Sep 6 2013
Mr. Ralph Rushton of Cordoba Minerals Corp. is pleased to announce that Sabre Metals Inc. (“Sabre”) has commenced a preliminary drill program on its San Matias porphyry copper-gold target located in the municipality of Puerto Libertador, department of Cordoba, 200 kilometres north of Medellin, Colombia. Sabre is planning a short drill program to confirm the third dimension of the mineralized system as per the August 2013 agreement with Cordoba and its joint venture partner Minatura International (see Cordoba news release dated August 1, 2013).
Peter Thiersch, the President of Cordoba, commented: “We’re excited to see the first stage of drill testing of what we believe to be a potentially major copper-gold porphyry system. Sabre’s San Matias drill target is located about 800 meters east of our Montiel prospect and both soil geochem and magnetic surveys indicate the possibility that the two intrusive centers may be related. We are also exploring a similar target about 2km to the south at Costa Azul which suggests we may be looking at a new porphyry district.”
Cordoba announced on August 1, 2013 that it had entered into a binding agreement to acquire a 100-percent interest in the Cordoba copper-gold property from the Minatura group of companies and the adjacent San Matias property from Sabre Metals Inc. Once completed, the transaction will consolidate a major land package covering multiple porphyry copper-gold targets along an inferred northern extension of the prolific Middle Cauca gold belt of central Colombia, in which several major gold discoveries have been made in recent years. Several intrusive centers have been identified on the two properties and neither property has been drilled, despite a long history of both alluvial and hard rock mining.
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 on the Cordoba and San Matias Properties, and approval by the TSX Venture Exchange.
The Properties
The Cordoba and San Matias properties consist of various mining concessions and applications covering approximately 24,790 hectares and 1,465 hectares, respectively. Copper-gold mineralization occurs in both porphyry intrusive and volcanic rocks, associated with sheeted quartz-magnetite veining and potassic alteration styles indicative of a highly prospective porphyry environment.
The Montiel prospect is located some 800 metres west of the San Matias artisanal open-pit operation, and magnetic surveys suggest that the two intrusive bodies may be connected at depth. Significant trench results obtained by Cordoba to date include 30 m of 0.7 g/t gold and 0.8 per cent copper at Montiel, and 30 m of 0.47 g/t gold and 0.47 per cent copper at Costa Azul, from saprolitic rocks near surface. Sabre’s channel sampling at San Matias returned 154 m of 2.6 g/t gold and 1.6 per cent copper from bedrock exposures in the pit walls of the open pit.
Source: http://www.cordobamineralscorp.com