Cordoba defines new copper-gold porphyry target and receives drill permits at Cordoba project in Colombia
Friday, Feb 08, 2013
VANCOUVER, Feb. 7, 2013 /PRNewswire/ - Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSXV: CDB) and Minatura International LLC ("Minatura") are pleased to announce that ongoing soil sampling has identified a significant new copper-gold anomaly, which is currently being trenched and potentially constitutes a second drill target for the Cordoba project. The Company is also pleased to report that water use permits, required for drilling at the main Montiel copper-gold porphyry target, have been granted.
The new soil geochemical anomaly is located in the Costa Azul area, some 2400m south of the main Montiel target. It currently extends over an area of 300 by 400 meters east-west, and consists of gold values in the 100 to 400 ppb range, and copper values in the 200 to 1450 ppm range. Samples were collected from 50 meter stations on 100m spaced grid lines.
Follow up prospecting has identified felsic intrusive rocks cut by quartz-magnetite veinlets and carrying disseminated pyrite, chalcopyrite and bornite, in both float and subcrop, over the general area and extending some 300m west of the existing anomaly. Additional soil sampling has been completed to the west and sample results are pending.
A detailed trench sampling program has started on the new anomaly, with initial trench exposures confirming mineralized and veined porphyry host rocks, apparently oriented along an east-west structural trend. Trench mapping is ongoing, samples are being submitted for multi-element analysis and results will be reported as soon as they have been received and interpreted.
Cordoba's President, Peter Thiersch, states: "It's early days, as we have no assays yet, but based on our preliminary observations, we may have discovered a significant new drill target at Costa Azul. The fact that we have exposed some sort of mineralized porphyry intrusive in trenches is important in itself."
A drill program has been designed for the main Montiel target and water use permits for this area have been received. Additional water permits are required for the new Costa Azul target, and these permits have been applied for.
In preparation for drilling, the Company has hired a geophysical contractor to conduct a detailed ground-based magnetic geophysical survey to help define any structural or lithologic controls on mineralization. The survey will commence in February and consist of some 100 line kilometers of data acquisition, covering roughly 10 square kilometers of ground over the Montiel and Costa Azul drill targets, and several other prospective areas as well.
The Company is highly encouraged by the results to date at the Montiel and Costa Azul targets. A significant financing was recently completed and the Company is fully funded for the anticipated 2013 work program and required spending commitments under the option agreement with Minatura. Drilling is expected to commence in April, subject to successful completion of the magnetic survey and receipt of the additional water permits.
SOURCE Cordoba Minerals Corp.