Tribeca Resources extends IP anomaly north of the Gaby discovery at the La Higuera IOCG project
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JULY 27, 2023 | VANCOUVER, BC
Tribeca Resources extends IP anomaly north of the
Gaby discovery at the La Higuera IOCG project
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources”, the
“Company”) is pleased to announce results from extension geophysical surveying (Induced
Polarization - IP) at the Gaby discovery, which is part of the La Higuera IOCG project in
northern Chile. The results provide new chargeability anomalies that significantly extend
the chargeable zone at Gaby to the north, providing encouragement that recently
intersected mineralization continues beyond the limits of current drilling.
Highlights:
Two lines of extension IP geophysical surveying at the northern end of the Gaby
IOCG target have returned significant IP chargeability anomalism, up to 26 mV/V in
inverted data, consistent with the presence of disseminated sulphide minerals. The
new data extends the chargeable zone at Gaby by an additional 600m to the north.
The eastern line (1400E) also identified a promising coincident low resistivity – high
chargeability anomaly at its southern end, which presents a strong drill target, and
is located in the vicinity of small historic pits hosting both oxide and chalcopyrite
copper mineralization.
This IP survey was designed to test the area to the north of the Gaby discovery, where
ground magnetic and gravity anomalism are present, but not coincident. Chargeability
anomalism consistent with sulphide mineralization has been recorded adjacent to the
previously reported 1mGal gravity anomaly. This data is supportive of mineralization
intersected in the northernmost hole of the last program (e.g. 264m @ 0.31% Cu, 0.06 g/t
Au in GBY007) continuing further to the north.
Tribeca Resources CEO, Dr Paul Gow commented:
“These are excellent results from the extension IP surveying at Gaby, which significantly
extend the one-kilometre-long chargeability anomaly we have been successfully drilling.
Off the back of our recently announced financing, we are now preparing for the Phase 2 drill
program in which we will drill further north under cover and attempt to expand the known
size of this copper-gold system.”
IP Geophysical Survey
The IP survey comprised two lines, for 4.4 line-kilometres, located approximately 650
metres apart (Figure 1). The survey lines were configured in a NNE orientation (025°),
slightly oblique to the north-south lines historically surveyed in the area, in order to avoid
additional infrastructure (a road upgrade and new transmission powerline) erected in the
area since the original surveying in 2004-2008.
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The survey used a 100m pole-dipole array and utilized a n=1 to 20 configuration that
nominally represents a greater depth penetration than previous surveying at the target in
2004-2008, which utilized a n=1 to 6 configuration. The survey was undertaken by the same
contractor that completed the original survey.
Line 750E
Line 750E hosts an 800m long +20 mV/V chargeability anomaly, peaking at 26 mV/V
in the inverted data. The resistivity inversion indicates a resistive basement in this
zone, beneath a highly conductive horizontal layer that represents the gravel cover
and weathered top of basement.
Importantly, this line indicates that the 20 mV/V chargeable anomalism defined in
the historical surveying continues to the north. The two drillholes that have pierced
this cross-section (GBY006 and GBY007) are on the flank of and within the southern
portion of the anomaly, with both intersecting significant copper-gold
mineralization.
This chargeability anomaly represents a strong drill target and given the NNE
orientation of the survey line there is also potential that the mineralization drilled to
date may also expand, or trend, towards the east off the current north-south zone
drilled to date.
Line 1400E
Line 1400E hosts a strong coincident chargeability and low resistivity anomaly at its
southern end. The geometry of the anomaly suggests a potentially north-dipping
low resistivity zone. Drilling in the two holes to the west, 30-60m off-section,
encountered intervals of copper mineralization towards the end of the holes (e.g.
22m @ 0.15% Cu in RCH-LH-12 and 14m @ 0.24% Cu in RCH-LH-10). These
coincident chargeability and low resistivity anomalies represent a new drill target
well east of Tribeca’s drilling to date.
The northern end of Line 1400E hosts a chargeability anomaly of 17-19 mV/V
amplitude (Error! Reference source not found.), evident over approximately 450m
length of the line. It is not known if this is related to the highly chargeable zone in
the northern end of Line 750E.
Together the two new lines of IP data provide strong encouragement for the extension of
mineralization to the north of current drilling and provide an additional target to the east of
the main Gaby trend.
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Figure 1. Location of the IP lines surveyed in this program (750E and 1400E).
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Notes on geophysical surveying
The Induced Polarization (IP) surveying reported here was completed by Argali Geofisica
E.I.R.L., which is a longstanding and reputable Chilean geophysical contracting and
consulting company. The IP data were acquired with the pole-dipole array and a dipole
spacing of 100 m expanded through 20 separations (n= 1 to 20). A time-domain waveform
with a frequency of 0.125 Hz was employed. Survey location was determined by handheld
GPS using the Prov. S. America 1956 (mean) datum, which has been converted by the
Company to the WGS84 datum.
Qualified Person
All scientific and technical information in this press release has been prepared by, or
approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the
Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining
and Metallurgy (MAusIMM) and a qualified person for the purposes of NI 43-101.
About Tribeca Resources
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, have world-leading
expertise and a discovery history with iron oxide copper-gold deposits in the world’s great
IOCG Belts of the Carajás 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 Resources’ 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. The 822
hectare Gaby concession area is held under a purchase option (5% Exploration Levy on
expenditure incurred during the option period; a US$2 million final payment due March
2024; with a 1% NSR Royalty granted to the owner), with the remainder of the concessions
being outright owned (100%) by Tribeca Resources. Further information about the project
can be found in the NI 43-101 Technical Report lodged by Tribeca Resources on SEDAR on
24 October 2022.
On behalf of Tribeca Resources Corporation
Paul Gow Thomas Schmidt
CEO and Director President and Director
[email protected] [email protected]
+1 604 685 9316 +1 604 685 9316
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term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility
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