Impact: Mildly Positive
Cordoba reported the first batch of assays from its 25,000m feasibility study diamond drilling program at its 100%-owned San Matias Cu-Au-Ag project in Colombia. A total of 24 holes (6,853m) have been drilled to date and initial results returned grades of up to 1.17% CuEq over 61m. The mineralized intercepts correlate closely with the PFS resource block model and point to the potential of a feeder system at depth. We view these initial results positively as they support the company’s thesis that there are higher grade domains in the resource model, and we continue to believe infill drilling could help Cordoba grow its reserve and resource base and help advance San Matias towards feasibility stage. We will be hosting a webinar with Cordoba’s President & CEO, Sarah Armstrong-Montoya, today at 2pm ET to get an update on the feasibility technical work program and the upside opportunities at San Matias (register here).
