Post by
Oilfreak14 on Feb 24, 2014 12:36pm
News for El Dovio surface rights
Colombian Mines Purchases El Dovio Surface Rights Vancouver, British Columbia, February 24, 2014 (TSX-V: CMJ, Frankfurt: X6C) – Colombian Mines Corporation (“Colombian Mines” or the “Company”) is pleased to announce the Company has successfully negotiated the purchase of approximately 35 hectares of surface real estate covering all known and prospective mineralization and surrounding areas at El Dovio. This important acquisition, at a very reasonable price, on a “willing buyer – willing seller” basis, assures the Company future access for exploration and development of the Sabana Blanca, Brazo 1 and other zones. Included in the purchase is significant infrastructure including housing, outbuildings, and installed grid electricity that will enhance future programs and reduce future operating expenses. This important and strategic opportunity came about when the owner approached the Company and indicated a desire to sell the property. The Company enjoys very good relations with the former owner, the local community and all stake holders, and is pleased that the owner sought to sell to the Company before offering to third parties, eliminating potential for speculation. The consolidation of mineral and surface rights benefits the Company in many ways, ensuring access for current and future exploration and development programs, improving operational flexibility on a going forward basis and simplifying environmental management as a consolidated unit. About El Dovio: The Company’s 100% owned El Dovio project, is comprised of 10,106 hectares, in four contiguous Concession Contracts that cover a high grade, gold rich, poly-metallic vein system hosted in metamorphosed marine volcanic rocks. Saw cut, surface channel samples from trenches in the Sabana Blanca zone indicate a zone ranging from 30 to 68 meters wide with an average sampled grade of 4.5 grams gold per tonne (g/T Au) and 0.5 to 2% copper (Cu) with sub-intervals to 27 g/T Au over 7 meters and individual samples ranging from 20 to 104 g/T Au. Recently completed Phase I drilling consistently intersected high grade mineralization consistent with surface results and confirms the down dip extension of mineralization, which remains open to extension on strike and at depth. Up Coming Events: Colombian Mines will be exhibiting at PDAC in Session A, Sunday and Monday, March 2nd and 3rd in booth 2215A. The Company will also be exhibiting in the Core Shack Session B, Tuesday and Wednesday March 4th and 5th, and will be making a corporate presentation Tuesday, March 4 at 4:40 PM, Session Gold – Americas 3, Room 801A, MTCC, South Building