Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) unveiled new findings from its diamond drilling efforts at the Perseverance porphyry copper project situated in northwestern Arizona.
The company said it has identified the leached cap of a porphyry copper system, which is often indicative of the presence of a larger porphyry copper deposit beneath the surface.
Previous drilling at Perseverance had shown evidence of a larger porphyry system, according to Cordoba.
In January 2024, Cordoba Minerals drilled a hole near another in the area, and both holes provided evidence indicating the presence of a nearby porphyry system.
As part of its exploration, Cordoba targeted an unexplored area believed to potentially contain the central core of a porphyry system. The drilling revealed a sequence of geological formations, starting with a thick layer of gravel followed by volcanic basalt covering the valley floor.
Below this basalt layer, Laramide-age porphyry volcanic and tuffaceous units were encountered at a depth of 516 meters. These formations showed intense oxidation, evidenced by the presence of hematite and limonite resulting from weathered pyrite and chalcopyrite, indicating potential porphyry copper mineralization.
Cordoba noted that Arizona's significant copper deposits, contributing around 10% of global production, are linked to Laramide intrusive rocks.
"We are glad to see hole K-23 returned with the appearance of true volcanic rocks in the Laramide porphyry system in a leached cap, which may indicate the top of a porphyry copper system at Perseverance," Sarah Armstrong-Montoya, CEO of Cordoba said in a statement.
The firm plans to undertake a Typhoon IP-resistivity survey to better understand the system and target a follow-up drill campaign, Armstrong-Montoya added.