(MENAFN- GlobeNewsWire - Nasdaq)
TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) -- Nobel Resources Corp. (TSX–V: NBLC; OTC: NBTRF) (the“Company” or“Nobel”) has decided to withdraw from its option to acquire the Salvadora project (the“Project” or the“Property”) in Chile. According to Vern Arseneau, COO of Nobel,“The Company has reviewed all of the technical results to date. The Company intersected copper mineralization from all drill holes, which were located in two areas of the Property, including several intervals grading more than 1% copper. However, the mineralization did not demonstrate sufficient grade or continuity to support development of a commercial scale copper mining operation. The potential for a covered oxide zone associated with the sulphide copper mineralization was also evaluated by drilling, and the extent of the copper oxide mineralization was too limited for development. The Company is excited to pursue its recently acquired Pircas Verde Project, where potential for a larger deposit remains to be tested.”
The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Nobel Resources is focused on exploring for and developing copper projects in Chile, the premiere copper mining jurisdiction globally. The Company has a team with a strong background of exploration success in the region.
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