comprises a 20,000-hectare land package.
The Alacran copper-gold deposit is located on a topographic high in gently rolling
topography, optimal for potential open -pit mining. Access and infrastructure are
considered favourable.
The Inferred Mineral Resources at Alacran are currently 53.5 million tonnes of 0.70%
copper and 0.37g/t gold. Alacran is approximately two kilometres southwest of the
Company’s Montiel porphyry copper-gold discovery, where drilling intersected 101
metres of 1.0% copper and 0.65g/t gold, and two kilometres northwest of the Costa
Azul porphyry copper-gold discovery, where drilling intersected 87 metres of 0.62%
copper and 0.51g/t gold.
The copper-gold mineralization at Alacran is associated with stratabound replacement
of a marine volcano-sedimentary sequence. The deposit comprises moderately- to
steeply-dipping stratigraphy that is mineralized as a series of sub-parallel replacement-
style zones and associated disseminations. The mineralization is composed of multiple
overprinting hydrothermal events, and the main ore phase is comprised of chalcopyrite-
pyrrhotite-pyrite that appears to overprint an early magnetite metasomatic event.
Qualified Person
The technical information in this release has been reviewed, verified and compiled by
Christian J. Grainger, Ph.D., a Qualified Person for the purpose of NI 43 -101. Dr.
Grainger is not considered independent under NI 43 -101 as he is a consultant to
Cordoba Minerals. Dr. Grainger is a geologist with over 18 years in the minerals mining,
consulting, exploration, and research industries. Dr. Grainger is a Member of the
Australian Institute of Geoscientists (AIG).
The Alacran initial Inferred Mineral Resource estimate was completed by Mining
Associates Limited and reported by the Company on January 5, 2017, and is in
accordance with National Instrument 43-101 and the 2014 Canadian Institute of Mining
(CIM) definition standards.
About Cordoba Minerals
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Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on
the exploration and acquisition of copper and gold projects in Colombia. Cordoba is
currently focused on its 100%-owned San Matias Copper-Gold Project, which includes
the advanced-stage Alacran Deposit located in the Department of Cordoba. For further
information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Mario Stifano,
President & CEO
Cordoba Minerals Corp.
Email: [email protected]
Website: www.cordobaminerals.com
Phone: +1.416.862.5253
Neither the 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.
Forward-Looking Statements
Statements in this news release that are forward -looking statements are subject to
various risks and uncertainties concerning the specific factors disclosed here and
elsewhere in both Cordoba’s periodic filings with Canadian securities regulators. When
used in this news release, words such as “believe”, “anticipate”, “will”, “could”, “plan”,
“estimate”, “expect”, “intend”, “may”, “potential”, “should,” and similar expressions, are
forward-looking statements. Information provided in this document is necessarily
summarized and may not contain all available material information.
Although Cordoba has attempted to identify important factors that could cause actual
results, performance or achievements to differ materially from those contained in the
forward-looking statements, there can be other factors that cause results, performance
or achievements not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate or that management's
expectations or estimates of future developments, circumstances or resul ts will
materialize.
Accordingly, readers should not place undue reliance on forward-looking statements.
The forward-looking statements in this news release are made as of the date of this
news release, and Cordoba disclaims any intention or obligation to update or revise
such information, except as required by applicable law, and Cordoba does not assume
any liability for disclosure relating to any other company herein.