Colombian Mines Corporation
TSX VENTURE : CMJ

Colombian Mines Corporation

November 17, 2010 09:11 ET

Colombian Mines Sampling Expands Width of Surface Mineralized Zone 10-Fold at El Dovio, Including 32.7 Meters Averaging 4.45 g/t Gold, 19.2 g/t Silver and 2.65% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2010) - Colombian Mines Corporation ("Colombian Mines" or "the Company") (TSX VENTURE:CMJ) is pleased to announce that recent channel sample results have extended high grade gold – silver – copper mineralization over a much larger width than indicated by historic information at the Company's 9,295 hectare El Dovio project in Colombia. All samples returned significant poly-metallic mineralization. Six samples contained gold in excess of 10 grams per metric tonne (g/T Au), with individual two meter channel samples assaying up to 25.55 g/T Au, 66.88 grams per metric tonne silver (g/T Ag), and 13.5% copper.

Geologic Discussion

Poly-metallic mineralization occurs in a broad zone of nearly east-west trending, sulfide rich mineralization, hosted in sheared diabasic rocks of the Cannas Gordas Volcanic Group. Historic sampling appears to have selectively concentrated on visible copper and zinc sulfide mineralization in a zone averaging 2.4 meters wide. The Company's recent work establishes that gold-silver-copper mineralization is more extensive than indicated by the historical data, with gold mineralization in particular, now known to be enriched in intervals containing both high and low total sulfides. The latest surface channel sample results indicate a much larger target area with minimum dimensions of more than 180 meters on strike by 24 to 30 meters in width.

Known mineralization occurs in sheared and silicified, intermediate to mafic igneous rocks, where some of the better values appear to be related to shearing and silicification; an indication that at least some of the precious and base metals were deposited in a structurally controlled "vein" setting. The most recently delineated zone remains open in width, along strike, and to depth. Future work on the property will focus on expanding known mineralization and identifying additional zones of mineralization on the greater El Dovio property package. A generalized plan map of the area sampled can be found on the Company's website.

Surface Rock Sampling Results

Two northerly oriented profiles were continuously channel sampled in a direction nearly perpendicular to the east-northeast trend of mineralization, with results as summarized below.

  • Profile #1 is located approximately 35 meters east of the Sabana Blanca underground mine workings. The channel samples average 4.45 g/T Au, 19.19 g/T Ag and 2.65% Cu over 32.7 meters. Higher grade sub-intervals include 9.95 g/T Au, 60.4 g/T Ag and 9.66% Cu over a 6 meter true width at the north end of the profile, and 10.6 g/T Au, 27.3 g/T Ag and 2.3% Cu over a 6 meter true width near the profile's southern end.
  • Profile #2 is located approximately 180 meters east of Profile #1 and averaged 3.53 g/T Au, 5.71 g/T Ag and 0.36% Cu over 28.8 meters. The northernmost 8.8 meters of sampling averaged 7.7 g/T Au, 9.23 g/T Ag and 0.61% Cu over a 7 meter estimated true width, and may correspond with the northern high grade zone in Profile #1. The projection of the southern high grade zone of Profile #1 is partially sampled by the last (and southernmost) 2 meter channel sample that assayed 10.07 g/T Au, 11.6 g/T Ag and 0.28% Cu. This higher grade sub-zone projects to the south beneath soil cover.

The Company's early stage El Dovio sample results have increased the width of poly-metallic mineralization more than 10-fold, from early work on an individual zone averaging 2.4 meters to a broader trend of shearing with an average interpreted true width of approximately 24 to 30 meters. Further, this newly discovered mineralization hosts higher grade sub-zones over widths of six to seven meters. Mineralization remains open for expansion in all directions and is believed to project into the Sabana Blanca mine workings to the west. The Company is working to re-open Sabana Blanca, a 20 year old exploration adit, in anticipation of an underground mapping and sampling program. Additional work will include underground and surface geologic mapping and rock sampling in the immediate Mina Sabana Blanca area. In addition, a broader area will be evaluated with soil samples and geophysical studies in preparation for an anticipated drill program in 2011.

Sample Collection - Quality Control – Quality Assurance

The Company's samples are collected in accordance with accepted industry best practices. All samples are collected under the supervision of staff geologists and transported to the Company's warehouse in Medellin, Colombia. All samples are then logged in, appropriate standards and blank samples for QC/QA inserted and then transported by Company personnel to SGS Laboratory's Medellin sample preparation facilities and analyzed at SGS's Lima, Peru laboratory (ISO9001:2000). Gold is analyzed by fire assay with an ICP/AES finish, silver and base metal analyses are determined with ICP/AES techniques. As standard procedure, the Company conducts routine QC/QA analysis on all assay results, including the systematic utilization of certified reference materials, blanks, field duplicates, and umpire laboratory check assays.

Mr. Robert G. Carrington, P.Geo., a Qualified Person as defined by National Instrument 43-101 and President of the Company, has reviewed and verified the technical information contained in this news release.

About Colombian Mines Corporation

Colombian Mines Corporation is focused on the acquisition, exploration and development of high quality mineral properties in Colombia with near to intermediate term production potential. Colombia is increasingly recognized as a highly prospective, yet under-explored country with excellent discovery potential. Further information can be found on our website at www.colombianmines.com.

Robert G. Carrington, President

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.

Contact Information

  • Colombian Mines Corporation
    Nathan A. Tewalt
    CEO
    (604) 669-0868
    or
    Colombian Mines Corporation
    Robert G. Carrington
    Pres.
    (604) 669-0868
    (604) 688-1157 (FAX)
    or
    Colombian Mines Corporation
    Sharon Hebgin
    Corporate Communications
    (604) 649-9195
    or
    Colombian Mines Corporation
    Kim C. Casswell
    Corporate Secretary
    (604) 669-0868
    kcasswell@colombianmines.com
    www.colombianmines.com