(TheNewswire)
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6 OCTOBER, 2026 – TheNewswire - VANCOUVER, BC - Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to report assay results from the first of four drill holes completed during the maiden drill program at the discrete Chirsposo Sur target at its La Higuera IOCG Project (“La Higuera”) in northern Chile.
Highlights:
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New discovery under cover: CSS001, the first drill hole into the Chirsposo Sur IOCG target has intersected a shallow sulphide-bearing magnetite breccia with a 67m drill intersection averaging 0.52% Cu and 0.15 g/t Au from 71m, including 29m at 0.91% Cu and 0.26 g/t Au from 75m.
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Program expanded: four holes have now been drilled within the 1.2km long magnetite alteration system present at Chirsposo Sur.
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Three for three: all three targets drilled at La Higuera (Gaby, Chirsposo and Chirsposo Sur) have intersected copper-gold mineralization, within 4km of each other on concessions now 100% owned by Tribeca, supporting the interpretation of La Higuera as an emerging IOCG district
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Gaby “look-alike”: mineralization in CSS001 closely resembles that at Gaby, 4km to the north, where Tribeca previously drilled 268m at 0.66% Cu and 0.14 g/t Au, including 90m at 1.02% Cu.
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Assays for holes CSS002 to CSS004 are pending and assays will be reported when available. The Company is evaluating an aggressive ramp-up in drilling across its La Higuera concessions to determine the size potential of each of the three systems and test two additional targets at Benja and Don Baucha.
Tribeca Resources CEO, Dr. Paul Gow commented:
“Our first drill hole at Chirsposo Sur encountered a strong breccia and sulphide bearing system in a target with no outcrop and under 37 metres of gravel cover. This is the third of three targets we have drilled at the La Higuera Project, with all three targets returning copper-gold mineralization. ”
“Given these positive results at Chirsposo Sur and our recent acquisition of 100% control of the broader project, via the exercise of the Gaby option, we are now reviewing options to fast-track exploration work at La Higuera. Our objective remains to grow and define the three mineralized systems at the project; and seek to add further scale by testing two further undrilled targets.”
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Figure 1. Diagram showing an overview of the La Higuera project and the relative location of the different targets. Drill intersections at Chirsposo and Gaby were reported in Tribeca’s NI 43-101 report with an effective date of August 19, 2022 and news release dated January 30, 2023, respectively.
Chirsposo Sur drill program
As previously announced in the news release of April 28, 2026, a drill program comprising three diamond holes for a planned total of approximately 1,050m, was initiated at the Chirsposo Sur target. Two holes were designed to test discrete magnetic highs within the main magnetic and gravity target, with a third hole to the south to test a rare coincident low resistivity (<60 ohm.m) anomaly evident in the pole-dipole IP data.
The three holes in the originally proposed program have been completed and, with the encouragement of the mineralization intersected in CSS001, the program was expanded with an additional hole, CSS004, into the southernmost magnetic anomaly (Figure 2). A total of 1,241m was drilled and collar details of the four holes are included in Table 2.
Table 1. Summary of significant mineralized intersections in drill hole CSS001.
|
Hole ID |
From (m) |
To (m) |
Downhole |
Cu |
Au |
Co (ppm) |
CuEq |
|
CSS001 |
71 |
138 |
67 |
0.52 |
0.15 |
170 |
0.68 |
|
incl. |
75 |
104 |
29 |
0.91 |
0.26 |
224 |
1.16 |
Note: Apart from the summary intersection in CSS001, the grade intersections are calculated over intervals >0.20% Cu with maximum internal dilution of 10m @ 0.05% Cu and a minimum interval width of 10m. CuEq (%) grades have been calculated using recoveries from preliminary metallurgical test work on drill core from the nearby Gaby IOCG Project, which are 90% for copper, 65% for gold and 50% for cobalt. Metal prices utilised were US$4.75/lb copper, US$3,500/oz gold and US$20.00/lb cobalt. The Gaby IOCG Project recoveries are used as a proxy and may not be representative of Chirsposo Sur. The copper equivalent formula used was CuEq(%) = Cu(%) + (Au (g/t) * 0.776072) + (Co (ppm) * 0.000234).
Click Image To View Full SizeFigure 2. Location of the four drill holes at the Chirsposo Sur target, with reference to the ground magnetic data and the 1:100,000-scale geology.
