Colombian Mines Corporation (TSX-V:CMJ) (FRANKFURT:X6C) is pleased to announce the Company has successfully negotiated the purchase of approximately 35 hectares of surface real estate covering all known and prospective mineralization and surrounding areas at El Dovio.
This important acquisition, at a very reasonable price, on a “willing buyer – willing seller” basis, assures the Company future access for exploration and development of the Sabana Blanca, Brazo 1 and other zones. Included in the purchase is significant infrastructure including housing, outbuildings, and installed grid electricity that will enhance future programs and reduce future operating expenses.
This important and strategic opportunity came about when the owner approached the Company and indicated a desire to sell the property. The Company enjoys very good relations with the former owner, the local community and all stake holders, and is pleased that the owner sought to sell to the Company before offering to third parties, eliminating potential for speculation. The consolidation of mineral and surface rights benefits the Company in many ways, ensuring access for current and future exploration and development programs, improving operational flexibility on a going forward basis and simplifying environmental management as a consolidated unit.
About El Dovio:
The Company’s 100% owned El Dovio project, is comprised of 10,106 hectares, in four contiguous Concession Contracts that cover a high grade, gold rich, poly-metallic vein system hosted in metamorphosed marine volcanic rocks. Saw cut, surface channel samples from trenches in the Sabana Blanca zone indicate a zone ranging from 30 to 68 meters wide with an average sampled grade of 4.5 grams gold per tonne (g/T Au) and 0.5 to 2% copper (Cu) with sub-intervals to 27 g/T Au over 7 meters and individual samples ranging from 20 to 104 g/T Au. Recently completed Phase I drilling consistently intersected high grade mineralization consistent with surface results and confirms the down dip extension of mineralization, which remains open to extension on strike and at depth.
About Colombian Mines Corporation:
Colombian Mines Corporation is an aggressive exploration and development stage company with a distinct “first mover” advantage in Colombia. Focused on developing shareholder value through exploration and development of key projects, the Company is also one of Colombia’s leading “prospect generators”.
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