VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/30/13 -- Colombian Mines Corporation ("Colombian Mines" or "the Company") (TSX VENTURE: CMJ)(FRANKFURT: X6C) is pleased to announce that it has been awarded water diversion and discharge permits for the Company's El Dovio gold - polymetallic project. The water permits have been issued for an initial term of three years and may be extended as necessary. With the issuance of these final permits, the Company can now implement the first stage of drilling in several target areas.
The Company has mobilized crews to the site and construction of necessary drill sites, water diversion and discharge structures is now underway. A drill will be mobilized to the site as soon as the water structures and first drill pads are complete. Drilling is scheduled to begin about mid May.
Phase I drilling is planned to consist of approximately 2,500 meters of diamond core drilling and will initially focus primarily on the Sabana Blanca zone. Additional drill sites are permitted on the Brazo 1 and Granizales zones.
About El Dovio
The Company's 100% owned El Dovio project is comprised of four contiguous Concession Contracts with a combined area of 10,106 hectares that cover a high grade, gold rich, poly-metallic vein system hosted in metamorphosed marine volcanic rocks.
The Company's work to date has identified three principal zones of mineralization, the Sabana Blanca, Granizales and Brazo 1 zones. The Sabana Blanca zone is the most thoroughly studied of the three with an inferred strike in excess of 1 kilometer. Mineralization in this zone consists of crosscutting, multi-phased crystalline quartz stock work and massive veins with disseminated to massive sulfides that form a mineralized zone with an estimated true width ranging from 30 to 68 meters. Saw cut channel samples from surface trench T-2, as previously announced in the May 11, 2011 news release, indicate an average grade 4.5 grams gold per tonne (g/T Au) and 0.5% copper (Cu) over this 68 meter true width. This trench interval contained an internal zone averaging 27 g/T Au over 7 meters, with individual, higher grade samples ranging from 20 to 104 g/T Au.
Mineralization and alteration in the Granizales and Brazo 1 zones indicate they are similar in nature to the Sabana Blanca zone. Additional information on the geology and mineralization at El Dovio is available on the Company website and in past news releases.
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
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.
Colombian Mines Corporation
(604) 649-9195 - Canada
(760) 668-7211 - United States
Colombian Mines Corporation
Chief Financial Officer and Corporate Secretary
Most Popular Stories
- Dmytro Firtash, Ukrainian Billionaire, Arrested in Vienna
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Obama's Overtime Initiative Praised, Condemned
- Republicans Warn Obama on Immigration
- Liberty Media Drops Sirius Bid
- West Readies Harsh Sanctions Against Russia
- Uli Hoeness, Bayern Munich President, Gets Prison for Tax Evasion
- Lady Gaga Roasts Self on Spit at SXSW
- Calumet Photo Files for Bankruptcy
- Drake Wins Big MTV's Woodie Awards at SXSW