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Cordoba Minerals Identifies the Leached Cap of a Porphyry Copper System at the Perseverance Project in Arizona, USA
Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Sarah Armstrong-Montoya, Preside...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"Cordoba Minerals Identifies the Leached Cap of a Porphyry Copper System at the Perseverance Project in Arizona, USAVancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise \"Cordoba\" or the \"Company\") is pleased to report on the diamond drilling activity at the Perseverance porphyry copper project, located in northwestern Arizona, USA. The Perseverance porphyry copper project is under a Joint Venture and Earn-in Agreement with Bell Copper Corporation (TSXV: BCU) (\"Bell Copper\"). Cordoba has already earned a 51% interest and has the right to increase its interest to 80% of Perseverance by spending $14.2 million in exploration expenditures before April 24, 2026. Prior drilling shows evidence of a nearby porphyry systemIn January 2024, hole K-23 was drilled approximately 1,000 meters southeast of hole K-22 and 1,000 meters east-northeast of hole K-20 (Figure One). Both holes returned evidence to support the existence of a nearby porphyry system. Hole K-22 tested a large low resistivity anomaly generated by a Magneto Telluric (\"MT\") survey that shares the characteristic features of the giant, high-grade Resolution porphyry copper deposit in Arizona owned by Rio Tinto. The hole encountered clay-filled breccia zones with minor occurrences of pyrite, chalcopyrite in quartz veins and stringers representing distal alteration and mineralization to a porphyry copper system. Hole K-20, intersected 321 meters of anomalous copper assaying 541 ppm copper, within a low MT resistivity anomaly that was interpreted as being on the outer margin of a porphyry copper deposit (refer to Cordoba news release dated October 19, 2021). K-23 potentially points in the right direction to a porphyry system Hole K-23 targeted an undrilled area that could potentially host the core of a porphyry system. The hole drilled through a thick series of gravel followed by a sequence of volcanic basalt that blankets the valley floor before being covered over by the recent gravel fill. Underlying the basalt, Laramide-age porphyry volcanic and tuffaceous units were intersected at 516 meters, which are intensely oxidized with hematite and limonite representing weathered pyrite and chalcopyrite that has formed as a gossan on the surface...