Colombian Mines Drills More High Grade Mineralization With Multiple Intercepts To 14.23 g/T Gold Equivalent Over 3.3 Meters, ...
2013年9月24日 - 9:45PM
Marketwired Canada
Colombian Mines Corporation (TSX VENTURE:CMJ)(FRANKFURT:X6C) ("Colombian Mines"
or the "Company") is pleased to report drilling has intersected mineralization
grading to 14.23 g/T Au Eq. over 3.25 meters within broader zones of
mineralization grading to 2.09 g/T Au Eq. over 45.8 meters in hole D13-07 at the
Company's El Dovio project. Holes D13-06 and D13-08 also intersected similar
mineralization as reported below. Importantly, this drilling confirms the down
dip continuity and extension of high grade gold, silver, copper mineralization
in the Sabana Blanca zone down dip at least 100 meters below outcrop and shows
the mineralization remains open to extension both along strike and at depth.
Table 1. Summary Holes D13-06, D13-07 and D13-08 El Dovio
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Length Length
Drill Hole Number From To (m) (feet) Au g/T Ag g/T
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D13-06 41.5 59.5 18.0 59.0 1.20 3.24
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including
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D13-06 49.6 51.6 2.0 6.6 3.60 3.00
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and
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D13-06 54.5 56.9 2.4 7.9 3.90 15.60
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D13-07 37.7 83.5 45.8 150.2 0.97 3.93
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including
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D13-07 47.5 56.3 8.8 28.7 2.60 12.94
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also
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D13-07 53 56.3 3.3 10.7 2.04 26.66
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D13-08 54.5 91.3 36.8 120.7 0.80 1.99
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including
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D13-08 55.5 58.5 3.0 9.84 3.68 11.57
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and
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D13-08 69.5 72.5 3.0 9.84 3.9 5.53
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Metallurgical Extraction (McClelland Laboratories) 96.40% 91.10%
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Metal Price used to calculate gold equivalent $ 1,000 $ 16.00
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Au Au
Drill Hole Number From Cu % Zn % g/T_Eq. oz/T_Eq.
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D13-06 41.5 0.57 0.46 2.41 0.08
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including
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D13-06 49.6 0.07 0.69 4.08 0.13
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and
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D13-06 54.5 4.00 2.26 11.87 0.38
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D13-07 37.7 0.55 0.31 2.09 0.07
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including
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D13-07 47.5 2.68 0.87 7.77 0.25
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also
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D13-07 53 6.83 0.83 14.23 0.46
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D13-08 54.5 0.26 0.23 1.37 0.04
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including
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D13-08 55.5 1.91 1.08 7.54 0.24
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and
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D13-08 69.5 0.63 1.15 5.55 0.18
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Metallurgical Extraction
(McClelland Laboratories) 97.80% 96.80%
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Metal Price used to calculate
gold equivalent $ 2.50 $ 0.70
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Metal prices used to calculate gold equivalents are in troy ounces for silver
and pounds for copper and zinc.
1 troy ounce = 31.1 grams, 1% / metric tonne = 22 pounds.
Holes D13-06, 07 and 08 were drilled across the Sabana Blanca zone in a vertical
drill fan that confirms the projected steep southerly dip of the Sabana Blanca
zone and traces mineralization down dip from the surface for roughly 100 meters.
All three holes were angle holes drilled from the same pad in a northwesterly
direction on an azimuth of 333 degrees as detailed in Table 2 below.
Table 2. Drill Holes
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Drill Hole Inclination Azimuth Depth
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D13-06 -45 degrees 333 degrees 100 meters
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D13-07 -60 degrees 333 degrees 90 meters
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D13-08 -70 degrees 333 degrees 97 meters
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Hole D13-06 was targeted to intersect the Sabana Blanca zone approximately 20
meters below the level of the elevation of the drill intercepts previously
announced in hole D13-02, with holes 07 and 08 each establishing additional
nominal 20 meter offsets down dip from the prior hole. As may be seen on the
vertical section labeled "Section 6-7-8" on the Company's website, the true
width is estimated to represent roughly 90 to 100% of the reported drill
intercept length in holes D13-06, 07 and 08.
