Nobel Resources Corp. (TSX-V: NBLC) (the “Company”
or “Nobel”) has completed induced polarization (“IP”) surveys over
the key mineralized areas and associated magnetic features
identified by previously released magnetic surveys (news release
June 11, 2021) on its Algarrobo copper project in Chile (Figure 1)
(the “Project” or the “Algarrobo Project”). The Company has also
received assays for the initial wide spaced drill program.
Figure 1: Location of the
Algarrobo copper project,
Chile.https://www.globenewswire.com/NewsRoom/AttachmentNg/b645b7d3-64f4-4e9c-aba1-e4f1e2ef835f
The objective of the program has been to
identify targets for drilling that have the scale to host a
potential major copper deposit. The Project area has been subject
to artisanal mining for decades which demonstrates the presence of
high grade copper mineralization extending over at least 5
kilometers of strike length in numerous mineralized structures
exposed in mine openings in the northeast part of the Project area
(the Northeast Trend) (Figure 2). The Company has also identified a
second mineralized trend (the Gloria Trend) in the southern part of
the property (Figure 2). The Project is unusual in that there is
limited basic geological mapping or documentation of the geological
controls on the mineralization given the long history of mine
development. To accomplish this objective, the
following has been completed:
- Coverage of the entire Project
property by high resolution ground magnetometer survey (see news
release June 11, 2021).
- Coverage of key areas with IP
surveys to detect mineralization within priority magnetic features
and associated mineralized structures. This survey responds to
sulphide minerals at depth that would be oxide mineralization
nearer to surface (typically in the top 120 meters in this
area).
- Complete a wide spaced drill
program, coupled with geological mapping and trenching to provide
the geological base required to properly interpret the geophysical
surveys.
David Gower, P.Geo., CEO of Nobel noted: “The
work to date is generating very interesting geophysical anomalies
with large scale, in areas with known copper mineralization or
along the projection of major mineralized trends. It is unusual in
my experience to be doing the basic geological and geophysical
surveys in an area with so much evidence of extensive copper
mineralization, and located within the Chilean copper belt, one of
the most prolific copper producing areas in the world.”
Figure 2: Property map showing IP
anomalies and coincident magnetic anomalies. Particularly note the
large Central Target in an unexplored area at the intersection of
two copper mineralized structural
trends.https://www.globenewswire.com/NewsRoom/AttachmentNg/0e2928d9-baea-43a2-a102-037dcf79b897
The geophysical surveys have identified high
priority targets where large scale magnetic features are directly
coincident with IP anomalies comprising chargeability highs and
resistivity lows which is the correct response for a mineralized
system with large scale potential. Key target areas have been
identified (Figure 2) as follows:
- The Central Target occurs in an
area of the Project that is completely dune covered and has never
been explored. The magnetic anomaly is directly coincident with an
IP anomaly comprising a chargeability high and resistivity low and
occurs precisely in the area where two mineralized structural
trends appear to intersect. The coincident magnetic / IP anomaly is
approximately 4 km X 1.5 km in this target area. It appears that
the target is controlled along a contact between an unmineralized
intrusive unit and a mineralized granitic unit with a very definite
break in the anomaly along that contact which is a geological
setting shared by other IOCG deposits including Marimaca and
Michilla.
- The Northeast (NE) Target (Figure
2) has one of the stronger IP responses and occurs closest to the
area with the highest concentration of historical mine workings.
This anomaly extends at least 2.5 km in a northeasterly direction
and is approximately 750 meters wide.
- The Gloria Target (Figure 2) is a
coincident IP / magnetic anomaly within the Gloria Trend in an area
that has not been tested previously. There are high grade copper
oxide veins in trenches at surface adjacent to the anomaly. The
feature extends approximately 2 km in a northwesterly direction
towards the Central Target and is approximately 500 meters
wide.
- The South Target is a coincident
magnetic and IP target south of the Gloria Trend (Figure 2).
Geological mapping is pending for this area. There is a magnetic
anomaly on the south end of Line 9 (Figure 2) (data pending) that
appears to be along the NE Trend that is yet to be surveyed. There
is a powerline crossing this magnetic feature so it may not be
feasible to do IP there.
