VANCOUVER, BRITISH COLUMBIA–(Marketwired – November 21, 2016) – Colombian Mines Corporation (TSX VENTURE: CMJ) (FRANKFURT: X6C) (“Colombian Mines” or the “Company”) is pleased to announce it has acquired a three kilometer (1.9 mile) long zone with extensive jasperoid bodies and highly anomalous gold mineralization hosted in carbonate rich sediments contiguous with its Pamlico project in Nevada by staking 33 additional mining claims covering approximately 2.7 square kilometers (one square mile).
This important acquisition materially increases the exploration potential at the Company’s Pamlico project by introducing the potential for sediment hosted gold mineralization.
Twenty-two random rock chip samples collected from visually mineralized outcrops along the zone assayed from 123 ppb to 5.02 grams gold per metric tonne (g/T Au) with a numerical average of 1.26 g/T Au. Review of historic soil geochemical data revealed anomalous gold in soils intermittently along the entire three kilometer strike length.
Jasperoidal silica replacement bodies, a well-known indicator of mineralization in sediment hosted “Carlin type” gold systems throughout Nevada, outcrop periodically along the entire 3 kilometer strike length. An extensive system of north-west and intersecting east-west trending faults extend the entire three kilometer length of zone and likely provided important channels and controls for localizing mineral bearing solutions. Similar intersections of northwest trending and east-west trending structures are a primary structural control of mineralization on Nevada’s famed Carlin trend.
The mineralization trends northwest into other highly mineralized areas on the Company’s Pamlico property. To the south, mineralization may be faulted off, ending abruptly against un-mineralized Tertiary and Quaternary volcanic cover in the southern portion of the new claim group.
The results of the rock chip geochemistry clearly demonstrate the presence of a gold bearing system in this newly staked ground. The rock samples are however selective in nature and unlikely to represent the average grade of mineralization.
Conventions
The Company utilizes certain conventions to avoid confusion between metric and imperial units in its press releases. Metric tons or tonnes consisting of 1,000 kilograms (2,200 pounds) are denoted with a capital “T” while imperial tons consisting of 2,000 pounds (1,818 kilograms) are denoted with a small “t”.
Rock chip samples weighing 1 to 3 kilograms as collected were stage crushed to 70% passing 1.7 mm (10 mesh), a 250 gram subsample was then riffle split and pulverized to 85% passing 75 microns (200 mesh). Gold was determined by fire assay using a one assay ton (1 AT) with an atomic absorption spectroscopy (AA) finish. A separate split of each pulp was analyzed for 30 additional elements, including silver, by AA.
Mr. Robert G. Carrington, P. Geo. and R. P. Engineering Geologist, 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 an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Colombia and Wyoming. Focused on developing shareholder value through exploration and development of key projects, the Company is also one of Colombia’s leading “prospect generators”. Further information can be found on our website at www.colombianmines.com.
Signed: “Robert G. Carrington”
President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.
FOR FURTHER INFORMATION CONTACT:
Sharon Hebgin
Corporate Communications
Phone: 604-669-0868 or 760-898-9129
Email: [email protected]
Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-558-4300
Email: [email protected]
Website: www.colombianmines.com
