Cordoba Minerals (TSXV: CDB) announced that it has restarted work on the Preliminary Economic Assessment for the Alacrán deposit, located within its 100%-owned San Matías copper-gold project in Colombia.
In a press release, the Vancouver-based miner explained that as part of the PEA, its partner Nordmin Engineering is re-evaluating the Alacrán mineral resource estimate with an improved geological understanding of the high-grade domains following recent drilling, metallurgical testing and re-mapping of the artisanal workings.
At present, indicated mineral resources at Alacrán are 36.1 million tonnes grading 0.57% copper and 0.26 g/t gold, while inferred mineral resources are 31.8 million tonnes grading 0.52% copper and 0.24 g/t gold.
“We are very pleased to have Nordmin revisit the Alacran Preliminary Economic Assessment and look forward to receiving their results, which we believe will demonstrate a very robust copper and gold project,” Eric Finlayson, Cordoba’s president and CEO, said in the media brief.
The San Matías project is located in the Municipality of Puerto Libertador, within the Córdoba department of northern Colombia and it comprises a 20,000-hectare land package in a newly identified high-grade copper-gold district. According to Cordoba Minerals, the district is characterized by porphyry type and “carbonate replacement” type and/or “iron oxide copper-gold” type deposits formed in an accreted island arc setting.