Colombian Mines Expands Drill Indicated Strike of Sabana Blanca Zone & Drills Bedded Sulfide Mineralization at El Dovio Project
01 July 2014 - 1:47AM
Marketwired
Colombian Mines Expands Drill Indicated Strike of Sabana Blanca
Zone and Drills Bedded Sulfide Mineralization at El Dovio Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 30, 2014) -
(TSX-VENTURE:CMJ)(FRANKFURT:X6C) - Colombian Mines Corporation
("Colombian Mines" or the "Company") is pleased to announce
drilling in the Sabana Blanca zone at the Company's El Dovio
project intersected mineralization 230 meters to the east along
strike from the Sabana Blanca tunnel materially expanding the drill
indicated strike length of the Sabana Blanca zone. Drilling also
identified a new zone of zinc dominated mineralization south of the
Sabana Blanca adit and a scout drill hole in the Brazo 1 zone
resulted in an important geological discovery, intersecting a
massive to semi-massive bedded sulfides in a previously unknown
sequence of carbonaceous sediments, a geological environment with
potential to host a bedded Volcanogenic Massive Sulfide ("VMS")
style mineralization.
Discussion and Results
Sabana Blanca Zone:
Drilling in the Sabana Blanca Creek ("SBC") outcrops
approximately 230 meters to the east along strike from the Sabana
Blanca tunnel intersected mineralization typical of the Sabana
Blanca zone. Multiphase bituminous crystalline quartz with
semi-massive to massive pyrite (iron sulfide) and chalcopyrite
(copper sulfide) cut by veinlets and irregular masses of sphalerite
(zinc sulfide) were intersected in both holes drilled in the SBC
area and indicate confirmation of the strike extent of
mineralization in the high grade Sabana Blanca zone.
Table 1. Summary Drill Intercepts Sabana Blanc Creek Outcrop
Area
Hole |
From (m) |
To (m) |
Intercept Length (m) |
Au g/T |
Ag g/T |
|
Cu % |
|
Zn % |
|
AuEq (g/T) |
SBC14-01 |
61.0 |
64.0 |
3.0 |
8.02 |
4.90 |
|
0.83 |
|
0.5 |
|
9.7 |
SBC14-02 |
35.5 |
40.8 |
5.3 |
1.58 |
15.42 |
|
3.96 |
|
0.1 |
|
8.4 |
|
56.9 |
61.7 |
4.8 |
2.14 |
7.46 |
|
1.05 |
|
1.5 |
|
4.7 |
*Note: Gold Equivalent values were calculated using the
following metal prices, Gold $40.99 / gram, Silver $0.63 / gram,
Copper $3.04 / pound and Zinc $0.96 / pound.
New Zone:
Drill holes SB14-01, 02 and 03 were drilled from a point roughly
82 meters south of the outcropping mineralization and in the
structural hanging-wall of the Sabana Blanca zone. SB14-01 did not
intersect significant mineralization. Holes SB10-02 and 03
intersected significant mineralization that may be indicative of a
new zone of mineralization.
This mineralization is interpreted to be separate and distinct
from that of the main Sabana Blanca zone. Sphalerite is the
dominant mineral and has a distinctive brick red color while that
of the Sabana Blanca zone is typically a dark brown color, possibly
indicating higher iron content and higher temperatures of
formation. Unlike mineralization in the Sabana Blanca zone, where
chalcopyrite is a major component, in the newly identified zone
chalcopyrite is present in trace amounts. Logging and
interpretation suggests this zone is situated well above the and in
the structural hanging wall of the main Sabana Blanca zone.
Table 2. Summary Drill Intercepts - New Zone
Hole |
From (m) |
To (m) |
Intercept Length (m) |
|
Au g/T |
|
Ag g/T |
|
Cu % |
|
Zn % |
|
Au Eq (g/T) |
SB14-01 |
No Significant Intercepts |
Sb14-02 |
17.0 |
22.0 |
5.0 |
|
0.57 |
|
4.96 |
|
0.23 |
|
4.0 |
|
3.1 |
SB14-03 |
53.5 |
64.3 |
10.8 |
|
1.18 |
|
3.77 |
|
0.26 |
|
0.4 |
|
1.9 |
|
73.6 |
79.5 |
5.9 |
|
0.78 |
|
3.34 |
|
0.24 |
|
0.2 |
|
1.3 |
*Note: Gold Equivalent values were calculated using the
following metal prices, Gold $40.99 / gram, Silver $0.63 / gram,
Copper $3.04 / pound and Zinc $0.96 / pound.
Brazo 1 Zone:
Scout hole BR14-01, discovered a previously unknown sequence of
well developed bedded, semi-massive to massive sulfides consisting
of fine grained pyrite and pyrrhotite with traces of chalcopyrite
and sphalerite in thin bedded, fine grained silty carbonaceous
sediments including minor intervals of chert and metamorphosed
volcanic rocks. The sedimentary package appears to strike nearly
north - south and the east - northeast trending Sabana Blanca zone
is projected to intersect this important horizon between BR14-01
and SBC14-01 in an area wholly lacking outcrop. This important
discovery materially expands the exploration potential for the El
Dovio project and further indicates that the high grade Sabana
Blanca zone is a large feeder or "stringer" zone beneath a highly
prospective VMS horizon. Values in the bedded sulfides and
surrounding sediments are moderately to highly anomalous, ranging
from 0.01 to 0.16 g/T Au, 0.02 to 1.7 g/T Ag, 0.011 to 0.033 % Cu,
and 0.01 to 0.07 % Zn and clearly indicate elevated metal content
well above background levels.. Hole BR14-01, was drilled to a depth
of 98 meters at an azimuth of 59 degrees and an inclination of 45
degrees, lack of outcrop in the area resulted in the hole being
drilled sub-parallel to the dip of the sedimentary package that
hosts the bedded sulfides and therefore testing a comparatively
narrow portion of this previously unknown bedding controlled
mineralization. The Company has formulated plans to establish
suitable drill sites to allow drilling that will cut across the
sedimentary package and test high grade surface mineralization in
the Brazo 1 zone where surface channel sampling by the Company
returned composite surface channel results grading 3.8 g/T Au, 4.1
g/T Ag and 0.3% Zn over 9 meters as announced November 5, 2012.
Ongoing Drilling
The Company has initiated a program of underground drilling
utilizing the Company's man portable hydraulic drill. This will
allow the Company to explore certain very high grade targets it has
not been able to test from the surface. Once underground drilling
is completed, the Company plans to continue surface drilling where
priority targets will include expansion of drilling in the Sabana
Blanca zone and the projected intersection of the Sabana Blanca and
Brazo 1 zones.
Notes and Comments
All drill intercepts in reported herein are drilled intercept
length. It is believed true width of these intercepts is between 80
to 100 percent of the reported intercept length, however
insufficient drilling has yet to be done in these drill area to
reasonably determine the geometry and true width of the
intervals.
Gold equivalency calculations are included to more clearly
present the approximate value of the polymetallic mineralization at
El Dovio. All gold equivalent values (opt AuEq) were calculated
using the following metal prices, Gold (1275 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.
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 with a
distinct "first mover" advantage 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". 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.
Colombian Mines CorporationSharon HebginCorporate
Communications(604) 649-9195 - Canada(760) 668-7211 - United
Statesshebgin@colombianmines.comColombian Mines CorporationDave
CrossChief Financial Officer and Corporate Secretary(604)
669-0868dcross@crossdavis.comwww.colombianmines.com
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