The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Colombian Mines Discovers 1,500 Meter Long Anomaly at Cerro de Cobre

Wednesday, November 14, 2012

Colombian Mines Discovers 1,500 Meter Long Anomaly at Cerro de Cobre07:30 EST Wednesday, November 14, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2012) -Colombian Mines Corporation ("Colombian Mines" or "the Company") (TSX VENTURE:CMJ)(FRANKFURT:X6C) announces expanded MMI geochemical sampling has identified a 1,500 meter long by 800 meter wide copper anomaly with peak values in excess of 20,000 ppb copper. Gold and silver anomalies together with favorable indicator elements such as barium are associated with the copper anomaly. Channel sampling at Cerro de Cobre have returned composite intervals in excess of 20 meters at 3.2% copper with individual samples grading over 17% copper.Copper mineralization with associated silver and gold is focused on the side of a northeast - southwest trending anticlinal fold that has a slight domal structure and rakes gently down both to the northeast and southwest. Mineralization occurs as chalcopyrite filling and replacements of brecciated sediments along the flank of the dome. Mineralization had been traced in discontinuous outcrop for approximately 500 meters to the southwest from the discovery zone at the Wayside tunnel.The anticline is recumbent (turned partially on its side) such that there is high potential to see a repetition of the same mineralization at shallow depth on the other side of the fold. Mineralization may extend beyond the limits of the current anomalous zone along favorable structures and formations beneath younger rock formations. Results of the expanded, more detailed MMI survey triple the strike length of the target zone to more than 1,500 meters and define up to 800 meters wide with very strong MMI values exceeding 20,000 ppb copper. These results materially increase the exploration potential of the property. About Cerro de CobreCerro de Cobre is a sediment hosted, copper rich replacement deposit, situated approximately 3 hours drive east of Bogota in the Department of Boyaca, Municipio of Gachala. Access is by paved road from Bogota to within 500 meters of the property then by gravel road onto the property. The property is a consolidation of 4 Concession Contracts which the Company is currently in the process of consolidating into a single new Concession Contract as was recently done with the Yarumalito property. The necessary water permits for drilling have been applied for, and the Company expects these will be issued in a timely manner.Mineralization is relatively simple consisting primarily of coarse grained chalcopyrite and minor pyrite in brecciated sediments. Due to the coarse grained nature of the sulfide minerals, conventional froth flotation much like that tested at the Company's high grade polymetallic El Dovio project is likely to be highly effective at Cerro de Cobre.Please refer to the Company's website for earlier press releases and a more thorough discussion of the Cerro de Cobre property and the Company's other major properties in Colombia.Upcoming Events:Colombian Mines will be exhibiting at the San Francisco Hard Assets Conference, November 16 - 17 in booth 1006 and at the Cambridge Resource Investment Conference in Vancouver, B. C., January 20 - 21, 2013 in booth 1402. The Company cordially invites all interested persons to visit us and take advantage of the opportunity to speak with the Company's management. Interested parties only can contact Sharon Hebgin at (604) 649-9195 from Canada, (760) 668-7211 from the US, or by email at shebgin@colombianmines.com for additional information.Quality Assurance/Quality ControlThe Company's samples are collected in accordance with accepted industry best practices. All channel samples were diamond saw cut to a nominal width of five centimeters, three to four centimeters deep and one meter in length yielding an average 3.7 kilograms per meter of sample length. After collection, each sample is double bagged, sealed in individually, and delivered to the SGS Laboratories facility in Medellin, Colombia. The Company maintains rigid QC-QA through insertion of a series of blanks, duplicates and certified standards at a rate of 1:30 or higher. MMI samples were submitted to SGS Medellin which were then transferred to the Toronto facility. The Company collects duplicate samples at a rate of 1:30 or higher for QA-QC on its MMI samples.Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and CEO of the Company, has reviewed and verified the technical information contained here-in.About Colombian Mines CorporationColombian Mines Corporation is an aggressive exploration and development stage company with a distinct "first mover" advantage in Colombia and one of the largest portfolios of 100% direct owned mineral assets among comparable companies 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" and applies an aggressive business model of organic growth through exploration while leveraging shareholder value through strategic alliances. Colombia is widely recognized as a highly prospective, under-explored country with exceptional mineral potential. Further information can be found on our website at www.colombianmines.com.Robert G. Carrington, President & CEOForward-Looking StatementSome 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.FOR FURTHER INFORMATION PLEASE CONTACT: Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Contact Information: Colombian Mines CorporationSharon HebginCorporate Communications(604) 649-9195 - Canada(760) 668-7211 - United Statesshebgin@colombianmines.comColombian Mines CorporationKim C. CasswellCorporate Secretary(604) 669-0868kcasswell@colombianmines.comwww.colombianmines.com