Colombian Mines Samples 49.8 Grams Gold, 526 Grams Silver, 17% Copper At Newly Granted, 100% Owned Mercedes Contract, Colombia
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/10/12 -- Colombian Mines Corporation (TSX VENTURE: CMJ)(FRANKFURT: X6C) ("Colombian Mines" or "the Company") is pleased to announce recent reconnaissance sampling has returned values to 49.8 grams (1.6 troy ounces) gold per tonne, 526 grams (16.9 troy ounces) silver per tonne, and 17.05% copper from the Company's new 100% owned Mercedes Contract. The highest silver value of 773 grams (24.9 troy ounces) is associated with the highest copper value of 26.47% copper.
The Company is also pleased to report that the Concession Contract for the 4,995 hectare (12,343 acre) Mercedes property has been issued and registered in the Colombian Registry of Mines in the name of the Company's wholly owned Colombian subsidiary. Situated within a prominent gold producing region of Colombia the property lies near the town of Natagaima, in the Department of Tolima, Colombia. Accessed by paved road from either Bogota or Medellin to Natagaima, gravel and dirt roads provide access onto and around the property. The property is not affected by any environmental reserve, park, and lies well below the environmental protection zones of the Paramos.
Mineralization is hosted in a belt of Mesozoic age, volcanic rocks that extend northward into this part of Colombia from Ecuador that are known to host other intermediate sulfidation epithermal deposits including Kinross Gold's Fruta del Norte deposit that according to Kinross's website boasts more than 11 million ounces of gold and 17 million ounces of silver. Mineralization consists of brecciated quartz and / or barite with abundant manganese, iron and copper oxide in outcrop. Alteration, mineralization, gangue minerals and geochemistry indicate the system is probably an intermediate sulfidation, epithermal system. Zones of barren ground where high concentrations of naturally occurring minerals are toxic to plant growth, often referred to as "kill zones" commonly surround outcropping mineralization at Mercedes and can be important indicators of high concentrations of metallic elements such as copper and silver that are known to be toxic to plants.
Reconnaissance sampling consists of both rock chip and hand cut channel samples. Chip samples are collected either randomly over an outcrop or in a line forming a "semi-continuous" chip-channel sample. These samples are commonly used for reconnaissance to quickly evaluate the mineral content and overall potential of an area, and rely on the geologist's judgment. Channel samples are higher precision samples, and as reported herein are hand cut channel samples typically cut 3 - 4 centimeters wide and 2 - 3 centimeters deep with hammer and chisel. The highest grade gold sample to date is a chip sample assaying 49.8 grams gold per tonne (g/T Au) that also contained 526 grams silver per tonne (g/T Ag), and 17.05% copper (Cu). The highest grade channel sample, from a different outcrop area, was a 1.3 meter long channel sample that assayed 28.33 g/T Au, 264 g/T Ag and 9.76% Cu. The highest silver value of 773 g/T Ag is from chip sample that also contained the highest copper grade of 26.47% Cu. Due to the reconnaissance nature of the sampling and limited exposure, samples do not typically form continuous unbroken sample intervals and additional work will be needed to fully define the width and extent of mineralization.
These strong initial sampling results clearly indicate high mineral potential for the Mercedes project, which, in addition to other 100% owned, high grade projects such as the Company's El Dovio project, build strong fundamental shareholder value and demonstrate the high quality of the Company's pipeline of lodged applications in the highly prospective mineral belts of Colombia. Additional work including rock and soil geochemistry, geological mapping, trenching and geophysics are planned to better define the nature and extent of mineralization, improve the exploration model and to develop drill targets in 2013.
Please refer to the Company's website for additional information on Mercedes and the Company's other major properties in Colombia.
Quality Assurance/Quality Control
The Company's samples are collected in accordance with accepted industry best practices. Channel samples were hand cut to a nominal width of three to four centimeters, two to three centimeters deep. After collection, each sample is double bagged, sealed 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.
Upcoming Events:
Colombian Mines will be exhibiting 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 management. Please 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.
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
Canada: (604) 649-9195 or United States: (760) 668-7211
shebgin@colombianmines.com
Colombian Mines Corporation
Kim C. Casswell
Corporate Secretary
(604) 669-0868
(604) 688-1157 (FAX)
kcasswell@colombianmines.com
www.colombianmines.com