Nobel Resources drills 0.57% copper over 50 metres at La Salvadora, Chile
Nobel Resources Corp. [NBLC-TSXV; NBTRF-OTC] provided an update on the initial drill program on its recently acquired Salvadora copper project in Chile. The program commenced in late November and six drill holes have been completed so far, with assay results received for four holes to date. Drilling also continues at its Algarrobo project with the drill presently testing the large Central target. Results have been received for the first two widely spaced holes drilled on the Northeast target with assays pending for the Central target.
La Salvadora iron oxide copper gold (IOCG) project, is located approximately two hours’ drive north from Nobel’s Algarrobo project. La Salvadora occurs in the vicinity of the large Manto Verde (Anglo American) and Santo Domingo (Capstone Mining) IOCG deposits. The area is well serviced by all-weather roads and can be worked year-round.
Area of SLVA-RC-0002 intersected 72 metres grading 1.21% copper and 0.21 g/t gold. This area is wide open for expansion. A second distinct buried magnetic anomaly approximately 1 km to the south with only a single drill hole in it (SLVA-RC-0010) which intersected 20 metres grading 0.6% copper and 0.15 g/t gold at shallow depths. A series of drill holes to evaluate the extension of the copper oxide zone that extends at least 750 metres along a northwest trending mineralized structure.
All the holes drilled to date by Nobel have intersected mineralization containing chalcopyrite as well asspecularite, pyrite, magnetite hosted in hydrothermal breccias varying in core thickness from 30-73.4 metres. The widest intersection to date is from hole SAL21-006, drilled on target 2, the buried magnetic anomaly described above. This hole intersected 73.4 metresof mineralized breccia from 154.7-228.1 metres with assay results pending for this hole.
The first five drill holes targeted the depth and lateral extensions below previously identified copper oxide mineralization at surface in the vicinity of historical RC drill hole SLVA-RC-0002. Following completion of the initial scout holes on this target, the drill was recently moved to the area of the buried geophysical anomaly (target 2), where hole 6 is located. According to Vernon Arseneau, P.Geo., COO of Nobel, “The results obtained to date at Salvadora confirm the presence of at least two extensive mineralized bodies associated with hydrothermal breccias that are typical of deposits within the area. It is very early in the exploration program, however drilling has demonstrated there is a thick zone of mineralized hydrothermal breccia that is continuous between the holes drilled to date. Subsequent exploration will attempt to identify areas with higher grades such as are being mined presently in this area of Chile. The breccia zones are generally in the 50m range in thickness. The Company is planning to complete this initial scout phase of drilling and use it to plan the next phase of drilling to better define size, continuity and grade of these exciting
Nobel Resources can acquire 100% interests in each of the Algarrobo project and the La Salvadora project, both potential Iron Oxide Copper Gold Ore (IOCG) style, high grade copper properties in Chile.