Cordoba Minerals is set to extend the Alacran Copper-Gold deposit following a drilling programme at San Matias project in Colombia that encountered high-grade copper-gold mineralisation.
The drilling campaign has encountered mineralisation outside of the current resource shell, indicating a potential expansion of the current resource estimate.
Spanning more than 900m in strike length, drilling was carried out within the central and southern parts of the Alacran deposit located in the San Matias project.
Cordoba Minerals president and CEO Mario Stifano said: "The discovery of the offsetting fault in the southern part of the Alacran Deposit demonstrates the significant potential for the deposit to grow.
"Visible gold in ACD063 was confirmed by assay results. This indicates that cross-cutting gold-bearing structures are found over at least 600m of the Alacran Deposit’s strike."
According to the company, the drillhole ACD066 demonstrates that previous drilling in the southern-most part of the property was too far west.
In addition, it indicates that the copper-gold deposit is offset to the east by post-mineralisation faulting, with potential for undrilled strike extensions of around 500m.
Cordoba completed eight drillholes at the Alacran, focusing on continuity of copper-gold mineralisation in central parts of the deposit and tested southern extensions of Alacran trend.
Initial inferred mineral resource at the deposit is 53.52 million tonnes at 0.7% copper and 0.37g/t gold, or 0.95% copper equivalent, including 7.37 million tonnes at 2.14% copper, and 0.41g/t gold above 1% copper cut-off.
The San Matias Copper-Gold project hosts multiple known areas of porphyry copper-gold mineralisation, copper-gold skarn mineralisation, as well as vein-hosted, gold-copper mineralisation.