Tribeca Resources extends Gaby discovery strike length by
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28 FEBRUARY, 2024 | VANCOUVER, BC
Tribeca Resources extends Gaby discovery strike length by
400 metres and intersects 105 meter wide mineralized interval
at its La Higuera Copper-Gold Project in northern Chile
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources ”, the
“Company”) is pleased to announce the extension of the mineralized system at the Company’s La
Higuera Project (“the Project”) in the Coastal Iron Oxide Copper-Gold (IOCG) Belt of northern
Chile. Drill hole GBY013, which intersected broad mineralization over 105 meters downhole depth,
has added approximately 400 meters strike length to what is now a 1,400 metre long system at the
Gaby discovery.
Highlights:
Drill hole GBY013, a 400 meter step-out from drill holes GBY007 and GBY0012, intersected
105 metres at 0.18% copper and 0.04 g/t gold from 331 meters downhole within strong
magnetite breccias.
This intersection expands the known strike extent of mineralization from 1 kilometer to 1.4
kilometers.
Drilling of the final three holes in the drill phase, sited to test two geophysical anomalies
(gravity and IP) to the east of the main mineralized trend and to test the undrilled 400m
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 1km strike length.
Drilling for this Phase 2 program has now concluded, with 10 drill holes completed for a total of
3,806 meters. Assay results are awaited from the final three holes.
Tribeca Resources CEO, Dr Paul Gow 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 kilometers 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.”
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Table 1. Summary of significant mineralized intersections in drill hole GBY013.
HoleID From
(m) To (m) Downhole
Interval (m)
Cu
(%)
Au
(g/t)
Co
(ppm)
CuEq
(%)
GBY013 331 436 105 0.18 0.04 97 0.20
incl. 331 346 15 0.24 0.06 97 0.27
incl. 386 402 16 0.24 0.04 122 0.27
incl. 403 422 19 0.23 0.06 153 0.27
Note: Apart from the summary intersections in GBY013 (331-436m), the grade intersections are calculated over intervals >0.20% Cu with maximum internal
dilution of 10m @ 0.05% Cu and a minimum interval width of 10m. CuEq (%) grades have been calculated using recoveries from metallurgical test work
undertaken in 2006 on drill core from the Project, which are 90% for copper, 65% for gold and 50% for cobalt. Metal prices utilised were US$3.50/lb copper,
US$1,900/oz gold and US$15.88/lb cobalt.
Drill holes GBY013 and GBY014 discussion
Drill hole GBY013 comprised a 375 metre step-out to the north (Figure 1) from drill holes GBY007
(264m @ 0.31% copper, 0.06 g/t Au) and GBY012 (172m @ 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 @ 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 (Figure 1). 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.
The intersection of magnetite breccia-related copper-gold mineralization in GBY013 means that
this structurally-controlled alteration and breccia system, with attendant mineralization, has been
intersected over approximately 1,400m of north-south strike length. The additional drill data
suggests the broad envelope to the mineralized breccia system is trending to approximately 350°
(Figure 1). Alteration was present in GBY014, but weaker than seen elsewhere in other holes drilled
into the system, suggesting the system has weakened or potentially been displaced laterally or
vertically.
The 60° dip of the drillholes and the interpreted vertical orientation of the mineralized body
suggest true thicknesses will be approximately 50% of the downhole thickness.
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Figure 1. Location of drill holes GBY013 to GBY014 at the Gaby discovery.
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Notes on sampling and assaying
Analytical samples were produced using ½ HQ core and sent to ALS Lab in La Serena, Chile for
preparation and then to ALS Labs in Santiago, Chile and Lima, Peru for analysis. Preparation
included crushing the core samples to 70% < 2mm and pulverizing 1000g of crushed material to
better than 85% < 75 microns. All samples are assayed using 30g nominal weight fire assay with
AAS finish (Au-AA23) and a multi-element four acid digest ICP-AES method (ME-ICP61). Where the
ME-ICP61 results were greater than 10,000 ppm Cu the assays were repeated with ore grade four
acid digest method (Cu-OG62). The QA/QC procedure for this drilling program utilizes field
duplicates, standards and blanks that comprise approximately 10% of the total samples submitted.
The QAQC results indicate good accuracy and precision in the assaying program.
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. Dr. Gow has not verified any of the
information regarding any of the properties or projects referred to herein other than the La Higuera
IOCG Property. Mineralization on any other properties referred to herein is not necessarily
indicative of mineralization on the La Higuera IOCG Property.
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, has 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’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. Further information about the project
can be found in the NI 43-101 Technical Report lodged by Tribeca 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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Forward Looking Information
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beliefs of management and reflect the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict",
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suitable resource at the Project and the relationship between geophysical survey results and
potential mineralization.
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