- TSX.V: CDB $0.43
- OTCQX: CDBMF $0.33
Cordoba Minerals Discovers Copper-Gold Porphyry Mineralization at Costa Azul and Better Defines the Montiel West and Pirita Prospects
TORONTO, ONTARIO, August 5, 2014: Cordoba Minerals Corp. (TSX-V:CDB) ("Cordoba" or the "Company") is pleased to announce that the first phase of the ongoing RAB (rotary air blast) drilling program has located widespread copper-gold mineralization associated with diorite porphyry intrusions at the Costa Azul prospect. The shallow drilling program has better defined the porphyry copper-gold mineralization at the Montiel West prospect and higher-grade vein and breccia style mineralization adjacent to the Pirita artisanal underground workings, located immediately north of Montiel West.
Copper-gold (chalcopyrite-pyrite-bornite) mineralization at both Costa Azul and Montiel West is associated with quartz-magnetite stockwork and sheeted veining within diorite porphyry intrusions and adjacent country rocks. Higher-grade, gold-rich vein and breccia (quartz-pyrrhotite-chalcopyrite) mineralization has been located in a number of parallel structures at the Pirita prospect. Costa Azul and Montiel West are the first targets to be tested by RAB in an ongoing drilling program that has currently focused on the northern-most 3 kilometres of strike of the San Matias Project. Surface exploration is underway along the highly prospective additional 10 km of strike of the major north-south structure that hosts the varying styles of porphyry, vein and replacement styles of mineralization located to date within the project tenure. Currently the RAB drill is testing the Iguana target, a copper-gold soil anomaly, located approximately 800 m north of Montiel West. From there the RAB rig will test the large copper-gold soil anomaly that stretches between the Montiel West and Montiel East porphyry targets, some 800 m of strike, and adjacent to the Montiel East artisanal mine workings.
RAB drilling is proving to be highly effective in the assessment of mineralization at shallow depths and although the results cannot be used in resource estimates, each of the targets outlined by the RAB program will be drilled in the current deeper diamond drilling program.
The Costa Azul target is a 800 m x 800 m copper-gold soil anomaly in which 112 shallow RAB drill holes, to average depth of 30 metres, have been completed on a roughly 50 m x 50 m grid. RAB drilling has outlined porphyry copper-gold mineralization in both diorite porphyry intrusions, mafic volcanic country rocks and tonalite intrusions. Maximum down-hole copper and gold results (Figures 1 and 2) show significant, copper and gold mineralization (>0.3 % Cu and/or >0.3 g/t Au) over dimensions of approximately 300 m east-west by 200 m north-south, with mineralization remaining open to the west and southwest towards areas previously trenched.
Highlights of RAB intercepts include:
- CARAB013: 19m @ 0.74 g/t Au and 0.32% Cu from 6 to 25 metres
- CARAB014: 31m @ 0.78 g/t Au and 0.36% Cu from 9 to 40 metres
- CARAB078: 24m @ 0.16 g/t Au and 0.54% Cu from 0 to 24 metres
- CARAB079: 12m @ 0.20 g/t Au and 0.65% Cu, from 0 to 12 metres
- CARAB081: 24m @ 0.53 g/t Au and 0.35% Cu, from 22 to 46 metres
- CARAB082: 32m @ 0.54 g/t Au and 0.59% Cu, from 6 to 38 metres
- CARAB083: 31m @ 0.33 g/t Au and 0.53% Cu, from 0 to 31 metres
- CARAB084: 12m @ 0.64 g/t Au and 0.39% Cu, from 0 to 12 metres
- CARAB085: 22m @ 0.43 g/t Au and 0.50% Cu, from 0 to 22 metres
- CARAB087: 30m @ 0.22 g/t Au and 0.70% Cu, from 0 to 30 metres
- CARAB107: 30m @ 0.51 g/t Au and 0.43% Cu, from 0 to 30 metres
- CARAB108: 31m @ 0.25 g/t Au and 0.61% Cu, from 0 to 31 metres
- CARAB109: 27m @ 0.52 g/t Au and 0.38% Cu, from 0 to 27 metres
- CARAB110: 23m @ 0.73 g/t Au and 0.35% Cu, from 0 to 23 metres
Diamond drilling of the RAB outlined targets has commenced at Costa Azul.
