Cordoba Minerals Receives Key Exploration Concession Over The Montiel Porphyry Copper-Gold Target In Colombia
VANCOUVER, Oct. 22, 2012 /PRNewswire/ - Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSX-V:CDB) and Minatura International LLC are pleased to announce that the key exploration concession over the Montiel copper-gold porphyry target has been granted on the Company's Cordoba Project in northern Colombia. Highly encouraging copper and gold values have been returned from trenching at the Montiel target, and a phase one diamond drill program has been designed for the project.
The project consists of 25,790 hectares of land in 16 concessions, covering a poorly exposed volcanic/intrusive complex, situated along an inferred northern extension of the highly prospective Cauca Gold Belt. A total of roughly 10,650 hectares have been granted to date, including the latest 290 hectare LEQ-15161 concession, located over the most advanced porphyry copper-gold target, which is exposed in artisanal workings at the Montiel site. Now that the key concession has been granted, Cordoba is moving forward with the water permits required for the drill program, and management anticipates that drilling may commence as early as mid-November.
Trenching recently completed over the shallow open pit workings at Montiel has now outlined a zone roughly 300m north-south and 150m east-west of strongly anomalous gold and copper values in deeply weathered (saprolitic) rock and soils. A total of 694 samples were collected over a total of 990 linear meters of 1-2 meter deep hand trenches, cut along four roughly north-south sections spaced 50m apart. These samples confirmed historic trench results and extended the anomalous area significantly to the north in soils. A map of the results has been posted to Cordoba's website.
The new trenching returned individual gold values as high as 11.1 and 22.3 g/t gold over 1m, with more typical peak values in the 1-2 g/t gold range over broad areas within the pit exposure. Individual copper values ran as high as 2.7 and 1.7 % copper over 1m, with more typical peak values of 0.5 % copper in the pit area. A total of 30 samples ran better than 1 g/t gold, 105 samples ran better than 0.5 g/t gold, and 55 samples ran better than 0.5 % copper.
Significant trench sample composite values include those reported below:
|Trench||Zone||Length (m)||Gold (g/t)||Copper (%)|
An initial diamond drill program has been designed to define the geometry of the copper and gold bearing quartz-magnetite stockwork vein system, which is hosted by diorite porphyry intrusives and/or andesitic volcanics exposed in the artisanal workings. The drill program will also test apparent extensions of the vein system below anomalous soil samples to the north, as well as possible east-west strike extensions outside the central pit area.
All geochemical analyses were performed by Acme Labs of Vancouver BC. Samples collected by Cordoba employees were delivered to Acme's Bogota, Colombia prep facility for initial crushing and splitting, and the geochemical analyses were conducted in Acme's Vancouver laboratory. Gold analyses were conducted by Fire Assay with an ICP-ES finish, and copper was analyzed by aqua regia digestion with an ICP-MS finish. Cordoba has a rigorous Quality Assurance and Control (QA-QC) program in place, inserting blanks, standards and duplicates into the sample stream to insure accuracy of results.
Cordoba's President, Peter Thiersch, M.Sc. P.Geo. (APEGBC), is the Company's Qualified Person in accordance with NI 43-101, and is responsible for the Company's work programs and the accuracy of this news release.
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company focused on the acquisition and exploration of copper and gold projects in Colombia. The Company currently owns 11% of the Cordoba project, and has an option to earn 51% from Minatura International. The Company is also actively pursuing additional acquisitions in Colombia. Please visit www.cordobamineralscorp.com for further information.
About Minatura International
Minatura International LLC is a privately held company engaged in the exploration, development and extraction of precious and base metals in Colombia, Ghana, Sierra Leone and Senegal, and holds over 450,000 hectares of alluvial and hard rock mining claims in these countries. Please visit www.minatura.com for additional information.
ON BEHALF OF THE BOARD,
Peter Thiersch, President
Cordoba Minerals Corp.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of the Company. Actual results may differ materially from those currently anticipated in such statement.
SOURCE Cordoba Minerals Corp.