"The early exercise of warrants by HPX is a strong vote of confidence in our highly prospective San Matias Copper Gold Project in Colombia, where we believe the potential exists to find a world-class discovery. We have a tremendous partner in HPX, that is leveraging its leading-edge, proprietary geophysical technology at San Matias with an experienced team of explorationists who, collectively, have discovered numerous significant orebodies," commented Mr. Stifano, President and CEO of Cordoba.
With the exercise of the warrants, HPX now has control over approximately 32.4 million common shares, representing 37.3% of the issued and outstanding common shares of Cordoba.
About San Matias Project
The newly discovered San Matias Copper-Gold Project in Colombia comprises a 20,000-hectare land package on the inferred northern extension of the prolific and richly-endowed Mid Cauca Belt. The San Matias Project area contains several known areas of porphyry copper-gold mineralization, copper-gold replacement or skarn style 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 that contain strong potassic-style alteration and various orientations of sheeted and stockwork quartz-magnetite veins with chalcopyrite-bornite mineralization and minor zones of K-feldspar within vein margins and secondary biotite. The copper-gold replacement or skarn-style mineralization is associated with stratabound replacement of a marine volcano-sedimentary geological sequence in the core of a faulted antiformal fold structure. The nature of mineralization and related alteration encountered at San Matias is similar to other large, high-grade copper-gold deposits.
