VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 5, 2013) - Mr. Ralph Rushton of Cordoba Minerals Corp. (TSX VENTURE:CDB) ("Cordoba") is pleased to announce that Sabre Metals Inc. ("Sabre") has commenced a preliminary drill program on its San Matias porphyry copper-gold target located in the municipality of Puerto Libertador, department of Cordoba, 200 kilometres north of Medellin, Colombia. Sabre is planning a short drill program to confirm the third dimension of the mineralized system as per the August 2013 agreement with Cordoba and its joint venture partner Minatura International (see Cordoba news release dated August 1, 2013).
Peter Thiersch, the President of Cordoba, commented: "We're excited to see the first stage of drill testing of what we believe to be a potentially major copper-gold porphyry system. Sabre's San Matias drill target is located about 800 meters east of our Montiel prospect and both soil geochem and magnetic surveys indicate the possibility that the two intrusive centers may be related. We are also exploring a similar target about 2km to the south at Costa Azul which suggests we may be looking at a new porphyry district."
Cordoba announced on August 1, 2013 that it had entered into a binding agreement to acquire a 100-per-cent interest in the Cordoba copper-gold property from the Minatura group of companies and the adjacent San Matias property from Sabre Metals Inc. Once completed, the transaction will consolidate a major land package covering multiple porphyry copper-gold targets along an inferred northern extension of the prolific Middle Cauca gold belt of central Colombia, in which several major gold discoveries have been made in recent years. Several intrusive centers have been identified on the two properties and neither property has been drilled, despite a long history of both alluvial and hard rock mining.
Completion of the transaction is subject to a number of conditions, including approval by the shareholders of Cordoba and Sabre, completion of a financing by Cordoba, preparation of a 43-101 compliant technical report on the Cordoba and San Matias Properties, and approval by the TSX Venture Exchange.
The Cordoba and San Matias properties consist of various mining concessions and applications covering approximately 24,790 hectares and 1,465 hectares, respectively. Copper-gold mineralization occurs in both porphyry intrusive and volcanic rocks, associated with sheeted quartz-magnetite veining and potassic alteration styles indicative of a highly prospective porphyry environment.
The Montiel prospect is located some 800 metres west of the San Matias artisanal open-pit operation, and magnetic surveys suggest that the two intrusive bodies may be connected at depth. Significant trench results obtained by Cordoba to date include 30 m of 0.7 g/t gold and 0.8 per cent copper at Montiel, and 30 m of 0.47 g/t gold and 0.47 per cent copper at Costa Azul, from saprolitic rocks near surface. Sabre's channel sampling at San Matias returned 154 m of 2.6 g/t gold and 1.6 per cent copper from bedrock exposures in the pit walls of the open pit.
About Sabre Metals
Sabre Metals Inc. is a privately held company backed by Continental Gold Limited and Grupo de Bullet SA with exploration assets in the department of Cordoba, Colombia. The company's management team has extensive experience in exploring, financing and developing precious and base metal properties.
The Minatura Group of companies is comprised of privately and publicly held companies engaged in the exploration, development and extraction of precious and base metals in Colombia, Ghana, and Sierra Leone. Please visit www.minatura.com for additional information.
About Cordoba Minerals
Cordoba Minerals Corp. is a Vancouver-based mineral exploration company focused on the acquisition and exploration of copper and gold projects in Colombia. Cordoba currently owns 11% of the Cordoba property, and is also actively pursuing additional acquisitions in Colombia. Please visit www.cordobamineralscorp.com for further information.
Geochemical analyses for both Cordoba and Sabre were performed independently by Acme Labs of Vancouver BC. Samples collected by each company were delivered separately to Acme's Medellin, Colombia prep facility for initial crushing and splitting, and the geochemical analyses were conducted in Acme's Vancouver laboratory. For Cordoba, gold analyses were conducted by Fire Assay with an ICP-ES finish, and copper was analyzed by Aqua Regia digestion with an ICP-MS finish. For Sabre, gold analyses were conducted by Fire Assay with an ICP-ES finish, and copper was analyzed by 4 Acid Digest with ICP-MS finish. Both Sabre and Cordoba have a rigorous Quality Assurance and Control (QA-QC) program in place with blanks, duplicates and certified reference standards inserted into the sample stream to monitor laboratory performance.
Cordoba's President, Peter Thiersch, M.Sc., P.Geo. (APEGBC), is Cordoba's Qualified Person in accordance with NI 43-101, and has reviewed and approved the technical content of this release.
ON BEHALF OF THE BOARD
Ralph Rushton, Director
Cordoba Minerals Corp.
Symbol: (TSX VENTURE:CDB)
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the expected benefits of the Transaction, the completion of the Transaction, the receipt of any regulatory and shareholder approvals for the Transaction and the potential of the properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
- Commodity Markets
- Company Earnings