VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 9, 2014) - Colombian Mines Corporation (TSX VENTURE:CMJ)(X6C.F) ("Colombian Mines" or the "Company") is pleased to announce that drill hole 1360-01 intersected a high grade mineralized interval averaging 13.01 grams of gold per metric tonne (g/T Au), 24.60 grams silver per metric tonne (g/T Ag), 7.10.% copper (Cu) and 1.70% zinc (Zn) with a combined gold equivalent grade (g/T AuEq) of 25.85 grams per metric tonne within a larger 31.8 meter interval averaging 2.75 g/T AuEq. Table 1 below, summarizes salient intercepts in hole 1360-01.
Table 1. Summary Drill Intercepts Sabana Blanca Creek Outcrop Area
Hole
|
From
(m) |
To
(m) |
Intercept Length
(m) |
Au
g/T |
Ag
g/T |
Cu
% |
Zn
% |
AuEq
(g/T) |
| 1360-01 |
0 |
31.8 |
31.8 |
1.56 |
4.22 |
0.59 |
0.32 |
2.75 |
| including |
0 |
18.4 |
18.4 |
2.25 |
6.03 |
1.01 |
0.46 |
4.23 |
| including |
4.3 |
9.5 |
5.2 |
4.39 |
7.01 |
1.67 |
0.56 |
7.51 |
| including |
4.3 |
5.3 |
1.0 |
13.01 |
24.60 |
7.10 |
1.70 |
25.85 |
| *Note: Gold Equivalent values were calculated using the following, Gold $40.99 / gram, Silver $0.63 / gram, Copper $3.04 / pound, Zinc $0.96 / pound and full recovery of the metal value. |
Discussion and Results
Hole 1360-01 is the first hole drilled from the Sabana Blanca Adit and intersected disseminated, semi-massive and massive mineralization comprised of chalcopyrite, sphalerite, pyrite and pyrrhotite as disseminated to massive sulfide zones in a gangue of multi-phased crystalline quartz hosted by the same metamorphosed volcanic rocks known to host the Sabana Blanca Zone elsewhere.
Hole 1360-01 provided an excellent test of a portion of the mineralized zone and corresponds very well with the Company's underground channel sampling, but did not cross the entire mineralized zone due to limitations of underground access at this point. As discussed in the Company's previous release, drilling from the 1360 meter level, the Sabana Blanca Adit elevation, provides access to drill test high grade targets the Company has not been able to test with surface based drilling.
These highly successful results confirm the value of drilling from the Sabana Blanca Adit and the Company looks forward to completing additional holes from the adit in the near future.
Notes and Comments
All drill intercepts reported herein are drilled intercept length. Insufficient drilling has been done in this drill area to reasonably determine the geometry and estimate true width of the above intercepts.
Gold equivalency calculations are included to more clearly present the approximate value of the high grade polymetallic mineralization at El Dovio and assume; 100% recovery, metal prices of Gold; $1275.00 per troy ounce ($40.99 / gram), Silver; $19.75 per troy ounce ($0.63 / gram), Copper; $3.04 / pound and Zinc; $0.96 / pound. One troy ounce contains approximately 31.1 grams and one percent equals approximately 22 pounds per metric tonne.
About El Dovio: The Company's 100% owned El Dovio project covers gold rich, high grade poly metallic mineralization where the Company owns 100% of both the surface and mineral rights covering the entire zone of mineralization and surrounding areas. Outcropping mineralization and drilling to date indicate the main Sabana Blanca zone is a feeder or "stringer zone" that may have a strike length of one (1) kilometer or more that is beneath a sedimentary horizon highly prospective for the development of Volcanogenic Massive Sulfide ("VMS") type deposits. Recent drilling in the Brazo 1 zone intersected bedded sulfide mineralization indicative of a VMS horizon that is interpreted to overlie the Sabana Blanca zone.
Preliminary metallurgical flotation studies on material from the Sabana Blanca adit resulted in recoveries of 96.4% of the contained gold, 97.8% of copper, 91.1% of silver and 96.8% of zinc from a bulk sample with a calculated head grade of 5.3 g/T Au, 4.7 grams g/T Ag, 0.86% Cu and 1.12% Zn as announced in the Company's press release dated April 24, 2012 reported.
Sample Collection - Quality Control - Quality Assurance
The Company's samples are collected in accordance with accepted industry best practices. Core is transported from the site to the Company's core facility in Medellin, Colombia by Company personnel. After being logged, photographed, diamond saw cut and sampled, samples are delivered the SGS's Medellin laboratory for preparation and analyses, (ISO9001:2000). Gold is analyzed by fire assay with an ICP/AES finish. Silver and base metal analyses were determined with ICP/AES techniques. The Company maintains and continuously monitors its rigid QC-QA through insertion of a series of blank, duplicate, certified standard samples at a rate of 1:30 or higher into the sample stream.
Mr. Robert G. Carrington, P.Geo., a Qualified Person as defined by National Instrument 43-101 and President of the Company, has reviewed and verified the technical information in this news release.
About Colombian Mines Corporation: Colombian Mines Corporation is an aggressive exploration and development stage company and a "first mover" in Colombia. Developing shareholder value through exploration and development of key projects, the Company is also one of Colombia's leading "prospect generators". Additional information is available 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.