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Cordoba Minerals Announces Feasibility Study is Underway at its 100%-Owned San Matias Copper-Gold-Silver Project in Colombia
40,000-Metre Infill Resource Drilling Commences at the San Matias Project Vancouver, British ...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Announces Feasibility Study is Underway at its 100%-Owned San Matias Copper-Gold-Silver Project in Colombia40,000-Metre Infill Resource Drilling Commences at the San Matias ProjectVancouver, British Columbia--(Newsfile Corp. - May 31, 2022) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise \"Cordoba\" or the \"Company\") is pleased to announce the start of the Feasibility Study (\"FS\") technical work program at San Matias (the \"Project\") in Colombia. Highlights:The FS will focus on updating the mine plan and mineral resource estimate at the Alacran deposit. It will also involve numerous trade-off studies that are expected to improve project economics.A total 40,000-metre infill diamond drilling campaign is planned and will be the Company's largest drill program conducted to date. The 25,000-metre initial phase drill program has commenced. Six drills are currently turning at the central area of the Alacran deposit, an area shown to hosts multiple high-grade mineralized zones. The San Matias 2022 Preliminary Feasibility Study (\"PFS\") project generated an after-tax NPV of US$415.1M at an 8% discount rate and an IRR of 25.4%, with a 2.2-year payback period using US$3.60/lb copper, US$1,650/oz gold and US$21.00/oz silver (refer to Cordoba's press release dated January 11, 2022). A 20% increase in input metal prices, to US$4.32/lb copper, US$1,980/oz gold and US$25.20/oz silver, increased the PFS after-tax NPV to US$713.3M at an 8% discount rate and an IRR of 34.4%, with a 2.3-year payback period[1]. The current spot price for copper is US$4.31/lb[2].\"The Preliminary Feasibility Study result announced in January 2022 confirmed that the San Matias Copper-Gold-Silver Project will generate positive economics,\" commented Ms. Armstrong-Montoya, President and CEO of Cordoba. \"We are excited to continue advancing the Project, designated as a Project of National Interest by the Government of Colombia, towards the feasibility stage.\"San Matias Copper-Gold-Silver Project Feasibility Study - Resource Estimate Upgrade and Project OptimizationsThe FS technical work program will initially focus on infill drilling of the Alacran deposit with the objectives of further upgrading the resource confidence and conducting trade-off studies expected to i...