Cordoba Minerals Corp. [CDB-TSXV; CDBMF-OTCQB] reported initial diamond drilling results from the feasibility study drilling program at the 100%-owned San Matias copper-gold-silver project in Colombia.
Highlights include 6,385 metres (24 diamond drill holes) of the initial 25,000-metre in-fill drilling program that have been completed within the Alacran Deposit.
Significant assays to date include drill hole ACD087 that returned 61 metres with 0.99% copper, 0.35 g/t gold and 5.17 g/t silver or 1.17% copper equivalent (CuEq). ACD097 returned 53 metres with 0.70% copper, 0.70 g/t gold and 6.18 g/t silver or 1.11% CuEq.
Mineralized intersections correlate closely with the Pre-Feasibility Study (PFS) Mineral Resource Block Model. Multiple late-mineral gold-copper veins, known as Carbonate Base Metal (CBM) veins, have been intersected within drill holes and are superimposed upon high-grade zones of earlier carbonate replacement copper-gold mineralization.
“We are excited to see the initial in-fill drill holes supporting the higher grade domains in our resource model for the Alacran Deposit. The fact that these domains also host multiple CBM veins brings us one step closer to understanding the relationship between the CBM and carbonate replacement events,” commented Ms. Armstrong-Montoya, President and CEO of Cordoba. “Results indicate a shared feeder system for the mineralizing fluids and point towards excellent exploration potential to depth, including for a porphyry copper-gold source.”
It is difficult to assess how much gold these CBM veins may contain within the Alacran Deposit. Given the clear presence of coarse-grained gold, as demonstrated in drill hole ACD036, it is likely that there is a significant nugget-effect at play, and accordingly there is the potential for substantial upside in contained gold that is not reflected in the current resource statement and that this upside would be realized during mining of the deposit.
Cordoba is developing its 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.