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Nobel Resources Corp. (TSX – V: NBLC) (the “Company” or “Nobel”) is pleased to provide an update on its ongoing exploration at the Cuprita Project (the “Project” or “Cuprita”) in Atacama Region, Chile. Following the recent identification by Nobel geologists of a leach cap with characteristics strongly associated with porphyry copper-(gold) deposits in the region at Cuprita, including associated highly anomalous copper in soils and bedrock, the Company has additionally confirmed:
- the existence of an IP chargeability and resistivity anomaly typical of porphyry copper deposits in the region; and
- the presence of highly anomalous copper chip samples from outcrops associated with the leach cap.
The geological features being identified by Nobel field work at Cuprita demonstrates the Project is highly prospective.
According to Vern Arseneau, COO of Nobel, “After only a few short weeks in the field, Nobel Geologists have identified key characteristics of a shallow mineralized porphyry system at Cuprita. The leach cap, IP anomaly, significant copper bearing rock chips and the copper in soil anomaly are all located adjacent to a ground magnetic low. These traits are situated near the intersection of a major north-northeast striking fault structure with numerous northwest striking quartz veins with copper oxides. Intersecting major faults is a common, if not essential, structural control for the emplacement of copper-gold porphyries in the region (Figure 3). This is essentially the complete suite of important indicators used when identifying productive porphyry copper systems, combined with a leach cap in one of the most important porphyry copper belts globally indicate excellent potential for a mineralized porphyry deposit at the Cuprita project.”
The IP survey was carried out by Argali Geophysical SA during November 2018 and consisted of three E-W lines across the area of the recently identified leach cap. Survey parameters were 100m spaced dipoles with an estimated depth penetration of 700m at N=27. The top of the IP anomaly, based on this data, is estimated to be approximately 200meters below surface. (Figure 3; line 7055700N). All three lines exhibit a similar chargeability/resistivity response and the anomaly remains open to the North and South.
The chargeability anomalies from 7 to 9 mV/V are in line with many of the porphyry copper deposits near Inca de Oro which are notoriously low in pyrite and therefore in chargeability. Chargeability of less than 10 mV/V has been observed at many deposits local to Cuprita. Similarly, field observations by Nobel geologists have also confirmed the general lack of pyrite in altered rocks at Cuprita.
Rock chip sampling of mineralized structures associated with the leach cap, anomalous soil samples and the ground magnetic anomalies returned highly anomalous copper values ranging from 0.25 to 3.46% Cu. Many of the rock samples contain remnant copper sulfides, such as Chalcocite, Chalcopyrite and locally Bornite (Figure 1). Additionally, a sample taken 500m to the northeast, where QZ vein stockwork with disseminated chrysocolla outcrops with a grade of 2.06% Cu (Figure 2) signifying the potential for a large extensive system.
Figure 1: Rock sample with Chalcopyrite and Bornite grading 1.36% copper associated with the leach cap.
Figure 2: Sample of copper-rich stockwork of quartz and chrysocolla grading 2.06% copper from 500 meters northeast of previous sample.
According to Larry Guy, CEO, “Nobel geologists believe that this newly identified geological / geochemical evidence along with the geophysical compilation points to potential for a large mineralized porphyry at shallow depth covering the area between the anomalous soil results to the South and extending more than 2 kilometers North to the previously reported ground magnetic lows. (Figures 3 and 4; map and cross section and Figure 5 conceptual geological model).
Geologically, Cuprita is part of the Metallogenic Paleocene Porphyry Copper Belt that hosts several major porphyry copper deposits, such as El Salvador, Cerro Colorado, Spence, Sierra Gorda, Fortuna, as well as several gold deposits. Recent field work at Cuprita has focused the targeting for forthcoming drill programs.
Figure 3: Compilation map showing the location of the extensive leached cap (lithocap) and associated structures, outcrop samples, quartz-copper veins, soil geochemical anomalies, tourmaline breccias associated with a magnetic low, that comprise the key criteria for a mineralized porphyry target.
Figure 4. Schematic Section showing the Conceptual Model of the Porphyry in Cuprita.
Figure 5. Conceptual model for the Cuprita porphyry target (modified after Halley et al., 2015) The key geological components for the classic mineralized Andean porphyry model have been identified at the Cuprita target.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators. Mr. Gower is a consultant of Nobel and is not considered independent of the Company.
