OCTOBER 29, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce that it has received results from a recently completed geological mapping program and gradient array IP (Induced Polarization) and MT (Magneto-telluric) geophysical survey at the Chiricuto IOCG project in northern Chile.
“These new geological mapping and geophysical datasets provide multiple supporting indicators for a strong drill target in this proven copper district. The observed alteration is typical of IOCG environments, and the size of the geophysical anomaly is substantial. We look forward to refining the drill targets through soil geochemistry and commencing our maiden drill program in early 2025.”
A geological mapping program has been completed at 1:5,000-scale over the project area (Figure 1). The dominant host rocks comprise andesite and porphyritic andesite, interpreted as part of the La Negra Formation. This is the same host unit as the significant Mantoverde deposit approximately 15km to the west. Alteration is present in the northern portion of the area (Figure 2) and comprises:
i) two extensive zones of chlorite-epidote alteration of andesite, locally with associated NNW-trending felsic dikes. These zones span approximately 500m x 400m and 400m x 150m.
ii) a sector with a predominance of calcite veins that have a preferential north-south orientation, within a broader calcite zone elongated in the east-west direction, which is coincident with part of the ground magnetic anomaly.
iii) a hydrothermal alteration zone oriented in a north-south to northeast direction, extending 400m in length and 150m in width, and is characterized by intense silicification, moderate leaching±hematite+limonite, and the scarce presence of disseminated specularite corresponding to a white to reddish fine-grained rock, with sporadic quartz-clay veinlets in fractures (kaolinite) and possible alunite in veinlets.
The objective of the geophysical surveying was to map any anomalous chargeable or low resistivity zones within the project area, either under the gravels or in exposed areas. Several lines of historic IP had indicated significant chargeability anomalism throughout the area, although the north-south orientation of the lines had not allowed for any understanding of the geometry of these zones. The survey utilized a gradient array IP method, with concurrent MT data acquisition. East-west lines were completed with a 400m line spacing. The results indicate a broad area, approximately 1.2km length by 400m width, of north-south-trending chargeability anomalism to the north of the principal magnetic anomaly in the area.
A soil sampling program is underway over outcropping areas within the broad chargeable zone, in order to refine and prioritize drill targets. A drill program of approximately 1,500 meters of diamond drilling is being prepared. The drilling program is fully funded following the Company’s latest financing, completed in July and August of this year.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean Coastal IOCG Belt.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
The information in this release has been compiled by Dr. Paul Gow, Director and CEO of Tribeca Resources, based on the review of the information from historical work programs. Dr. Gow is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and a qualified person for the purposes of NI 43-101. Dr. Gow has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person for the purposes of NI 43-101.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.#
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the relationship between geophysical survey results and potential mineralization, the size and timing of the proposed maiden drill program which shall commence in early 2025, and the operations of the Company.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of the Company to satisfy the closing conditions and obtain regulatory approval for the Private Placement, new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
AUGUST 9, 2024 | VANCOUVER, BC
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”), further to the news release of July 26, 2024, is pleased to announce that it has it has now closed the second and final tranche (the “Final Tranche”) of a non-brokered private placement (the “Private Placement”). Together with the first tranche, Tribeca Resources raised gross proceeds of C$1,285,000.
In connection with the Final Tranche, the Company raised gross proceeds of C$219,627 via the sale of 732,090 common shares of the Company ("Common Shares") at a price of C$0.30 per Common Share.
The proceeds of the Private Placement will predominantly be used to fund:
Tribeca Resources CEO, Dr Paul Gow commented:
“This additional capital will ensure we are well financed to advance and drill test the significant geophysical anomaly at the recently acquired Chiricuto project. The high calibre of investors we have attracted reflects the exciting exploration potential at the Chiricuto project and our team’s proven track-record at the La Higuera copper-gold project.”
No finder’s fees were paid in connection with the Final Tranche of the Private Placement. In connection with closing of the first tranche, the Company paid C$7,500 to Tamesis Partners LLP and C$7,200 to Leede Jones Gable Inc. in consideration for introducing certain subscribers to the Private Placement.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day. Closing of the Private Placement is subject to receipt of all necessary regulatory approvals and final acceptance of the TSX Venture Exchange.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean Coastal IOCG Belt.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the use of proceeds of the Private Placement, the operations of the Company, the drilling programs, that the Company’s results have or will attract potential investors and approval of the TSXV and any other regulatory bodies.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of the Company to satisfy the closing conditions and obtain regulatory approval for the Private Placement, new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”), further to the news release of June 13, 2024, is pleased to announce that it has completed closing of an initial tranche (the “Initial Tranche”) of the non-brokered private placement (the "Private Placement") of up to 6,666,667 common shares of the Company ("Common Share") at a price of $0.30 per Common Share (the "Purchase Price") for gross proceeds of up to $2 million.
In connection with the Initial Tranche, the Company has issued an aggregate of 3,551,243 Common Shares for gross proceeds of $1,065,372.90 representing approximately 5.71% of the Common Shares currently issued and outstanding on a non-diluted basis prior to the closing of the Initial Tranche. The Company anticipates issuing an additional 670,000 Common Shares for additional gross proceeds of $201,000 in the next tranche, together with additional subscribers.
In connection with closing of the Initial Tranche, the Company paid $7,500 to Tamesis Partners LLP in consideration for introducing certain subscribers to the Private Placement.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day.
