Tribeca Resources Corporation (TSXV: TRBC | OTCQB: TRRCF) has announced a new copper-gold discovery at the Chirsposo Sur target within its 100%-owned La Higuera IOCG Project in northern Chile. The first drill hole, CSS001, intersected 67 metres averaging 0.52% copper and 0.15 g/t gold from 71 metres depth, including a higher-grade interval of 29 metres at 0.91% copper and 0.26 g/t gold from 75 metres. The result marks the third consecutive copper-gold discovery across three targets drilled at La Higuera, a development investors in junior copper explorers may find significant.

Key Points

  • Tribeca Resources Corporation (TSXV: TRBC | OTCQB: TRRCF) is a Vancouver-based copper explorer focused on northern Chile
  • CSS001, the first hole at Chirsposo Sur, returned 67m at 0.52% Cu and 0.15 g/t Au from 71m depth, beneath 37m of gravel cover
  • All three La Higuera targets drilled to date — Gaby, Chirsposo, and Chirsposo Sur — have returned copper-gold mineralisation within a 4km corridor
  • Assay results for drill holes CSS002 through CSS004 remain pending; the company is evaluating an accelerated drilling ramp-up across the project

CSS001 Intersects Sulphide Breccia System Beneath Gravel Cover at Chirsposo Sur

The maiden hole at Chirsposo Sur encountered a zone of intense veining and brecciation beginning immediately below 37 metres of gravel overburden. The mineralisation, hosted within magnetite breccias and semi-massive chalcopyrite veins in a medium-to-coarse-grained diorite, spans a 67-metre downhole interval from 71 to 138 metres. The company notes the true thickness of the intersection remains unknown as the dip and strike of the mineralised body have not yet been constrained. A copper equivalent grade of 0.68% CuEq was reported for the full interval, rising to 1.16% CuEq within the higher-grade 29-metre sub-interval.

Chirsposo Sur Mineralisation Draws Geological Comparisons to the Gaby Discovery

The release states that the mineralogy, breccia association, texture, and paragenesis observed in CSS001 closely resemble those previously intersected at Tribeca's Gaby target, located 4 kilometres to the north. At Gaby, the company previously reported 268 metres at 0.66% copper and 0.14 g/t gold, including 90 metres at 1.02% copper. Both targets are interpreted to sit along a similar north-south fault corridor linked to the regional Atacama Fault System within Chile's Coastal IOCG Belt. The company characterises the alteration style at Chirsposo Sur as consistent with the Association 1 and Association 2 alteration events documented at Gaby.

Drill Program Expanded to Four Holes Across 1.2km Magnetite System

Encouraged by results from CSS001, Tribeca expanded the originally planned three-hole program by adding a fourth hole, CSS004, targeting the southernmost magnetic anomaly within the 1.2-kilometre-long magnetite alteration system. A total of 1,241 metres was drilled across the four holes. Geological observations for CSS002 through CSS004 have been disclosed, indicating continued veining and breccia development in CSS002, limited alteration in CSS003, and post-mineralisation intrusive interference in CSS004. Assay results for these three holes remain pending and will be reported when received from the Cotecna laboratory in La Serena, Chile.

La Higuera District Potential and Accelerated Exploration Under Review

With all three drilled targets at La Higuera returning copper-gold mineralisation within a 4-kilometre corridor, the company states it is evaluating an aggressive ramp-up in drilling to determine the size potential of each system and test two additional undrilled targets at Benja and Don Baucha. Tribeca now holds 100% ownership of the La Higuera concessions following the exercise of the Gaby option. The project sits 60 kilometres north of La Serena-Coquimbo at 450 metres altitude with road access. The immediate share price impact was not clear from available public information.