Multiple High-Grade Gold-Copper Veins Intersected Within The Alacran Deposit

VANCOUVER – Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. said, “We are excited to see the initial in-fill drill holes supporting the higher grade domains in our resource model for the Alacran Deposit. The fact that these domains also host multiple CBM veins brings us one step closer to understanding the relationship between the CBM and carbonate replacement events. Results indicate a shared feeder system for the mineralizing fluids and point towards excellent exploration potential to depth, including for a porphyry copper-gold source.”

Cordoba commenced an initial 25,000-meter in-fill drill program in May, which is part of the 40,000-meter in-fill drilling campaign planned by the Company to update the mineral resource and mine plan at the Alacran deposit. The initial drill program focuses on the northern and central areas within the Alacran Deposit which hosts high-grade mineralized zones with considerable widths.

A total of 6,385 meters in 24 diamond drill holes of the initial drill program have been completed to date. The initial drill assays confirm not only the wide higher grade domains of chalcopyrite-pyrrhotite copper-gold carbonate replacement mineralization within the mineral resource block model but also the presence of multiple late-mineral CBM veins. CBM veins offer significant upside for contained gold in the Alacran Deposit.

The average grade of the CBM veins identified within Alacran Deposit is unknown. Bonanza grade gold was previously reported in drill hole ACD036, which returned 0.90 meters of 4,440 g/t gold, 10.25% copper, 24.70% zinc and 347 g/t silver.

In-fill drill holes ACD087, ACD097, ACD114 and ACD115 during the current campaign have intersected en-echelon CBM veins overprinting earlier chalcopyrite-pyrrhotite copper-gold carbonate replacement mineralization. The predominance of arsenopyrite with minor pyrite and sphalerite in the CBM veins, coupled with the pervasive chlorite-white mica alteration and carbonate gangue, is diagnostic of an intermediate sulphidation epithermal event. There is significant potential for these veins to extend to depth, potentially towards a causative porphyry intrusion.

It is difficult to assess how much gold these CBM veins may contain within the Alacran Deposit. Given the clear presence of coarse-grained gold, as demonstrated in drill hole ACD036, it is likely that there is a significant nugget-effect at play, and accordingly there is the potential for substantial upside in contained gold that is not reflected in the current resource statement and that this upside would be realized during mining of the deposit.