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Nobel29 Resources Corp. Provides Update on Algarrobo Copper-Gold Project, Chile
TORONTO, June 11, 2021 (GLOBE NEWSWIRE) -- Nobel29 Resources Corp. (TSX-V: NBLC) (the “Company” or “Nobel”) provides an update on the ongoing exploration progra
About this update from Nobel Resources Corp
[{"type":"text","content":" TORONTO, June 11, 2021 (GLOBE NEWSWIRE) -- Nobel29 Resources Corp. (TSX-V: NBLC) (the “Company” or “Nobel”) provides an update on the ongoing exploration program at the Algarrobo project in Chile (Figure 1) (the “Project” or the “Algarrobo Project”). The Company has completed 31 diamond drill holes to date, for which it has assays results for 12 drill holes on wide spaced target areas within the Algarrobo Project. In addition, the Company has received interpreted results for 3,733 line km of high-resolution magnetic survey data covering the Project, and this data indicates numerous highly prospective targets. The Project area has been subject to artisanal mining for decades which demonstrates the presence of high grade copper mineralization distributed over at least 5 kilometers of strike length in numerous mineralized structures exposed in mine openings in the northeast part of the Project. The Project is unusual in that there is limited basic geological mapping or documentation of the geological controls on the mineralization given the long history of mine development. The ongoing initial drilling by the Company comprises a shallow hole diamond drill program on numerous targets over approximately a 12-kilometer expanse across the Project. The objective of this very wide spaced drilling, along with ongoing structural mapping, trenching and geophysical surveys is: To prioritize the most highly prospective areas for a large, commercial scale deposit which will be the focus of the future more focused drilling program, and Provide the basic geological and structural information on the controls of mineralization such that drilling can most effectively delineate the mineralization According to Vern Arseneau, P.Geo., COO of Nobel, “We have learned a great deal from the initial program and continue to improve our knowledge of the Project. The combination of the magnetic survey and the drilling in the southern area of the Project is delivering exceptional targets on features with scale and with copper mineralization associated with them (assays pending for this area). The area in the northeast of the Project, where the historical mining operations have taken place, has shown that there is a level of structural complexity that must be understood in order to effectively delineate the mineralization related to the high grade vein structur...