Tribeca Resources Announces Drilling Results at La Higuera Project

Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile.

Tribeca Resources has announced results from an additional four diamond drill holes of the Phase 2 drilling program at the Company’s La Higuera Project in the Coastal Iron Oxide Copper-Gold (IOCG) Belt of northern Chile. Drill holes GBY009, GBY011 and GBY012 all intersected thick intervals of copper-gold mineralization from immediately below the base of shallow gravel cover.

Highlights:

• Drill hole GBY012 intersected an interval of 30 metres at 0.58% copper, 0.14 g/t gold within 172m @ 0.23% copper, 0.05 g/t gold in IOCG-style mineralization from 70m downhole, approximately 10m below the base of gravel cover.
• Drill hole GBY011 intersected an interval of 22 metres at 0.56% copper, 0.11 g/t gold within 122m @ 0.21% copper, 0.04 g/t gold from the base of gravel cover at 74m down hole depth.
• Drill holes GBY009 and GBY010, drilled 150m to 230m south of GBY011, intersected zones of magnetite breccia, some of which host significant copper-gold mineralization.
• Two additional drill holes, GBY013 and GBY014, designed to test a 600m strike length beyond the northern end of the known 1km long mineralized Gaby copper-gold discovery, are currently being logged and sampled.
• Drilling continues with holes being drilled to separately test gravity and IP chargeability anomalies approximately 300m east of the main known mineralized trend

The four holes reported here were designed to test continuity of the currently known mineralized body within the existing 1km strike length and to determine the location and dip of the eastern margin of the mineralized system.

The assay results from the remaining holes in this planned 10-hole program of approximately 4,000 metres are planned to be released progressively as they are received, with drilling expected to continue until the end of February 2024.

Tribeca Resources CEO, Dr Paul Gow commented: “The first five holes reported from our Phase 2 drilling program have all intersected significant copper-gold mineralization. Three of the four holes reported here have strongly mineralized intersections of between 100m to 200m downhole thickness, consistent with our interpretation of a wide mineralized trend stretching over one kilometre of strike length.”

“Drill testing of several geophysical targets adjacent to the Gaby trend has commenced to test whether the mineralizing system is represented in more than one structural trend.”