Business
Kobrea Exploration Enters into Option Agreement to Acquire 100% of 73,334 Hectare Copper Porphyry Portfolio in Argentina
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") is p
About this update from Kobrea Exploration Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 19, 2024) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) (\"Kobrea\" or the \"Company\") is pleased to announce that it has entered into an exclusive option agreement (the \"Option Agreement\"), dated August 14, 2024, to acquire up to a 100% interest in certain mineral properties in the Mendoza province of Argentina (the \"Western Malargüe Copper Projects\" or the \"Properties\"), subject to a 1.5% net smelter return royalty (\"NSR\") in favour of the optionors. Highlights: Seven projects comprising a total of 73,334 hectares (733 square kilometres) Two mapped and sampled Cu-Au-Mo porphyry systems by Vale Exploration Argentina 12 porphyry targets identified in historical exploration No historical drilling, neighbouring projects granted drill permits for the first time in 2024 Road access and nearby infrastructure Five-year option agreement for Kobrea to earn a 100% interest in the property portfolio \"The execution of the Option Agreement represents a major milestone for the Company. The properties feature underexplored copper-gold-molybdenum porphyry systems within a world class porphyry belt where, in 2024, several neighbouring projects have had drilling permits granted for the first time,\" commented James Hedalen, CEO. Western Malargüe Copper Projects The Western Malargüe Copper Projects lie within the Neogene Porphyry Belt that straddles the border between Central Argentina and Chile (Figure 1). This world-class belt includes the Los Bronces / Rio Blanco and El Teniente porphyry copper deposits, representing the 2nd and 3rd largest copper deposits in the world, respectively, in terms of contained copper.1 The Properties are situated 80 kilometres south of El Teniente and 70 kilometres west of the City of Malargüe. Figure 1. Map illustrating Neogene porphyry copper belt and Western Malargüe Copper Projects1 Seven mineral properties covering 73,334 hectares comprise the Western Malargüe Copper Projects: Sofi, El Perdido, Mantos de Cobre, Cuprum, Elena, Veronica and El Destino (Figure 2). The Properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Several porphyry targets have been outlined at surface by previous operators, most notably VALE Exploration Argentina between 2010 and 2013, although no drilling has be...