HPX’s 74.9%-owned subsidiary Cordoba Minerals Inc. (CDB.V) owns 100% of the San Matias project in Colombia, a highly prospective copper-gold district that hosts the Alacrán deposit.
Through Cordoba, HPX is exploring the extremely attractive San Matias property in northern Colombia. The property has significant existing copper and gold resources near surface, and HPX’s geophysical technology has identified the potential for a district-scale porphyry-style deposit beneath the known ore bodies.
The Alacrán deposit has an N.I. 43-101 reported Indicated Resource of 36.1 Mt at 0.57% Cu and 0.26 g/t Au and an Inferred Resource of 31.8 Mt at 0.52% Cu and 0.24 g/t Au at a 0.28% CuEq cut-off (see 26 February 2018 news release).
Alacrán is near surface and any future open pit is envisaged to have a low strip ratio. Ongoing work is focused on expanding the mineral resource and chasing known carbonate base metal veins, which gave bonanza grade results earlier in 2017 (see 23 January 2017 news release).
The Alacrán Deposit
- Indicated Resource of 36.1 Mt at 0.57% Cu and 0.26 g/t Au and Inferred Resource of 31.8 Mt at 0.52% Cu and 0.24 g/t Au
- Amenable to open-pit mining with low strip ratio.
- Spectacular visible gold mineralization identified in a major fault zone at the Alacrán deposit (0.9 m @ 4,440 g/t Au, 10.25% Cu, 25.7% Zn, 347 g/t Ag).
- This is similar to bonanza-grade gold mineralization found in Zone VII of the 20 Moz Porgera gold deposit in Papua New Guinea.
- Cordoba Minerals has a commanding land position (149km² of granted title, 2,491km² of applications) in a newly-recognized, high-grade copper-gold district in Colombia.
- Initial Typhoon™ surveys and drilling over a small portion (1%) of the land holdings has defined high-grade copper-gold at Alacrán and at the Montiel and Costa Azul prospects.
- Porphyry, skarn, epithermal and other deposit styles have been noted on the project.
- A number of highly encouraging prospects will be tested in future exploration programs.