Nov 24 2015
Cordoba Minerals Corp. ("Cordoba" or the "Company") is pleased to announce the commencement of diamond drilling at the San Matias Copper-Gold Project (the "San Matias Project") in the Department of Cordoba, Colombia. The current diamond drilling campaign will focus on the recently acquired Alacran Property located within the San Matias Project.
The planned 3,000 metre diamond drill program will test both strike and vertical extensions of the mineralization, largely within the central and northern parts of the deposit where previous drilling returned 188 metres of 0.71% Cu and 0.25 g/t Au in ASA-012 and 128 metres of 0.84% Cu and 0.45 g/t Au in ASA-014.
Mario Stifano, CEO of Cordoba, commented: "We are excited to commence the initial 3,000 metre diamond drilling program at Alacran where the vertical depth of the deposit is largely untested and remains open over the current 1.3 kilometre strike length including the northern parts of the deposit where some of the best copper-gold intersections have been intersected to date."
ALACRAN COPPER-GOLD PROJECT
The Alacran Copper-Gold Project is located within a 390-hectare mining title (2.3 km x 1.7 km) in the northern central parts of the San Matias Project. The copper-gold mineralization is associated with stratabound replacement of a marine volcano-sedimentary geological sequence in the core of a faulted antiformal fold structure. The deposit comprises moderate to steeply dipping stratigraphy that is mineralized as a series of sub-parallel replacement-style or manto deposits and associated disseminations. The copper-gold mineralization is composed of largely chalcopyrite ± pyrrhotite with associated metasomatic magnetite and distal disseminated pyrite. High temperature biotite-amphibole-K feldspar alteration in the host geological sequence, and in adjacent geology, indicate that the copper-gold mineralization is proximal to a source intrusion.
The majority of the intersected mineralization at Alacran has only been tested to an average vertical depth of 150 metres, with the deepest intersections only 240 metres below surface. Mineralization is traced over a strike length of greater than 1.3 kilometres. Alacran is approximately two kilometres southwest of the Company's Montiel discovery, where recent drilling interested 101 metres of 1.0% Cu and 0.65 g/t Au, and two kilometres west of Costa Azul where recent drilling interested 87 metres of 0.62% Cu and 0.51 g/t Au (see Fig 1).
To view Figure 1. Locations of the Alacran copper-gold within the San Matias Project of Cordoba Minerals on airborne RTP magnetics, please visit the following link: http://media3.marketwire.com/docs/AlacranSanMatias.jpg.
About San Matias Project
The newly discovered San Matias Copper-Gold Project comprises a 20,000-hectare land package on the inferred northern extension of the prolific and richly endowed Mid Cauca Belt. The San Matias Project area contains several known areas of porphyry copper-gold mineralization, copper-gold replacement or skarn style and vein hosted gold-copper mineralization. Porphyry mineralization at the San Matias Project incorporates high-grade zones of copper-gold mineralization hosted by diorite porphyries that contain strong potassic style alteration and various orientations of sheeted and stockwork quartz-magnetite veins with chalcopyrite-bornite mineralization and minor zones of K-feldspar within vein margins and secondary biotite. Lesser calc-sodic alteration is also noted as trace actinolite and albite alteration zones, largely in basaltic wallrocks and inclusions. At least one later phase of chalcopyrite veining overprints the sheeted and stockwork quartz-magnetite veins. A second, more felsic intrusive mineralized phase has also been identified which contains lesser quartz-magnetite veining associated with chalcopyrite and pyrite and a more well developed dissemination of chalcopyrite-pyrite. Potassic alteration, as secondary biotite, is well developed along with minor zones of chlorite-epidote alteration. Within the diorite porphyry, zones of intense sheeted quartz veining often reaches over 90% replacement of the intrusive host rock associated with strong potassic alteration and copper-gold mineralization. The nature of mineralization and related alteration encountered at Montiel is similar to other large high-grade copper-gold porphyry deposits.
Qualified Person and Technical Information
The technical information has been reviewed, verified and compiled by Christian J. Grainger, PhD, a Qualified Person for the purpose of NI 43-101. Dr. Grainger is Cordoba's Vice President of Exploration and is a geologist with over 15 years in the minerals mining, consulting, exploration and research industries. Dr. Grainger is a Member of the Australian Institute of Geoscientists and Australian Institute of Mining and Metallurgy. Dr. Grainger has verified the technical data in this news release related to the historical Mineral Resource estimate disclosed herein.