Cordoba Minerals Reports Additional In-fill Drilling Results from the Alacran Copper- Gold-Silver Project in Colombia ACD174 Reports 140.9 Metres of 0.70% Copper Equivalent 1 (0.42% Copper, 0.5 g/t Gold and 2.71 g/t Silver)
Cordoba Minerals Reports Additional In-fill
Drilling Results from the Alacran Copper-
Gold-Silver Project in Colombia
ACD174 Reports 140.9 Metres of 0.70% Copper Equivalent
1
(0.42% Copper, 0.5 g/t Gold and
2.71 g/t Silver)
ACD177* Reports 223.00 Metres of 0.60% Copper Equivalent
1
(0.47% Copper, 0.25 g/t Gold and
3.85 g/t Silver)
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2023) - 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 the latest assay results received from
the ongoing in-fill drilling program at the Alacran Copper-Gold-Silver Project.
Highlights:
Significant intercepts returned from the latest in-fill drill holes include (Table 1):
ACD174 - 140.9 metres ("m") from 15.6 m to 156.5 m with 0.42% copper ("Cu"), 0.50 g/t
gold ("Au") and 2.71 g/t silver ("Ag"), or 0.70% copper equivalent1 ("CuEq"), including:
13.80 m from 59.0 m to 72.8 m with 1.34% Cu, 4.05 g/t Au and 7.95 g/t Ag, or 3.74%
CuEq1.
ACD177* - 223.00 m from 27.00 m to 250.00 m with 0.47% Cu, 0.25 g/t Au and 3.85 g/t Ag,
or 0.60% CuEq
1
, including:
90.25 m from 79.25 m to 169.50 m with 0.80% Cu, 0.33 g/t Au and 6.84 g/t Ag, or
0.98% CuEq
1
,
27.50 m from 222.5 m to 250.00 m with 0.36% Cu, 0.28 g/t Au and 2.01 g/t Ag, or
0.52% CuEq
1
.
ACD181 - 104.45 m from 61.55 m to 166.00 m with 0.58% Cu, 0.23 g/t Au and 2.40 g/t Ag, or
0.69% CuEq
1
, including:
44.11 m from 101.54 m to 145.65 m with 0.86% Cu, 0.42 g/t Au and 3.61 g/t Ag, or
1.08% CuEq
1
.
"As we move towards the end of the in-fill drilling program, I am pleased that the assay results continue
to demonstrate the quality of the Alacran mineral resource model," commented Sarah Armstrong-
Montoya, President and CEO of Cordoba. "We continue to see high-grade mineralization in the north
and central parts of the Alacran Deposit, which could be accessible during the early mining years."
Additional drill holes further confirm the overall life of mine resource grades at the Alacran
Deposit.
ACD174 and ACD177 tested the central part of the Alacran Deposit (Figure 1), and returned grades
that are typical of the overall life of mine resource grade.
ACD174 returned 0.7% CuEq
1
over 140.9 m from 15.6 m to 156.5 m (Figure 2). The hole demonstrates
the local enrichment caused by the north-south trending structures. These structures intersect carbonate
rich parts of the "Unit 2" stratigraphy, and result in preferential replacement of carbonates by sulfides,
resulting in higher grades of 1.39% Cu, 0.46 g/t Au and 8.85 g/t Ag between 62 m and 63.8 m (Figure 7).
ACD177 returned 0.60% CuEq
1
over 223.00 m from 27.00 m to 250.00 m (Figure 3), and further
demonstrates both the broad intercept and local enrichment in the north-south trending structures, which
intersected the carbonate rich portions of the "Unit 2" stratigraphy.
Drill holes ACD181, ACD187, and ACD189 have identified a 20 m thick sill in the east end of the
Alacran Deposit (Figure 1). Although these drill holes intersected the sill, each drill hole also intersected
the lower and higher grade mineralization on either side of the sill (Figures 4, 5, 6 and 8). The local
volumes of mineralized material may be affected.
The ongoing drilling program will focus on the peripheral in-fill areas in the south of the Alacran Deposit
where lower grades are expected as predicted by the Pre-Feasibility block model. The final
hydrogeological, geotechnical, and infrastructure sterilization holes are expected to be completed within
the next few weeks.
Table 1: Drill results of the latest drill holes from the Alacran Deposit second phase in-fill
drilling program.
