ANCOUVER, 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 report that drilling is underway at the Perseverance porphyry copper project, located in northwestern Arizona, USA.
Photo: The crew is on Perseverance site drilling the initial K-21 hole for 2021 exploration program.
"We are excited to report that the drill is turning again at Perseverance, following the last successful drill campaign in 2019. We look forward to the results, and believe there is great potential at Perseverance." commented Ms. Armstrong-Montoya.
The 2021 drill program has commenced with an initial 2-hole program to test the Northern Magneto-telluric anomaly (refer to Cordoba's news release dated October 19, 2021).
Cordoba has an option to earn up to 80% of the Perseverance Project
Cordoba has the option to earn up to an 80% interest in Perseverance by spending a total of C$17,000,000 over a 7.5 year period by completing the phased project expenditures before April, 2026 (refer to Cordoba's news release dated August 27, 2018). In 2019, Cordoba completed the Phase 1 earn-in requirement and vested a 25% interest in the project. The Company is currently in Phase 2 stage and is earning-in to a total 51% interest of the project which must be completed by April 2022. Cordoba has to date spent approximately 50% of the C$3,000,000 required to obtain this 51% interest.
Technical Information & Qualified Person
The technical information in this release has been reviewed and verified by Charles N. Forster, P.Geo., a Qualified Person for the purpose of National Instrument 43-101. Mr. Forster is the Vice President, Exploration for Cordoba.
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, the timing and results of the proposed drilling program at the Perseverance Project; and the completion of earn-in expenditures on the project. 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, 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.