Nobel Withdraws From Option to Acquire La Salvadora Copper Project in Chile
November 24 2022 - 7:00AM
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.”
Qualified Person
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.
About Nobel
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.
For further information, please
contact:Vincent ChenInvestor
Relationsvchen@nobel-resources.comwww.nobel-resources.com
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, regarding the prospectivity of the Project, the
mineralization of the Project, the Company’s ability to explore and
develop the Pircas Verde project 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 Nobel, 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 Nobel 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. Nobel does not undertake
to update any forward-looking information, except in accordance
with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION
SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
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