• TSX.V: CDB $0.43
  • OTCQX: CDBMF $0.33

Cordoba Minerals Reports High-Grade Mineral Resources for the Alacran Copper and Gold Deposit

January 5, 2017 Download PDF

TORONTO, ONTARIO, January 5, 2017: Cordoba Minerals Corp. (TSX-V: CDB; OTCQX: CDBMF) (“Cordoba” or the “Company”) and its joint-venture partner, High Power Exploration Inc. ("HPX"), a private mineral exploration company indirectly controlled by mining entrepreneur Robert Friedland’s Ivanhoe Industries, LLC, are pleased to announce an initial Mineral Resource estimate for the Alacran Copper-Gold Deposit in Colombia.

Highlights (the figures referenced are at end of news release)

  • The initial, pit-constrained, Inferred Mineral Resource for the Alacran Deposit is 53.52 million tonnes at 0.70% copper and 0.37 g/t gold, or 0.95% copper equivalent (CuEq), including 7.37 million tonnes at 2.14% copper and 0.41 g/t gold above 1% copper (Cu) cut off.
  • The Inferred Mineral Resource is contained within a shallow, north-south trending mineralized corridor that is approximately 1.3 kilometres long and up to 355 metres wide.
  • Mineral resources are reported within a conceptual open-pit shell which extends for the full length of the 1.3-kilometre corridor and to a depth of 220 metres below surface (see figure 2 and 4). The broad horizontal widths of mineral resource zones from surface are considered favorable for potential open-pit development at relatively low potential strip ratios, subject to the demonstration of economic viability (see figures 2, 4, 5 & 6).
  • Copper-gold mineralization has been intercepted in drill holes below the conceptual pit shell and also at depths greater than 220 metres below surface; however, this mineralization was not included in the initial Inferred Mineral Resource due to insufficient drilling at the Mineral Resource cut-off date (see figures 4, 5 & 6). This mineralization provides the joint venture with immediate drilling targets which could materially expand the Inferred Mineral Resource.
  • The Alacran mineralized system remains open to depth. Surface copper-gold geochemical anomalies also indicate significant potential for additional mineralized zones to the east and west of the Mineral Resource.
  • The potential for the discovery of the mineralizing source for the high-grade copper and gold at Alacran is considered strong. Drill targets have been identified and will be aggressively tested by the joint venture this year.

Table 1: El Alacran Mineral Resource as at October 27, 2016

Inferred Material Grade Metal Copper Equivalent
(Mt) Copper
(%)
Gold
(g/t)
Copper
(Mlb)
Gold
(Koz)
CuEq
(%)
CuEq
(Mlb)
>0.3 CuEq 53.52 0.70 0.37 827 644 0.95 1,121
>1.0% Cu 7.37 2.14 0.41 348 98 2.42 393

* Pit constrained mineral resources are reported in relation to a conceptual Whittle pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All figures are rounded to reflect the relative accuracy of the estimate. Mt: millions of tonnes; Mlb: millions of pounds; Koz: thousands of ounces.

**Copper equivalent grades are based on estimated copper and gold values, metal prices $2.50/lb Cu and $1300/oz gold (Au). Metal prices are not constant and are subject to change.

*** Pit constrained mineral resources are reported at a copper equivalent cut-off of 0.3% and applying assumed metal recoveries of 90% for Cu and 80% for Au. Note no metallurgical test work has been undertaken by Cordoba and the recoveries are estimates only.

**** Capped copper and gold assay composites were interpolated by ordinary kriging constrained within geologically constrained copper-gold grade shell boundaries (Figure 3).


The Mineral Resource estimate was independently prepared by Mining Associates Limited (“MA”), a leading global geological, resource and mining consultancy, and is reported in accordance with National Instrument 43-101 (“NI 43-101”) and the 2014 CIM Definition Standards. The Inferred Mineral Resource estimate is based on 20,200 metres of diamond drilling completed as at October 27, 2016.

Mario Stifano, President and CEO of Cordoba, commented, “We are pleased with the initial mineral resource which demonstrates the potential for the Alacran Project to host a significant tonnage of high-grade, potentially open-pittable copper-gold mineralization. This is just the beginning as our ongoing, aggressive drilling program is aimed at growing the mineral resources in size and confidence levels, extending high-grade copper- and gold-rich mineralized zones and drilling additional exploration targets with potential to add a new and significant exploration front to Alacran.”

