Nobel Resources drills 0.97% copper over 12 metres at La Salvadora, Chile
Nobel Resources Corp. [NBLC-TSXV; NBTRF-OTC] reported assays for 10 drill holes from its initial diamond drill program on its recently acquired La Salvadora copper project in Chile. Copper mineralization has been intersected in all drill holes, including significant intervals grading more than 1% copper. Drill holes are located within two areas of the project. Mineralization in both areas remains open.
Results to date have confirmed the discovery of a significant copper sulfide mineralized zone west of outcropping copper oxide mineralization. The sulfide mineralization is less than 70 metres below surface on average and remains open to the north, south and west as well as at depth. The potential for a covered oxide zone associated with a newly identified sulfide zone at the southern target area remains to be tested with additional drilling along with delineation of the outcropping oxide zone at the northern target area.
Results to date include drill hole SAL-001 that intersected 12 metres grading 0.97% copper and 17 metres grading 0.69% copper within a 52-metre zone that graded 0.57% copper. Hole SAL-008 returned 6 metres of 1.17% copper within a 27-metre zone grading 0.68% copper. Hole SAL-009 returned 11 metres of 1.1% copper within a 20.3-metre zone grading 0.91% copper.
Hole SAL-016 returned 6 metres of 0.97% copper, 8 metres of 1.24% copper, 15 metres of 1.3% copper and 15 metres at the bottom grading 0.36% copper within a 72-metre wide oxidized mineralized breccia with certain of the sampled intervals still with pending assays. Hole SAL-006 returned 10 metres of 0.96% copper within a 20-metre zone grading 0.64% copper.
The La Salvadora iron oxide copper gold (IOCG) project is located 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. The region is well established as a mining area with strong community support and good access to infrastructure, including electricity, water and ports and mining infrastructure in region.
The initial drill program focused on two areas: an area of a reverse circulation hole (SLVA-RC-0002) which reported 72 metres grading 1.21% copper and 0.21 g/t gold. This area is wide open for expansion; a southern area with a distinct 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. One drill hole, SAL-016, was drilled into the outcropping oxide zone.
The widest intersection to date on the southern target area was in hole SAL-008. This hole intersected 53 metres of mineralized breccia from 144 to 197 metres, including 27 metres of 0.68% copper.
Results obtained to date have confirmed the discovery of a significant buried mineralized sulfide zone west of the previously known outcropping oxide mineralization. The mineralization starts less than 70 metres below surface on average and remains open to the north, south and west as well as at depth. The potential for a hidden oxide zone associated with the new sulfide zone on the southern area remains to be tested with additional drilling.
David Gower, P.Geo., CEO, said, “These are excellent results from the initial scout drilling program for the Project. Copper mineralization at shallow depths occurs in two areas more than 1 km apart. Geological work by our field crews indicate that it is possible that the southern zone represents a fault offset to the west of the northern area and its possible mineralization may be continuous between the two areas. There is an extensive copper mineralized system here that extends for well over a kilometre.”
Nobel Resources can acquire a 100% interest in each of the Algarrobo project and the La Salvadora project, both potential IOCG-style, high-grade copper properties in Chile.