Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) has told investors that infill drilling at its San Matias copper-gold-silver project in Colombia continues to underscore the asset's credentials.
Assays continue to show high-grade copper-gold mineralization within the Alacran deposit and confirm the strong correlation with the model in the pre-feasibility study.
One hole hit a length of 150.6 metres (m) starting from 40.45m depth and finishing at 191.05m, hitting 0.72% copper, 0.27 grams per ton (g/t) gold and 5.27 g/t silver, or 0.86% copper equivalent. That included a length of 44.38m starting at 46.33m, which hit 1.48% copper, 0.62 g/t gold and 11.23 g/t silver.
"As our initial drill program is nearing completion, I'm delighted that the assay results continue to confirm the PFS block model, and highlight the quality of the project," said Sarah Armstrong-Montoya, the CEO of Cordoba, in a statement.
READ: Cordoba Minerals receives US$2.5M loan from majority shareholder Ivanhoe Electric
"In addition, our teams are advancing the Feasibility Study technical program, Environmental Impact Assessment permitting, and community engagement activities to move the project forward to the next milestone," she added.
So far, Cordoba has completed 25,929m in 127 diamond drill holes of the initial in-fill drilling campaign.
The firm said the results will be included in the next resource update after the completion of the current drilling program and the ongoing feasibility study will determine the potential for early access to the shallow high-grade zones.
The initial drilling program is nearly finished will be transitioning to focus on the peripheral in-fill areas of the Alacran deposit to estimate the life of mine average grade of the deposit, it added.
Cordoba is advancing the wholly-owned San Matias property, which includes the Alacran deposit and satellite deposits at Montiel East, Montiel West and Costa Azul.
Cordoba also holds a 51% interest in the Perseverance copper project in Arizona, USA, which it is exploring through a joint venture and earn-in agreement.
Shares in Canada added 7.7% to C$0.42.
----Updates for share price---
Contact the author at giles@proactiveinvestors.com