Colombian Mines Corporation (TSX-V: CMJ) is a pure Colombian explorer with a first mover advantage and an extensive portfolio of highly-prospective gold, gold-copper, and polymetallic projects throughout Colombia. The Company's business plan incorporates key elements of both pure exploration and prospect generation models. Colombian Mines is both, one the most active explorers, and the most prolific prospect generator among publicly traded junior companies in Colombia.
As a junior explorer, Colombian Mines flagship projects, El Dovio and Mercedes are large, high grade gold-silver-copper projects with exceptional potential. At El Dovio, during the first quarter of 2014, the Company is expanding detailed ground magnetometry and geochemical coverage to define targets for drilling outside of the large Sabana Blanca zone. At the Sabana Blanca zone Phase II drilling to expand on the highly successful 2013 drill campaign will start during the second quarter of 2014. At Mercedes the Company completed property wide airborne magnetometry and radiometric surveys in January 2014. During the remainder of the first half of 2014, the Company will complete stream sediment, soil and rock geochemical surveys, and plans to initate drilling during the second half of 2014.
As a junior prospect generator Colombian Mines currently has joint ventures with the likes of Teck Resources and others. At the Company's Yarumalito gold-copper porphyry project, Teck Resources is currently earning into a joint venture interest there by sole funding $10 million in exploration in addition to certain cash payments and private placements to earn up to a 70% interest. Australian junior, Overland Resources is earning into the Company's Rio Negro project, where Colombian Mines enjoys a 100% carried interest through to production on its retained interest.
Colombia provides a unique opportunity for exploration and mining development in a politically stable under explored region that was once the largest gold and platinum producer in the world.
The Company's early and timely entry into Colombia in 2006 resulted in a substantial pipeline of high quality exploration projects. CMJ is focused on advancing and developing its projects internally and through strategic alliances with a goal of near-term production, which Company management considers the best way to build shareholder value.