Colombian Mines Drills 6.85 Meters Averaging 5.9 g/t Au, 34.3 g/t Ag, 5.9% Cu, 1.29% Zn (16.8 g/t Au Eq) at El Dovio
2013年8月20日 - 10:00PM
Marketwired Canada
Colombian Mines Corporation (TSX VENTURE:CMJ)(FRANKFURT:X6C) ("Colombian Mines"
or "the Company") is pleased to announce hole D13-05 intersected mineralization
with an average sample grade of 16.81 grams gold equivalent per metric tonne
(g/T Au Eq) over 6.85 meters from 86.5 to 93.35 meters within a broader 26.55
meter intercept averaging 4.53 g/T Au Eq 68.95 to 95.50 meters. Hole D13-04
contained two high grade intercepts, the first averaging 6.57 g/T Au Eq over the
5.1 meters from 72 to 77.1 meters, and a second intercept averaging 8.49 g/T Au
Eq over 7.6 meters from 93 to 100.6 meters, both within a larger 29.6 meter
intercept averaging 3.79 g/T Au Eq from 71 to 100.6 meters. Hole D13-03 did not
intersect significant mineralization. Individual averages for gold, silver,
copper and zinc are presented in Table 1 below.
Table 1. Summary D13-03, D13-04 and D13-05 Drill Results, El Dovio
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Au
Drill Length Length Au Ag Cu Zn Au oz/T_Eq
Hole From To (m) (feet) g/T g/T % % g/T_Eq. (ii)
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D13-
03 No Significant Intercept
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D13-
04 71 100.6 29.6 97.1 1.14 6.86 1.48 0.16 3.79 0.12
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Including
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72 77.1 5.1 16.7 4.02 10.80 1.33 0.36 6.57 0.21
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and
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93 100.6 7.60 24.9 0.95 15.70 4.30 0.26 8.49 0.27
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D13-
05 68.95 95.50 26.55 87.1 1.66 9.55 1.53 0.36 4.53 0.15
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Including
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86.5 93.35 6.85 22.5 5.86 34.29 5.89 1.29 16.81 0.54
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Metallurgical
Extraction 96.40% 91.10% 97.80% 96.80%
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Metal Conversion
Price(i) $1,000 $16.00 $2.50 $0.70
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Gold Equivalent values adjusted for metallurgical Extraction as noted.
(i) Assumed Metal Price is price per troy ounce for gold and silver,
and price per pound for copper and zinc.
(ii) 31.1 grams equals 1 troy ounce
Discussion of Drilling Program and Results
Hole D13-03 was drilled at an azimuth of 202 degrees and an inclination of 55
degrees below horizontal to a depth of 180 meters. The hole encountered
geochemically significant mineralization with maximum values of 1.9 g/T Au, 3
g/T Ag, 216 PPM (0.02%) Cu and 1,323 PPM (0.13%) Zn in individual samples but
does not appear to have cut the Sabana Blanca zone as projected from geologic
information in holes 1A, 2 and 3, and surface data. It appears that the Sabana
Blanca zone, while nearly vertical at the surface, is folded or "rolls" over to
a steep southerly dip. As a result, hole 3 appears to have been drilled in the
footwall of, and nearly parallel to the down dip extension of the Sabana Blanca
zone. A more accurate determination of the three-dimensional geometry of this
zone will require additional drilling.
Hole D13-04 was drilled at an azimuth of 220 degrees, inclined 45 degrees below
horizontal to a total depth of 109 meters. This hole cut the Sabana Blanca zone
as projected at a point roughly 12 meters south of, and 20 meters below the
elevation of Trench 1.
Hole D13-05 was drilled at an azimuth of 210 degrees, 45 degrees below
horizontal, to a total depth of 100 meters. Hole 5 successfully cut the
projection of the Sabana Blanca zone as anticipated roughly midway between the
portal of the Sabana Blanca adit and Trench 1, and roughly 15 meters below the
elevation of the Sabana Blanca adit.
These drill results corroborate the Company's earlier surface channel sampling
and continue to expand and verify the continuity of high grade mineralization in
the Sabana Blanca zone. Mineralization in holes 4 and 5, like that intersected
in the earlier drill holes, consists of multi-phased, coliform banded quartz,
with locally abundant chalcopyrite, sphalerite and pyrite. Crenulated veins and
veinlets indicate that compressional deformation and folding may affect the
system.
To better define the apparent change in orientation of the mineralized zones
from near vertical to a more moderate southerly dip, the Company has constructed
a drill site to the south of the zone and is drilling hole 6 in a
north-northwesterly direction. Hole 6 is designed to test the postulated south
dipping projection of mineralization in the Sabana Blanca zone beneath the
intercept in hole D13-02 and is based upon the premise that the mineralized
zones have been folded. Assuming hole 6 confirms the southerly dip of
mineralization additional holes may be drilled from the same site to test
further down dip extensions of the Sabana Blanca zone.
