Colombian Mines Discovers New Gold Rich Polymetallic Zone At El Dovio With Grades To 13.6 Grams Gold Per Metric Tonne
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/05/12 -- Colombian Mines Corporation (TSX VENTURE: CMJ)(FRANKFURT: X6C) ("Colombian Mines" or "the Company") is pleased to announce it has discovered a new, high grade zone of gold rich, polymetallic mineralization averaging 13.6 grams gold per metric Tonne ( g/T Au) over two meters at its El Dovio project. Discovered in follow-up trenching of the 800+ meter long Brazo 1 MMI geochemical anomaly, this new zone of mineralization continues to expand the exploration potential of the Property.
Sample results include mineralization averaging 13.6 g/T Au, 10.75 grams per Tonne silver (g/T Ag) and 1.6% zinc (Zn) over two meters, within a broader zone of mineralization 9 meters wide averaging 3.8 g/T Au, 4.1 g/T Ag and 0.6% Zn. The entire 19 meter sample interval in trench B1 averages 1.9 g/T Au, 2.9 g/T Ag and 0.3% Zn. The full length of the trench has been sampled with systematic, contigious, diamond saw cut channel samples. Each sample is nominally cut 5 centimeters (cm) wide, 3 - 4 cm deep and one meter in length. This technique provides drill quality data and approximately the same volume per meter as split HQ diamond drill core.
Mineralization in the Brazo 1 zone is similar to the Sabana Blanca zone, consisting of disseminated to massive sulfides in a matrix of multiphased, crystalline quartz with textures indicative of epithermal mineralization including strong colloform banding. The Brazo 1 zone is associated with one of several recently identified MMI anomalies at El Dovio, some of which are more than 1 kilometer wide. The zone occurs along a favorable geologic contact, sub-parallel with, and approximately 100 to 200 meters uphill from the Sabana Blanca Zone where the Company has previously announced numerous high grade results with individual samples containing up to 104 g/T Au. A partial list of previously announced results from the Sabana Blanca Zone is presented in Table 1 below.
TABLE 1:
Sabana Blanca Zone - Previously Announced Surface Trench Results - El Dovio
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Width Gold Silver Copper Zinc
(meters) (g/T) (g/T) % % Location
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9 10.42 20.7 2.34 2.23 Mud slide above Sabana Blanca adit
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21 9.18 15.14 2.46 2.04 Sabana Blanca adit (main tunnel)
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68 4.7 6.2 0.47 0.45 Trench 2 (true width)
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7 27.4 8.1 0.2 0.6 Trench 2 (sub interval, true width)
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30 2.6 9.7 1.6 1.24 Trench 1 (true width)
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4 7.9 21.4 3.5 0.4 Trench 1 (sub interval, true width)
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6 13.0 43.4 5.9 1.4 Trench 6 (true width)
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The reader is referred to the Company's website where historical press releases and additional information on the El Dovio property is available.
Mineralization in the Sabana Blanca, Brazo 1 and Granizales zones extends to or beyond the limits of the trenching and remains open to extension in width, depth and along strike. Prospecting and initial trenching has already identified additional, visually similar mineralization along strike to the west of trench B1 in the Brazo 1 zone. A new map showing the generalized geology, geochemistry and locations of the Sabana Blanca and Brazo 1 zones as discussed in this release may be viewed on the Company's web site at www.colombianmines.com.
Discussion of El Dovio:
Colombian Mines 100% owned El Dovio project is comprised of 10,106 hectares of granted Concession Contracts that cover a gold rich, poly metallic system in the Department of El Valle, Colombia. The principal mineralized zone on the property, the Sabana Blanca zone, as currently known, trends nearly east - west, is up to 68 meters wide at the surface. Geochemistry indicates this zone has an approximate strike length of more than one kilometer. Two other, previously unknown zones of mineralization have been discovered on the property. The Granizales zone lies some 500 to 600 meters southwest of the Sabana Blanca tunnel while the Brazo 1 zone lies approximately 200 meters uphill from the Sabana Blanca Zone. The geochemical anomaly associated with the Brazo 1 zone is more than 800 meters long and approximately parallel to the Sabana Blanca zone. The Company will be conducting additional follow up hand trenching, and systematic diamond saw cut channel sampling to assess the mineral potential of these and other anomalies on the El Dovio property. Mineralization appears to be very amenable to modern recovery methods, yielding more than 96% recovery of gold and copper with conventional froth flotation methods. (Company news release of September 25, 2012)
The most recent discovery of the Brazo 1 zone with the more than 800 meter long geochemical anomally continues to expand the exploration potential at El Dovio. The discovery of previously unknown, in-place high grade mineralization at Brazo 1 suggests additional similar mineralization is likely to be found associated with other of the several additional MMI anomalies already identified on the property, some of which are more than 1 kilometer wide. Management is very encouraged by this and other recent developments at El Dovio and continues to anticipate timely approval of necessary permits for drilling.
Please refer to the Company's website for earlier press releases and a more thorough discussion of the El Dovio 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, 2012 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 Control
The 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. Sample analysis is conducted by SGS at its newly completed Medellin laboratory. 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.
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 Corporation
Colombian 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 & CEO
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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Colombian Mines Corporation
Sharon Hebgin (Corporate Communications)
(604) 649-9195 - Canada
(760) 668-7211 - United States
shebgin@colombianmines.com
Colombian Mines Corporation
Kim C. Casswell
Corporate Secretary
(604) 669-0868
(604) 688-1157 (FAX)
kcasswell@colombianmines.com
www.colombianmines.com