Drill hole CSS001
The first, and northernmost, of the four holes, CSS001, intersected a mineralized zone of intense veining and brecciation immediately below 37m of gravel overburden (Figure 3). The zone of veining and brecciation, from 37m to 157m, hosts copper mineralization within magnetite breccias and local semi-massive chalcopyrite veins. Post-mineralization andesite dykes are present cross-cutting the zones of veining and brecciation (Figure 4).
The weathered layer immediately below the gravel overburden is thin, with approximately 9m of oxidized material from 37m to 46m depth and hosting several two-metre samples of 0.1% - 0.2% Cu. The main copper-mineralized interval comprises 67m @ 0.52% Cu, 0.15 g/t Au from 71m within the breccia zone. The dip and strike of the mineralized body is not currently constrained, so the true thickness of this mineralized intersection is unknown.
The copper mineralization consists of a chalcopyrite-pyrite assemblage, with minor pyrrhotite sporadically present. The chalcopyrite is present within magnetite-pyrite-chalcopyrite veins, as blebs or disseminated throughout the rocks, or as individual semi-massive coarse-grained chalcopyrite-pyrite veins up to 20cm thick.
The breccia system is hosted in a medium-coarse grained diorite, which is locally intruded by post-mineralization, commonly porphyritic, andesite dykes, most prominently in the lower parts of the hole, with downhole widths for the dykes of between 3m and 30m.
The host rocks display a strong, commonly pervasive, and locally texturally destructive, magnetite-amphibole alteration with a variety of associated minerals including scapolite, quartz, epidote and the sulphides. Consistent with what is observed at the Gaby target 4km to the north, this style of alteration is termed the Association 1 alteration. Epidote is common where chalcopyrite is more well developed, often with coarse grained magnetite in veins. The very coarse-grained chalcopyrite-pyrite mineralization seen in the interval 75-85m in CSS001 (Figure 4) appears very similar to the Association 2 alteration event at the Gaby target.
As such, the mineralization in CSS001 appears similar in its mineralogy, breccia association, texture and paragenesis to that intersected previously by Tribeca at the Gaby target in 2023-2024 (see Tribeca’s news release of January 30, 2023). Gaby is located 4km to the north of Chirsposo Sur and is interpreted to be located along a similar north-south fault system that likely forms part of the regional Atacama Fault System in the Coastal IOCG Belt.
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Figure 3. Cross-section illustrating the geology intersected in drill hole CSS001. The key mineralized zone is located between 71m and approximately 138m. The andesite/diorite hosts the magnetite-sulphide breccias and veining, and has subsequently been intruded by a late dyke that hosts minimal mineralization.
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Figure 4. Selected drill core examples from drill hole CSS001. A) Transition from the weathered zone to fresh sulphide-bearing breccia immediately below the base of gravel overburden (CSS001 - 44m), B) Typical zone of intense veining and brecciation within the host diorite. Vein and matrix infill comprises mixtures of scapolite, quartz, magnetite, amphibole, epidote, pyrite and chalcopyrite (CSS001 - 104m), C) intrusive contact between the scapolite-actinolite-magnetite-pyrite-epidote-chalcopyrite breccia on the left and fine-grained andesite on the right (CSS001 - 49.5m), D) thick semi-massive veins of coarse-grained pyrite-chalcopyrite (CSS001 - 82m), E) chalcopyrite-epidote mineralization within a thick quartz vein hosted by the diorite (CSS001 - 137.2m), and F) massive magnetite band with total replacement and textural destruction of the host diorite (CSS001 - 149m).
Drill holes CSS002 to CSS004
Drill assay results are pending for drill holes CSS002 to CSS004, but summary geological observations are as follows:
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CSS002: intersected 39m of gravel overburden, below which a thick zone of veining and breccia development is present between 92m and 254m associated with strong magnetite alteration. The veining and alteration style is broadly similar to that seen in CSS001, with sulphide minerals present including pyrite, chalcopyrite and locally pyrrhotite, with pyrite the dominant sulphide. CSS002 appears to have a lesser amount of the Association 2 coarse-grained pyrite-chalcopyrite mineralization than CSS001, but significantly more pyrrhotite, locally in a semi-massive occurrence. The host rock is strongly overprinted by the alteration, but appears to be a coarse-medium grained diorite. The andesite dykes seen in CSS001 are also present in CSS002, but appear as thinner intervals and are generally less volumetrically important. The hole was terminated at 315.1m after the intensity of veining and presence of small (20cm) breccia bands reduced beyond approximately 280m depth.
