Total
0
Shares
Nobel29 Resources (TSXV:NBLC) discovers up to 36 per cent copper and 27 g/t gold in Chile
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Nobel29 Resources (NBLC) has discovered up to 36 per cent copper and 27 g/t gold at its Algarrobo Copper-Gold Project in Chile
  • The results stem from recent channel sampling at surface and underground at the project
  • Mineralization is characterized by very high-grade veins with adjacent mineralized wall rock with grades from 0.8-5 per cent copper
  • Copper-rich samples show consistent gold enrichment from 0.24-3.37 g/t gold with local values as high as 15 g/t gold and 27.4 g/t gold
  • The company has thousands of smaller copper mineralized veins to sample within the mineralized area 
  • Nobel29 Resources engages in the exploration and production of copper in northern Chile
  • Nobel29 Resources (NBLC) is down by 6.25 per cent and is currently trading at $0.60 per share

Nobel29 Resources (NBLC) has discovered up to 36 per cent copper and 27 g/t gold at its Algarrobo Copper-Gold Project in Chile.

The results stem from recent channel sampling at surface and underground at the project.

The company collected 133 chip/channel samples from the existing workings as well as trenches and surfaces exposures. The mineralization is characterized by very high-grade veins with adjacent mineralized wall rock with grades from 0.8-5 per cent copper.

The mining has been geared to high-grade, small-scale production for direct shipping 12 per cent copper ore to the Enami smelter 45 km South of Copiapó.

Highlights

  • Chip/channel samples across the high-grade mineralized structures have returned values as high as 36.22 per cent copper with numerous samples grading from 5-30 per cent copper
  • Copper-rich samples show consistent gold enrichment from 0.24-3.37 g/t gold with local values as high as 15 g/t gold and 27.4 g/t gold
  • Workings on the project generally do not exceed 40 m in depth
  • The company has thousands of smaller copper mineralized veins to sample within the mineralized area 

David Gower, CEO of Nobel29, commented,

"We are incredibly excited to commence the work to delineate the resources on this project. It’s very rare to see copper grades as high as we see on this project. This is a large mineralized system that extends for at least 6 kilometers along strike based on the historical workings in the area and sampling done by Nobel29 geologists.

Having recently closed a capital raising of approximately C$9 million that was escrowed until trading commenced this week, the company is well financed to execute on a major drill campaign at Algarrobo."

Nobel29 has begun diamond drilling and ground magnetic surveys on the project and results will be announced as they become available.

Nobel29 Resources engages in the exploration and production of copper in northern Chile.

Nobel29 Resources (NBLC) is down by 6.25 per cent and is currently trading at $0.60 per share as of 12:56 pm ET.

More From The Market Herald
ALX Resources (TSXV:AL) announces $1.5 million private placement

" ALX Resources (TSXV:AL) announces $1.5 million private placement

ALX Resources (AL) has announced a non-brokered private placement for gross proceeds of up to $1.5 million.
Cruz Battery Metals (CSE:CRUZ) significantly expands its Solar Lithium Project

" Cruz Battery Metals (CSE:CRUZ) significantly expands its Solar Lithium Project

Cruz Battery Metals (CRUZ) has expanded its drill-ready Solar Lithium Project in Nevada from 3,202 to 5,500 acres.
Sirios Resources (TSXV:SOI) signs its second drilling contract with Synee Drilling

" Sirios (TSXV:SOI) completes $448,996 capital raise

Sirios Resources (SOI) has closed its non-brokered private placement and flow-through private placement for aggregate gross proceeds of $448,996.
Origen (CSE:ORGN) capitalizes on lithium first-mover advantage in Newfoundland

" Spearmint (CSE:SPMT) commences phase II work program at the Goose Gold Project

Work has commenced on Spearmint Resources’ (SPMT) phase II work program at the Goose Gold Project.