Cordoba Minerals Acquires the Alacran Copper-Gold Project inColumbia.
TORONTO, ONTARIO--(Marketwired - Oct. 21, 2015) -Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSX VENTURE:CDB) is pleased to announce that it has entered into an option agreement with Sociedad Ordinaria de Minas Omni ("OMNI") to purchase the Alacran Copper-Gold Project ("Alacran" or the "Alacran Project") which is located within Cordoba's San Matias Project. The acquisition enables Cordoba to consolidate the entire San Matias Copper-Gold District in the Department of Cordoba in the northwest of Colombia. Cordoba believes that the Alacran Project remains largely untested and has the potential to host a large scale copper-gold resource.
"The acquisition of the Alacran Project is an important step forward for Cordoba as it adds another high quality project to our portfolio of copper-gold exploration assets in Colombia," said Mario Stifano, Cordoba's President and CEO.
HIGHLIGHTS
Alacran Copper-Gold Project
The Alacran Copper-Gold Project is located within the tenure of the Company's San Matias Copper-Gold Project in the Department of Cordoba, Colombia. Over 13,000 metres of diamond drilling has been carried out at the project to date (see Table 1) including 139 metres of 1.23% Cu and 0.74 g/t Au in SJ-006, 188 metres of 0.71% Cu and 0.25 g/t Au in ASA-012 and 128 metres of 0.84% Cu and 0.45 g/t Au in ASA-014(1).
The majority of the intersected mineralization has only been tested to an average vertical depth of 150 metres, with the deepest intersections only 240 metres below surface. Mineralization is traced over a strike length of greater than 1,300 metres. The copper-gold mineralization defined to date represents an excellent opportunity for Cordoba to delineate a large high-grade, copper-gold resource that has the potential to grow significantly as the deposit is open in almost all directions.
Alacran is approximately two kilometres southwest of the Company's Montiel discovery, where recent drilling interested 101 metres of 1.0% Cu and 0.65 g/t Au, and two kilometres west of Costa Azul where recent drilling interested 87 metres of 0.62% Cu and 0.51 g/t Au1. An initial 3,000 metre diamond drilling program to confirm the known mineralization and test for both vertical and strike extensions is expected to commence in mid-November, 2015.