Tribeca Resources Defines New Drill Target with Geophysical
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OCTOBER 29, 2024 | VANCOUVER, BC
Tribeca Resources Defines New Drill Target with Geophysical
Survey Results at the Chiricuto IOCG Project
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources ”, the
“Company”) is pleased to announce that it has received results from a recently completed
geological mapping program and gradient array IP (Induced Polarization) and MT (Magneto-
telluric) geophysical survey at the Chiricuto IOCG project in northern Chile.
Highlights:
Recent work confirms the presence, at Tribeca’s Chiricuto property, of one of the few
sizeable iron oxide alteration systems in the Mantoverde – Santo Domingo district that
is yet to be drill tested
Pre-drilling activities have identified:
o significant alteration and veining within the northern portion of the project,
including a zone of intense silicification, moderate leaching± hematite+
limonite, an east-west trending calcite-rich vein dominated zone, and a large
zone of chlorite-epidote altered andesite.
o a 1.2 km long zone of moderate to high chargeability, with locally coincident MT
low resistivity anomalism, within the northwestern portion of the project area.
Soil geochemistry is underway across the north and western parts of the project area to
further refine drill targets in zones of strong IP and ground magnetic anomalism
Fully funded drill programme planned to commence in the first quarter of 2025
Tribeca Resources CEO, Dr. Paul Gow commented:
“These new geological mapping and geophysical datasets provide multiple supporting
indicators for a strong drill target in this proven copper district. The observed alteration is
typical of IOCG environments, and the size of the geophysical anomaly is substantial. We look
forward to refining the drill targets through soil geochemistry and commencing our maiden
drill program in early 2025.”
Geological Mapping
A geological mapping program has been completed at 1:5,000-scale over the project area
(Figure 1). The dominant host rocks comprise andesite and porphyritic andesite, interpreted
as part of the La Negra Formation. This is the same host unit as the significant Mantoverde
deposit approximately 15km to the west. Alteration is present in the northern portion of the
area (Figure 2) and comprises:
i) two extensive zones of chlorite-epidote alteration of andesite, locally with
associated NNW-trending felsic dikes. These zones span approximately 500m x
400m and 400m x 150m.
ii) a sector with a predominance of calcite veins that have a preferential north-south
orientation, within a broader calcite zone elongated in the east-west direction,
which is coincident with part of the ground magnetic anomaly.
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iii) a hydrothermal alteration zone oriented in a north-south to northeast direction,
extending 400m in length and 150m in width, and is characterized by intense
silicification, moderate leaching±hematite+limonite, and the scarce presence of
disseminated specularite corresponding to a white to reddish fine-grained rock,
with sporadic quartz-clay veinlets in fractures (kaolinite) and possible alunite in
veinlets.
Figure 1. Location of the Chiricuto Property
Geophysical Surveying
The objective of the geophysical surveying was to map any anomalous chargeable or low
resistivity zones within the project area, either under the gravels or in exposed areas. Several
lines of historic IP had indicated significant chargeability anomalism throughout the area,
although the north-south orientation of the lines had not allowed for any understanding of the
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geometry of these zones. The survey utilized a gradient array IP method, with concurrent MT
data acquisition. East-west lines were completed with a 400m line spacing. The results indicate
a broad area, approximately 1.2km length by 400m width, of north-south-trending
chargeability anomalism to the north of the principal magnetic anomaly in the area.
Figure 2. Summary of the geological mapping (including alteration) (left) and the gradient array IP chargeability
data from the recent work program (right).
Next Steps
A soil sampling program is underway over outcropping areas within the broad chargeable
zone, in order to refine and prioritize drill targets. A drill program of approximately 1,500
meters of diamond drilling is being prepared. The drilling program is fully funded following
the Company’s latest financing, completed in July and August of this year.
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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 La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca
on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in
the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system in the
Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean
Coastal IOCG Belt.
For more information, please contact:
Paul Gow Thomas Schmidt
CEO and Director President and Director
[email protected] [email protected]
+1 604 685 9316 +1 604 685 9316
Qualified Person
The information in this release has been compiled by Dr. Paul Gow, Director and CEO of
Tribeca Resources, based on the review of the information from historical work programs. Dr.
Gow is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a
qualified person for the purposes of NI 43-101. Dr. Gow has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a qualified person for the purposes of NI 43-101.
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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
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The forward-looking statements and information in this press release include information
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