Cordoba Minerals Provides San Matias Exploration Update Detailed Alacran Area Review Defines New Exploration Targets Previously Un-Explored Targets Outlined at Alacran Deposit and “Way Out West” Anomaly
Cordoba Minerals Provides San Matias Exploration Update
Detailed Alacran Area Review Defines New Exploration Targets
Previously Un-Explored Targets Outlined at Alacran Deposit
and “Way Out West” Anomaly
TORONTO, ONTARIO, August 8, 2018: Cordoba Minerals Corp. (TSX-V:CDB;
OTCQX:CDBMF) (“Cordoba” or the “Company”) today provided an update on recent
activities at its 100%-owned San Matias Copper-Gold Project in Colombia. Detailed project
work comprising “boots on the ground” on a district-scale across the northwestern-end of the
San Matias Project, re-logging of Alacran drill core, and analysis of trace element zoning
patterns has outlined two previously unexplored areas that are hypothesized to be potential
sources of mineralizing fluids.
Highlights
• One possible centre of mineralization is related to a massive body of mineralized
breccia exposed at the centre of the current artisanal hard rock mining pit, which is at
the edge of the Alacran town. Ninety metres below the pit floor ACD036 encountered
4,440 g/t gold, 10.25% copper, 24.7% zinc and 347 g/t silver over 0.9 metres in an
overall intercept of 136.0 metres grading 1.00% copper and 0.56 g/t gold (all assays
used for intercept calculations were capped at 10% copper, 10 g/t gold, 10% copper
equivalent; previously reported on January 23, 2017). Re-logging of the surrounding
Alacran drill core identified dikes, quartz veining and breccias that are believed to be
related to the breccia body, which dip to the west into a covered area west of Alacran
town. These structures may provide a vector to aid in exploration of this area.
• Approximately 270 metres beneath the Alacran Deposit is a low-angle fault that
truncates mineralization. Matching of dikes across the fault suggests Alacran
mineralization has been displaced up and to the east away from a postulated source
of breccia bodies, dikes and veins.
• Analysis of Alacran drill data has outlined internal metal zoning patterns within the
deposit that show an increase in copper, silver, zinc and sulphur values toward the
north. These are the same elements encountered by the ACD036 intercept. Following
the direction of increasing values to the north beyond the limit of Alacran drilling,
historical soil sampling data has outlined an area of 2.5 x 3 km with anomalous silver
values.
• In the Montiel area, west-northwest-trending structures, pyrite-chalcopyrite veins and
shallow-dipping quartz veins trend westerly toward the area of anomalous silver soil
values described in the previous bullet. The anomaly, named “Way Out West” for its
location relative to Montiel, appears to coincide with the intersection of the projected
Montiel structures and the projected northerly trend of increasing metal values at
Alacran.
• The “Way Out West” anomaly is at the intersection of two significant geological trends,
which has led Cordoba’s geologists to hypothesize that this area could represent
another source of mineralizing fluids in the San Matias District.
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“Our understanding of Alacran and the northern part of our San Matias District is continuing to
evolve, highlighting significant potential for additional discoveries,” commented Mario Stifano,
President and CEO of Cordoba Minerals. “Our geological team has been working tirelessly to
identify potential new mineralizing sources for the Alacran Deposit and Montiel, opening the
door to discovery and resource expansion.”
Current exploration is focused on re-logging Alacran drill core to outline breccia bodies, dikes
and veining to define drilling targets west of Alacran based on fault offsets across the low-
angle fault that underlies the area. Cordoba’s geologists also are looking at trace element
zoning patterns in combination with geology, alteration and structural data. Significant gold in
streams has been identified west of Alacran in the area of interest.
In addition, at the “Way Out West” anomaly, panning of stream sediments combined with soil
sampling of saprock and BLEG (Bulk Leach Extractable Gold) sampling are being used to
further explore anomalous drainages. This work has returned encouraging results that will be
used to define drilling targets to test for another source of mineralizing fluids.
Regional Fieldwork Leads to New Prospects
Cordoba’s geologists have been focused on regional fieldwork at San Matias to explore for
new mineralized zones and to extend areas of known mineralization. This work has included
stream sediment sampling, soil sampling and trenching at a number of prospective targets
throughout the San Matias District.
Figure 1: Cordoba’s geologists active in the field at San Matias.
