Kobrea Receives Approval to Conduct Mineral Exploration at El Perdido and Elena Projects - Western Malargüe Mining District - Argentina
Kobrea Receives Approval to Conduct Mineral
Exploration at El Perdido and Elena Projects -
Western Malargüe Mining District - Argentina
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2024) - Kobrea Exploration Corp. (CSE:
KBX) (FSE: F3I) (OTCQB: KBXFF) ("
Kobrea
" or the "
Company
") is pleased to announce that the
Senate and the Chamber of Deputies of the Province of Mendoza, Argentina, have ratified
Environmental Impact Statements for 34 projects in the Western Malargüe Mining District (the "
WMMD
").
As part of this approval, two of Kobrea's projects, El Perdido and Elena, have been approved for mineral
exploration activities, including drilling.
"This is a huge step forward in the development of the Western Malargüe Mining District," commented
James Hedalen, CEO. "This is the first time ever that mineral exploration including drilling has been
approved on any of Kobrea's projects. We are extremely excited to get on the ground at El Perdido and
Elena to begin field work that will culminate with the first ever drill program at Kobrea's projects. I would
like to thank the government of Mendoza, Impulsa Mendoza and the project vendors for their many years
of hard work to get to this point."
Environmental Impact Statements
On November 12, 2024, Environmental Impact Statements for 34 projects were ratified in the Provincial
Legislature, allowing for the exploration and development of 34 mining projects in the department of
Malargüe. The approval of the first 34 projects came after an extensive process of public hearings,
citizen participation, and technical analysis. Over the course of the next few months, more projects,
including the remaining five projects held by Kobrea in the WMMD, will undergo the same approval
process.
El Perdido Project
The 6,878-hectare El Perdido Project is host to a porphyry Cu-Au-Mo system that has been defined at
surface but has not seen any drilling to date. The porphyry target is characterized as a 2 x 3-kilometre
hydrothermal alteration footprint exhibiting classic porphyry alteration assemblages with localized
potassic alteration coming to surface (
Figure 1
). A 900 x 500-metre area of quartz stockwork veining
coincides with anomalous copper-gold-molybdenum rock geochemistry, mapped quartz diorite
porphyritic intrusions, localized biotite breccias and potassic alteration in an area that is otherwise
dominated by phyllic alteration. Interpretation of ground magnetometer data collected in 2013 outlines a
subsurface magnetic anomaly measuring roughly 1,000 metres across and extending 1,000 metres to
depth that is surrounded by a decreased magnetic signature, representing an attractive geophysical
target in the context of porphyry Cu-Au-Mo exploration.
Figure 1. 3-dimensional representation of the porphyry Cu-Au-Mo exploration target at El Perdido.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/230364_65ddaf66e47a5b67_001full.jpg
Elena Project
The 13,818-hectare Elena Project encompasses an underexplored 5 x 7-kilometre trend of high-level
hydrothermal alteration that may be associated with one or more porphyry copper ± gold ± molybdenum
systems. Three historically identified porphyry prospects occur on the Elena Project: Las Cargas,
Tiburcio and Cerro Bayo (
Figure 2
).
Figure 2. Map and images showing porphyry Cu ± Au ± Mo prospects at Elena Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10375/230364_65ddaf66e47a5b67_002full.jpg
The Las Cargas prospect is characterized as a 1.5 x 1.5-kilometre colour anomaly with widespread
phyllic-argillic alteration where limited historical rock sampling identified chalcocite-cemented breccias
grading up to 50% copper. The Tiburcio prospect is characterized as a 1.5 x 2-kilometre colour anomaly
that has seen no reported sampling of any kind to date. The Cerro Bayo prospect is defined as a 2 x 2-
kilometre colour anomaly associated with an advanced-argillic altered dacitic intrusive body. The
prospect has seen very limited geochemical sampling to date.
Qualified Person
The scientific and technical information in this news release has been reviewed by Rory Ritchie, P.Geo.,
Chief Geologist and Director of Kobrea Exploration Corp. and a Qualified Person under National
Instrument 43-101. The technical information referenced in this release relates to historical exploration
completed by previous operators of the Property and the Company has not verified such historical
results.
About Kobrea
Kobrea Exploration Corp. is a mineral exploration & development company focused on the acquisition
and exploration of base metal projects. Kobrea holds the right to earn a 100% interest in 7 projects
totaling over 733 km
2
in southwestern Mendoza Province, Argentina. The properties are considered
highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper
targets have been outlined to date exhibiting multi-kilometre hydrothermal alteration footprints,
anomalous copper ± gold ± molybdenum geochemistry, quartz stockwork veining, localized hydrothermal
breccias and Miocene aged dacitic to dioritic porphyry intrusions. Kobrea also holds a 100% interest in
the Upland Copper Project in British Columbia, Canada.
For more information, please consult the Company's filings, available at
www.sedarplus.ca
.
ON BEHALF OF THE BOARD OF DIRECTORS
Per:
"
James Hedalen
"
James Hedalen
CEO & Director
Contact Information
James Hedalen
CEO & Director
Mobile: (778) 322-9066
Email:
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable
securities laws with respect to the Company, including statements respecting (i) the Company's plan
to get on the ground at El Perdido and Elena to begin field work that will culminate with the first ever
drill program at a Company project and (ii) Kobrea's remaining projects in the WMMD undergoing the
environmental impact statement review process and the timing thereof. These forward-looking
statements generally are identified by words such as "believe," "project," "aim," "expect," "anticipate,"
"estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and
similar expressions. Although the Company believes that the expectations and assumptions on which
such forward-looking statements and information are based are reasonable, undue reliance should
not be placed on the forward-looking statements and information because the Company can give no
assurance that they will prove to be correct. Since forward-looking statements and information address
future events and conditions, by their very nature they involve inherent risks and uncertainties. Many
factors could cause actual future events to differ materially from the forward-looking statements in this
press release. The forward-looking statements included in this news release are expressly qualified by
this cautionary statement. The forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes no obligation to update publicly
or revise any forward-looking statements or information, whether as a result of new information, future
events or otherwise, unless so required by applicable laws.
The Canadian Securities Exchange has not reviewed this press release and does not accept
responsibility for the adequacy or accuracy of this news release.
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