Cordoba Minerals Corp (TSX-V:CDB, OTCQB:CDBMF) ​​has informed investors that a feasibility study is underway for its San Matias copper-gold-silver project in Colombia, which will focus on update of the mining plan and the resource estimate at the Alacran Deposit.

Work is also expected to include trade-off studies to improve project economics and a 40,000 meter(m) diamond infill drilling campaign – the company’s largest drill program to date.

“The Preliminary Feasibility Study result announced in January 2022 confirmed that the San Matias Copper-Gold-Silver Project will generate positive economic results,” said company CEO Sarah Armstrong-Montoya. “We are delighted to continue to advance the project, designated as a project of national interest by the Colombian government, towards the feasibility stage.”

READ: Cordoba Minerals says drilling at its San Matias copper, gold and silver project in Colombia supports mineral resource potential

The San Matias Project Preliminary Feasibility Study (PFS) generated an after-tax net present value (NPV) of US$415.1 million at an 8% discount rate and internal rate of return (IRR) 25.4%, with a duration of 2.2 years. payback period using US$3.60 per pound copper, US$1,650 per ounce gold and US$21.00 per ounce silver.

A 20% increase in metal input prices, to $4.32 per pound of copper, $1,980 per ounce of gold, and $25.20 per ounce of silver, increases the after-tax NPV of the PFS to 713 .3 million USD at a discount rate of 8% and an IRR of 34.4. %, with a payback period of 2.3 years. The current copper spot price is US$4.31 per pound.

The 40,000 m drill program was designed in two phases. A first 25,000 m will be located in the central zone of the Alacran deposit which hosts several high-grade mineralized zones with considerable widths. It will focus on the central and upper portions of the proposed open pit, which are expected to be mined during the first five years of operation.

The second phase of around 15,000m will focus on increasing drilling density, supplying equipment to support the metallurgical testwork program and improving resource classification in the deeper parts of the deposit of Alacran.

Cordoba Minerals is an exploration company focused on the exploration, development and acquisition of copper and gold projects.

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