Business
Cordoba Minerals Outlines Exploration Plans for Cordoba Property in Colombia
VANCOUVER, May 8, 2012 /CNW/ - Cordoba Minerals Corp. ("Cordoba" or the "Company" - formerl...
About this update from Cordoba Minerals Corp.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 8, 2012 /CNW/ - Cordoba Minerals Corp. (\"Cordoba\" or the\n \"Company\" - formerly Wesgold Minerals Inc.) (TSX-V:CDB) and Minatura\n International LLC (\"Minatura\") are pleased to provide an update on the\n 25,790 hectare Cordoba copper-gold project, located roughly 200km north\n of Medellin, Colombia. Cordoba has an option to acquire a 51% interest\n in the property from Minatura, by spending $15 million on exploration\n and making certain cash payments, over a 30 month period (please refer\n to the Company's SEDAR filings for full details). Initial work on the\n property has confirmed the presence of a highly prospective copper/gold\n porphyry system exposed in artisanal workings.\n\n\nThe project is at an early stage, however the discovery of a robust\n quartz/magnetite stockwork system hosted by porphyry intrusive and\n volcanic rocks, returning significant copper-gold grades and situated\n along an inferred extension of the Middle Cauca Gold Belt of Colombia,\n indicates this large property has excellent potential. This belt is\n known to be highly prospective for copper-gold mineralization, with\n over 50 million ounces of gold being discovered in just the last five\n years. The Cordoba property has never been drilled tested or seen any\n methodical exploration until now.\n\n\nWork completed to date includes a 1310 line kilometre regional airborne\n Magnetometer and Radiometric survey covering 216 square kilometres of\n the northern half of the property, and preliminary hand trenching and\n rock sampling in the central target area, in and around an artisanal\n open pit mine. Initial trench results in this area returned significant\n values such as: 18 metres of 1.35 g/t gold with 0.54% copper; 21 metres\n of 1.76 g/t gold with 0.32% copper; and 17 metres of 0.94 g/t gold with\n 0.69% copper (see news release of March 1st, 2012). Soil sampling over a larger area surrounding the pit has\n returned encouraging copper-gold anomalies over a 500 x 700 meter area,\n which remains open to the south, northwest and east.\n\n\nOutcrop exposure over this large property is limited, so soil sampling\n and geophysical surveying will be key to further discoveries in the\n district, as will mapping and interpretation of other artisanal\n workings within the land position. The airborne geophysical survey\n outli...