Vancouver, British Columbia, February 10, 2014 (TSX-V: CMJ, Frankfurt: X6C) – Colombian Mines Corporation ("Colombian Mines" or the "Company") is pleased to announce that a recently completed high resolution airborne magnetic and radiometric survey at the Company’s Mercedes project in Tolima Department, Colombia has identified multiple, large, linear magnetic anomalies, some in excess of seven (7) kilometers long that are commonly associated with coincident potassium anomalies. These coincident anomalies indicate the circulation of solutions destructive to magnetic minerals within large structurally controlled zones and are typical of magnetic and radiometric signatures associated with large epithermal systems. Several of these anomalies are spatially associated with known gold – silver - copper occurrences where the Company’s surface reconnaissance sampling as previously announced in the Company’s release of December 10, 2012 has returned results to 49 grams gold per metric tonne (g/T Au), 773 grams silver per metric Tonne (g/T Ag) and 26% Copper (Cu). Other similar anomalies, outside of the areas prospected to date, indicate potential to discover additional areas of epithermal style mineralization on the property.
In addition, several large coincident magnetic and potassium highs correspond with mapped bodies of hypabysal intrusives, and are consistent with the magnetic and radiometric signatures commonly associated with porphyry systems.
Recent field checking of select anomalies identified strong outcropping vein systems coincident with magnetic lows and potassium highs. Vein mineralization consisting of semi massive vein quartz with abundant copper oxides, ranging from four (4) to more than 20 meters in width as seen in the photo at http://www.colombianmines.com/i/photos/MercedesNRP1.jpg, was traced for over 500 meters in continuous unbroken outcrop along one such mag – radiometric anomaly that is more than seven (7) kilometers long. Similarly, strong quartz-alunite-adularia open space, stock work veining as seen at http://www.colombianmines.com/i/photos/MercedesNRP2.jpg was found associated with another coincident mag low and potassium high in the northern portion of the property.
Maps of the preliminary air magnetometry and radiometry can be viewed on the Company’s website at http://www.colombianmines.com/i/maps/Mercedes_CAirMagRTP.pdf and http://www.colombianmines.com/i/maps/Mercedes_CKP.pdf. A preliminary map of the project geology can also be viewed at http://www.colombianmines.com/i/maps/Mercedes_CGeo.pdf. The Company currently has crews on the ground following up on these anomalies and conducting stream sediment geochemical surveys.
The 100% owned, 4,995 hectare Mercedes contract covers a volcano-sedimentary hosted, intermediate sulfidation epithermal type system with outcropping high grade gold-silver-copper mineralization. Surface reconnaissance has returned sample results to 50 grams gold per metric tonne (g/T Au)s, 773 grams silver per metric tonne (g/T Ag) and 26.5% copper. Historically, artisanal mining has exploited bonanza grade gold and copper mineralization, as well as high purity barite in the region. Epithermal mineralization appears to be distal to several intrusive complexes that may host porphyry style gold – copper exploration targets. Potential may exist to discover high grade, sediment hosted gold – copper mineralization in carbonate platform sequences known to underlie the outcropping volcano-sedimentary sequences. 2
Up Coming Events:
Colombian Mines will be exhibiting at PDAC in Session A, Sunday and Monday, March 2 and 3 in booth 2215A. The Company will also be presenting the El Dovio project in the Core Shack Session B, Tuesday and Wednesday, March 4 and 5, and will be making a corporate presentation on Tuesday, March 4 at 4:40 PM, Session Gold – Americas 3, Room 801A, MTCC, South Building.
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 in this news release.
About Colombian Mines Corporation:
Signed: "Robert G. Carrington"
President & CEO
A total of 930 line-kilometers of survey lines (100 meter spacing) was flown over an area of approximately 86 square kilometers by MPX Geophysics Ltd. of Ontario, Canada. All known mineralized targets were covered, including the Caballo and Quartz Breccia Veins, and the Garrochas trend, a prominent northeast-striking structure with strong gold and copper anomalies at several locations, including a historically active mine.
Andrew Thomson, President and C.E.O. of Soltoro Ltd., stated: "The airborne geophysical survey suggests the presence of a large intrusive at depth within the La Tortuga property. Gold Reserve is awaiting approval of permitting to begin drilling on the property."
The airborne geophysical map (Figure 1) and sampling location maps (Figures 2 and 3) may be viewed at: http://www.goldreserveinc.com/documents/TorOct21NR.pdf
A reduced-to-the-pole magnetic map is shown in Figure 1. Overlain are mapped structures known to be mineralized. Several important patterns are apparent. The Quartz Breccia vein hosts marked discontinuities in the magnetic character along its known extent. Moreover, there is an unusually strong magnetic high where the Quartz Breccia intersects the Garrochas trend, as well as in the area of the old Garrochas Mine. These two trends, typified by the Quartz Breccia Vein (NW-SE), and the Garrochas/Caballo veins (NE-SW) are well established in the district as important hosts to gold and copper mineralization. The circular magnetic high in the area of the Quartz Breccia and Caballo veins suggests an underlying intrusive, one that is displaced and/or chemically altered by hydrothermal activity along the structures.
Geochemical information from rock and soil sampling adds evidence to the importance of the Caballo and Garrochas veins. Figures 2 (Structures and Significant Outcrop Sampling Results La Tortuga) and 3 (Detail Map - Historic Las Garrochas Mine Area Significant Outcrop Sampling Results) show the location of significant results from rock sampling. Table 1 shows the results for several metals of interest, including gold, silver, copper and lead. There is a preponderance of high copper values in the area of the old Garrochas Mine, some associated with anomalous gold and lead. The Caballo vein shows sporadic copper anomalies for a distance of two kilometers along its known extent. This includes some samples running over 1% Cu from an abandoned decline. This feature was discovered by the field geologists during routine work.
Two new structures revealed from fieldwork are the Creston and Joel veins. The Creston vein trends N 80 E and appears to connect the Garrochas and Caballo veins. A number of outcrop samples taken along it are slightly anomalous in gold and copper, including the two shown in Table 1. Another new find was the Joel vein, due south of the Quartz Breccia vein. The exposure is poor and only float samples were gathered from an exposed quartz vein.
These samples resulted in significant levels of copper, shown below in Table 1:
Gold Reserve has initiated follow up trenching and ground magnetics programs based on the results received to date. Gold Reserve has also completed all applications for the diamond drilling program announced May 1, 2013 and is awaiting notification on permitting. Drilling is scheduled to commence shortly after receipt of permitting.
Mr. Steven T. Priesmeyer, C.P.G., is Vice President Exploration for Soltoro Ltd. (TSX VENTURE:SOL) and a consultant to Gold Reserve. He is a qualified person as defined by NI 43-101 and he has reviewed and approved the contents of this press release. Assaying from this program was completed by ALS Chemex through their office in Guadalajara, Mexico. Analytical procedures include a 33 element ICP-AES analysis (ME-ICP61m) and a 50 g FA AA finish for gold (AA-24). Silver assays exceeding 100 g/t are re-assayed by HCL leach with an ICP-AES or AAS finish (OG62).
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 41,000 hectares of ground in Jalisco State. Soltoro is focused on expanding silver resources at the El Rayo silver project while seeking partners to advance the balance of its projects. Soltoro holds 15% of the common shares of Argentum Silver Corp. with a 3% N.S.R. payable on Argentum Silver's Victoria and Coyote properties. Soltoro has 59,783,037 shares outstanding and trades on the TSX Venture Exchange under the symbol SOL.
There are currently no upcoming events scheduled.