Montiel West and Pirita
The Montiel prospect is a 1 km x 800 m porphyry cluster with associated vein and breccia systems in which 78 RAB drill-holes, with an average depth of 25 metres, have been drilled on a roughly 50 m x 50 m grid. This drilling and also trenching has outlined porphyry copper-gold mineralization in both feldspar-hornblende porphyry intrusions and mafic volcanic country rocks tracking north to the Pirita underground mine workings where higher grade gold with copper mineralization is defined by a series of parallel vein and breccia structures.
At Montiel West maximum down-hole copper and gold results (Figures 3 and 4) show significant copper and gold mineralization (>0.3 % Cu and/or >0.3 g/t Au) at shallow depths over dimensions of approximately 250 m east-west by 200 m north-south. Mineralization remains open to the south and also to the west where significant trench anomalies are evident. At Pirita a number of parallel northwest trending veins have been located that host significant gold and copper mineralization over strike lengths of over 250 m that are open to the north-west and south-east. Given the shallow depth of the RAB drilling at Pirita, more parallel vein and associated breccia structures are interpreted as being present and will be tested with deeper diamond drilling along with Montiel West. The majority of the significant intersections at Pirita remains open down-hole and incorporates significant down-hole widths indicating a potential larger tonnage target style adjacent to the Montiel West porphyry copper-gold target.
Highlights of RAB intercepts at Montiel West include:
- MWRAB001: 12m @ 0.67 g/t Au and 0.60% Cu from 0 to 12 metres
- MWRAB002: 15m @ 0.40 g/t Au and 0.63% Cu from 0 to 15 metres
- MWRAB003: 9m @ 1.04 g/t Au and 0.46% Cu from 0 to 9 metres
- MWRAB004: 6m @ 0.76 g/t Au and 0.60% Cu from 0 to 6 metres
- MWRAB005: 15m @ 0.40 g/t Au and 0.59% Cu from 0 to 15 metres
- MWRAB007: 27m @ 0.61 g/t Au and 0.44% Cu from 0 to 27 metres
- MWRAB008: 9m @ 0.47 g/t Au and 0.54% Cu from 0 to 9 metres
- MWRAB009: 9m @ 0.62 g/t Au and 0.43% Cu from 0 to 9 metres
- MWRAB012: 5m @ 32.64 g/t Au and 1.09% Cu from 0 to 5 metres
- MWRAB013: 18m @ 0.38 g/t Au and 0.77% Cu from 0 to 18 metres
- MWRAB015: 24m @ 0.50 g/t Au and 0.56% Cu from 0 to 24 metres
- MWRAB016: 21m @ 0.42 g/t Au and 0.59% Cu from 0 to 24 metres
- MWRAB020: 13m @ 0.26 g/t Au and 0.77% Cu from 21 to 34 metres
- MWRAB023: 24m @ 0.69 g/t Au and 0.37% Cu from 0 to 24 metres
- MWRAB040: 24m @ 0.50 g/t Au and 0.50% Cu from 0 to 24 metres
- MWRAB035: 21m @ 1.29 g/t Au and 0.17% Cu from 0 to 21 metres
Incl. 3m @ 4.39 g/t Au and 0.24% Cu from 15 to 18 metres
- MWRAB036: 24m @ 1.91 g/t Au and 0.19% Cu from 0 to 24 metres
Incl. 3m @ 7.05 g/t Au and 0.24% Cu from 3 to 6 metres
- MWRAB051: 33m @ 1.76 g/t Au and 0.09% Cu from 0 to 33 metres
Incl. 3m @ 12.38 g/t Au and 0.14% Cu from 6 to 9 metres
- MWRAB057: 12m @ 0.55 g/t Au and 0.13% Cu from 6 to 18 metres
- MWRAB068: 27m @ 0.80 g/t Au and 0.08% Cu from 0 to 27 metres
- MWRAB069: 12m @ 1.12 g/t Au and 0.07% Cu from 12 to 24 metres
- MWRAB070: 19m @ 0.50 g/t Au and 0.05% Cu from 18 to 37 metres
The Montiel West and Pirita targets will be diamond drilled on completion of the Costa Azul drilling in the current program.
"We are extremely pleased with the progress we have made in exploration this year," commented Mario Stifano, CEO of Cordoba. "The RAB drilling has provided us with a quick and effective method of evaluating our multiple copper-gold porphyries. With the information we have received, we can strategically plan our diamond drilling program to explore the targets the RAB drill has identified. As we continue to identify new mineralization in the various targets in our land package, it supports our belief that we are exploring a new copper-gold district in Colombia."
Figure 1. Maximum down-hole copper results from the Costa Azul target with trenching results on geology.
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. Results from RAB drilling are not permissible for the purpose of NI 43-101 resource estimates.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Company's properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.