Mercedes news! Colombian Mines samples 2.3 g/t Au at Mercedes
2013-03-27 06:39 ET - News Release
Mr. Robert Carrington reports
NEW HIGH GRADE ZONE AT MERCEDES RETURNS 203 G/T SILVER AND 10.1% COPPER IN GRAB SAMPLES FOR COLOMBIAN MINES
Colombian Mines Corp.'s reconnaissance work has identified additional high-grade mineralization up to 2.3 grams gold per tonne (g/t Au), 203 grams silver per tonne (g/t Ag) and 10.1 per cent copper (Cu) in grab samples from outcropping mineralization in a new area approximately 1.5 kilometres wide by two kilometres long. This new area is located roughly 3.3 kilometres south-southeast of the area where previously announced mineralization returned results to 49.8 grams (1.6 troy ounces) gold, 744 grams (23.9 troy ounces) silver per tonne and 26.47 per cent Cu from the company's 100-per-cent-owned Mercedes property.
Mineralized boulders found and sampled during the reconnaissance work assayed to 1,894 grams silver per tonne (61 troy ounces) and 10.4 per cent Cu in grab samples and indicate, yet, undiscovered mineralization may be present elsewhere on the property. Loose boulders, referred to as "float," have generally been transported an unknown distance from their source, and cannot be relied on to the same extent as outcrop samples. However, they are a strong indication of potential mineralization sourced further up stream, which in this case is generally to the west and northwest, a more remote part of the licence not yet visited by the company's reconnaissance team.
Mineralization in this part of the licence has been encountered over an area more than two kilometres long and 1.5 kilometres wide, and occurs as disseminated, stock work and veins. Much like the mineralization previously described, some of the highest grade copper and silver values were found in zones almost completely devoid of vegetation, presumably due to the naturally toxic effects of copper and silver on vegetation. Photographs of some of these zones have been posted to the company's website with the issuance of this release and are available for viewing.
As part of this work, 100 grab samples were collected from this new area of the property excluding the grab samples of boulders, standards and duplicate samples used for quality assurance/quality control. The spacing of the samples is irregular and confined to areas of readily accessible exposure. Values of the samples range from below the limit of detection (bld) to 2.28 g/t Au, bld to 240 g/t Ag and bld to 10.4 per cent Cu with the best individual sample containing 203 g/t Ag and 10.1 per cent Cu. Of the 100 grab samples 30 per cent are considered highly anomalous for gold containing greater than 100 parts per billion Au, 44 per cent are highly anomalous for silver containing more than three parts per million Ag and 43 per cent are highly anomalous for copper containing more than 1,000 parts per million (0.1 per cent) Cu.
The results discussed in this press release are from reconnaissance, grab geochemical samples. These samples are collected either randomly over an outcrop or in a line forming a "semi-continuous" chip-channel sample. These samples are commonly used for reconnaissance to quickly evaluate the mineral potential of an area and rely heavily on the geologist's or technician's judgment. Chip samples are not considered to be as representative as channel samples. Channel samples are higher precision samples, typically cut three to four centimetres wide and two to three centimetres deep with hammer and chisel during more advanced exploration.
Robert Carrington, president and chief executive officer of the company, comments that: "Mercedes is an exciting, very early stage exploration project. We are still a long way from being able to call it a discovery but finding so much high-grade mineralization over such a large area on a first pass reconnaissance program suggests a large, strong mineralized system is present with excellent discovery potential. Mercedes is an excellent follow up to our El Dovio project." As stated previously, "Mineralization (at Mercedes) is hosted in a belt of Mesozoic age, volcanic rocks that extend northward into this part of Colombia from Ecuador that are known to host other intermediate sulphidation epithermal deposits ... ."
Quality assurance/quality control
The company's samples are collected in accordance with accepted industry best practices. After collection, each sample is double bagged, sealed individually and delivered to the SGS Laboratories facility in Medellin, Colombia. Sample analysis is conducted by SGS at its newly completed Medellin laboratory. The company maintains rigid QC/QA through insertion of a series of blanks, duplicates and certified standards at a rate of 1:30 or higher.
Robert G. Carrington, PGeo, a qualified person as defined by National Instrument 43-101, the president and chief executive officer of the company, has reviewed and verified the technical information contained in this news release.
We seek Safe Harbor.