Cordoba to drill for porphyry source beneath Alacran

Cordoba Minerals (TSXV: CDB; US-OTC: CDBMF) is planning a 1,000 metre drill program at its Alacran copper-gold deposit, part of its San Matias copper-gold project in Colombia. Based on its results, the company may double the drill program.

The will initially drill a single, 700-metre hole about 300 metres west of the Alacran, targeting a potential copper-gold porphyry beneath the known deposit. It will then drill a second hole testing a possible northern extension of the deposit.

In early 2018, the company tabled an updated resource estimate for Alacaran. The deposit contains 36.1 million indicated tonnes grading 0.57% copper and 0.26 gram gold, or 0.72% copper equivalent, for 454 million lb. copper and 300,000 oz. gold. The project also contains 31.8 million inferred tonnes at 0.52% copper and 0.24 gram gold, or 0.65% copper equivalent, for 265 million lb. copper and 250,000 oz. gold.

The Alacran deposit occurs over a 3.9 sq. km mining title and remains open to the north, south and west.

Highlights from a May 2017 drill program include 1.33% copper and 0.54 gram gold per tonne, or 1.74% copper equivalent, over 82 metres from 51 metres downhole, as well as 0.8% copper and 0.24 gram gold, or 0.98% copper equivalent, over 128 metres from surface.

The company also plans to continue fieldwork at its Willian target, located 6 km south of Alacran.

Cordoba shares are trading at 10¢ with a 52-week range of 8¢ to 28¢. The company has a $27-million market capitalization.