January 23, 2017 07:01 ET Cordoba Minerals Intersects 4,440 g/t Gold, 10.25% Copper, 24.7% Zinc and 347 g/t Silver Over 0.9 Meters in New Discovery
TORONTO, ONTARIO--(Marketwired - Jan. 23, 2017) -Cordoba Minerals Corp. (TSX VENTURE:CDB)(OTCQX:CDBMF) ("Cordoba" or the "Company") and its joint-venture partner, High Power Exploration Inc. ("HPX"), a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland's Ivanhoe Industries, LLC, are pleased to announce that drilling at the San Matias Copper-Gold Project in Colombia has intersected bonanza gold veins at Alacran. The discovery of this new style of high grade gold mineralization represents a separate and significant exploration opportunity at Alacran. Alacran drilling highlights: - ACD036:
- 0.90 meters (m) @ 4,440 g/t gold (Au) + 10.25% copper (Cu) + 24.70% zinc (Zn) + 347 g/t silver (Ag)
- Part of
- 5.00 m @ 800.90 g/t Au + 3.70% Cu + 8.60% Zn + 88.63 g/t Ag
- 136.00 m @ 1.00% Cu + 0.56 g/t Au (cut*)
The 0.90 meter bonanza grade gold intersection in ACD036 is hosted in a late stage, chalcopyrite-sphalerite-carbonate-coarse gold vein that overprints earlier chalcopyrite-pyrrhotite copper-gold mineralization (Figure 1). The high-grade gold vein is similar to Carbonate Base Metal (CBM) vein systems found globally, including Barrick Gold's Porgera gold mine and also Continental Gold's Buritica deposit, located south of Cordoba's licenses along the Mid Cauca belt in Colombia. The discovery of these structurally controlled high-grade gold rich veins represents an important new target to add extremely high value material within the existing inferred copper-gold mineral resource shell and resource expansion. The CBM Vein in ACD036 was intersected at a depth of approximately 90 meters below surface. Copper-gold mineralization at Alacran has now been intersected over a strike length of 1.3 kilometres, to widths of up to 400 meters, and extends from surface to depths of more than 260 meters below surface. Mario Stifano, President and CEO of Cordoba, commented: "We are excited by the discovery of bonanza grade gold in CBM veins as this new style of mineralization adds another significant exploration front to potentially increase the size and scope of mineralization at Alacran. We are still in the very early stages of our aggressive exploration program at our district scale San Matias copper-gold project, but our best in class exploration team and HPX's proprietary Typhoon technology, reminds us that anywhere, anytime, there is potential for a significant discovery at San Matias." Drilling at Alacran will now focus on testing the up-dip eastern extensions of the deposit, the extent of the newly discovered CBM veins including structural controls and the potential source for the mineralization at Alacran.
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