In holes D13-01A, 2 and 4, expanded sampling has identified broad "halos" of
stock work style mineralization surrounding the previously announced high grade
intervals. Combining this stock work mineralization with the previously
announced results indicates broad zones of potentially bulk mineable
mineralization may exist as shown below in Table 3.
Table 3. Expanded sampling of "Stock Work" mineralization
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From To Intercept Au g/T
Drill Hole (meters) (meters) (meters) Au g/T Ag g/T Cu % Zn % Eq.
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D13-01A 21.3 120.9 99.6 0.64 1.41 0.08 0.18 0.88
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D13-02 48.5 98.7 51.2 1.15 5.99 1.11 0.16 3.23
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D13-04 40.0 101.5 61.5 0.60 3.56 0.72 0.13 1.95
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D13-05 68.9 95.5 26.6 1.66 9.55 1.53 0.36 4.60
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For the purposes of calculating the grade of mineralization within these broader
zones, all individual samples containing in excess of 10 grams of gold per
metric tonne (g/T Au) were "capped" or "top cut" at 10 g/T Au. For high grade
intervals announced in this press release the Company has not applied any
"capping" or "top cutting". The presence of numerous high grade samples in the
surface channel sampling results and the apparent continuity of high grade zones
in both surface and drilling does not justify capping or top cutting at this
time.
The identification of broad zones of mineralization does not change the high
grade focus of the El Dovio project, but potentially adds greater flexibility to
potential mining scenarios and may allow future development of combined open pit
and high grade underground operations at El Dovio.
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. 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 Labratories, a prominent metallurgical
laboratory based in Reno, Nevada. Recovery rates as reported in the Company's
press release of April 24, 2012, are 91.1% for silver, 97.8% for copper and
96.8% for zinc.
Discussion of Phase I Drilling Program and Results
Phase I drill results thus far corroborate the high grade nature and extent of
mineralization as indicated in the surface and underground channel sampling of
the Sabana Blanca zone. Very importantly D13-06, 07 and 08 confirm the
continuity of mineralization in the south dipping Sabana Blanca zone to roughly
100 meters below outcrop and indicate mineralization remains open both along
strike and to depth. All holes of the Phase I program where they have
encountered the Sabana Blanca zone have intersected multiple zones of high grade
mineralization contained within much wider mineralized zones as shown in Table 1
above.
Drilling at El Dovio consistently intersects two parallel zones of high grade
mineralization within a much broader mineralized halo of stock work
mineralization in metamorphose volcanic rocks. The mineralization is forming
along the margins of a large diabase dike and high grade mineralization appears
to be controlled by, and forms at the contact zones of the diabase dike and
enclosing volcanic rocks. The spatial association of mineralization with the
diabase dike indicates potential for significant strike and depth extensions of
the Sabana Blanca zone.
Other similar zones including the Granizales and Brazo 1 zones located well to
the southwest and northeast of the Sabana Blanca zone may also be associated
with similar dike structures and could significantly increase the mineral
endowment of the El Dovio project.
Mineralization in the high grade zones typically consists of multi-phased,
colloform banded quartz, with chalcopyrite, sphalerite and pyrite.
Mineralization in the halo zones is typified by weak to moderate stock work
quartz - sulfide veinlets and fracture fillings. Photos of mineralization are
available on the Company's website as are sections through the drill holes.
The true width for drill intercepts reported here for holes D13-06, 07 and 08
are believed to represent 90 to 100% of the drill intercept length. For prior
holes D13-01A, 02, 04, and 05 true width is estimated to represent approximately
75% of the drill intercept length.
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.
Up Coming Events
Colombian Mines will be exhibiting at the Medellin Mining Fair (Feria Minera de
Medellin) September 25 through 27 in Medellin, Colombia. All parties interested
in speaking with management and learning more about the Company's projects
including, El Dovio, Mercedes, Yarumalito, Rio Negro, or other joint venture
opportunities such as Venecia are invited to visit us in booth number 106.
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
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)
過去 株価チャート
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