Hole
From
(m)
To
(m)
Interval
2
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
1
(%)
ACD174
15.60
156.50
140.90
0.42
0.50
2.71
0.70
Including
15.60
33.30
17.70
0.33
0.24
1.01
0.46
Including
59.00
72.80
13.80
1.34
4.05
7.95
3.74
Including
119.70
156.50
36.80
0.74
0.22
5.57
0.85
ACD175
*
4.61
77.75
73.14
0.81
0.58
7.34
1.14
Including
*
4.61
29.70
25.09
0.33
0.65
8.45
0.75
Including
43.30
77.75
34.45
1.43
0.69
9.30
1.80
ACD176
40.69
68.60
27.91
1.05
0.11
4.08
1.06
ACD177
*
27.00
250.00
223.00
0.47
0.25
3.85
0.60
Including
79.25
169.50
90.25
0.80
0.33
6.84
0.98
Including
222.5
250.00
27.50
0.36
0.28
2.01
0.52
ACD178
*
12.10
77.50
65.40
0.74
0.40
3.69
0.95
Including
*
12.10
28.30
16.20
1.81
0.49
6.86
2.01
Including
55.95
69.40
13.45
1.19
0.64
7.09
1.54
ACD179
37.60
171.70
134.10
0.53
0.13
2.87
0.58
Including
37.60
79.00
41.40
0.64
0.16
1.96
0.70
Including
103.70
136.10
32.40
0.90
0.30
5.73
1.05
Including
161.60
171.70
10.10
0.64
0.01
5.59
0.63
ACD180
93.80
126.00
32.20
0.28
0.17
1.27
0.37
ACD181
61.55
166.00
104.45
0.58
0.23
2.40
0.69
Including
101.54
145.65
44.11
0.86
0.42
3.61
1.08
ACD182
*
10.90
200.80
189.90
0.29
0.15
2.07
0.37
Including
68.10
83.65
15.55
0.75
0.57
4.21
1.06
Including
*
90.45
134.70
44.25
0.47
0.18
3.47
0.57
Including
180.50
200.80
20.30
0.35
0.11
2.99
0.41
ACD183
*
6.90
78.10
71.20
0.78
0.49
3.81
1.04
Including
*
6.90
27.40
20.50
1.88
0.38
6.84
2.01
Including
57.71
78.10
20.39
1.19
0.65
6.28
1.54
ACD184
*
11.75
73.85
62.10
0.36
0.14
0.82
0.42
ACD185
*
40.90
148.00
107.10
0.34
0.29
1.62
0.50
Including
103.60
130.00
26.40
0.82
0.48
4.15
1.08
ACD186
*
18.10
95.60
77.50
0.36
0.07
2.61
0.39
Including
*
18.10
49.90
31.80
0.66
0.11
4.93
0.71
Including
86.00
95.60
9.60
0.73
0.16
5.21
0.81
ACD187
63.50
152.40
88.90
0.59
0.27
3.05
0.73
Including
63.50
82.45
18.95
1.18
0.55
4.17
1.45
Including
105.17
141.15
35.98
0.69
0.27
4.42
0.83
ACD188
107.85
139.00
31.15
0.27
0.16
1.47
0.35
ACD189
61.00
127.00
66.00
0.52
0.20
3.53
0.63
Including
61.00
84.00
23.00
0.97
0.33
6.33
1.13
Including
109.00
127.00
18.00
0.64
0.17
4.41
0.72
ACD190
78.80
161.40
82.60
0.23
0.13
1.68
0.30
Including
118.50
161.40
42.90
0.36
0.09
2.85
0.41
ACD191
*
7.00
81.65
74.65
0.34
0.07
1.17
0.37
ACD192
19.00
68.70
49.70
0.46
0.22
1.27
0.57
ACD193
62.40
146.38
83.98
0.26
0.14
1.51
0.34
Including
86.90
104.29
17.39
0.57
0.32
3.14
0.74
Hole
From
(m)
To
(m)
Interval
2
(m)
Cu
(%)
Au
(g/t)
Ag
(g/t)
CuEq
1
(%)
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%.
Comprehensive metallurgical test programs
have been completed which has led to the creation of head grade/recovery algorithms by principal rock
type. Details are outlined with the
Pre-Feasibility Study
.
2
Intervals are reported as core length only. True widths are estimated to be between 75% and 100% of
the core length.
*
Drill hole has partial core recovery due to poor ground conditions, which is why the from-to lengths do
not equate to the sampled intervals.
Figure 1: Plan view of the latest significant intercepts from the ongoing in-fill drilling program.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_004full.jpg
Figure 2: Cross Section A-A' of ACD174
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_005full.jpg
Figure 3: Cross Section B-B' of ACD177
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_006full.jpg
Figure 4: Cross Section C-C' of ACD181
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_007full.jpg
Figure 5: Cross Section C-C' of ACD187
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_008full.jpg
Figure 6: Cross Section C-C' of ACD189
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_009full.jpg
Figure 7: ACD174 at 62.5 m down hole - a fossiliferous limestone bed that is highly replaced by
semi-massive sulfides consisting of pyrite, chalcopyrite and trace magnetite. The sample
outlines some of the bivalves whose carbonate shells have been preferentially replaced. The
host limestone protolith shows pervasive chlorite alteration. This sample was part of 1.8 m
interval between 62 m and 63.8 m that returned 1.39% Cu, 0.46 g/t Au and 8.85 g/t Ag.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_010full.jpg
Figure 8: ACD187 at 80.05 m shows a grayish green fine tuff with extensive chalcopyrite
mineralization, epidote and chlorite alteration. This sample was part of a 1.2 m interval between
79.1 m and 80.3 m that returned 1.87% Cu, 1.56 g/t Au and 8.29 g/t Ag.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3116/165285_221b9cd244d7a83e_011full.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 jointly developing the Alacran Project with JCHX
Mining Management Co., Ltd., 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 Alacran Deposit and development thereof; geological
interpretations; results of the current exploration and interpretations thereof; mineralization potential;