HPX and partner Cordoba Minerals Corp. (TSX-V: CDB; OTCQX: CDBMF) are pleased to announce an initial Mineral Resource estimate for the Alacran Copper-Gold Deposit in Colombia. The initial, pit-constrained, Inferred Mineral Resource for the Alacran Deposit is 53.52 million tonnes at 0.70% copper and 0.37 g/t gold, or 0.95% copper equivalent (CuEq), including 7.37 million tonnes at 2.14% copper and 0.41 g/t gold above 1% copper (Cu) cut off. The Inferred Mineral Resource is contained within a shallow, north-south trending mineralized corridor that is approximately 1.3 kilometres long and up to 355 metres wide.
The Alacran mineralized system remains open to depth. Surface copper-gold geochemical anomalies also indicate significant potential for additional mineralized zones to the east and west of the Mineral Resource. The potential for the discovery of the mineralizing source for the high-grade copper and gold at Alacran is considered strong. Drill targets have been identified and will be aggressively tested by the joint venture this year.
The Mineral Resource estimate was independently prepared by Mining Associates Limited (“MA”), a leading global geological, resource and mining consultancy, and is reported in accordance with National Instrument 43-101 (“NI 43-101”) and the 2014 CIM Definition Standards. The Inferred Mineral Resource estimate is based on 20,200 metres of diamond drilling completed as at October 27, 2016.
For more information please see Cordoba’s press release.