Cordoba Minerals: Diamond Drilling Restarts at Perseverance in Arizona, USA
TSX VENTURE: CDB
Cordoba and Bell Copper to Extend K-20 and Target Porphyry Copper System
Toronto, Ontario--(Newsfile Corp. - February 25, 2019) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQX: CDBMF) ("Cordoba" or the "Company") is pleased to announce the restart of diamond drilling activity at the Perseverance porphyry copper project, located in northwestern Arizona, USA. The Perseverance project is under a Joint Venture with Bell Copper Corporation (TSXV: BCU) ("Bell Copper").
Cordoba previously announced that diamond drill hole K-20 was halted at a depth of approximately 1,045 metres pending further geological review (refer to Cordoba's news release dated January 21, 2019). However, after detailed discussions between geologists at Cordoba, Bell Copper and High Power Exploration Inc. ("HPX"), the Company has decided to further extend K-20 to a target depth of approximately 1,250 to 1,400 metres.
K-20 is believed to be located at the edge of the porphyry copper system, as indicated by a deep resistivity low located by a Magneto-Telluric ("MT") survey completed by a previous joint venture partner with Bell Copper in 2017. Deepening the hole may be able to explain the source of the low resistivity anomaly that appears to lie below and to the SE of the current bottom of K-20.
Technical Information & Qualified Person
The technical information in this release has been reviewed and verified by Charles N. Forster, P.Geo., a Qualified Person for the purpose of National Instrument 43-101. Mr. Forster is the Vice President Exploration for High Power Exploration Inc., Cordoba Minerals' majority shareholder, and is not considered independent under National Instrument 43-101. Mr. Forster has more than 45 years of diversified mineral exploration experience in Canada, the United States, Sub-Saharan Africa, Portugal, China and Mongolia. From 2001 to mid-2008, he was the Senior Vice President of Exploration at Oyu Tolgoi in Mongolia for Ivanhoe Mines (now Turquoise Hill Resources). During this time, he led a team of multi-national and Mongolian geologists in the discovery and delineation of the world-class Oyu Tolgoi copper-gold porphyry deposit.
About Cordoba Minerals
Cordoba Minerals Corp. is a Toronto-based mineral exploration company focused on the exploration and acquisition of copper and gold projects. Cordoba is currently exploring its 100%-owned San Matias Copper-Gold Project, which includes the advanced-stage Alacran Deposit, located in the Department of Cordoba, Colombia. Cordoba has also entered into a Joint Venture and Earn-In Agreement to explore the Perseverance copper porphyry project located in Arizona, USA. For further information, please visit www.cordobaminerals.com.
ON BEHALF OF THE COMPANY
Mario Stifano, President and CEO
Cordoba Minerals Corp.`
For further information, please contact:
Evan Young, Director, Investor Relations
Phone: +1 (647) 808-2141
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, that diamond drill hole K-20 is believed to be located at the edge of the porphyry copper system, as indicated by a deep resistivity low located by a MT survey completed by a previous joint venture partner with Bell Copper in 2017. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, 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, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Figure 1: MT Layers with IP model and drill hole locations overlain. Note that no drill holes have tested the MT resistivity low, as shown in pink below. K-19, if extended, would go through the centre of the target.