Cordoba Minerals 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 ongoing drilling at the Alacran Project in Colombia, has continued to encounter high grade copper-gold mineralization.
Recent drill holes have recorded mineralized intercepts of up to 184 metres, many with gold and copper mineralization that are significantly higher than the grades used in the preliminary Inferred Mineral Resource statement with the potential to expand the resource envelope.
Drilling also has resulted in an enhanced understanding of the structural controls to the mineralization, providing good targets for future drilling. In addition, drilling has confirmed additional intersections of the carbonate base metals (CBM) veins, which host the bonanza-grade gold mineralization previously intersected in hole ACD036.
Highlights
- ACD037:
- 34 metres @ 0.94% copper and 0.28 g/t gold (1.15% CuEq; from 68 metres), including:
- 8 metres @ 2.35% copper, 0.55 g/t gold (2.77% CuEq; from 76 metres)
- 34 metres @ 0.94% copper and 0.28 g/t gold (1.15% CuEq; from 68 metres), including:
- ACD040:
- 122 metres @ 0.55% copper and 0.22 g/t gold (0.72% CuEq; from 40 metres), including:
- 12 metres @ 2.01% copper, 0.81 g/t gold (2.63% CuEq; from 82 metres)
- 122 metres @ 0.55% copper and 0.22 g/t gold (0.72% CuEq; from 40 metres), including:
- ACD041:
- 184 metres @ 0.46% copper and 0.28 g/t gold (0.67% CuEq; from 6 metres), including:
- 12 metres @ 1.04% copper, 2.44 g/t gold (2.90% CuEq; from 16 metres) and 2 m @ 9.82 g/t gold, 1.57% copper from 18 metres
- 184 metres @ 0.46% copper and 0.28 g/t gold (0.67% CuEq; from 6 metres), including:
- ACD047:
- 128 metres @ 0.80% copper and 0.24 g/t gold (0.98% CuEq; from 0 metres), including:
- 34 metres @ 1.43% copper, 0.38 g/t gold (1.72% CuEq; from 74 metres)
- 128 metres @ 0.80% copper and 0.24 g/t gold (0.98% CuEq; from 0 metres), including:
- ACD050:
- 42 metres @ 0.55% copper and 1.25 g/t gold (1.51% CuEq; from 76 m), including:
- 18 metres @ 0.98% copper, 1.50 g/t gold (2.12% CuEq; from 20 metres)
- 2 metres @ 11.15 g/t gold, 1.32% copper from 78 metres and 2 metres @ 7.36 g/t gold, 1.56% copper
- 42 metres @ 0.55% copper and 1.25 g/t gold (1.51% CuEq; from 76 m), including:
- ACD057:
- 114 metres @ 0.59% copper and 0.16 g/t gold (0.71% CuEq; from 0 metres), including:
- 8 metres @ 2.66% copper, 0.51 g/t gold (3.05% CuEq; from 106 metres)
- 114 metres @ 0.59% copper and 0.16 g/t gold (0.71% CuEq; from 0 metres), including:
- ACD058:
- 28 metres @ 1.55% copper and 0.58 g/t gold (1.89% CuEq; from 214 metres), including:
- 6 metres @ 4.67% copper, 1.67 g/t gold (5.45% CuEq; from 214 metres)
- 2 metres @ 3.4 g/t gold, 8.89% copper (from 216 metres)
- 28 metres @ 1.55% copper and 0.58 g/t gold (1.89% CuEq; from 214 metres), including:
Mario Stifano, President and CEO of Cordoba, commented: “Drilling at Alacran continues to identify near surface high grade copper-gold mineralization with additional CBM veins intersected in multiple holes over a 400 metre structural trend, indicating potential to identify additional bonanza grade zones and veins.
Our geological understanding of the multiple mineralizing events and structural interpretation at Alacran is improving with visible gold recently intersected in drill hole ACD063, with assays pending. With strong community support, the Company is now positioned to drill deep holes around the artisanal mine workings to identify the source of the higher-grade gold and copper mineralization and target additional CBM veins at Alacran”.
Gold-rich zones at the Alacran project are associated with CBM (carbonate base-metal) style veining that has a zinc-gold association and is interpreted to be a later event overprinting the copper-gold mineralization. Recent drilling analysis has shown that a north-south striking, steeply west-dipping, diorite dyke has been noted in a number of holes.
This dyke appears to have a very strong correlation with high grade Cu-Au replacement mineralization and also appears to have a close affinity with high grade gold, such as the bonanza gold grade reported previously in ACD036 (0.90 meters @ 4,440 g/t gold, 10.25% copper, 24.70% zinc and 347 g/t silver). A direct magmatic-related association between high-grade copper-gold, and potentially the gold-zinc CBM veining, adds additional potential high-grade drill targets over a considerable strike length of the Alacran known mineralization.
The relationship of this dyke to mineralization is outlined in Figure 2, where additional high-grade gold has been intersected in ACD041 (2 metres @ 9.82 g/t gold, 1.57% copper), in ACD050 (2 metres @ 11.15 g/t gold, 1.3% copper and 2 metres @ 7.36 g/t gold, 1.56% copper) and ACD58 (2 metres @ 3.4 g/t gold, 8.89% copper).
There is potential to follow this body down dip to the west for additional replacement-style mineralization. Another primary control on late high-grade gold mineralization at Alacran is a NNE striking fault corridor which appears to control a series of en-echelon CBM style veins (as seen in ACD036). The gold in these veins is coarse and highly “nuggety”, but values typically return in excess of 5 g/t gold.
Diamond drilling, aided through detailed structural interpretation of previously intersected CBM style mineralization, will target these zones in the ongoing drill program at the Alacran project.
This is modified press release
