Nobel Resources Signs Option Agreements to Acquire 100% Interest IN Chilean Copper Portfolio IN Antofagasta Region, Chile
NOBEL RESOURCES SIGNS OPTION AGREEMENTS TO ACQUIRE 100%
INTEREST IN CHILEAN COPPER PORTFOLIO IN ANTOFAGASTA REGION,
CHILE
TORONTO, ONTARIO January 6, 2025 – Nobel Resources Corp. (TSX – V: NBLC) (the “Company”
or “Nobel”) is pleased to announce it has entered into binding agreements pursuant to which it
can acquire a 100% interest in four separate copper projects (collectively, the “Projects”), namely
Cuprita, Janett, Pampa Austral and Anais (the “Transaction”). The Projects are being acquired by
Nobel’s wholly owned Chilean subsidiary, Mantos Grandes Resources Chile SpA (“Mantos”).
Mantos is acquiring the Cuprita Project claims pursuant to an option agreement dated January
3, 2025 between Mantos and a group of private Chilean companies listed below.
The Cuprita Project is the most advanced Project being acquired pursuant the Transaction and
will be the Company’s principal asset following the closing of the Transaction. Cuprita is a highly
prospective copper project with multiple near surface targets identified during recent rock
sampling campaigns.
The Janett, Pampa Austral and Anais Projects are being acquired pursuant to option agreements
dated January 3, 2025 between Mantos and each of Austral Exploraciones SpA (“Austral”), a
privately owned Chilean exploration company (respectively the, “Janett Option Agreement”, the
“Pampa Austral Option Agreement” and the “Janett Option Agreement”).
Highlights:
• Cuprita is a large, highly prospective copper project with year-round road access
located in a major copper producing region of Chile . Cuprita is located in the
renowned Paleocene Porphyry Copper Belt that hosts several major porphyry
copper deposits, such as El Salvador, Cerro Colorado, Spence, Sierra Gorda,
Fortuna, as well as some Au deposits (see figure 1). Several small-scale producing
mines are also located near the property. The property has untested geological
characteristics that indicate potential for a significant porphyry copper deposit.
• Janett and Pampa Austral have abundant copper oxide mineralization at surface
and multiple small scale artisanal operations (past and present). Many of these
small pits reach a depth of 20 to 30 meters and many have underground workings.
Historic results at Pampa Austral have returned 70 m grading 0.7% copper
(including 14m grading 2.1% copper + 0.1 g/t gold). Janett has seen little modern
exploration despite the multiple, past producing mines and anomalous copper
mineralization at surface.
• The Projects are located in a highly developed mining region North of Copiapo
surrounded by many of the major companies in the global copper mining business.
The combined portfolio enjoys road access and moderate elevation making the
Projects accessible for exploration programs 12 months of the year. Nobel intends
to initially focus on Cuprita and the near surface potential identified during recent
due diligence visits.
According to Larry Guy, CEO and Director of Nobel: “Our technical team has evaluated dozens of
early-stage copper projects in South America. This portfolio of copper projects is located in one of
the most important copper producing regions in the world and required years of persistence by
the vendors to assemble. Our Chilean technical staff have completed careful due diligence on all
of the properties and have identified geological characteristics commonly associated with large
porphyry deposits in the region on each of the properties.”
About the Cuprita Project
The 1,000 hectare Cuprita property is located approximately 126 km Northeast of Copiapo
(population 160,000), and 36 km Southeast of Diego de Almag ro, both are important regional
mining centers. The Project is accessible by road with a short traverse along a gravel track for
the final few kilometers. Average elevation for the property is estimated at 1,920 meters above
sea level and the Project can be advanced 12 months of the year.
Figure 1. Regional Map
Old mine workings that likely exploited high grade veins were initially identified. Soil and talus
geochemical surveys were completed by previous explorers in the vicinity of the old workings.
During Nobel’s initial due diligence site visits, numerous mineralized veins up to 30cm wide and
associated veinlets carrying copper mineralization were identified and sampled on the P roject.
These veins, along with the associated alteration are interpreted as evidence of a porphyry
system at shallow depth. Three highly prospective targets have been iden tified during due
diligence visits by Nobel geologists. The geologic model for the Cuprita Project is one similar to
other low pyrite major porphyry deposits in the belt.
Figure 2. Geochemistry anomaly exploration targets at Cuprita
Vern Arseneau, COO and Director of Nobel: “Cuprita has a similar surface geological signature to
that of major deposits in the region when at this same early stage. The Project also enjoys year-
round access, and we have a team in place ready to get to work. Highly anomalous copper at
surface in a prolific copper producing region with similar geology to neighboring, major producing
mines is an exciting place to start.”
About the Pampa Austral Project
The Pampa Austral Project is located about 35km north from the city of Diego de Almagro and can be
accessed via gravel roads all year. The 2,700 Ha Project is located within the Iron Oxide Copper Gold belt
(IOCG) that includes mines like Manto Verde (350 Mt grading 0.75% copper) and the Santo Domingo
deposit (390 Mt grading 0.3% copper). The district is well known as an active mining region and it is very
close to important infrastructure including power, water and ports.
Figure 3. Pampa Austral Location
Far West Mining Ltd. (“Far West”) explored the Project in the early 2000´s. Highlights include one
drill hole which reportedly intercepted Specular Hematite (an iron mineral) and a mineralized
copper zone of 70 m grading 0.7% copper (incl. 14m grading 2.1% copper + 0.1 g/t gold) over a
chargeability anomaly. The presence of iron and copper in close relation to a chargeability
anomaly are important marker s. Geochem ical grid sampling performed by previous explorers
shows a widespread >200 ppm Cu anomaly, that can be subdivided into 3 main zones. (See figure
4) The mineralized quartz veins strike to the SW and to the SE, and in the Central zone show a
broader anomaly. Within these zones occur in more restricted areas with +300 ppm copper values
Figure 4. Pampa Austral Geochemistry
About the Janett Project
The past producing Janett deposit is part of the coastal “stratabound Copper ore deposit”
metallogenic belt that can be followed for 400 km from Taltal to Tocopilla. Janett is located 16
km NNE of Antofagasta. A key feature of this type of ore deposit is the genetic link to magmatic
hydrothermal fluids and proximity to intrusives.
The Janett Project contains several past producing small scale mines including the Janett and
Michos mines. The Janett mine was a combination of a shallow open pit and underground
workings. 10 Channel samples along 5m widths were taken on the South wall of the Janett open
pit. Average grade over the 55 m was 0.79% copper. Copper oxide Mineralization remains open
to the North, East, South and West.
Figure 5. Janett Mine open pit and underground workings
Michos (part of Janett property) is a complex of 4 small open pits estimated at approximately
20 m eters deep. Abundant d isseminated copper oxide has been observed by Nobel
geologists, but no evidence of modern exploration activities was observed.
Figure 6. Disseminated copper oxide at Michos Mine.
About Anais
Anais, like Pampa A ustral, was previously explored by Far West in the early 2000’s . Anais is a
modest sized project approximately 1 x1 km (~100 hectares) located approximately 10km from
Manto Verde mine. Previous exploration activity delivered high grade copper results. Far West
reported 60m grading 2.47% copper and 0.33 g/t gold . Follow-up drilling by Far West did not
return significant results. An artisanal mine is located approximately 75 m south of this intercept.
Channel sampling from a pil lar in the artisanal mine returned similar grade s from Mantos
material (10m of 6.9% copper, 0.6 g/t gold).
Mining and associated infrastructure has improved in the area since the initial drilling b y Far
West. The limited footprint of Anais will concentrate exploration efforts towards high grade near
surface potential.