Alacran Location and Geography

The Alacran copper-gold deposit is located within the Company’s San Matias Copper-Gold Project in the Department of Cordoba, Colombia, an area where access and infrastructure are considered favorable. The Alacran system is located on a topographic high in gently rolling topography, optimal for potential open-pit mining. Copper-gold mineralization at Alacran is largely hosted in a marine volcano-sedimentary package on the west-dipping limb of a faulted antiformal fold structure and partly in dioritic and felsic intrusions with sill-like geometries (Figure 1). The deposit comprises moderately- to steeply-dipping copper-gold mineralized zones, broadly concordant with host litho-stratigraphy and intrusion contacts. The copper-gold mineralization consists of chalcopyrite-pyrrhotite-pyrite veins, replacements (including massive sulfides) and disseminations that locally overprint hydrothermal magnetite-rich zones that are most strongly developed near intrusion contacts. Mineralization occurs over a strike length of more than 1,300 metres with horizontal widths up to 355 metres and has been drill-intersected to depths of 300 metres from surface.

Mineral Resource Parameters

The drilling database utilized in resource estimation was closed on October 27, 2016 and comprises 76 diamond drill-holes totaling 20,197 metres including 11,230 metres drilled by Ashmont Resources in 2011 and 2012 (see Table 3 for holes drilled by Cordoba). A total of 19,958 assay samples were used to constrain the resource estimation, of which 4,705 samples are copper-gold mineralized, providing 2,202 two-metre assay composites used to form the resource estimate.

Composite lengths and high-grade cuts based on spatial distribution and probability plots were applied as follows:

  • Copper and gold assay data was composited to two metres down hole within geological domains; a copper grade cap was applied at the 97.5th percentile in high-copper domains and 98th percentile in the lower grade domains.
  • Gold assays were composited to two metres down hole within copper domains and were capped near the 98th percentile.

Block model block-size selection (XYZ 20 x 20 x 10m) is based on approximately ½ the drill hole spacing in Mina Norte. Sub-blocking is permitted 5x5 x 2.5m for volumes. The block model is screened for LIDAR–based topography by sub-blocks.

The geological resource is constrained by sub-block within seven wireframes (“grade shells”) in domains based on lithology, structure and a minimum sample grade of 0.3% CuEq and may include minor internal dilution (e.g. Figures 3, 4, 5 & 6). Gold, iron and sulfur are constrained by the low-grade CuEq shells, iron and sulfur are also estimated unconstrained to inform the waste blocks. Separate grade-shells were created for high-grade copper and gold based on grade >1% Cu and > 1g/t Au respectively.

The constraining grade shells are modelled within a corridor, elongate approximately 1.3 kilometres north-south, of up to 355 metres horizontal width and interpolated/extrapolated to depths locally reaching 300 metres from surface (Figures 2 and 3).

Copper and gold grades were interpolated into the constrained block model by domain using ordinary krige techniques. Kriging parameters are derived from a study of variography by domain. The block model was validated by statistical and visual comparison of data and estimated grades and by alternate estimation methods.

Routine bulk density measurements (747) show some variation with an average bulk density of 3.01 t/m3. Bulk density was calculated based on an iron regression, BD=0.0292 x Fe% + 2.5599, utilising block iron contents estimated as outlined above.

Mineral Resources have been classified as Inferred. Resource classification is based on confidence in grade continuity and geological models of the primary commodities (Cu, Au). The inferred resource lies above ‑30 mRL and within a conceptual Whittle pit shell (Figures 2, 5, & 6). Drill spacing in Mina Norte approximates a 40 x 40 m grid, drilling at Mina Seca has one to two holes per section.

Mineral Resources are reported at various copper grade ranges, within the 0.3% CuEq shell, clearly identifying the proportion of mineralization below 0.3% copper that is enriched in gold in the resource (Table 2) in both resource domains (Mina Norte & Mina Seca, Figure 3). Tonnages are rounded to the nearest million tonnes, copper grades are rounded to two decimal places and accessory minerals are rounded to one decimal place. Rounding as required by reporting guidelines reflect the accuracy of the estimates and may result in apparent summation differences between tonnes grade and contained metal.

