Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) has reported promising results from remaining assay results received from the initial in-fill drilling program at its wholly owned San Matias copper-gold-silver project in Colombia.
The Vancouver-based mineral exploration company said initial in-fill drill results confirm the “strong correlation” with the pre-feasibility study (PFS) block model and will be included in an updated mineral resource model.
"With the completion of the initial in-fill drilling program, I'm delighted that the assay results consistently demonstrated high-grade copper-gold mineralization within the core of the Alacran project," Cordoba CEO Sarah Armstrong-Montoya said in a statement.
READ: Cordoba Minerals receives US$10M loan from JCHX as part of Alacran deal
"Together with the participation of JCHX in the project and the advancing of the Feasibility Study work program, we look forward to an encouraging year for the development of the Alacran deposit," she added.
Cordoba has completed 27,726 meters (m) in 142 diamond drill holes for the initial in-fill drilling campaign. Assay results from the remaining drill holes continue to demonstrate high-grade copper-gold mineralization within the core of the Alacran deposit as predicted by the PFS block model.
The company highlighted the following significant intercepts returned from the remaining initial in-fill drill holes:
- ACD156 - 91.7m from 56.5m to 148.2m with 1.05% copper (Cu), 0.86 grams per ton (g/t) gold (Au) and 9.50 g/t silver (Ag), or 1.55% copper equivalent (CuEq), including 46.90m from 65.5m to 112.4m with 1.72% Cu, 0.55 g/t Au and 16.23 g/t Ag, or 2.02% CuEq.
- ACD157 - 95.4m from 32.9m to 128.3m with 1.31% Cu, 0.38 g/t Au and 7.59 g/t Ag, or 1.49% CuEq, including 28.1m from 32.9m to 61m with 1.42% Cu, 0.23 g/t Au and 5.90 g/t Ag, or 1.49% CuEq, and 44m from 84.3m to 128.3m with 1.79% Cu, 0.62 g/t Au and 11.96 g/t Ag, or 2.11% CuEq.
The company noted that drill holes ACD156 and ACD157 tested the upper and base parts within Unit 2 of the Alacran deposit, which has highly enriched grades of copper, gold and silver mineralization. ACD156 intersected high-grade semi-massive and massive sulfide replacing carbonaceous mudstones, and ACD157 intersected disseminated and semi-massive sulfide hosted by a tuff unit.
Additional shallow high-grade copper-gold intercepts that are similar to ACD 156 and ACD 157 were also returned from the initial in-fill drill results previously announced on October 25, and December 5 last year. The assay results will be included in the next mineral resource model update. The feasibility study will provide an analysis on the potential for early access to the shallow high-grade zones, noted the company.
The initial in-fill drilling program also intersected multiple carbonate base metal (CBM) veins, which could offer significant upside for contained gold in the Alacran deposit. The CBM veins have shown close geological correlation with the vertical high-grade domains in the PFS block model and will be further modelled for potential inclusion in the resource model, said the company.
Cordoba revealed that with the completion of the initial in-fill drilling program, future in-fill drilling will now be focused on the peripheral in-fill areas of the Alacran deposit to estimate the life of mine average grade of the deposit.
In addition to the San Matias project which includes the Alacran deposit and satellite deposits at Montiel East, Montiel West and Costa Azul, Cordoba holds a 51% interest in the Perseverance copper project in Arizona through a joint venture agreement.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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