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Cordoba Minerals Corp.
Summary
| Project: | San Matias | |
|---|---|---|
| Deposit: | San Matias | |
| Location: | Colombia | |
| Commodities: | Copper-Gold-Silver | |
| Date: | 7/3/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing PEA | |
| Report details: | 3-7-2019: Cordoba Minerals Corp. announces a Resource Estimation report for its San Matias deposit at the San Matias project. Updated mineral resource estimate for project. VANCOUVER, BRITISH COLUMBIA, July 3, 2019: Cordoba Minerals Corp. (TSX-V:CDB; OTCQ | |
| Resources: | (Resource): 94.9Mt @ 0.71% CuEq (Ind.) and 3.4Mt @ 0.45% CuEq (Inf.) | |
| CP/QP: | [Resources]: Glen Kuntz (Nordmin Engineering Ltd.) | |
| ABSTRACT: | VANCOUVER, BRITISH COLUMBIA, July 3, 2019: Cordoba Minerals Corp. (TSX-V:CDB; OTCQB:CDBMF) (“Cordoba” or the “Company”) is pleased to announce a positive updated Mineral Resource estimate for the San Matias Project, including the Alacran replacement coppergold deposit, in Colombia. The updated Mineral Resource estimate, prepared in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects, has been completed by Nordmin Engineering Ltd. (“Nordmin”) of Thunder Bay, Ontario. Nordmin is also completing the Preliminary Economic Assessment (“PEA”) for the San Matias Project, which is expected later in July. Nordmin has updated the Mineral Resource estimate for the Alacran deposit with an improved geological understanding of structural controls on the high-grade gold veins within the deposit following recent re-mapping of the artisanal workings and re-logging of both historical and Cordoba drill core (see drill hole locations below in Figure 2). This work has led to the identification of gold-rich domains controlled by vertical or near-vertical structures that are traceable along the north-south axis of the deposit, as displayed in Figures 3 and 4 below. These domains were unrecognised in previous iterations of the Resource model. Definition of these structural domains has allowed for a robust geostatistical model to support the inclusion of higher gold grades into the Resource model. Metallurgical test work completed by SGS Canada Inc. (“SGS”) has improved the confidence of the expected copper, gold and silver recoveries within the saprolite, transitional and fresh sulphide zones for each deposit, as previous assumptions were based on limited historical test work. SGS has confirmed that silver is recoverable, providing for the inclusion of silver in the updated Resource model. The recent test work has further demonstrated that up to 50% of the gold and silver may be recoverable by a gravity circuit, which, if verified through further metallurgical testing, would allow production of doré bars on-site. | |
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