Table 2: Inferred Mineral Resource at El Alacran resource at various Copper Cut-offs (total inferred resource above 0.3% CuEq and within conceptual pit)*

Inferred Copper Material Grade Metal Copper Equivalent
Deposit Cut Off (Mt) Copper
(%)
Gold
(g/t)
Copper
(Mlb)
Gold
(Koz)
CuEq
(%)
CuEq
(Mlb)
Mina Norte 0.0 to 0.3 0.69 0.27 0.31 4 7 0.47 7
0.3 to 1.0 28.82 0.52 0.27 328 255 0.70 445
> 1.0 4.65 1.98 0.34 203 51 2.21 226
Sub Total 34.16 0.71 0.28 535 313 0.90 678
Mina Seca 0.0 to 0.3 4.35 0.24 0.65 23 91 0.68 65
0.3 to 1.0 12.29 0.46 0.49 125 193 0.79 214
> 1.0 2.72 2.41 0.54 145 47 2.78 167
Sub Total 19.36 0.69 0.53 293 331 1.04 444
Total > 0.3% CuEq 53.52 0.70 0.37 827 644 0.95 1,122

*Mineral Resources are not Mineral Reserves do not have demonstrated economic viability. Mineral resources are reported above a conceptual pit shell, and using a copper equivalent cut-off of 0.3% and apply assumed metal recoveries of 90% for Cu and 80% for Au. No metallurgical test work has yet been undertaken by Cordoba.

Outside of the Inferred Mineral Resource, there is unclassified copper-gold mineralization identified in the grade shell models that either lacks confidence in grade and geological continuity (e.g. Mina Este, Figure 4, legend item 4) or is at depth below the -25m RL This mineralization provides immediate drilling targets for potential mineral resource additions.

Further drilling may be expected to increase the confidence levels in, and also potentially add, mineral resources. The Company expects to update the Mineral Resources during the second quarter of 2017 after the expected completion of its current drilling program. The Alacran system remains open to depth along much of its strike length and surface copper-gold geochemical anomalies indicate the potential for largely untested mineralized zones to the east and west of current mineral resources.

Alacran Option Agreement

The Joint Venture has an option (the "Option") to earn a 100% interest in the Alacran Project by completing the remaining commitments (see Cordoba news release dated October 21, 2015):

  • A US$250,000 payment to Sociedad Ordinaria de Minas Omni ("OMNI") on the 24-month anniversary of signing the Letter of Intent (“LOI”).
  • A US$1,000,000 payment to OMNI on the 24-month anniversary of completion of the Definitive Agreement.
  • Cordoba will file with the Colombian government for the relevant approvals to conduct activities of construction and commercial production at Alacran before June 30, 2018.
  • A US$14,000,000 payment to OMNI when the environmental license and all other approvals, permits or licenses required to commence the construction and operation of a commercial mine at Alacran have been granted on a final basis by the Colombian government.

OMNI will retain a 2% net smelter royalty with advance royalty payments of US$500,000 commencing three years after receipt of approvals to commence construction at Alacran or six years after filing for approval to commence construction at Alacran. HPX has previously purchased a 50.1% interest in OMNI (see Cordoba news release dated April 6, 2016).

Technical Information

The current mineral resource estimate was completed by MA, under the direction of Ian Taylor MAusIMM (CP), an independent Qualified Person as defined by NI 43-101. The QP visited the El Alacran property and supervised the geological modelling input to the current study. CIMM definitions and guidelines were followed for Mineral Resource estimation based on the parameters outlined above. Readers are reminded that Inferred Mineral Resources do not have demonstrated economic viability. Mr. Taylor has reviewed this news release and consented to the inclusion of extracts from, or a summary of, the technical information prepared under his direction and supervision. A technical report providing details of the Inferred Mineral Resource estimate will be filed on SEDAR (www.sedar.com) within 45 days.

The technical content of this news release has been compiled, reviewed and verified by Vic Wall, PhD, a Qualified Person for the purpose of NI 43-101. Dr. Wall is a geologist with over 45 years in the minerals mining, consulting, exploration and research industries and is a Fellow of the Australian Institute of Geoscientists (AIG).

About San Matias Project

The San Matias Copper-Gold Project comprises a 20,000-hectare land package on the inferred northern extension of the richly endowed Mid-Cauca Belt in Colombia. The project contains several known areas of porphyry copper-gold mineralization, copper-gold skarn mineralization and vein-hosted, gold-copper mineralization. Porphyry mineralization at the San Matias Project incorporates high-grade zones of copper-gold mineralization hosted by diorite porphyries containing secondary biotite alteration and various orientations of sheeted and stock-work quartz-magnetite veins with chalcopyrite and bornite. The hydrothermal copper-gold mineralization at Alacran is associated with stratabound replacements and veining of a marine volcano-sedimentary sequence in the vicinity of dioritic intrusions. The nature of mineralization encountered at San Matias is similar to other large high-grade copper-gold deposits.