For the purposes of this press release the Company has not applied any "capping"
or "top cutting" to the drill results. The presence of numerous high grade
samples in the surface and underground channel sampling results, and the
apparent continuity of high grades zones does not currently justify capping or
top cutting of the sample grades in these drill holes at this time. Drill
intercept lengths reported here, are the actual drilled length. While these
correspond well with interpreted true widths from surface sampling, they may be
longer than the true width of mineralization. At this point there is
insufficient information as to the overall dip of the structure to estimate the
true width in the drill holes. The Company will continue to assess the possible
need for capping of high grade and the apparent true width of the mineralized
system as more data is developed.
Drill Sections and a map of drill hole locations are available for viewing on
the Company's web site.
Gold Equivalent Calculations and Metallurgical Considerations
Gold equivalency calculations are included to more clearly present the
approximate value of the polymetallic mineralization at El Dovio. The gold
equivalency for silver, copper and zinc are adjusted for the recovery rate of
the respective metal and as such approximate the recoverable metal and may under
report the gross metal gold equivalent content. The recovery rates used are
actual recoveries achieved on mineralization from the Sabana Blanca adit using
conventional froth flotation as reported to the Company by McCllelan
Laboratories, a prominent metallurgical laboratory based in Reno. Nevada.
Recovery rates as reported in the Company's press release of April 24, 2012, are
96.4% for gold, 91.1% for silver, 97.8% for copper and 96.8% for zinc. In
commenting on the flotation results, Mr. Gene McCllelan, principal of McCllelan
Laboratories stated that "in more than 38 years of experience the El Dovio
mineralization is some of the most responsive to flotation recovery that I have
ever seen." Recoveries may be somewhat higher in actual practice because
oxidation products seen in the adit that are known to reduce recovery by
flotation methods are not observed in this hole and are not expected to occur
widely in the zone of mineralization.
Current Drill Program
The current, Phase 1 program is planned to consist of 10 drill holes focused on
the Sabana Blanca zone. In general, drilling is progressing from the Sabana
Blanca adit eastward. Holes 1A and 2 tested mineralization at modest depths
below the surface as have holes 4 and 5. New drill hole information indicates
the zone "rolls" to a southerly dip down dip from core hole D13-02 intercepts.
As a result, drill hole 6 will be completed from a site on the southern side of
the zone and inclined to the north to test the projection of the Sabana Blanca
zone to the south and down dip from hole 2.
About El Dovio
The Company's 100% owned El Dovio project is comprised of four contiguous
Concession Contracts registered in the name of Colombian Mines wholly owned
subsidiary, Corporacion Minera de Colombia. The Property is comprised of 10,106
hectares that cover a high grade, gold rich, poly-metallic vein system hosted in
metamorphosed marine volcanic rocks.
Saw cut channel samples from surface trenches in the Sabana Blanca zone indicate
a zone ranging from 30 to 68 meters wide with an average sampled grade of 4.5
grams gold per tonne (g/T Au) and 0.5 to 2% copper (Cu) with sub-intervals to 27
g/T Au over 7 meters and individual samples ranging from 20 to 104 g/T Au.
Mineralization and alteration in the other zones on the property indicate they
are similar in nature to the Sabana Blanca zone. Additional information on the
geology and mineralization at El Dovio is available on the Company's website and
in past news releases.
Sample Collection - Quality Control - Quality Assurance
The Company's exploration samples are collected in accordance with accepted
industry best practices. Core is collected from the drill site and under the
supervision of Company personnel is transported to SGS Laboratory's Medellin
sample preparation facilities and analyzed at SGS's new laboratory in Medellin,
Colombia (ISO9001:2000). For all samples, gold is analyzed by fire assay with an
ICP/AES finish, and silver and base metal analyses are determined with ICP/AES
techniques. The Company conducts routine QA/QC analysis on all assay results,
including the systematic utilization of certified reference materials, blanks
and field duplicates at a rate of no less than 1 in 30.
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National
Instrument 43-101, the President and CEO of the Company, has reviewed and
verified the technical information contained in this news release.
About Colombian Mines Corporation
Colombian Mines Corporation is an aggressive exploration and development stage
company with a distinct "first mover" advantage in Colombia and one of the
largest portfolios of 100% direct owned mineral assets among comparable
companies in Colombia. Focused on developing shareholder value through
exploration and development of key projects, the Company is also one of
Colombia's leading "Prospect Generators" and applies an aggressive business
model of organic growth through exploration while leveraging shareholder value
through strategic alliances and joint ventures. Colombia is widely recognized as
a highly prospective, under-explored country with exceptional mineral potential.
Further information can be found on our website at www.colombianmines.com.
Robert G. Carrington, President & CEO
Website: www.colombianmines.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Colombian
Mines Corporation. Actual results may differ materially from those currently
anticipated in such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Colombian Mines Corporation
Sharon Hebgin
Corporate Communications
(604) 649-9195 - Canada
(760) 668-7211 - United States
shebgin@colombianmines.com
Colombian Mines Corporation
Dave Cross
Chief Financial Officer and Corporate Secretary
(604) 558-4300
dcross@crossdavis.com
www.colombianmines.com
Colombian Mines Corporation (TSXV:CMJ)
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から 5 2024 まで 6 2024
Colombian Mines Corporation (TSXV:CMJ)
過去 株価チャート
から 6 2023 まで 6 2024
