Tribeca Resources announces encouraging soil geochemistry results coincident with geophysical targets ahead of drilling at Chiricuto
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15 JANUARY, 2025 | VANCOUVER, BC
Tribeca Resources announces encouraging soil geochemistry
results coincident with geophysical targets ahead of drilling at
Chiricuto
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“ Tribeca Resources ”, the
“Company”) is pleased to announce results from a systematic soil geochemical survey over the
geophysical targets at the Chiricuto IOCG Property ("Chiricuto Property") in the Atacama region of
northern Chile. Strong copper and gold soil anomalism is present and is associated with Induced
Polarization (IP) and ground magnetic targets that are proposed for drilling in the coming months.
Highlights:
Highly anomalous copper and gold soil samples with values up to 935 ppm copper
and 0.127 g/t gold
Two highest copper samples located directly over the two most significant
geophysical anomalies: one over the intense ground magnetic anomaly, one over a
coincident gradient array IP chargeability and magneto-telluric (MT) low-resistivity
anomaly
Documentation for the upcoming drilling program submitted to the appropriate
authority (Sernageomin), with drilling expected to commence in February
Drilling activities at the Chiricuto Property will be undertaken in parallel with preparation for further
drilling at the Company’s flagship La Higuera Project.
Tribeca Resources CEO, Dr. Paul Gow commented:
“Integration of the new soil geochemistry data with our recently reported geophysical survey results
reinforces our proposed drill targets at Chiricuto. These now represent exciting combined
geophysical-geochemical targets in this growing copper district, dominated by Capstone Copper
Corp. The very strong gold soil results accompanying the anomalous copper are highly
encouraging, and consistent with the metals commonly present in IOCG systems. We look forward
to commencing drilling at Chiricuto in the coming month.”
Chiricuto Project overview
The Chiricuto Property is a 570 hectare property located in the established Mantoverde district of
the Chilean Coastal Belt, 15 km and 21 km from Capstone Copper Corporation’s Mantoverde mine
and Santo Domingo development project, respectively (Figure 1).
The project is located within the andesite-dominated lower unit of the Middle-Upper Jurassic La
Negra Formation, which is the same rock unit that hosts the Mantoverde deposit (approximately 1
Billion tonnes of oxide and sulphide copper resource, Capstone Copper MRE dated 31 December
2022 - Measured and Indicated categories). The rocks are in the hanging-wall to a major east-
vergent thrust, parallel to, but located between, the regional Atacama and Chivato Fault Systems.
Much of the Chiricuto Property area is located under interpreted thin alluvial or colluvial gravel
cover, however outcrop is locally present and hosts several small copper or iron workings and pits.
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Figure 1. Location of the Chiricuto Property. Mineral Resource details for surrounding deposits are shown and sourced
as follows: Mantoverde and Santo Domingo - Capstone Copper Estimated Mineral Resources statement dated 31
December 2022 (Measured and Indicated); Sierra Norte – Capstone Copper news release dated 31 July 2024
(Historical Resource - Measured, Indicated and Inferred)
The Chiricuto soil sampling program
A systematic 200m x 200m spaced grid soil sampling program was completed over the
previously announced geophysical targets at the Chiricuto Property (see Tribeca’s news release
dated 29 October, 2024). The objective of the soil survey was to delineate zones of higher
copper-gold within the extensive geophysical target area in order to prioritize and refine drill
targets for the upcoming drill program. The survey spanned approximately 2.5km x 200m-
1,000m of outcropping to sub-cropping area in the northwest of the property (Figure 2). The
sampling comprised collection of a 200 gram sample of material finer than 180 microns (-80#)
from 30 cm depth. The samples were analyzed at ALS laboratories for a multi-element package
plus super-trace gold (ALS code AuME-ST43).
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The maximum gold and copper values returned were 935 ppm Cu and 0.127 g/t Au. The maximum
copper value was returned from over the intense >3,000 nT magnetic anomaly in the central-west
of the property. The second highest copper anomaly was returned from the northwest of the
property coincident with a prominent gradient array chargeability anomaly and magneto-telluric
(MT) low-resistivity anomaly (Figure 2). Importantly, this zone of copper anomalism also hosts a
400m x 300m zone of gold in soil of >50 ppb Au (0.05 g/t Au), with two samples above 0.1 g/t Au.
Upcoming drilling program
These coincident geochemical-geophysical targets at the Chiricuto Property are planned to be
tested by an approximate 1,500m diamond drilling program expected to commence in February.
The requisite documentation has been submitted to the appropriate authority (Sernageomin) and
the drilling contractor has been appointed.
Figure 2. Summary soil geochemistry copper results. The key gradient array IP anomaly in the northwest of the property
displays coincident copper and gold anomalism in the soil data. Copper anomalism (to 935 ppm Cu) is also coincident
with the strong magnetic anomaly in the central-west area.
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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
Property and the Chiricuto Property. Mineralization on any other properties referred to herein is
not necessarily indicative of mineralization on the La Higuera Project and the Chiricuto 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 Resources’ flagship property is the La Higuera 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 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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