Joint Venture Agreement

The San Matias Project is a joint venture between Cordoba and HPX, a private mineral exploration company founded by mining entrepreneur Robert Friedland. HPX has earned a 51% interest in the San Matias Project and has entered Phase Three of the Joint Venture Agreement, whereby HPX can earn up to 65% by carrying the project to feasibility.

About High Power Exploration

HPX is a privately owned, metals-focused exploration company deploying proprietary in-house geophysical technologies to rapidly evaluate buried geophysical targets. The HPX technology cluster comprises geological and geophysical systems for targeting, modelling, survey optimization, acquisition, processing and interpretation. HPX has a highly experienced board and management team led by Chairman and Chief Executive Officer Robert Friedland, Co-Chairman Ian Cockerill, a former Chief Executive Officer of Gold Fields, and President Eric Finlayson, a former head of exploration at Rio Tinto. For further information, please visit www.hpxploration.com.

About Cordoba Minerals

Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects in Colombia. Cordoba has a joint venture with High Power Exploration on the highly prospective, district-scale San Matias Copper-Gold Project located close to sea level with excellent infrastructure and near operating open-pit mines in the Department of Cordoba. For further information, please visit www.cordobaminerals.com.

ON BEHALF OF THE COMPANY

Mario Stifano, President and CEO
Cordoba Minerals Corp.

Email: info@cordobamineralscorp.com
Website: www.cordobaminerals.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release includes certain forward-looking informationwithin the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate, "forecast", “expect”, "potential", "project", "target", "schedule", budget" and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “mightoccur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Companys properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Companys expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Figure 1: Plan view of Alacran geological model showing generally west-dipping lithostratigraphy, with mafic to intermediate volcanics & volcaniclastics in the east and footwall to the main copper-gold mineralised zones hosted mainly by avolcaniclastic -epiclastic sequence that is intruded by intermediate sills and also larger dioritic bodies in the west and north. Mineralization also locally overprints the intrusions.

Figure 2: Plan view of copper-gold mineralization “grade” shells, drill-hole traces and conceptual Whittle pit shell

3: 3D view (towards north-east) of west-dipping “grade” shells under Lidar topography, draped by surface imagery.

Figure 4: Copper-gold mineral resources in the Inferred category and unclassified mineralized material in relation to a conceptual Whittle pit shell and drill-hole traces, 3D view towards northeast.

Figure 5: Section 855740mN showing drilling results and the broad width of Inferred mineral resource copper grades within a conceptual pit. Copper-gold mineralization may extend to depth below the resource blocks and also below the conceptual pit

Figure 6: Section 855720mN showing drilling results and the broad width of Inferred mineral resource copper grades within a conceptual pit. Copper-gold mineralization may extend to depth below the resource blocks and also below the conceptual pit. Figure 4 & Figure 5 may be compared to give an impression of the north-south continuity of mineralization

Table 3: Table of intercepts for Cordoba drill holes contained within this Mineral Resource estimate

