TORONTO, June 17, 2021 (GLOBE NEWSWIRE) — Nobel29 Resources Corp. (TSX-V: NBLC; OTC: NBTRF) (the “Company” or “Nobel”) announces that it has commenced Induced Polarization (“IP”) surveys over the priority target areas indicated by the recently completed magnetometer survey (see news release June 11, 2021) at the Algarrobo project in Chile (Figure 1) (the “Project” or the “Algarrobo Project”). The planned survey contemplates doing pole–dipole arrays over the larger target areas indicated by the magnetic survey and gradient array in the areas of the mineralized trends where the higher grade veins are known to occur and sand cover is demonstrated to be relatively thin (Figure 2).
The contract for the survey was awarded to Argali Geofisica EIRL, a highly experienced geophysical contractor in the Chilean copper environments. Approximately 80 line-kilometers of IP surveying has been laid out which should be completed in approximately 6 weeks. High priority areas should be completed in approximately 3-4 weeks. It is expected that final assays from the drill campaign will be received in that period and the magnetic, IP and reconnaissance drilling along with trenching and geological mapping can be integrated prior to commencing the main phase of diamond and RC drilling.
According to Vernon Arseneau, P.Geo., COO of Nobel, “Although 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, the Project is unusual in that there is limited basic geological mapping, geophysical data or documentation of the geological controls on the mineralization given the long history of mine development. The reconnaissance drilling by the Company integrated with the new magnetic and IP data bases and basic geological and structural mapping will provide a powerful base from which to effectively explore the Project.”
IP Survey Details
The larger targets will be surveyed with the pole-dipole array and a dipole spacing of 100m or more to obtain significant depth penetration of 400m or more. Sand dunes (mostly in the western part of the grid) may present problems for the pole-dipole array which requires many regularly spaced current electrodes along the line. If current cannot be transmitted in the sand areas, then the gradient array will be tested to see if chargeability can be acquired in the sand dune areas. Test lines will be run in dune areas and results will be reviewed during the trials, and a decision will be made on the optimum configuration prior to finalizing the survey parameters. The gradient array with short dipole spacings on the order of 20m will be tested over areas that host vein mineralization. If results warrant, the gradient survey will be extended. In the gradient array areas line spacing will be approximately 100 meters, over the larger targets in the pole-dipole coverage areas it is anticipated lines will be approximately 400 meters apart.
Figure 1: Location of the Algarrobo IOCG Project
Figure 2: Planned Induced Polarization (IP) survey coverage over priority areas, Algarrobo project
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Nobel29 Resources Corp.
The scientific and technical information in this news release has been reviewed and approved by Mr. Vernon Arseneau, P.Geo, and Mr. David Gower P.Geo., Qualified Persons as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the mineralization of the Project, the prospectivity of the Project, the Company’s exploration program and the results thereof, the Company’s drill program and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward- looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel29, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel29 has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel29 does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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Location of the Algarrobo IOCG Project
Planned Induced Polarization (IP) survey coverage over priority areas, Algarrobo project