Drill Results From Initial Program At La Salvadora Copper Project
TORONTO - Nobel Resources Corp. has received assays for 10 drill holes from its initial diamond drill program on its recently acquired Salvadora copper project in Chile. Copper mineralization has been intersected in all drill holes, including significant intervals grading more than 1% copper. Drill holes are located within two areas of the Project. Mineralization in both areas remains open. Results obtained to date have confirmed the discovery of a significant copper sulfide mineralized zone west of outcropping copper oxide mineralization. The sulfide mineralization is less than 70m below surface on average and remains open to the north, south and west as well as at depth. The potential for a covered oxide zone associated with a newly identified sulfide zone at the southern target area remains to be tested with additional drilling along with delineation of the outcropping oxide zone at the northern target area.
Results to date include: SAL-001 intersected 12m grading 0.97% copper and 17m grading 0.69% copper within a 52m zone that graded 0.57 % copper; SAL-008 intersected 6m grading 1.17% copper within a 27m zone grading 0.68% copper; SAL-009 intersected 11m grading 1.1% copper within a 20.3 m grading 0.91% copper; SAL-016 intersected 6m grading 0.97% copper, 8m grading 1.24% copper, 15m grading 1.3% copper and 15m at bottom grading 0.36% copper within a 72 m wide oxidized mineralized breccia with certain of the sampled intervals still with pending assays; and SAL-006 intersected 10m grading 0.96% copper within a 20m zone grading 0.64% copper.
The initial drill program focused on: 1) Area of a reverse circulation hole (SLVA-RC-0002) which reported 72 meters grading 1.21% copper and 0.21 g/t gold. This area is wide open for expansion. 2) A southern area with a distinct magnetic anomaly approximately 1 kilometer to the south with only a single drill hole in it (SLVA-RC-0010) which intersected 20 meters grading 0.6% copper and 0.15g/t gold at shallow depths. 3) One drill hole, SAL-016, which was drilled into the outcropping oxide zone.
All the holes drilled to date by Nobel have intersected mineralization containing chalcocite, chalcopyrite as well as specularite, pyrite, magnetite hosted in hydrothermal breccias varying in core thickness from 30 meters to 73.4 meters. Three drill holes ended in mineralization (SAL-09, SAL-11 and SAL-13) however casing was left in these holes and they can be completed later. The widest intersection to date on the southern target area was in hole SAL-008. This hole intersected 53m of mineralized breccia from 144m to 197m. including 27m grading 0.68%Cu.
The first five drill holes targeted the depth and lateral extensions down dip from previously identified copper oxide mineralization at surface in the vicinity of historical RC drill hole SLVA-RC-0002. Following completion of the initial scout holes on this target, the drill was moved to the area of a distinct magnetic anomaly, where holes 6 to 15 and 17 are located. Hole 16 is located within the outcropping oxide zone and was drilled to confirm previously reported reverse circulation assay results.
Results obtained to date have confirmed the discovery of a significant buried mineralized sulfide zone west of the previously known outcropping oxide mineralization. The mineralization starts less than 70m below surface on average and remains open to the north, south and west as well as at depth. The potential for a hidden oxide zone associated with the new sulfide zone on the southern area remains to be tested with additional drilling.
David Gower, CEO, said, “These are excellent results from the initial scout drilling program for the Project. Copper mineralization at shallow depths occurs in two areas more than 1 km apart. Geological work by our field crews indicate that it is possible that the southern zone represents a fault offset to the west of the northern area and its possible mineralization may be continuous between the two areas. There is an extensive copper mineralized system here that extends for well over a kilometer.”