HoleID From
(m)
To
(m)
Interval
(m)
% CuEq Summary %CuEq Cutoff
ACD001 53 68 15 0.37 15m @ 0.25% Cu + 0.15g/t Au (from 53m) 0.30%
76 91 15 0.59 15m @ 0.58% Cu + 0.02g/t Au (from 76m) 0.30%
101 121 20 0.40 20m @ 0.33% Cu + 0.09g/t Au (from 101m) 0.30%
128 248 120 1.14 120m @ 0.87% Cu + 0.35g/t Au (from 128m) 0.30%
including 143 156 13 1.97 13m @ 1.4% Cu + 0.74g/t Au (from 143m) 1.00%
and 153 156 3 4.21 3m @ 3.25% Cu + 1.26g/t Au (from 153m) 2.00%
and 163 212 49 1.54 49m @ 1.23% Cu + 0.41g/t Au (from 163m) 1.00%
and 170 175 5 3.88 5m @ 3.29% Cu + 0.78g/t Au (from 170m) 2.00%
and 179 184 5 2.43 5m @ 2.06% Cu + 0.48g/t Au (from 179m) 2.00%
and 225 234 9 1.00 9m @ 0.77% Cu + 0.3g/t Au (from 225m) 1.00%
264 272 8 0.53 8m @ 0.48% Cu + 0.07g/t Au (from 264m) 0.30%
ACD002 107 227 120 0.76 120m @ 0.56% Cu + 0.26g/t Au (from 107m) 0.30%
including 158 177 19 2.39 19m @ 1.92% Cu + 0.62g/t Au (from 158m) 1.00%
and 166 176 10 3.36 10m @ 2.72% Cu + 0.85g/t Au (from 166m) 2.00%
249 262 13 0.46 13m @ 0.42% Cu + 0.06g/t Au (from 249m) 0.30%
ACD003 98 113 15 0.87 15m @ 0.65% Cu + 0.29g/t Au (from 98m) 0.30%
130 193 63 0.47 63m @ 0.37% Cu + 0.14g/t Au (from 130m) 0.30%
ACD004 42 92 50 0.62 50m @ 0.53% Cu + 0.12g/t Au (from 42m) 0.30%
including 69 74 5 2.08 5m @ 1.84% Cu + 0.32g/t Au (from 69m) 1.00%
and 85 89 4 1.20 4m @ 0.94% Cu + 0.35g/t Au (from 85m) 1.00%
101 197 96 0.75 96m @ 0.61% Cu + 0.19g/t Au (from 101m) 0.30%
including 122 127 5 1.21 5m @ 1.06% Cu + 0.2g/t Au (from 122m) 1.00%
and 138 145 7 1.95 7m @ 1.54% Cu + 0.54g/t Au (from 138m) 1.00%
and 141 144 3 2.73 3m @ 2.19% Cu + 0.71g/t Au (from 141m) 2.00%
and 184 190 6 1.19 6m @ 0.93% Cu + 0.35g/t Au (from 184m) 1.00%
204 215 11 0.71 11m @ 0.55% Cu + 0.21g/t Au (from 204m) 0.30%
ACD005 7 64 57 2.04 57m @ 1.52% Cu + 0.68g/t Au (from 7m) 0.30%
including 19 21 2 5.52 2m @ 1.96% Cu + 4.7g/t Au (from 19m) 2.00%
and 33 45 12 7.15 12m @ 5.81% Cu + 1.77g/t Au (from 33m) 1.00%
and 33 41 8 10.47 8m @ 8.57% Cu + 2.51g/t Au (from 33m) 2.00%
ACD006 0 80.5 80.5 0.74 80.5m @ 0.54% Cu + 0.26g/t Au (from 0m) 0.30%
including 20 27 7 1.09 7m @ 0.54% Cu + 0.73g/t Au (from 20m) 1.00%
and 31 35 4 1.12 4m @ 0.89% Cu + 0.3g/t Au (from 31m) 1.00%
and 55 80.5 25.5 1.17 25.5m @ 0.86% Cu + 0.4g/t Au (from 55m) 1.00%
and 74 76 2 2.72 2m @ 2.14% Cu + 0.76g/t Au (from 74m) 2.00%
ACD006A 2 109 107 1.21 107m @ 0.95% Cu + 0.34g/t Au (from 2m) 0.30%
including 19 38 19 1.96 19m @ 1.62% Cu + 0.45g/t Au (from 19m) 1.00%
and 26 34 8 2.89 8m @ 2.38% Cu + 0.67g/t Au (from 26m) 2.00%
and 45 73 28 1.24 28m @ 1% Cu + 0.32g/t Au (from 45m) 1.00%
and 56 59 3 2.12 3m @ 1.83% Cu + 0.38g/t Au (from 56m) 2.00%
and 79 86 7 2.46 7m @ 1.85% Cu + 0.8g/t Au (from 79m) 1.00%
and 79 86 7 2.46 7m @ 1.85% Cu + 0.8g/t Au (from 79m) 2.00%
and 94 108 14 1.36 14m @ 0.98% Cu + 0.5g/t Au (from 94m) 1.00%
ACD007 2 17 15 0.32 15m @ 0.1% Cu + 0.29g/t Au (from 2m) 0.30%
24 104 80 0.90 80m @ 0.49% Cu + 0.53g/t Au (from 24m) 0.30%
including 38 42 4 1.35 4m @ 0.97% Cu + 0.49g/t Au (from 38m) 1.00%
and 81 91 10 3.34 10m @ 0.98% Cu + 3.11g/t Au (from 81m) 1.00%
and 81 84 3 7.48 3m @ 1.98% Cu + 7.26g/t Au (from 81m) 2.00%
