Cordoba completed a total of 2,152.7 metres of diamond drilling within four holes focused on the suspected buried Alacran Porphyry Target (below the proposed open pit) and two holes within the Alacran Northern Extension Target.
Mineralization within drill holes ACD094, ACD096 and ACD096A within the Alacran proposed open pit was consistent with the mineral resource block model. Drill hole ACD094 intersected 1.11% copper and 0.19 g/t gold and 12.35 g/t silver over 27.35 metres (1.21% copper equivalent (CuEq)).
These drill holes did confirm the continuation and down dip edge of the Alacran mineralization, which provided additional support for the mineral resource; however, the deeper source of the porphyry clasts seen in the previous drilling could not be located.
The Alacran Northern Extension Target, drill holes ACD093A and ACD095 continued to intersect the barren unit 2, sterilizing this northern area of possible mineralization. The origin of the Northern Extension Target’s geochemical anomaly remains unexplained.
“We have received encouraging assay results from the drill holes to further support the Alacran mineral resource/mineral reserve,” commented Sarah Armstrong-Montoya, President and CEO. “We look forward to the continued advancement of the San Matias Project.”
ACD096 was drilled approximately normal to the Alacran deposit stratigraphy to test whether any alteration related to the suspected porphyry could be located below a known high grade part of the deposit. No alteration was noted below the deposit, but the following mineralized intersections of unit 2 were recorded, corresponding with the Alacran deposit resource block model that included 7.5 metres of 0.54% CuEq in saprolite from surface. This copper equivalency was calculated from gold and silver assays alone since no copper can be recovered from saprolite: 6.4 metres of 0.78% CuEq from 19 metres; 34.1 metres of 0.47% CuEq from 36.2 metres; 34.61 metres of 0.72% CuEq from 75.5 metres and 4.28 metres of 1.17% CuEq from 128.2 metres.
Based on the results of ACD096, a new drill hole ACD096A was proposed at a shallower dip to ACD096 to sample more of the stratigraphic host dacite breccias. This drill hole was also rotated further to the North to test whether there was evidence for the porphyry below the tonalite sill since no surface expression of mineralization would be seen below this late stage intrusive. ACD096A used the same platform as ACD096 intersected mineralized unit 2 but did not return any evidence of a porphyry source. ACD096A returned 50.5 metres of 0.65% CuEq from 32.4 metres; 5.05 metres of 0.63% CuEq from 87.9 metres; 25.42 metres of 0.92% CuEq from 101.95 metres and 18.23 metres of 0.49% CuEq from 151.77 metres.
Two holes were completed at the Alacran Northern Extension Target. ACD093A was drilled directly below the geochemical anomaly identified on the hill to the north of the Alacran deposit and intersected the dacite sill previously seen in drill hole ACD039 before intersecting the unit 3 mafic tuff representing the footwall of the Alacran deposit. On this basis, ACD095 was collared further north, where the sill was interpreted to be thin. This was the case since ACD095 was collared in the sill and exited it at 198 metres into unmineralized unit 2 before intersecting unit 3 mafic tuff at 204.1 metres.
Cordoba Minerals 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.