Colombian Mines (CMJ.V) announced the 2013 drill program has started at the company’s 1,457 hectare Yarumalito project in Colombia. As the company is targeting a porphyry complex consisting of Gold-Copper-Molybdenum mineralization, Teck Resources got interested and struck a deal with Colombian Mines whereby Teck can earn into the property by paying the first $15.5M of expenses.
The Yarumalito drill program will consist of 3,500-4,000 meters of diamond drilling focused on earlier delineated drill targets.
Disclosure: The author holds no position in Colombian Mines. Please see our disclaimer for current positions.