Tribeca Resources drills 0.2% CuEq over 105 metres at La Higuera, Chile

Share this article

Tribeca Resources Corp. [TSXV-TRBC; OTCQB-TRRCF] has extended the mineralized system at the company’s La Higuera project in the Coastal iron oxide-copper-gold (IOCG) belt of northern Chile. Drill hole GBY013, which intersected broad mineralization over 105 metres downhole depth, has added approximately 400 metres strike length to what is now a 1,400-metre-long system at the Gaby discovery.

Highlights: Drill hole GBY013, a 400-metre stepout from drill holes GBY007 and GBY0012, intersected 105 metres at 0.18% copper and 0.04 g/t gold from 331 metres downhole, within strong magnetite breccias.

This intersection expands the known strike extent of mineralization from 1-1.4 km. Drilling of the final three holes in the drill phase, sited to test two geophysical anomalies (gravity and IP (induced polarization)) to the east of the main mineralized trend and to test the undrilled 400 m strike length between GBY007 and GBY013, has been completed with the holes being logged and processed.

The two holes reported here were designed to test continuity of the currently known mineralized system to the north of its existing one km strike length.

Drilling for this phase 2 program has now concluded, with 10 drill holes completed for a total of 3,806 metres. Assay results are awaited from the final three holes.

Dr. Paul Gow, Tribeca Resources chief executive officer, commented: “With these latest results, we have significantly grown what is now a meaningful, shallowly covered, copper-gold system in a great location and jurisdiction, near abundant existing infrastructure and located only 10 km from the coast.

“The data from this drill phase has added a further approximately 40% to the strike length of the known system. It is currently being integrated with existing datasets in order to clearly understand the controls on mineralization and plan for further drilling at this emerging discovery.”

Drill hole GBY013 comprised a 375-metre step-out to the north from drill holes GBY007 (264m at 0.31% copper, 0.06 g/t Au) and GBY012 (172m at 0.23% copper, 0.05 g/t gold). Drill hole GBY013 penetrated 56m of gravel before hitting moderately-altered andesites. The drill hole intersected a strong magnetite alteration system, including magnetic breccias, with a significant mineralized section from 331m to 436m downhole depth. The intersection yielded 105m at 0.18% copper, 0.04 g/t gold in a chalcopyrite-pyrite-magnetite-amphibole-quartz-scapolite assemblage. The mineralization is dominantly hosted in vein networks, with the higher grades (the maximum individual 1-metre assay returned 1.2% copper) associated with zones of magnetite breccia.

Drill hole GBY014 was a further 200m step-out to the north from hole GBY013. GBY014 penetrated 67m of gravel followed by weakly altered andesite. The hole did not intersect significant mineralization, with a maximum 2m interval of 0.18% copper.

Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Caraj as district in Brazil and the Gawler and Cloncurry provinces of Australia.

Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.

Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile.

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *