Nobel29 Resources Corp. Commences Induced Polarization Surveys Over Priority Target Areas, Algarrobo Copper-Gold Project, Chi...
June 17 2021 - 7:00AM
Nobel29 Resources Corp. (TSX-V: NBLC; OTC: NBTRF)
(the “Company” or “Nobel”) announces that it has commenced Induced
Polarization (“IP”) surveys over the priority target areas
indicated by the recently completed magnetometer survey (see news
release June 11, 2021) at the Algarrobo project in Chile (Figure 1)
(the “Project” or the “Algarrobo Project”). The planned survey
contemplates doing pole–dipole arrays over the larger target areas
indicated by the magnetic survey and gradient array in the areas of
the mineralized trends where the higher grade veins are known to
occur and sand cover is demonstrated to be relatively thin (Figure
2).
The contract for the survey was awarded to
Argali Geofisica EIRL, a highly experienced
geophysical contractor in the Chilean copper environments.
Approximately 80 line-kilometers of IP surveying has been laid out
which should be completed in approximately 6 weeks. High priority
areas should be completed in approximately 3-4 weeks. It is
expected that final assays from the drill campaign will be received
in that period and the magnetic, IP and reconnaissance drilling
along with trenching and geological mapping can be integrated prior
to commencing the main phase of diamond and RC drilling.
According to Vernon Arseneau, P.Geo., COO of
Nobel, “Although the Project area has been subject to artisanal
mining for decades, which demonstrates the presence of high-grade
copper mineralization distributed over at least 5 kilometers, the
Project is unusual in that there is limited basic geological
mapping, geophysical data or documentation of the geological
controls on the mineralization given the long history of mine
development. The reconnaissance drilling by the Company integrated
with the new magnetic and IP data bases and basic geological and
structural mapping will provide a powerful base from which to
effectively explore the Project.”
IP Survey DetailsThe larger
targets will be surveyed with the pole-dipole array and a dipole
spacing of 100m or more to obtain significant depth penetration of
400m or more. Sand dunes (mostly in the western part of the grid)
may present problems for the pole-dipole array which requires many
regularly spaced current electrodes along the line. If current
cannot be transmitted in the sand areas, then the gradient array
will be tested to see if chargeability can be acquired in the sand
dune areas. Test lines will be run in dune areas and results will
be reviewed during the trials, and a decision will be made on the
optimum configuration prior to finalizing the survey parameters.
The gradient array with short dipole spacings on the order of 20m
will be tested over areas that host vein mineralization. If results
warrant, the gradient survey will be extended. In the gradient
array areas line spacing will be approximately 100 meters, over the
larger targets in the pole-dipole coverage areas it is anticipated
lines will be approximately 400 meters apart.
Figure 1: Location of the
Algarrobo IOCG
Projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/79fe6030-3565-4b07-b9f4-2bcc7b3623ef
Figure 2: Planned Induced
Polarization (IP) survey coverage over priority areas, Algarrobo
projecthttps://www.globenewswire.com/NewsRoom/AttachmentNg/7bec85b4-ce0f-4ba3-bad2-9342fd19adf7
FOR FURTHER INFORMATION PLEASE
CONTACT:
David GowerNobel29 Resources
Corp.Email: info@nobel-resources.com
Qualified Person
The scientific and technical information in this
news release has been reviewed and approved by Mr. Vernon Arseneau,
P.Geo, and Mr. David Gower P.Geo., Qualified Persons as defined by
National Instrument 43-101 of the Canadian Securities
Administrators.
Cautionary Note Regarding
Forward-looking Information
This press release contains “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the mineralization of the Project,
the prospectivity of the Project, the Company’s exploration program
and the results thereof, the Company’s drill program and the
Company’s future plans. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”. Forward- looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
Nobel29, as the case may be, to be materially different from those
expressed or implied by such forward-looking information, including
but not limited to: general business, economic, competitive,
geopolitical and social uncertainties; the actual results of
current exploration activities; risks associated with operation in
foreign jurisdictions; ability to successfully integrate the
purchased properties; foreign operations risks; and other risks
inherent in the mining industry. Although Nobel29 has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. Nobel29 does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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