Colombian Mines Corporation (TSX-V: CMJ) has an extensive portfolio of gold, gold-copper, and polymetallic projects that cover more than 150,000 hectares of highly-prospective exploration ground. CMJ's properties are located in historic mining districts and regions of historical production with considerable upside discovery potential. The Company's Yarumalito gold-copper porphyry project, which occurs in the renowned Marmato Gold District, is a priority that is currently undergoing Phase I drill assessment. Colombian Mines is conducting several early-stage exploration programs on additional high priority properties, while forming joint venture alliances to advance other quality projects within its substantial land package.
Colombia provides a unique opportunity for exploration and mining development. Colombia was previously the largest gold producer in Latin America, and has over 80 million ounces of historic gold production to its credit. The South American Cordillera hosts a number of prolific metallogenic provinces ranging from Chile to the south, northward through Peru, and into Colombia. However, civil unrest prevented Colombia from experiencing the exploration and investment boom of the 1980s and 1990s that led to the spectacular mining industry growth enjoyed in other Latin American countries. A significant improvement in security conditions was signaled with the 2002 election of President Alvaro Uribe, and the implementation of the Democratic Security Policy under his administration.
CMJ enjoys an important strategic advantage as a "first mover" in Colombia. Principals of what was to become Colombian Mines Corporation were well informed of Colombia's excellent geological and exploration potential from in-country experience gained during the 1990s. Subsequently, they closely monitored the security situation and business environment, and based upon the likely 2006 re-election of the Uribe administration, project acquisition was started in early 2006. The Company's early and timely entry into Colombia has resulted in a substantial property package with a pipeline of high quality exploration projects. CMJ is focused on advancing and developing its projects with a goal of near-term production, which Company management considers as the best way to build shareholder value.