Cordoba Minerals Receives Approval of Mining Technical Work Plan (PTO) Application for the Alacran Copper-Gold-Silver Project in Colombia
Rhea-AI Summary
Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has received approval for its Mining Technical Work Plan (PTO) application for the Alacran Copper-Gold-Silver Project in Colombia. The approval, granted by the Colombian National Mining Agency (ANM) on August 27, 2024, marks a significant milestone towards the project's construction stage. The PTO is one of two required permits for mine construction licensing in Colombia.
CEO Sarah Armstrong-Montoya expressed satisfaction with the approval, highlighting it as a important step towards building the next copper-gold mine in Colombia. Construction is anticipated to commence in Q2 2025, subject to financing. The company submitted the PTO application in November 2021 and is now progressing towards full-speed development of the Alacran project.
Positive
- Approval of Mining Technical Work Plan (PTO) for Alacran Copper-Gold-Silver Project
- PTO approval is a key milestone towards construction stage
- Construction anticipated to commence in Q2 2025, subject to financing
Negative
- Project construction still subject to financing
News Market Reaction – CDBMF
On the day this news was published, CDBMF gained 21.53%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2024) - Sarah Armstrong-Montoya, President and Chief Executive Officer of Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise "Cordoba" or the "Company"), is pleased to announce that the Mining Technical Work Plan (Programa de Trabajo y Obras or "PTO") for the Alacran Copper-Gold-Silver Project was approved by the Colombian National Mining Agency (Agencia Nacional de Minería or "ANM") on August 27, 2024.
The PTO is one of the two required permits in Colombia to license the Project for construction of the mine, and the permit application was submitted to the authorities in November 2021 (refer to Cordoba news release dated November 18, 2021). Approval of the PTO represents another key milestone towards construction stage, which is anticipated to commence in Q2 2025, subject to financing.
"I'm very pleased to obtain approval of the PTO application, and would like to take this opportunity to thank Colombian National Mining Agency for their support, and my team for their hard work," commented Sarah Armstrong-Montoya, President and CEO of Cordoba. "The approval means we are one step closer to build the next copper-gold mine in Colombia. We look forward to continuing our collaboration and engagement with our stakeholders as Alacran progressing forward with full speed."
About Cordoba
Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a
ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer
Information Contact
Ran Li +1-604-689-8765
info@cordobamineralscorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "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.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Cordoba operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, 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, uncertainties relating to epidemics, pandemics and other public health crises, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law. Readers are cautioned not to put undue reliance on these forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221466
FAQ
What permit did Cordoba Minerals receive for the Alacran project?
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