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Cordoba Minerals Corp V.CDB

Alternate Symbol(s):  CDBMF

Cordoba Minerals Corp. is a Canada-based company mineral exploration company that is focused on the exploration, development and acquisition of copper and gold projects. The Company is developing its 100% owned San Matias Copper-Gold-Silver Project, which includes the Alacran Copper-Gold-Silver Deposit and satellite deposits at Montiel East, Montiel West and Costa Azul. The San Matias Project is located in the Department of Cordoba, Colombia. The San Matias Copper-Gold-Silver Project is located in the municipality of Puerto Libertador, Department of Cordoba, Colombia, 390 kilometers (km) northwest of Bogotaa and approximately 160 km north of Medellin. The Company also holds a 51% interest in the Perseverance Porphyry Copper Project in Arizona, United States America. Its San Matias comprises mining titles covering over 146.62 square kilometers and has an additional 893.91 square kilometers of mining titles under application.


TSXV:CDB - Post by User

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Comment by teeveeon Apr 06, 2016 9:59am
76 Views
Post# 24735941

RE:NEWS - Robert Friedland enters JV Phase 1

RE:NEWS - Robert Friedland enters JV Phase 1little known by many retail investors, drill results are not considered material. I don't expect to see any drill results until after deep drill testing of Typhoon deep IP surveys. 

santi69 wrote:

Cordoba Minerals Announces HPX has Entered the Next Phase of the San Matias Joint Venture

TORONTO, ONTARIO--(Marketwired - April 6, 2016) - Cordoba Minerals Corp. ("Cordoba" or the "Company") (TSX VENTURE:CDB), is pleased to announce that High Power Exploration Inc. ("HPX"), a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland, has entered Phase One of the Joint Venture Agreement ("JV Agreement") whereby HPX can earn a 25% interest in the San Matias Project in Colombia by spending an additional C$6 million. Phase One of the Joint Venture has commenced as a result of HPX completing an initial C$2.5 million exploration program funded by HPX private placements into the Company (see details in Cordoba's February 29, 2016 news release).

In Phase Two of the Agreement, HPX can earn a 51% interest in the San Matias Project by spending an additional C$10.5 million, for total exploration expenditures of C$19 million. HPX can earn up to a 65% interest in the project by carrying it to feasibility.

HPX has also acquired a direct 50.1% interest in Sociedad Ordinaria de Minas Omni ("OMNI"), owners of the Alacran Copper-Gold Project (see October 21, 2015 news release), for approximately US$3.3 million. The Joint Venture has the option to acquire a 100% interest in the property, which is located within Cordoba's San Matias Project, and is currently completing a 3,000-metre drill program as part of the earn-in agreement. The share acquisition simplifies the OMNI shareholder structure, will contribute to the HPX earn-in under Phase One of the JV Agreement and will give HPX a 50.1% share of option payments and royalties attributable to OMNI under the Alacran earn-in agreement.

"I am very pleased that HPX is proceeding to the next phase of our partnership and has committed additional funds to advance our exploration efforts at the San Matias Copper-Gold Project in Colombia including Alacran, where we believe the potential exists to make a world-class discovery. The purchase of the OMNI shares provides HPX with a controlling interest in the company for the benefit of both Cordoba and HPX," commented Mr. Stifano, President and CEO of Cordoba.

The Company also announced that the Definitive Agreement for the acquisition of the Alacran Project from OMNI has been completed and the Company issued 100,000 warrants pursuant to the previously announced earn-in agreement. Each warrant is exercisable to acquire one common share of the Company at an exercise price of $0.21 until April 1, 2018.

Click here for news release



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