118 129 11 0.32 11m @ 0.31% Cu + 0.02g/t Au (from 118m) 0.30%
141 193 52 0.88 52m @ 0.69% Cu + 0.25g/t Au (from 141m) 0.30%
including 153 167 14 1.04 14m @ 0.92% Cu + 0.15g/t Au (from 153m) 1.00%
and 179 187 8 2.08 8m @ 1.34% Cu + 0.97g/t Au (from 179m) 1.00%
and 182 185 3 2.75 3m @ 1.47% Cu + 1.69g/t Au (from 182m) 2.00%
263 270 7 0.68 7m @ 0.34% Cu + 0.45g/t Au (from 263m) 0.30%
ACD008 31 105 74 0.75 74m @ 0.58% Cu + 0.23g/t Au (from 31m) 0.30%
including 31 39 8 1.01 8m @ 0.99% Cu + 0.02g/t Au (from 31m) 1.00%
and 87 101 14 2.12 14m @ 1.58% Cu + 0.7g/t Au (from 87m) 1.00%
and 95 99 4 4.70 4m @ 3.83% Cu + 1.15g/t Au (from 95m) 2.00%
113 140 27 0.86 27m @ 0.6% Cu + 0.35g/t Au (from 113m) 0.30%
including 134 138 4 1.48 4m @ 1.17% Cu + 0.41g/t Au (from 134m) 1.00%
187 202 15 0.94 15m @ 0.78% Cu + 0.21g/t Au (from 187m) 0.30%
including 189 198 9 1.13 9m @ 0.93% Cu + 0.26g/t Au (from 189m) 1.00%
ACD009 12 119 107 0.97 107m @ 0.57% Cu + 0.53g/t Au (from 12m) 0.30%
including 43 50 7 1.19 7m @ 1.06% Cu + 0.16g/t Au (from 43m) 1.00%
and 59 66 7 5.30 7m @ 0.69% Cu + 6.08g/t Au (from 59m) 1.00%
and 59 62 3 11.27 3m @ 0.64% Cu + 14.02g/t Au (from 59m) 2.00%
and 83 90 7 2.36 7m @ 1.84% Cu + 0.67g/t Au (from 83m) 1.00%
and 83 89 6 2.53 6m @ 1.98% Cu + 0.72g/t Au (from 83m) 2.00%
and 97 108 11 1.55 11m @ 1.26% Cu + 0.38g/t Au (from 97m) 1.00%
and 101 104 3 2.33 3m @ 1.8% Cu + 0.7g/t Au (from 101m) 2.00%
146 181 35 1.74 35m @ 1.39% Cu + 0.45g/t Au (from 146m) 0.30%
including 148 165 17 2.83 17m @ 2.26% Cu + 0.74g/t Au (from 148m) 1.00%
and 158 164 6 4.90 6m @ 3.88% Cu + 1.35g/t Au (from 158m) 2.00%
ACD010 2 31 29 0.50 29m @ 0.22% Cu + 0.38g/t Au (from 2m) 0.30%
38 64 26 0.88 26m @ 0.63% Cu + 0.33g/t Au (from 38m) 0.30%
including 38 48 10 1.07 10m @ 0.53% Cu + 0.71g/t Au (from 38m) 1.00%
60 64 4 1.65 4m @ 1.59% Cu + 0.08g/t Au (from 60m) 1.00%
77 96 19 1.35 19m @ 1.31% Cu + 0.05g/t Au (from 77m) 0.30%
including 77 91 14 1.72 14m @ 1.67% Cu + 0.06g/t Au (from 77m) 1.00%
including 78 83 5 2.06 5m @ 1.96% Cu + 0.13g/t Au (from 78m) 2.00%
103 124 21 0.48 21m @ 0.4% Cu + 0.11g/t Au (from 103m) 0.30%
142 178 36 0.95 36m @ 0.78% Cu + 0.22g/t Au (from 142m) 0.30%
including 151 160 9 2.06 9m @ 1.67% Cu + 0.52g/t Au (from 151m) 1.00%
and 152 159 7 2.25 7m @ 1.8% Cu + 0.59g/t Au (from 152m) 2.00%
206 218 12 0.30 12m @ 0.28% Cu + 0.03g/t Au (from 206m) 0.30%
ACD012 3 98 95 0.58 95m @ 0.51% Cu + 0.09g/t Au (from 3m) 0.30%
including 13 28 15 1.15 15m @ 1.08% Cu + 0.08g/t Au (from 13m) 1.00%
111 193 82 0.97 82m @ 0.71% Cu + 0.34g/t Au (from 111m) 0.30%
including 138 154 16 1.22 16m @ 0.76% Cu + 0.61g/t Au (from 138m) 1.00%
and 150 154 4 2.15 4m @ 1% Cu + 1.52g/t Au (from 150m) 2.00%
and 162 187 25 1.52 25m @ 1.21% Cu + 0.41g/t Au (from 162m) 1.00%
and 164 167 3 2.47 3m @ 1.91% Cu + 0.75g/t Au (from 164m) 2.00%
and 178 181 3 2.27 3m @ 1.77% Cu + 0.65g/t Au (from 178m) 2.00%
217 235 18 0.32 18m @ 0.25% Cu + 0.1g/t Au (from 217m) 0.30%
ACD013 1 78 77 0.84 77m @ 0.72% Cu + 0.15g/t Au (from 1m) 0.30%
including 24 36 12 2.33 12m @ 1.97% Cu + 0.47g/t Au (from 24m) 1.00%
and 29 35 6 3.88 6m @ 3.21% Cu + 0.88g/t Au (from 29m) 2.00%
