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Cordoba Minerals Provides an Update on Development Planning for its San Matias Copper-Gold-Silver Project
Mining Technical Work Plan (PTO) Application to be
Submitted on November 17, 2021
Prefeasibility Study Expected to be Complete in
VANCOUVER, CANADA – Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV:CDB; OTCQB:CDBMF; otherwise “Cordoba” or the “Company”) is pleased to provide an update on the timing of completion of the Prefeasibility Study (“PFS”) for the Alacran Copper-Gold-Silver Deposit, located within Cordoba’s 100%-owned San Matias Project in Colombia.
The PFS work process has identified a number of key optimization opportunities which are currently being reviewed and are expected to be included in the final report (refer to Cordoba’s news release dated May 13, 2021). The PFS is expected to be complete in mid-December 2021.
Cordoba will be submitting the Mining Technical Work Plan application (Programa de Trabajo y Obras or “PTO”) to the Colombian National Mining Agency (“ANM”) on November 17, 2021. This important filing describes the resource, site conditions and proposed operation, and is one of the two required permits in Colombia for the Project to move into the building and construction phase.
The second requirement is the approval of the Environmental Impact Assessment (“EIA”) that demonstrates the environmental feasibility of the project. Cordoba continues to work on the EIA.
Cordoba’s geologists are preparing an exploration work program to test the Alacran porphyry target and other San Matias regional targets (refer to Cordoba’s news release dated May 13, 2021). The company intends to provide an update on this exploration program once targets are finalized and diamond drilling contracts are secured.
“The completion of the PFS and the submission of the PTO application to the Colombian mining authorities are important steps for the Project’s development, as we begin to realize our goal of becoming the next copper and gold producer in Colombia.” commented Ms. Armstrong-Montoya.
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
Sarah Armstrong-Montoya, President and Chief Executive Officer
Ran Li +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 timing of completion of the Pre-Feasibility Study, Mining Technical Work Plan application, and Environmental Impact Assessment; project optimizations; exploration plans and targets. 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 Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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. 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, uncertainties relating to epidemics, pandemics and other public health crises, including COVID-19 or similar such viruses, 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. Readers are cautioned not to put undue reliance on these forward-looking statements.