Nobel Resources Signs Option Agreement to Acquire the Pircas Verdes Copper Project in Chile

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[{"type":"text","content":" TORONTO, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Nobel Resources Corp. (TSX – V: NBLC; OTCQB: NBTRF) (the “Company” or “Nobel”) is pleased to announce that the Company, through its wholly owned subsidiary, Mantos Grandes Resources Chile SpA (“Mantos”), has entered into a definitive option agreement (the “Option Agreement”) to acquire a 100% interest in the Pircas Verdes project (“Pircas Verdes” or the “Project”). According to Vern Arseneau, COO of Nobel, “The Pircas Verdes project is situated within a highly productive copper producing district, close to several large porphyry copper +/- molybdenum deposits. Within the Project, the key geological features that typically indicate potential for porphyry copper related mineralization have been identified by Nobel’s team. It is rare to find a prospect with such strong geological indicators for a porphyry target in this area that has not been extensively drilled already.” Presently, the Company is in the process of acquiring an access agreement from the Local Farm Cooperative that owns the surface rights in the area. There are no farming activities at the project area due to the high altitude and lack of land suitable for farming and local residents are supportive of mining, exploration and development. Many residents work at local mining operations as well as farm their land and are therefore familiar with exploration and mining activities. The initial exploration program will include geological mapping and sampling of the project area. A ground magnetic survey will be completed followed by selected IP lines over areas of interest, to be followed by diamond drilling and trenching. The company expects to complete this work, including drilling, during the first year of the option agreement.   The prospect is located east of the Pelambres-El Pachon world class porphyry system. A number of other copper porphyry and porphyry skarn deposits are located near Pircas Verdes. Piton is a leached intrusive with anomalous copper values in rock chip samples that covers an area of 1,500m by 800m. Piton is interpreted as possibly representing the upper levels of a buried mineralized porphyry system.  The Pircas Verdes prospect area contains intense quartz-sulfide stockwork exposed over an area of approximately 450m by 600m peripheral to the Piton leached intrusive. Other exploration targe...

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