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Tribeca Resources acquires option over rare undrilled geophysical target in the Mantoverde District of Northern Chile and reports final drill results from the La Higuera project
(TheNewswire) 27 MARCH, 2024 / TheNewswire / VANCOUVER, BC - Tribeca Resources ...
About this update from Tribeca Resources Corporation
[{"type":"text","content":"Tribeca Resources acquires option over rare undrilled geophysical target in the Mantoverde District of Northern Chile and reports final drill results from the La Higuera project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 27 MARCH, 2024\n \n \n /\n \n \n TheNewswire /\n \n \n VANCOUVER, BC\n- Tribeca Resources Corporation\n \n \n (TSXV: TRBC)\n(OTCQB: TRRCF) (“\n \n \n Tribeca\nResources\n \n \n ”, the “\n \n \n Company\n \n \n ”) is\npleased to announce it has entered into a purchase option agreement\n(“the\n \n \n Agreement\n \n \n ”) with two groups of private owners (the\n \n \n “Project Vendors”\n \n \n ) to acquire a 100% interest in a 570 hectare property\nlocated in the established Mantoverde district of the Chilean Coastal\nBelt, 15 km and 21 km from Capstone Copper Corporation’s\n(“\n \n \n Capstone\nCopper\n \n \n ”) Mantoverde mine and Santo Domingo\nproject, respectively (Figure 1) (the “\n \n \n Chiricuto\n \n \n Property\n \n \n ”).\nFurther, final assays from Phase 2 drilling at the Company’s\ncornerstone La Higuera Project, which has delivered a 40% increase to\nthe size of the Gaby mineralised system, are reported.\n \n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n Binding purchase option executed for acquisition of a\n100% interest in the Chiricuto Property, hosting a rare undrilled iron\noxide alteration system in the Mantoverde – Santo Domingo district\nof the Chilean Coastal iron oxide copper-gold (\n \n \n “IOCG\"\n \n \n )\nBelt.\n \n \n \n \n \n \n IP and magnetic surveying results, combined with\nsignificant copper workings on adjacent licences suggest the potential\npresence of a large magnetite ± sulphide system.\n \n \n \n \n \n \n With a modest up-front payment, Tribeca Resources’\nnovel “exploration levy” concept applied, and the final purchase\nprice dependent on metal contained in a maiden Mineral Resource\nEstimate (“\n \n \n MRE\n \n \n ”), the Agreement provides Tribeca Resources’\nshareholders with a low-cost option on an exciting property with\nstrong IOCG potential.\n \n \n \n \n \n \n Pre-drilling activities at the Chiricuto Property will\nbe undertaken in parallel with preparation for further drilling at...