123 133 10 0.52 10m @ 0.4% Cu + 0.15g/t Au (from 123m) 0.30%
143 160 17 0.78 17m @ 0.68% Cu + 0.12g/t Au (from 143m) 0.30%
including 146 150 4 1.57 4m @ 1.32% Cu + 0.34g/t Au (from 146m) 1.00%
ACD014 1 7 6 0.41 6m @ 0.23% Cu + 0.25g/t Au (from 1m) 0.30%
39 91 52 1.31 52m @ 0.93% Cu + 0.5g/t Au (from 39m) 0.30%
including 47 73 26 1.84 26m @ 1.38% Cu + 0.6g/t Au (from 47m) 1.00%
and 51 57 6 2.55 6m @ 1.9% Cu + 0.85g/t Au (from 51m) 2.00%
and 60 67 7 2.28 7m @ 1.65% Cu + 0.83g/t Au (from 60m) 2.00%
and 87 91 4 2.31 4m @ 0.92% Cu + 1.83g/t Au (from 87m) 1.00%
99 110 11 0.35 11m @ 0.06% Cu + 0.38g/t Au (from 99m) 0.30%
ACD015 3 24 21 0.76 21m @ 0.69% Cu + 0.08g/t Au (from 3m) 0.30%
including 7 12 5 1.22 5m @ 1.01% Cu + 0.27g/t Au (from 7m) 1.00%
38 44 6 0.31 6m @ 0.29% Cu + 0.02g/t Au (from 38m) 0.30%
64 70 6 0.44 6m @ 0.22% Cu + 0.3g/t Au (from 64m) 0.30%
ACD016 0 24 24 0.48 24m @ 0.35% Cu + 0.16g/t Au (from 0m) 0.30%
50 65 15 0.31 15m @ 0.21% Cu + 0.12g/t Au (from 50m) 0.30%
87 101 14 0.30 14m @ 0.06% Cu + 0.33g/t Au (from 87m) 0.30%
128 135 7 0.50 7m @ 0.24% Cu + 0.34g/t Au (from 128m) 0.30%
ACD017 1 26 25 0.40 25m @ 0.31% Cu + 0.12g/t Au (from 1m) 0.30%
34 61 27 0.33 27m @ 0.28% Cu + 0.06g/t Au (from 34m) 0.30%
84 121 37 0.43 37m @ 0.35% Cu + 0.11g/t Au (from 84m) 0.30%
ACD018 8 14 6 0.35 6m @ 0.28% Cu + 0.08g/t Au (from 8m) 0.30%
24 73 49 0.79 49m @ 0.61% Cu + 0.23g/t Au (from 24m) 0.30%
including 39 60 21 1.31 21m @ 0.99% Cu + 0.42g/t Au (from 39m) 1.00%
and 45 49 4 2.55 4m @ 2.17% Cu + 0.5g/t Au (from 45m) 2.00%
102 109 7 0.56 7m @ 0.33% Cu + 0.3g/t Au (from 102m) 0.30%
128 182 54 0.85 54m @ 0.57% Cu + 0.37g/t Au (from 128m) 0.30%
including 153 157 4 1.40 4m @ 0.78% Cu + 0.82g/t Au (from 153m) 1.00%
and 165 172 7 1.56 7m @ 1.21% Cu + 0.46g/t Au (from 165m) 1.00%
and 167 169 2 2.90 2m @ 2.44% Cu + 0.61g/t Au (from 167m) 2.00%
212 218 6 2.05 6m @ 1.78% Cu + 0.35g/t Au (from 212m) 0.30%
212 215 3 3.35 3m @ 2.86% Cu + 0.64g/t Au (from 212m) 2.00%
ACD019 70 85 15 0.77 15m @ 0.72% Cu + 0.06g/t Au (from 70m) 0.30%
including 72 76 4 1.14 4m @ 1.06% Cu + 0.11g/t Au (from 72m) 1.00%
101 109 8 0.92 8m @ 0.9% Cu + 0.03g/t Au (from 101m) 0.30%
including 102 106 4 1.07 4m @ 1.05% Cu + 0.03g/t Au (from 102m) 1.00%
123 131 8 0.40 8m @ 0.36% Cu + 0.04g/t Au (from 123m) 0.30%
ACD020 1 7 6 0.40 6m @ 0.21% Cu + 0.25g/t Au (from 1m) 0.30%
ACD021 0 13 13 0.38 13m @ 0.29% Cu + 0.11g/t Au (from 0m) 0.30%
24 46 22 1.86 22m @ 1.36% Cu + 0.67g/t Au (from 24m) 0.30%
including 26 35 9 3.77 9m @ 2.73% Cu + 1.38g/t Au (from 26m) 1.00%
and 26 32 6 5.18 6m @ 3.67% Cu + 1.99g/t Au (from 26m) 2.00%
ACD022 25 54 29 0.87 29m @ 0.73% Cu + 0.18g/t Au (from 25m) 0.30%
including 25 30 5 1.33 5m @ 1.13% Cu + 0.27g/t Au (from 25m) 1.00%
70 133 63 0.77 63m @ 0.63% Cu + 0.19g/t Au (from 70m) 0.30%
including 84 90 6 1.28 6m @ 1.09% Cu + 0.25g/t Au (from 84m) 1.00%
and 97 124 27 1.09 27m @ 0.86% Cu + 0.3g/t Au (from 97m) 1.00%
142 188 46 0.69 46m @ 0.55% Cu + 0.19g/t Au (from 142m) 0.30%
including 182 188 6 1.05 6m @ 0.86% Cu + 0.25g/t Au (from 182m) 1.00%
199 215 16 0.66 16m @ 0.62% Cu + 0.05g/t Au (from 199m) 0.30%

