March 21, 2023
Cordoba Minerals Corp. (TSXV:CDB, BUY, C$1.25 target, Taylor Combaluzier) reported additional assays from the ongoing infill diamond drill campaign (142 holes; 27,726m) at the Alacran deposit, part of its San Matias Cu-Au-Ag project in Colombia. Highlight results include 1) 0.74% CuEq (0.59% Cu, 0.28 g/t Au, 4.19 g/t Ag) over 150.7m, within a high-grade zone of 1.44% CuEq (1.09% Cu, 0.63 g/t Au, 7.44 g/t Ag) over 52.36m (ACD162) and 2) 1.68% CuEq (1.24% Cu, 0.82 g/t Au, 6.78 g/t Ag) over 77.48m (ACD170). Overall, these assays have returned shallow high-grade Cu-Au mineralization in the northern portion of Alacran and help confirm the correlation with the PFS block model. The second phase of the in-fill drill program is expected to focus on the peripheral areas and help confirm the life of mine average grade estimate of the Alacran deposit. We note that Cordoba reported its previous batch of drill results from this program in early January (read more). Additionally, Cordoba announced that it has agreed to a short-term bridge loan with its majority shareholder, Ivanhoe Electric (NYSE:IE, Not Rated), for US$4M. The purpose of the loan is to ensure Cordoba can continue exploration activities on its mineral projects and for general corporate purposes. Looking ahead, the company is expected to release an updated mineral resource estimate and FS for the San Matias project in H2/23. Read more
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Cordoba Minerals Corp. – TSXV:CDB
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