About Nobel
Nobel Resources is a Canadian resource company focused on identifying and developing prospective mineral projects. The Company has a team with a strong background of exploration success.
For further information, please contact:
Lawrence Guy
Chairman and Chief Executive Officer
+1 647-276-0533
Vincent Chen
Investor Relations
vchen@nobel-resources.com
www.nobel-resources.com
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, the mineralization and prospectivity of the Project, the Company’s ability to explore and develop the Project, the Company’s ability to obtain adequate financing 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 Nobel, 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 Nobel 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. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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NBLC:CA
Empire Metals Limited Announces Drilling Outlines Large, High-Grade Zone
- Selected exceptional intercepts (>6% TiO2), include:
- 44m @ 7.87% TiO2 from surface (AC25TOM159)
- 50m @ 7.84% TiO2 from 4m (AC25TOM130)
- 54m @ 7.41% TiO2 from surface (AC25TOM118)
- 98m @ 7.05% TiO2 from 2m (RC25TOM062)
- 98m @ 7.05% TiO2 from 2m (RC25TOM068)
- Large, high-grade central core identified averaging circa 6% TiO2 across a continuous 3.6km strike length
- Nearly two thirds of all drillholes averaged > 4% TiO2, with over 90% exceeding a 2% cut-off.
Shaun Bunn, Managing Director, said:"These results confirm the exceptional scale and grade of titanium mineralisation at Thomas. The continuity of high-grade mineralisation near surface is particularly exciting for future mine development. With assays received ahead of schedule, we can now accelerate resource modelling and move rapidly towards announcing our maiden MRE."
MRE Drilling Programme - Key Results
Since commencing the maiden drilling campaign at Pitfield on 27 March 2023 Empire has completed 382 drill holes for a total 32,265 metres (refer Figure 1) comprising:
- 17 Diamond drill holes for 2,704 m
- 140 Reverse Circulation (RC) drill holes for 18,764 m
- 225 Air Core (AC) drill holes for 10,797 m.
The latest May-June campaign comprised:
- 140 AC drillholes (6,360m) on a 400 x 200m grid, average depth 45.4m
- 40 RC drillholes (3,776m) within the AC grid, average depth 94.4m
Figure 1. Grey-scale magnetics overlain by airborne gravity data showing RC, AC and diamond drillhole collar locations and JORC Exploration Target areas.
During the campaign all drill holes were subsampled on a 2m interval, resulting in over 5,000 drill samples being collected, logged by our on-site team of geologists and then prepared for shipment to Intertek's Perth based analytical laboratory. The analytical assay results have now been received, showing continuous TiO2-rich mineralisation across the overall drillhole grid, which extends 5.2km by 2.6km and totals an area of 1,352 hectares (refer Figure 2).
The drilling has confirmed the presence of a large, high-grade central core at the Thomas prospect, this target being selected as the basis for the maiden MRE due to the extensive, thick and high-grade titanium mineralisation known to be hosted within the broad, in-situ weathered zone. Whilst over 90% of all drillhole sample assays show mineralisation well above a 2% TiO2 cut-off grade this central high-grade core, extends over 3.6km north-south, averages around 6% TiO2 (refer Table 1).
Table 1. Breakdown of drillhole assay results by average grade of drillhole and percentage of total drilling.
Significant analytical assay results for each drillhole above 6% TiO2 are reported in Table 2 further below.
Figure 2. RC and AC drill hole collar locations within the Thomas Prospect priority area.
Strategic Significance
The May-June campaign marked a major milestone in the development of Pitfield, laying the foundation for a globally significant MRE and enabling the identification of near-surface, high grade zones to support the development of mine planning and ore scheduling as part of upcoming economic evaluation studies.
Table 2. Significant Intercepts above 6% TiO2.
The Pitfield Titanium Project
Located within the Mid-West region of Western Australia, near the northern wheatbelt town of Three Springs, the Pitfield titanium project lies 313km north of Perth and 156km southeast of Geraldton, the Mid West region's capital and major port. Western Australia is a Tier 1 mining jurisdiction, with mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines as well as a green energy hydrogen fuel hub, which is under planning and development (refer Figure 3).
Figure 3. Pitfield Project Location showing theMid-West Region Infrastructure and Services
Competent Person Statement
The technical information in this report that relates to the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr Faragher is a Member of the Australian Institute of Mining and Metallurgy. Mr Faragher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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