Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) has reported impressive diamond drilling results from the Feasibility Study at its fully owned San Matias Copper-Gold-Silver project in Colombia.
The Vancouver-based mineral exploration company, which is focused on copper and gold, noted that the initial drill results show “strong correlation” with the pre-feasibility study resource block model.
Cordoba kicked off an initial 25,000-metre (m) in-fill drill program in May 2022, which is part of the 40,000m in-fill drilling campaign planned to update the mineral resource and mine plan at the Alacran deposit. The program focuses on the northern and central areas within the Alacran Deposit which host high-grade mineralized zones.
READ: Cordoba Minerals announces start of feasibility study for San Matias copper-gold-silver project, Colombia
A total of 6,385m in 24 diamond drill holes of the initial drill program have been completed to date. The initial drill assays confirm not only the wide higher-grade domains of chalcopyrite-pyrrhotite copper-gold carbonate replacement mineralization within the mineral resource block model but also the presence of multiple late-mineral Carbonate Base Metal (CBM) veins.
"We are excited to see the initial in-fill drill holes supporting the higher-grade domains in our resource model for the Alacran Deposit. The fact that these domains also host multiple CBM veins brings us one step closer to understanding the relationship between the CBM and carbonate replacement events," Cordoba CEO Sarah Armstrong-Montoya said in a statement.
"Results indicate a shared feeder system for the mineralizing fluids and point towards excellent exploration potential to depth, including for a porphyry copper-gold source," she added.
CBM veins offer significant upside for contained gold in the Alacran Deposit, noted the company. CBM veins are a style of structurally controlled gold, silver and base metal mineralization found in association with porphyry intrusions. Spectacularly large examples include the Porgera gold deposit in Papua New Guinea and the Buritica deposit in Colombia.
Bonanza grade gold was previously reported in drill hole ACD036, which returned 0.90m of 4,440 grams per ton (g/t) gold, 10.25% copper, 24.70% zinc and 347 g/t silver. In-fill drill holes ACD087, ACD097, ACD114 and ACD115 during the current campaign have intersected en-echelon CBM veins, said the company.
Cordoba highlighted the following:
- Significant assays returned to date include ACD087 which at 61m returned with 0.99% copper, 0.35 g/t gold and 5.17 g/t silver or 1.17% copper equivalent (CuEq);
- Similarly, ACD097 returned 53m with 0.70% copper, 0.70 g/t gold and 6.18 g/t silver or 1.11% CuEq.
- Multiple late-mineral gold-copper veins, known as CBM veins, have been intersected within drill holes and are superimposed upon high-grade zones of earlier carbonate replacement copper-gold mineralization.
As a result, the firm believes tremendous upside will be realized during mining of the deposit.
Investors can find Alacran deposit initial drill program results in a tabulated format here.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter (NYSE:TWTR): @UttaraProactive