Table 4: Coordinates for Cordoba drill holes used in this Mineral Resource estimate

HoleID East ** North ** RL ** Final Depth Azimuth Dip Type
ACD001 418914 855761 210 280 85 -52 DD
ACD002 418910 855812 218 306.2 90 -57 DD
ACD003 418951 855863 212 290.7 90 -68 DD
ACD004 418972 855759 228 323 85 -51 DD
ACD005 419063 855914 255 240 90 -50 DD
ACD006 419060 855870 248 80.5 90 -60 DD
ACD006A 419074 855867 250 301 90 -60 DD
ACD007 418975 855719 226 307.8 85 -46 DD
ACD008 418957 855669 224 300 90 -51 DD
ACD008A 418961 855666 224 56.4 90 -50 DD
ACD009 419029 855758 227 283.5 85 -53 DD
ACD010 419029 855714 234 308 85 -54 DD
ACD011 419064 855957 258 442.3 85 -58 DD
ACD012 418932 855721 206 304.6 85 -49 DD
ACD013 419089 855783 209 315 88 -52 DD
ACD014 419180 855783 188 313.2 88 -56 DD
ACD015 419342 855782 179 358 88 -56 DD
ACD016 419156 855051 227 314.3 88 -56 DD
ACD017 419306 855065 198 315.9 88 -57 DD
ACD018 419125 855247 205 302.2 88 -55 DD
ACD019 419277 855251 168 300 88 -55 DD
ACD020 419455 855249 153 279.2 88 -55 DD
ACD021 419224 855782 189 130.9 88 -54 DD
ACD022 419017 855803 226 313.5 88 -55 DD

** WGS84 UTM

Sign Up