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Cordoba Announces Positive Updated Mineral Resource Estimate for the San Matias Copper-Gold-Silver Project in Colombia
Vancouver, British Columbia--(Newsfile Corp. - July 3, 2019) - Cordoba Minerals Corp. (TSXV: ...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Announces Positive Updated Mineral Resource Estimate for the San Matias Copper-Gold-Silver Project in ColombiaSignificant Tonnage and Copper and Gold Grade Increases at Alacran Deposit; Preliminary Economic Assessment to be Completed in JulyVancouver, British Columbia--(Newsfile Corp. - July 3, 2019) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (\"Cordoba\" or the \"Company\") is pleased to announce a positive updated Mineral Resource estimate for the San Matias Project, including the Alacran replacement copper-gold deposit, in Colombia. The updated Mineral Resource estimate, prepared in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects, has been completed by Nordmin Engineering Ltd. (\"Nordmin\") of Thunder Bay, Ontario. Nordmin is also completing the Preliminary Economic Assessment (\"PEA\") for the San Matias Project, which is expected later in July.Highlights:Nordmin's work on the San Matias Mineral Resource estimate included a detailed geological re-examination of the structural controls to high-grade gold veins within the Alacran deposit. The updated Mineral Resource estimate also includes, for the first time, the three porphyry copper-gold-silver deposits at Montiel East, Montiel West and Costa Azul (the \"satellite deposits\"; see Figure 1 below).Metallurgical test work improved the expected copper and gold recoveries within the saprolite, transitional and fresh sulphide zones of each deposit and demonstrated that silver is recoverable. Additionally, the test work indicates that up to 50% of the gold and silver may be recoverable by a gravity circuit, which, if verified through further metallurgical testing, would allow production of doré bars on-site.Total Mineral Resources for the San Matias Project include 94.9 million tonnes of Indicated Resources grading 0.51% copper, 0.29 g/t gold and 2.70 g/t silver (0.71% copper equivalent; \"CuEq\"; see footnotes to the table below for the CuEq formula), and 3.4 million tonnes of Inferred Resources grading 0.30% copper, 0.20 g/t gold and 1.30 g/t silver (0.45% CuEq) at a 0.3% CuEq cut-off. Resources are constrained by conceptual open pits for each deposit, and a breakdown is shown in Table 1.Total Indicated Resources contain 488,100 tonnes of copper, 897,900 ounces of gold and 8,245,300 ounces of silver. Total Inferre...