According to Vernon Arseneau, P.Geo., COO of the
Company: “The results of the geophysical surveys have provided
targets that are very compelling. This Project is extensively
mineralized with copper mineralization in structures that have been
mined for over a century, and artisanal workings that extend for
over 5 kilometers. The Central Target is a priority given its scale
and the structural setting at the apparent intersection of two
mineralized structural trends. We will complete the surveying,
including certain areas in the Central and NE targets for detailed
IP follow up in the coming week to better position drill holes and
promptly complete the interpretation and data integration to lay
out the next phase of diamond drilling which is expected to
commence in September. The Central and Northeast Targets will be
the first areas drilled.”
Details of the Induced Polarization
SurveyThe responses from the Company’s IP survey are in
line with known low-iron type IOCG mineralized systems such as
Michilla in Antofagasta, where the presence of sulphide minerals,
comprise mainly, digenite and bornite, and to a lesser extent
covellite and chalcopyrite. Other example of low-pyrite systems in
Chile are Marimaca and its satellite prospects, Cyndy and Mercedes,
located 5km and 3km respectively to the north of Antofagasta. The
Ivan Mine is another example with directly related chargeability
despite of its low content of pyrite.The survey was completed by
Argali Geofisica EIRL, a highly experienced
geophysical contractor in the Chilean copper environments.
Approximately 30 line-kilometers of IP surveying was originally
laid out but the Company has expanded the survey to 45 km in order
to follow-up on significant anomalies that were identified as the
survey progressed.
IP Survey DetailsThe pole
dipole array with dipoles of 100m and 200m has been utilized to
obtain deep penetration of 400m or more, along lines up to 8 km in
length. Most of the lines traverse large expanses of sand dunes
where data acquisition has long been expected to be difficult, and
no IP surveys have been conducted previously despite potential for
mineralization. Sand dunes (mostly in the central and western parts
of the grid) were expected to present problems for the pole-dipole
array which requires many regularly spaced current electrodes along
the line. With recent rainfall in the desert however, the ground
conditions for transmitting current into the ground improved
significantly which allowed for effective surveying, resulting in
good chargeability data being acquired in the sand dune cover. The
pole-dipole survey has targeted mainly and covered the large
semi-circular magnetic anomaly with line spacing of one kilometer
or more (Central Target). Follow-up, infill lines at closer spacing
are planned once the recently acquired data has been fully
interpreted. A total of seven lines of IP have been surveyed to
date for some 40 km of coverage.
Line 337500E (Line 8) shows a chargeability up
to 16 mV/V which is the strongest anomaly seen other than the
eastern lines. The IP anomaly is exactly coincident with a
deep-rooted conductive zone, similar to the Descubridora
anomalies. The anomaly is deeper and in a more conductive
environment near the surface, likely due to water in the overlying
alluvial cover and weathered material.
Line 340700E (Line 6) shows that there is
moderately strong chargeability anomaly near 7003000N, coincident
with a strong magnetic anomaly and immediately east of the
chargeability anomaly on 339700E (which in turn is about 500m N of
Gloria). There are pronounced magnetic anomalies under sand
cover in the vicinity of this chargeability anomaly including an
elongated magnetic high trending NW. In addition, two parallel
NE-trending structures are noted, with one passing through the
anomaly on 339700E and the other through 340700E. There are
several weaker chargeability anomalies along the line also,
correlating with magnetic features.
Another chargeable zone with amplitudes from 15
to 19 mV/V is located on the north end of the two eastern lines.
This chargeable zone is about 500 m wide, it could be a single
feature or could be a manifestation of numerous closely spaced
narrowed anomalies at depth. Sulphide mineralization is expected at
depths of 100 to 300m. The Northeast anomaly appears to weaken at
depth, suggesting that there may be a certain horizon favorable for
sulphide mineralization. Some conductive anomalies are located
within and flanking the chargeable zone, but high resistivities
appear to underlie the chargeable horizon. Multiple veins and
workings are present on the surface in the area adjacent to these
anomalies, so abundant copper is present. This anomaly represents a
strong target, particularly the stronger anomaly on Line
344500E.
