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Nobel Resources Corp. (TSX V: NBLC) (the "Company" or "Nobel") is pleased to announce all necessary permits have been received to commence drilling at Cuprita (the "Project") as early as November. This will be the first ever drill campaign at Cuprita. A notice was filed by the Company with the Copiapo office of Servicio Nacional de Geologia y Minera (SERNAGEOMIN) during the week of Oct 12 th . The Company intends to move quickly and drill the highly perspective Cuprita project. The first phase of drilling on Cuprita is expected to include diamond drill holes drilled from eight initial platforms, additional platforms will be added based on results.
About Cuprita
Curprita is a highly prospective copper porphyry project in the Atacama region of northern Chile. 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. The Project sits on a very important north-northeast trending major structural corridor crosscut by a Northwest trending secondary structure. This structural setting is almost identical to the structural setting of the world class Spence, Sierra Gorda and El Salvador porphyry deposits to the north. Nobel geologists have identified multiple key geologic characteristics consistent with a potentially buried porphyry.
During recent field campaigns, Nobel geologists identified a leach cap at Cuprita with an associated copper, lead and zinc anomaly in soils. The leach cap and soil anomaly are located adjacent to a ground magnetic low and 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 1).
The presence of strongly anomalous copper in soil on the flanks of the leach cap is an important positive indicator supporting the potential for a buried mineralized porphyry deposit at the Cuprita project. The highest copper in soils values identified to date occur southeast of the outcropping leach cap (Figure 1). Much of the soil anomaly exhibits soil values more 300% above the expected background levels of the area. In addition, the leach cap and soils anomaly are coincidental with a ground magnetic low (figure 2) which is a common indicator associated with mineralized systems in the region, where hydrothermal processes have replaced the magnetic minerals.
The presence of a leach cap at Cuprita is exceptionally encouraging in a regional context. Leach caps are a key feature of intact porphyry systems in this region (Figure 4, Conceptual Model). Recirculation of acidic fluids from the buried porphyry below often leave a bleached or iron oxide "rusty" appearance on surface. The leach cap identified by Nobel geologists exhibits classic hydrothermal alteration similar to that found above a buried porphyry. The presence of copper oxides, quartz veins and remanent sulfides indicates potential for mineralization under the leach cap, which fits the classic geological model for the region.
Geological mapping has also identified a large area of tourmaline breccias covering much of the target, also considered an additional favorable pathfinder, characteristic of productive porphyry systems.
Larry Guy, Chaiman and CEO of Nobel, states: "With the field work now completed and drill permits in hand we are very excited to be the first to drill Cuprita. The classic signature of a buried porphyry at Cuprita can't be ignored. We are excited to get the drill turning. Nobel's outstanding portfolio of additional exploration projects in Chile will be tested in 2026."
Figure 1: Compilation map showing the location of the extensive leached cap (lithocap) and associated structures, quartz-copper veins, soil geochemical anomalies, tourmaline breccias associated with a magnetic low, that comprise the key criteria for a mineralized porphyry target.
Figure 2: Location of the proposed prioritized drill holes in the most prospectives identified zones showing geophysical mag anomaly and outcropping mineralized veins.
Figure 3: Section View IP 7055700N Chargeability Inversion. Projected proposed drill holes 2 and 3.
Figure 4. 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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