Apr 22 2014
Cordoba Minerals ("Cordoba" or the "Company") is pleased to provide an exploration update and 2014 exploration plan at its San Matias Project located in Cordoba, Colombia.
Following consolidation of the San Matias Project and completion of the $15 million equity financing in March 2014 exploration activities have significantly ramped up, including:
- 50 shallow RAB drill holes have been completed at the Montiel West target testing an area of approximately 400 m x 300 m where surface trenching and current drilling has defined mineralization associated with sheeted quartz-magnetite-chalcopyrite-bornite veins in both feldspar-hornblende porphyry and basaltic country rocks
- Currently RAB drill testing the Pirita mine underground workings targeting quartz-pyrite- chalcopyrite-pyrrhotite-magnetite veining and stockwork located immediately north of the Montiel West target and porphyry mineralization
- Current trenching at Costa Azul has returned 75.6 m @ 1 g/t Gold and 0.3% Copper, within a larger +200 m mineralized zone, that remains open in multiple directions, and now incorporates an accelerated trenching program in preparation for RAB drilling
- Discovery of the Buenos Aires prospect located approximately 1 km south of Costa Azul with channel sampling returning approximately 4% Copper in 38 samples over significant widths with elevated levels of LREE's (light rare earth elements) and Uranium associated with a large gossan exposure
- Commencement of a +150 sample stream sediment sampling program within the southern tenure of the Company's 27,000 hectare land package where approximately 8 km of highly prospective strike length of a major mineralized north-south trending structure, that hosts the Montiel, Costa Azul and Buenos Aires targets to the north, remains completely unsampled to date
- Preliminary diamond drilling program of the Montiel West and Costa Azul targets to commence during the second quarter
Mario Stifano, CEO of Cordoba, commented: "With the closing of the transaction and financing we can now focus on drilling and exploring the numerous porphyry copper gold targets identified to date, and start unlocking the full potential of the district scale San Matias Project. We are extremely pleased with the progress of the RAB drilling program and the advancement of the prospects as we prepare for our diamond drilling program."
The Montiel prospect is a 1 km x 800 m target defined by a large coincident copper-gold soil anomaly, trenching and rock-chip sampling over an interpreted porphyry cluster and also where previously reported diamond drilling has included: 101.10 m @ 1.0 % Copper and 0.65 g/t Gold (2.37 g/t AuEq) in DDH-004 at Montiel East. To date 50 RAB drill holes have been completed at Montiel West testing the main outcropping porphyry and mineralized mafic volcanic country rocks in the southwestern parts of the prospect tracking northwards to the recent underground Pirita mine workings utilizing a 50 m x 50 m grid. The mineralization is defined by sheeted quartz-magnetite-chalcopyrite-pyrite-bornite veins that are largely E-W, NE and NW trending with minor N-S zones. The mineralized porphyry, and surrounding mafic volcanic country rocks, has been defined by logging of RAB chips and is generally associated with a stripped saprolite (due to hydraulic mining by artisanal miners) and saprock outcrops.
The RAB drilling is currently testing the Pirita mine underground workings where quartz-pyrite- chalcopyrite-pyrrhotite-magnetite veining and stockwork is being exploited by artisanal miners from basaltic hostrocks. The vein mineralization and associated parallel structures, is associated with a large alteration zone of chlorite-sericite-carbonate alteration, veinlet, disseminated and fracture hosted pyrite-chalcopyrite mineralization.
The RAB drilling will continue north to the Iguana copper-gold in-situ soil anomaly that is located +500 m north of Montiel West. The Iguana prospect is interpreted as potentially being the northern extension of Montiel West as it lies on the same interpreted N-S trending structure with the area in between largely covered by a thin veneer of transported sediment, mainly from the hydraulic mining of the saprolite at Montiel West and adjacent areas. Iguana is a robust copper-gold soil anomaly in an area with thick saprolite that has no outcrop. RAB drilling at Montiel East and the +700 m of strike between the eastern and western outcrops will also follow after the completion of a first pass RAB drilling program at the Costa Azul target.
To view figure 1, please visit the following link: http://media3.marketwire.com/docs/94067801.pdf
The Costa Azul target is a coincident 800 m x 800 m copper-gold soil anomaly associated with a prominent magnetic high geophysical signal. It is located 2.5 km to the south of the Montiel Prospect, on the same major N-S lineament that extends for an additional 9 km to the southern tenure boundary. Recently completed trenching and soil auger sampling has exposed a large area of mineralized porphyry and mafic volcanic country rocks that is interpreted to be the SW part of a NE-trending elongate mineralized porphyry intrusive body. An excavator will now be utilized to accelerate the trenching program to complete up to four additional trenches and extend the current trench which returned 75.6 m @ 1 g/t Gold and 0.3% Copper, within a larger +200 m mineralized interval that remains open in multiple directions. The mineralization at Costa Azul is associated with multi-directional quartz-magnetite-chalcopyrite-bornite veins in feldspar- hornblende porphyry intrusive. The trenching is planned to better define the structural orientation of the veining and will aid the following RAB drilling. The first pass RAB drilling program at Costa Azul will incorporate 30-40 drill holes to better define the dimensions and tenor of the mineralization for follow-up diamond drilling.
To view figure 2, please visit the following link: http://media3.marketwire.com/docs/94067802.pdf
The Company's newly discovered Buenos Aires prospect is located approximately 1 km south of the Costa Azul target where a poorly outcropping 20 m x 30 m (as currently defined) gossan hosts significant copper mineralization that is interpreted to be at the contact of a dioritic intrusion and mafic volcanic country rocks. Channel sampling of the outcropping parts of the gossan has returned an average of 4% Copper in 38 samples over significant widths with elevated levels of LREE´s (light rare earth elements) and Uranium. The prospect contains little outcrop and a trenching program is being planned to better understand the dimensions of the mineralization and the source of the gossan.
To view figure 3, please visit the following link: http://media3.marketwire.com/docs/94067803.pdf
Southern Tenure Prospecting and Stream Sediment Sampling Program
A major stream sediment sampling program in the southern parts of the Company's 27,000 hectare land package has commenced and will target as priority the highly prospective and to date over 8 km of unsampled strike length of a major mineralized N-S trending structure that hosts the Montiel, Costa Azul and Buenos Aires porphyry targets to the north. Additionally, a large southwestern area that measures roughly 5 km x 5 km in dimensions, also unsampled, will be targeted along with numerous geophysical anomalies, including coincident magnetic and potassium channel anomalies generated from a previous airborne geophysical program, and historical and current artisanal hard-rock and alluvial mining areas. This sampling campaign will act as the basis for new prospect generation within the newly recognized and unexplored San Matias Project porphyry district.
To view figure 4, please visit the following link: http://media3.marketwire.com/docs/94067804.pdf
The technical information has been reviewed, verified and compiled by Christian J. Grainger, PhD, a Qualified Person for the purpose of NI 43-101. Dr. Grainger is a geologist with +15 years in the minerals mining, consulting, exploration and research industries. Dr. Grainger is a Member of the Australian Institute of Geoscientists and Australian Institute of Mining and Metallurgy.
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba currently owns 100% of the highly prospective San Matias Project located near operating open pit mines with ideal topography in the Department of Cordoba. For further information, please visit www.cordobamineralscorp.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.