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Cordoba Minerals Announces the Restart of Pre-Feasibility Study Work at San Matias Project in Colombia
VANCOUVER, BRITISH COLUMBIA, March 23, 2021: Cordoba Minerals Corp. (TSXV:CDB; OTCQB:CDBMF) ("Cordoba" or the "Company") announces that following the news release on March 15, 2021 when the Company announced that an Operation was undertaken by the National Police of Colombia against illegal mining activities at El Alacran, the Company advises that on March 20, 2021 it resumed Pre-Feasibility Study work for the Alacran project. The Company is currently operating three (3) drill rigs and a fourth drill rig is expected to resume work following maintenance later this week. Both police and military personnel are present with the Company's employees and contractors.
"The intervention by the Colombian authorities was in response to illegal gold mining activities being undertaken by a group of individuals on Cordoba´s title, with associated significant environmental damage and use of harmful chemicals such as mercury," stated Eric Finlayson, President and Chief Executive Officer of Cordoba. "The intervention was a direct result of the National Government's initiative to eliminate illegal mining, through which there have been several similar interventions recently in other parts of the country."
"We expect that the current Operation by the Colombian authorities will result in increased security and governmental control in the region, which along with Cordoba´s program for social development and environmental management, will advance the process of permitting, constructing and operating a mine at the Company's Alacran project," added Mr. Finlayson. "It is a strong demonstration of support by the authorities for what is recognized by the Government as a project of national interest."
The Company, as always, is fully cooperating with the authorities, acting in compliance with Colombian law and operating in accordance with international standards. The Company continues to provide support to the communities within the area of impact of the Alacran project. Additionally, extra precautions have been taken to ensure the safety of all Company employees and contractors following the Operation.
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is developing its 100%-owned 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 25% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint Venture and Earn-In Agreement. For further information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Eric Finlayson, President and Chief Executive Officer
Investor Relations +1-604-689-8765
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the Pre-Feasibility Study work; the resumption of drilling; the timing of completion of the Pre-Feasibility Study and future work programs; and that the Operation will result in increased security and governmental control. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "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.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company's interpretation of drill results; the geology, grade and continuity of the Company's mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.
There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, 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, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.