- TSX.V: CDB $0.13
- OTCQB: CDBMF $0.10
Cordoba Minerals Announces the Mobilization of a RAB Drill-Rig to Commence Exploration Drilling of the Montiel Prospect
Vancouver, BC, February 12, 2014: Cordoba Minerals ("Cordoba" or the "Company") is pleased to report that a track-mounted RAB (rotary air blast) drill-rig has been mobilized at the Montiel Prospect located within the San Matias Project in Cordoba, Colombia, where previously reported diamond drilling has included: 101.10 metres @ 1.0 % Copper and 0.65 g/t Gold (2.37 g/t AuEq) in DDH-004 (see November 20, 2013 news release). As announced on August 1, 2013, Cordoba signed a binding agreement to consolidate the 26,000 hectares San Matias Project, with closing anticipated early 2014.
The Montiel prospect is composed of a large (+1km in diameter) and robust Cu/Au in-soil anomaly, associated with a cluster of outcropping mineralized porphyry Cu-Au intrusive centers, extensive shallow artisanal mining activity and associated alluvial gold mining that is sourced from the Montiel porphyry cluster (Figure 1). The RAB drill-rig has been specially designed for Cordoba and will be utilized to rapidly drill the upper 50 vertical metres of the exposed porphyry Cu-Au mineralization with percussion drilling, commencing at Montiel West and moving towards Montiel East. Follow-up diamond drilling will commence upon completion of the first-pass RAB exploration drilling.
RAB drilling is a very effective drilling technique used specifically in areas where a well-developed saprolite has formed and where larger areas of surface mineralization are evident with favourable topography, such as the Montiel Prospect. The RAB drilling program is expected to rapidly locate the more well-developed areas of porphyry style Cu-Au mineralization to better target follow-up deeper diamond drilling activities efficiently and cheaply.
Simon Ridgway, CEO of Cordoba, commented: "We are extremely pleased to commence our 2014 drilling program at the Montiel Prospect, the first of numerous porphyry Cu-Au targets identified to date, and start unlocking the full potential of the San Matias Project."
About the Agreement
Cordoba announced on August 1, 2013 that it has entered into a binding agreement to acquire a 100-per-cent interest in the Cordoba copper-gold property from the Minatura group of companies and the adjacent property from Sabre Metals Inc. Completion of the transaction is subject to a number of conditions, including approval by the shareholders of Cordoba and Sabre, completion of a financing by Cordoba, preparation of a 43-101 compliant technical report, and approval by the TSX Venture Exchange (see the August 1, 2013 news release for further details on the Agreement).
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company focused on the acquisition and exploration of copper and gold projects in Colombia. The Company currently owns 11% of the Cordoba project (renamed San Matias Project). The Company is also actively pursuing additional acquisitions in Colombia. Please visit www.cordobamineralscorp.com for further information.
About Sabre Metals
Sabre Metals Inc. ("Sabre") is a privately held company backed by Continental Gold Limited and Grupo de Bullet SA with exploration assets in the department of Cordoba, Colombia. The company's management team has extensive experience in exploring, financing and developing precious and base metal properties.
The Minatura Group of companies is comprised of privately held companies engaged in the exploration, development and extraction of precious and base metals in Colombia, Ghana, and Sierra Leone. Please visit www.minatura.com for additional information.
The results of the Sabre's drill program have 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.
ON BEHALF OF THE COMPANY
Simon Ridgway, Chairman and CEO
Cordoba Minerals Corp.
Contact: Simon Ridgway
Tel: (604) 801-5432; Fax: (604) 662-8829
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 expected benefits of the San Matias acquisiton, the receipt of any regulatory and shareholder approvals for, and the completion of, the San Matias acquisition, and the potential of the 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.
Figure 1. Montiel Plan View With Mineralization Open in all Directions