Cordoba Minerals (CDB.V) has announced new drill results at the San Matias project in Cordoba, Colombia. The drill program is currently being carried out by Sabre Metals, a private company backed by Continental Gold (CNL.TO) and Grupo de Bullet. Cordoba Minerals has entered into an agreement to acquire Sabre Metals and the acquisition is expected to close within the next few months.
It’s extremely interesting to see a drill intercept of 101 meters at 1.01% copper and 0.65g/t gold, as these grades are quite high for a porphyry system. Based on the current copper and gold price, the rock value of this intercept is close to $95/tonne which is very high. It will be very interesting to see some metallurgical test work in a later stage to see how high the net value of the rock is.
All four short holes have hit mineralization, and this shows how interesting Sabre’s land package of 26,000 hectares is as a trenching program has revealed a mineralized zone with a strike length of at least 1,000 meters so far. Cordoba will start a larger drill program as soon as it closes its transaction with Sabre Metals.
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Disclosure: The author holds no position in Cordoba Minerals. Please see our disclaimer for current positions.
