Cordoba Minerals Corp. announced today that the Company and its joint venture partner, High Power Exploration Inc., a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland's Ivanhoe Industries, LLC, are expanding and accelerating the current drill campaign on the San Matias Copper-Gold Project in Colombia.
Cordoba is mobilizing three additional drill rigs to San Matias, increasing the total drills at site to four. The drills are expected to arrive later this month to support an additional 8,000-metre drilling program at the Alacran Copper-Gold Deposit, significantly expanding the previously announced drilling program to 10,000 metres. This program is designed to test the potential of the newly discovered eastern extension of the Alacran deposit, where 150 metres of 0.73% copper and 0.49 g/t gold was intersected in ACD009 and results from soil sampling have identified a 1.3-kilometre by 800-metre gold and copper soil anomaly (See Figure 1 and Figure 2). Recently completed drill holes ACD013 and ACD014 intersected visible sulphide mineralization (assays pending), increasing the lateral width of the Alacran deposit and demonstrating the potential of the eastern extension.
Cordoba also announced that the previously announced 10,000-metre drilling program at the Montiel porphyry target, which is approximately three kilometres north east of the Alacran deposit, has now commenced. This program is designed to test targets identified from the initial 7.5 square kilometre Typhoon IP survey covering Montiel, where previous drilling intersected 101.1 metres of 1.0% copper and 0.65 g/t gold in hole SMDDH004.
Mario Stifano, President and CEO of Cordoba, commented: "We are aggressively increasing our drilling at Alacran from 2,100 to 10,000 metres to test the magnitude of the eastern extension. To date, mineralization has been identified over 1.3 kilometres of strike and up to 300 metres in lateral width, and remains open in all directions. As a result of the expanded drilling at Alacran, the total budgeted drilling program at San Matias has increased materially from 12,000 to 20,000 metres."