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CSS003: was drilled off the main magnetic trend (Figure 2) to test a relatively smaller, but intense, coincident IP chargeability and low resistivity anomaly. The hole intersected 7m of gravel overburden, then significantly less-altered rocks, with only several thin bands (maximum of two metres thick) of magnetite-amphibole-pyrite±chalcopyrite mineralization. The hole was terminated at 282.7m.
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CSS004: this hole was added to the program after holes CSS001 and CSS002 reinforced the very strong association between the breccia and sulphide-bearing systems and the intense north-south magnetic anomaly. This hole was much more strongly dominated at shallow depths by post-mineralization intrusive bodies. Gravel cover is thinner at only 10.5m, below which a magnetite-breccia sequence from 10.5m to 78m is strongly punctuated by post-mineralization intrusive bodies, with a thicker multiphase post-mineralization intrusive unit present from 78m to 176m. From 176m to 243m another sequence of breccias and post-mineralization intrusive units are present, below which a medium- to coarse-grained diorite is much less altered and only crosscut by thin bands of sulphide-bearing veining or brecciation. The hole was terminated at 314.2m.
The assay results from drill holes CSS002 to CSS004 will be reported in due course as they are received from the laboratory. Visual observations of drill core, including the presence, type, or abundance of visible sulphide mineralization, are preliminary in nature and should never be considered a proxy or substitute for laboratory analyses. The presence and exact grade of any potential economic mineralization remain unconfirmed until laboratory assay results have been received and verified.
Table 2. Collar details of the four holes in this program at Chirsposo Sur (Datum WGS84 SUTM19).
|
Hole ID |
East |
North |
Elevation |
Total Length |
Azimuth |
Dip |
|
CSS001 |
283140 |
6730266 |
516 |
329 |
270 |
-60 |
|
CSS002 |
283009 |
6729949 |
521 |
315.1 |
90 |
-60 |
|
CSS003 |
282760 |
6729480 |
536 |
282.7 |
90 |
-60 |
|
CSS004 |
283020 |
6729630 |
540 |
314.2 |
110 |
-65 |
Notes on sampling and assaying
Analytical samples were produced using ½ NQ core and sent to the Cotecna laboratory (“Cotecna”) in La Serena, Chile. Cotecna is independent of the Company. Preparation included crushing the core samples to 70% < 2.5mm and pulverizing 500g of crushed material to better than 95% < 105 microns. Samples reported herein were assayed using 30g nominal weight fire assay with AAS finish (Au-FA30) and a multi-element four acid digest ICP-OES method (OES-TD36). The QA/QC procedure for this drilling program utilizes field duplicates, standards and blanks that comprise approximately 10% of the total samples submitted.
Qualified Person
All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
About Tribeca Resources
Tribeca Resources is a portfolio-driven copper explorer focused on northern Chile. Led by a team with a track-record of discovery and significant equity ownership, Tribeca Resources’ objective is to discover the mineral resources for the next generation of copper mines in Chile.
Tribeca Resources’ flagship La Higuera IOCG Project is now 100%-owned and has seen approximately 10,000m of drilling with mineralization defined over a 1.4 kilometer strike length at the Gaby discovery. The project is located 60 kilometers north of the major port city of La Serena-Coquimbo in northern Chile, at 450m altitude with easy road access. The Chiricuto and Jiguata projects are earlier stage porphyry copper-gold-molybdenum targets, held under purchase option agreements. The Jiguata project now has defined drill targets.
On behalf of Tribeca Resources Corporation
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Paul Gow |
Thomas Schmidt |
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CEO and Director |
President and Director |
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admin@tribecaresources.com |
admin@tribecaresources.com |
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+1 604 685 9316 |
+1 604 685 9316 |
Cautionary Note
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This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
Forward Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the timing and results of assays; the evaluation and potential implementation of expanded drilling at La Higuera; the proposed testing of additional targets; interpretations regarding the continuity, scale and geological significance of the mineralized systems; the relationship between geophysical and geochemical survey results and potential mineralization, the relationship between a pyrite-dominant mineralized system and potential associated copper-gold mineralization, and the operations of the Company.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management, and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operating activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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