Diamond Drilling ResultsThe
Company completed 31 diamond drill holes, for which assays results
for 12 drill holes on wide spaced areas within the Algarrobo
Project were previously released (June 11, 2021) and the remaining
results are included below. The holes were designed to provide
geological information and test mineralized areas identified by
artisanal miners over approximately a 12 kilometer area and have
been valuable in providing geological and structural information
for the ongoing program. The drilling has indicated that the oxide
veins are quite erratically mineralized and high grade zones occur
within plunging structures that pinch and swell both along strike
and at depth. The drilling was conducted early in the
program and focused on areas with known artisanal workings. This
type of small-scale target is not a focus for the Company. Table 1
below has a list of the drill holes with locations and hole
orientations and Figure 3 shows drill hole locations. The best
results from the last part of the drill campaign were:
Figure 3: Location of the 31
diamond drill holes from the initial program. Please refer to news
release dated June 11, 2021 for results of the earlier reported
holes included on this
map.https://www.globenewswire.com/NewsRoom/AttachmentNg/dcd33eea-cc38-48e4-be83-3496e919b317
Program SummaryCopper
mineralization has been intersected at shallow depths on various
mineralized structures extending over approximately 12 km across
the Project (Figure 2). Intervals for which the Company has assays
generally range from 1.5 to 3.5 meters thick. To date drilling has
targeted previously known mineralized structures and work has not
been directed towards the larger scale deposit model pending
completion of the magnetic and IP surveys. Mineralized intercepts
for which assays have been received are listed below. A detailed
table with locations is included at the end of the
release. Drill core is logged in the Company core
facility and descriptions entered into a data base. See below for a
detailed description of the sampling procedure.
Sampling ProtocolSampling is
conducted in a manner that will allow reasonable averaging and
statistical analysis of the data for resource estimation.
Standards, blanks and duplicate samples, are used to maintain
quality control and to verify laboratory procedures.
- Samples were collected using a
standard 0.5m to 1m sample length in the main mineralized zones and
a 1m to 2m length in the surrounding rocks or in other minor
intervals of alteration and/or mineralization. Shorter sample
lengths were avoided whenever was possible.
- Core samples were split along the
core axis using an electric rock saw, by the Company’s trained
technicians, prior to sampling the core is logged and a
high-resolution photographic record was taken for the files.
- One standard sample was inserted
for each 20 core samples and one coarse blank, one fine blank and
one internal duplicate sample were included each 50 core samples
for QA/QC control.
- In order to meet NI 43-101 security
standards, the samples were placed in rice bags and sealed with
numbered security tags on site and then shipped to the laboratory
facilities by truck by Company personnel. The custody and transfer
of samples was always the responsibility of Company personnel.
Laboratory AnalysisAll analyses
of the samples were carried out by ALS Limited, an independent
laboratory with all regulatory documents and certifications
approved and up to date. The sample prep facilities are based in
Copiapo, 90 km far from the project.
The analysis package chosen, for Au, Cu and Co,
and a multielements, trace level method are as follows:
ALS CODE |
Lower Limitdetection |
Upper limitdetection |
Description |
INSTRUMENT |
Au-AA23: |
0.005 ppm |
10 ppm |
Fire Assay |
Atomic Absorption Spectroscopy |
Cu-AA62 |
0.001% |
40% |
Four Acid |
Atomic Absorption Spectroscopy |
Co-AA62 |
0.001% |
20% |
Four Acid |
Atomic Absorption Spectroscopy |
ME-ICP61 |
|
|
Four Acid |
Atomic Emission Spectroscopy |
Drill Hole Data Table
1https://www.globenewswire.com/NewsRoom/AttachmentNg/5779fd0e-8ac4-41a3-aae4-03bb6b578ecb
FOR FURTHER INFORMATION PLEASE
CONTACT:
David GowerNobel Resources
Corp.Email: dgower@nobel-resources.com
Qualified PersonThe 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 InformationThis 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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