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Cordoba Minerals Announces the Commencement of Diamond Drilling at the San Matias Copper-Gold Project
TORONTO, ONTARIO, July 15, 2014: Cordoba Minerals Corp. (TSX-V:CDB) ("Cordoba" or the "Company") is pleased to announce the commencement of diamond drilling at the San Matias copper-gold project in the Department of Cordoba, Colombia. The diamond drilling campaign will focus on testing the Costa Azul and Montiel West porphyry copper-gold targets that are located immediately west and south of the Montiel East target (see Fig. 1) where the Company's previous diamond drilling identifed a high grade copper-gold porphyry target including 101.10 metres @ 1.0% Copper and 0.65 gpt Gold (2.33 gpt AuEq). The first phase of the current 2,000 metre drill program will also include follow-up diamond drilling at the Montiel East porphyry copper-gold target.
The diamond drilling campaign at Costa Azul and Montiel West has been designed after an intense RAB (rotary air blast) drilling campaign at both targets that incorporated +5,000 metre of shallow drill holes. That drill program was conducted to test both targets previously defined by surface sampling campaigns of soil auger and trench sampling that have located widespread porphyry copper-gold mineralization over larger areas in a heavily weathered terrain. The final assays of this RAB drilling campaign have now been received and the Company will complete the data complilation and provide an update on the results of its RAB drilling program in the upcoming weeks.
The Montiel prospect is a 1 km x 800 m target defined by a large coincident copper-gold soil anomaly, trenching and rock-chip sampling over an interpreted porphyry cluster. The Montiel West target has incorporated to date 78 shallow RAB drill holes for a total of 1,993 metres that have been drilled on a roughly 50 m x 50 m grid testing porphyry copper-gold mineralization in both feldspar-hornblende porphyry intrusive and mafic volcanic country rocks tracking north to the recent Pirita underground mine workings where higher grade copper-gold mineralization is associated with a series of parallel NW-trending veins. The mineralization at Montiel West is defined by sheeted quartz-magnetite-chalcopyrite-pyrite-bornite veins that are largely E-W, NE and NW trending with minor N-S zones. The mineralized porphyry, and surrounding mafic volcanic country rocks, has been defined by logging of RAB chips and is generally associated with a stripped saprolite (due to hydraulic mining by artisanal miners) and saprock outcrops.
The Costa Azul target is a coincident 800 m x 800 m copper-gold soil anomaly associated with a prominent magnetic high geophysical signal. It is located 2.5 km to the south of the Montiel prospect, on the same major N-S lineament that extends for an additional 9 km to the southern tenure boundary. Recently completed trenching and soil auger sampling has exposed a large area of mineralized porphyry and mafic volcanic country rocks that is interpreted to be the SW part of a NE-trending elongate mineralized porphyry intrusive body where previous trench sampling has returned 75.6 m @ 1 g/t Gold and 0.3% Copper, within a larger +200 metre mineralized interval that remains open in multiple directions. At the Costa Azul target 112 shallow RAB drill holes have been completed for a total of 3,282 metres on a roughly 50 m x 50 m grid testing porphyry copper-gold mineralization in both feldspar-hornblende porphyry intrusive, mafic volcanic country rocks and tonalite intrusive. The mineralization at Costa Azul is associated with multi-directional quartz-magnetite-chalcopyrite-bornite veins in feldspar-hornblende porphyry intrusive.
Mario Stifano, CEO of Cordoba, commented: "We are excited with the initial 2,000 metre diamond drilling program to test our copper-gold porphyry targets at Montiel and Costa Azul. We have also started the next phase of our RAB drilling program to test the area north of Montiel West as well as the area between the eastern and western outcrops at Montiel, while also continuing to actively explore our 13 km strike-length porphyry district to identify additional targets."
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 a geologist with +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.
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 currently owns 100% of the highly prospective San Matias Project located near operating open pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobamineralscorp.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", 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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Company's properties are forward-looking statements that involve various risks and uncertainties. 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. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal 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 other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.