Editors Note: There is an image and two (2) maps associated with this press release.
Cordoba Minerals Corp. (TSX VENTURE:CDB) (Cordoba or the Company) is pleased to announce that the Company has received the three-dimensional (3D) inversion results from the phase one Typhoon Induced Polarization (IP) geophysical survey conducted by Cordoba's joint venture partner, High Power Exploration (HPX), at the San Matias copper-gold project in Colombia.
The recently completed Typhoon IP survey covered the Montiel porphyry discovery, where previous drilling intersected 101 metres of 1.0% copper and 0.65 g/t gold, and the northern part of the Alacran skarn discovery where recent drilling intersected 111 metres of 1.01% copper and 0.38 g/t gold. Results demonstrate a strong correlation between the thick drill intercepts of copper-gold mineralization and the sulphide chargeability targets identified by Typhoon. The survey only covered 7.5 square kilometres of a 200-square-kilometre prospective area for copper-gold mineralization (Figure 1).
Mario Stifano, President and CEO of Cordoba, commented: "The initial Typhoon IP results are extremely encouraging as they indicate multiple large and potentially significant sulphide chargeability targets, highlighting the potential for the San Matias Project to host a tier one, district-scale copper-gold porphyry system. We plan to rapidly expand the Typhoon survey to the north and south of the currently surveyed areas as the significant mineralized trends and targets remain open. Porphyry exploration is a long and complex process, but we have the ideal partner in HPX."
"The chargeability targets identified by Typhoon at the San Matias Project are among the most compelling that we have seen in surveys conducted by HPX on three continents," said Eric Finlayson, President of HPX. "The size of the chargeability anomalies and their location within the richly-endowed Mid Cauca Belt are strong indicators of the copper-gold porphyry potential of this area."
Cordoba and HPX are jointly finalizing plans for the next phase of the exploration program at the San Matias Project. Plans include an expansion of the Typhoon survey to the north and south of the currently surveyed areas; follow-on drilling at the Alacran discovery and at high priority targets defined by the initial Typhoon survey; and further detailed airborne magnetic surveys.
The 3D chargeability model generated by inverting the Typhoon IP survey data predicts the expected electrical properties of the rocks. In this area, zones of high chargeability typically correlate with the occurrence of disseminated sulfide minerals. The chargeable areas are outlined in Figure 2 at about 200 metres depth. Integration of these results with magnetic modelling and analysis of the substantial mapping, geochemical, and structural databases has led to a new set of targets for testing in upcoming drilling programs.
Alacran Copper-Gold System
The Alacran copper-gold discovery is approximately two kilometres southwest of the Company's Montiel porphyry copper-gold discovery where recent drilling intersected 101 metres of 1.0% copper and 0.65 g/t gold, and two kilometres northwest of the Costa Azul porphyry copper-gold discovery where recent drilling intersected 87 metres of 0.62% copper and 0.51 g/t gold. The copper-gold mineralization at Alacran is associated with stratabound replacement of a marine volcano-sedimentary sequence in the core of a faulted antiformal fold structure. Recent drilling at Alacran intersected 111 metres of 1.01% copper and 0.38 g/t gold (see Cordoba's April 11, 2016 news release for details of recent drill results). The Typhoon IP survey covered only the northern extension of the 1.3-kilometre mineralized trend at Alacran.
The deposit comprises moderately to steeply-dipping stratigraphy that is mineralized as a series of sub-parallel replacement-style (or skarn) zones and associated disseminations. The copper-gold mineralization is composed of multiple overprinting hydrothermal events with the main mineralizing phase comprised of chalcopyrite, pyrrhotite and pyrite that appears to overprint a large-scale early magnetite metasomatic event.