NovaCopper drills more high-grade, Cordoba Minerals consolidates copper district

NovaCopper's Arctic deposit in the Ambler mining district of Alaska.

Alaska copper-zinc developer NovaCopper has more rich intercepts to add to the resource at its Arctic deposit in Alaska's Ambler mining district.

The 14-hole diamond drill program, which yielded 3,056 metres of core, was designed to test the continuity of mineralization as well as upgrade resources from inferred to measured and indicated categories within the proposed Arctic open pit.

Based on a cut-off grade of 1% copper, all 14 holes intersected significant copper, gold, silver, lead and zinc mineralization. Highlights include:

AR15-0145 intersected four mineralized intervals, including 22 meters of 3.86% copper, 0.86 g/t gold, 71.0 g/t silver, 1.15% lead, and 5.36% zinc, and 5 meters of 3.82% copper, 0.68 g/t gold, 74.7 g/t silver, 1.60% lead, and 7.21% zinc, and 6.5 meters of 6.67% copper, 0.52 g/t gold, 31.4 g/t silver, 0.20% lead, and 3.38% zinc;
AR15-0136 intersected two mineralized intervals, including 32 meters of 3.08% copper, 1.56 g/t gold, 45.9 g/t silver, 0.18% lead, and 2.72% zinc, and 9 meters of 7.36% copper, 2.34 g/t gold, 219.3 g/t silver, 0.77% lead, and 5.00% zinc;
AR15-0138 intersected 18 meters of 4.93% copper, 0.74 g/t gold, 102.0 g/t silver, 0.94% lead, and 5.11% zinc;
AR15-0144 intersected three mineralized intervals, including 11 meters of 7.10% copper, 0.70 g/t gold, 80.4 g/t silver, 1.09% lead, and 9.04% zinc, and 9 meters of 4.22% copper, 0.75 g/t gold, 76.7 g/t silver, 0.82% lead, and 3.46% zinc.

"We are pleased to have completed another successful drill campaign, one that saw Zero Loss Time Incidents (LTI's), no environmental incidents, 56% local NANA shareholder hire and some really fantastic drill results that further demonstrate that the Arctic deposit is one of the highest-grade, open pitable copper deposits known in the world," stated Rick Van Nieuwenhuyse, NovaCopper's President and Chief Executive Officer.

The drilling, engineering and environmental work completed as part of the 2015 field program will support a pre-feasibility study to be completed over the next two to three years.

NovaCopper has some of the highest copper grades of any major undeveloped project, globally, at its Arctic deposit. The company has a partnership with NANA, a business-friendly Alaska Native Corporation, and a division of the Alaska government is looking at building a toll road from the mine to the coast.

The Bornite project 25 kilometres away from Arctic adds additional stores of high-grade copper and zinc, as well as plenty of exploration upside.

"In addition to the exceptional copper grades, the zinc and precious metals credits will provide the Company additional flexibility as we advance this project up the value chain. Overall, it was an excellent field season and we look forward to improving our geological understanding of the high-grade polymetallic Arctic deposit and incorporating this year's data into our models and future pre-feasibility level work."

NovaCopper had cash and equivalents of US$18.4 million as of Aug. 31, and a current market cap of about $52 million CDN, or about US$40 million.

NR: NovaCopper reports significant high-grade drill results at its Arctic Deposit

Cordoba Minerals (CDB-T)

Colombian copper-gold explorer Cordoba Minerals has added to its land position at the San Matias project in northwestern Colombia with a deal backed by mining entrepreneur Robert Friedland.

Cordoba is optioning the Alacran copper-gold project, a largely untested area that CEO Mario Stifano believes has potential to host a large-scale copper resource, from Sociedad Ordinaria de Minas Omni (OMNI). Alacran is within tenure of Cordoba's San Matias, about 2km southwest of the company's Montiel discovery and 2km west of Costa Azul.

Over 13,000 metres of diamond drilling has been carried out, with highlights including 139 metres of 1.23% Cu and 0.74 g/t Au, 188 metres of 0.71% Cu and 0.25 g/t Au and 128 metres of 0.84% Cu and 0.45 g/t Au.

Most of the intersected mineralization has only been tested to an average vertical depth of 150 metres, with the deepest intersections only 240 metres below surface. Mineralization is traced over a strike length of greater than 1,300 metres.

"The acquisition of the Alacran Project is an important step forward for Cordoba as it adds another high-quality project to our portfolio of copper-gold exploration assets in Colombia," Stifano said.

Cordoba will pay $500,000 initially and a further $1.25 million in payments on the 2-year anniversaries of signing a binding letter of intent and a definitive agreement. A 3,000-metre drill program will begin within 90 days and 8,000 metres of drilling will have to be completed within 2 years of signing the LOI.

The agreement also includes a US$14-million payment upon receipt of all licenses and permits for the construction and operation of a commercial mine at Alacran, as well as a 2% NSR.

The deal will be financed through a $1.6-million private placement of 13,333,333 common shares at 12 cents a share subscribed to by Friedland's privately owned High Power Exploration (HPX). HPX became a major shareholder of Cordoba in May following Cordoba CEO Mario Stifano's elevator pitch to Friedland at the 2014 BMO mining conference (story here).

NR: Cordoba Minerals acquires the Alacran Copper-Gold Project in Colombia

Join the conversation at CEO Chat and find out what other speculators are watching and buying.

The work included in this publication is based on SEDAR filings, current events, interviews, and corporate press releases. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. The views expressed in this publication and on the CEO.CA website do not necessarily reflect the views of Pacific Website Company Inc., publisher of CEO.CA. NovaCopper and Cordoba Minerals are sponsors of CEO.CA, which makes CEO.CA biased in its coverage. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read more on each of these companies at www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.

James Kwantes

James Kwantes is an editor and mining reporter from Vancouver, Canada. He spent the last decade with Vancouver Sun, covering investing, mining and other business topics. James is the founder of the World of Mining blog and is the editor of Resource Opportunities, a subscriber supported investment newsletter covering compelling early stage mining companies. More →

Twitter: @https://twitter.com/jameskwantes

worldofmining@gmail.com

James Kwantes

Twitter: @https://twitter.com/jameskwantes

worldofmining@gmail.com

Disclaimer:

Readers are advised that the material contained herein is solely for information purposes. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities. The information contained herein is based on sources which the publisher believes to be reliable, but is not guaranteed to be accurate, and does not purport to be a complete statement or summary of the available data. Any opinions expressed are subject to change without notice. The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. They may from time to time have a position in the securities of the companies mentioned herein, and may change their positions without notice. (Any significant positions will be disclosed explicitly. This article is not intended to meet your specific individual investment needs and it is not tailored to your personal financial situation. Nothing contained herein constitutes, is intended, or deemed to be — either implied or otherwise — investment advice. Thomas Humphreys, Pacific Website Company Inc., and other entities in which he has an interest, employees, officers, family, and associates may from time to time have positions in the securities or commodities covered in these publications or web site. We reserve the right to buy and sell such securities or commodities without notice to readers. While the information herein is believed to be accurate and reliable it is not guaranteed or implied to be so. The information herein may not be complete or correct; it is provided in good faith but without any legal responsibility or obligation to provide future updates. Neither Thomas Humphreys, nor anyone else, accepts any responsibility, or assumes any liability, whatsoever, for any direct, indirect or consequential loss arising from the use of the information in these publications or web site.

Forward-Looking Statements: This article may include certain "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential of the Company's properties are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this article. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Always do your own due diligence. We seek safe harbor.