Alacran Review Defines Revised Deposit Model
Detailed mapping in the centre of the current artisanal hard rock mining at the edge of the
town of Alacran discovered a massive body of mineralized breccia. This breccia was
previously unexplored by drilling due to a lack of access. Re-logging of the surrounding drill
holes indicates the presence of breccia, porphyry dikes and shearing that cross-cut sericitized
and albitized host rock that contains disseminated and veinlet-controlled chalcopyrite-pyrite
mineralization. Faults, dikes and breccia bodies appear to disrupt the interbedded carbonate
sequence that hosts the manto replacement mineralization, which has resulted in doubling the
thickness of the mineralized sequence. A low-angle fault truncates the mineralized Alacran
sedimentary sequence up to several hundred metres below surface. This is based on the
observation that the Alacran mineralization is offset to the west by low-angle faulting;
therefore, the Montiel area may also be controlled by a similar offset as it exhibits bottoming
of mineralization.
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Figure 2: Schematic conceptualizing gold copper mineralized breccia in relation to Alacran
carbonates package.
Figure 3: Polymetallic breccia mineralization in the Alacran Deposit.
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Figure 4: Significant gold mineralization identified in stream sediments located west of
previous Alacran drilling.
Figure 5: Surface grab samples with boxwork structures collected from just west of Alacran.
Cordoba’s geologists have conducted a detailed analysis of existing Alacran drilling data to
discern trace element geochemical patterns. Internal metal zoning within the known manto
replacement body shows an increase in copper, silver, zinc and sulphur values to the north.
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Figure 6: Internal metal zoning within the Alacran Deposit showing an increase in copper,
silver, zinc and sulphur values to the north.
Geological Indicators Point Toward “Way Out West” Anomaly
Further north, beyond the limit of existing Alacran drilling, surface soil samples (Reflex ioGAS
evaluated) have defined a 2.5 x 3 km area comprising anomalous copper, silver, zinc and
sulphur values. Within this area, a single outcrop sample of breccia with aphanitic porphyry
fragments contains disseminated and fracture-controlled chalcopyrite, which demonstrates
that copper mineralization is present in the area.
At a distance of 2 km northeast of Alacran at the Montiel East and West showings, artisanal
mining has exposed copper porphyry style mineralization, alteration and quartz veining over
a 1.4 x 0.7 km area. Copper-gold mineralization dips shallowly to the west as defined by quartz
veining and is cut-off at depth. Combined pyrite-chalcopyrite-magnetite veining, structure and
ground magnetics suggest a west-northwest direction to the mineralization. Importantly, the
soil anomaly north of Alacran is 1 km west of the Montiel showings and suggests an
intersection of the two structural trends at that location named the “Way Out West” anomaly.
Ongoing work comprises a two-part program.
1. BLEG stream sediment sampling and deep soil sampling into saprolite over bedrock
is being conducted at the “Way Out West” anomaly to define drill targets.
2. Re-logging of Alacran drill core is being done to outline breccia bodies, dikes and
structures to guide continued exploration for a deep porphyry centre to the west.
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Figure 7: Significant historical silver soil anomaly north of Alacran and west of Montiel.
Figure 8: Exploration vectors intersect at the “Way Out West” anomaly.
Technical Information & Qualified Person
The technical information in this release has been reviewed and verified by Dale A. Sketchley,
M.Sc., P.Geo., a Qualified Person for the purpose of N ational Instrument 43-101. Mr.
Sketchley is a consultant to Cordoba Minerals and is considered independent under National
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Instrument 43-101. Mr. Sketchley is a geologist with over 40 years in the mineral exploration,
mining and consulting industry. He is a Member of the Association of Professional Engineers
and Geoscientists of British Columbia (APEGBC) and the Canadian Institute of Mining and
Metallurgy (CIMM).
About Cordoba Minerals
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 and CEO
Cordoba Minerals Corp.
For further information, please contact:
Evan Young, Director, Investor Relations
Email: [email protected]
Phone: +1 (647) 808-2141
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of
Canada accepts 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, (i) that a detailed exploration review could identify the new mineralized
targets at Alacran; (ii) that an area located to the west of Alacran and at the “Way Out West”
anomaly could represent potential sources of mineralizing fluids in the San Matias District; and
(iii) that geological fieldwork may lead to new or large-scale discovery within the San Matias
District. 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. There can be no assurance that such 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, interpretation
of metallurgical characteristics of the mineralization, changes in project parameters as plans
continue to be refined, future commodity 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, and other exploration or
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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.