The subscription of three insiders of the Company in the Private Placement accounted for $79,500 or approximately 7.46% of the total gross proceeds. Participation by such insiders is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Section 5.5(b) and 5.7(1)(b) of MI 61-101.
Tribeca Resources is also pleased to announce that it has reached an agreement (the “Extension Agreement”) with the owners (the “Vendors”) of the Gaby-Totito property located in the Coquimbo province of Chile (the “Property”) to extend the purchase option agreement entered into between the Company and the Vendors on March 15, 2019, as amended, restated, supplemented or otherwise modified (the “Purchase Option Agreement”), under which the Company has the option to purchase a 100% interest in the Property (the “Purchase Option”).
Under the new Extension Agreement, the deadline of the final purchase payment due to the Vendors under the Purchase Option Agreement has been extended for a period of 18 month months (the “Extension”) to 15 September 2026 in consideration of the Company paying the Vendors US$130,000, making a US$50,000 advance payment on the final purchase payment upon execution of the Extension Agreement; and agreeing to make a 10% partial payment of the final purchase payment on the previous Purchase Option expiry date, being 15 March 2025.
The revised acquisition timetable significantly reduces the Company’s funding requirements in 2025 and provides Tribeca with additional time to focus on growing the Gaby discovery.
The payment terms in the Purchase Option Agreement have been amended such that the remaining payments due, in order to exercise the Purchase Option, are as follows:
Payment deadline |
New payment schedule |
Prior payment schedule |
On signing of extension (July 2024) | US$130,000 one-payment (paid) US$50,000 prepayment (paid) |
N/A |
Before March 2025 | US$200,000 | US$1,800,000 |
Before September 2026 | US$1,550,000 | N/A |
Further, during the Extension, the frequency of the Exploration Levy Payments will change from annual to semi-annually. Cumulative Exploration Levy Payments will remain capped at US$500,000.
For further details on the Purchase Option Agreement, please refer to the Company’s 24 October 2022 Filing Statement with respect to the reverse takeover between Tribeca Resources Ltd and Hansa Resources Limited, located on SEDAR+.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean Coastal IOCG Belt.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the ability of the Company to close the Private Placement on the timing and terms described herein, or at all, the use of proceeds of the Private Placement, the operations of the Company, the drilling programs, payment of the Exploration Levy Payments, that the Company’s results have or will attract potential investors and approval of the TSXV and any other regulatory bodies.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of the Company to satisfy the closing conditions and obtain regulatory approval for the Private Placement, the ability of the Company to make the Exploration Levy Payments, new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
JUNE 13, 2024 | VANCOUVER, BC
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce its intention to complete a non-brokered private placement pursuant to which it will issue up to 6,666,667 common shares ("Shares") at a price of C$0.30 per Share for aggregate gross proceeds of up to C$2,000,000 (the “Private Placement”).
The proceeds of the Private Placement will predominantly be used to fund:
The Company has received indications of interest from a small group of sophisticated European and North American investors, for a significant proportion of the Shares to be issued.
Tribeca Resources CEO, Dr Paul Gow commented:
“This additional capital, underpinned by indications of interest from three long-term shareholders and one new investor, will ensure we are well financed to advance and drill test the significant geophysical anomaly at the recently acquired Chiricuto project. The high calibre of investors we have attracted reflects the exciting exploration potential at the Chiricuto project and our team’s proven track-record at the La Higuera copper-gold project.”
In connection with the Private Placement, the Company will pay a finder's fee comprised of 6% in cash or Shares to eligible finders in accordance with applicable securities laws and the policies of the TSXV. Closing of the Private Placement is expected to occur on or about July 3, 2024 and is subject to customary closing conditions, including receipt of all regulatory approvals, including the approval of the TSXV.
All securities issued pursuant to the Private Placement, including the Shares issued in consideration for services rendered in connection with introducing the Company to investors, will be subject to a statutory hold period of four months and one day.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the La Higuera Project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022. Further, Tribeca holds an option to acquire a 100% interest in the Chiricuto Property. Chiricuto hosts a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district, located in the Atacama Region within the Chilean Coastal IOCG Belt.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the ability of the Company to close the Private Placement on the timing and terms described herein, or at all, the use of proceeds of the Private Placement, the operations of the Company, the drilling programs, that the Company’s results have or will attract potential investors and approval of the TSXV and any other regulatory bodies.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
23 MAY, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) announces the granting of stock options to directors and officers of the Company for the purchase of up to 3,050,000 common shares of the Company, at a price of $0.37 per share, for a period of 5 years. The options shall vest annually in equal thirds beginning on the first anniversary of the date of grant. In addition, pursuant to the Long-term Incentive Plan adopted by the Company in October 2022, the Company granted 130,000 deferred share units (“DSU”) to its independent directors.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca Resources’ flagship property is the La Higuera Project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca Resources on SEDAR on 24 October 2022.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the future plans and objectives of the Company, including exploration projects.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others,: the ability of the Company to obtain TSX Venture Exchange approval of the Agreement, the ability of the Company to pay the purchase price as well as any other payments required by the Agreement, risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management, and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
27 MARCH, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce it has entered into a purchase option agreement (“the Agreement”) with two groups of private owners (the “Project Vendors”) to acquire a 100% interest in a 570 hectare property located in the established Mantoverde district of the Chilean Coastal Belt, 15 km and 21 km from Capstone Copper Corporation’s (“Capstone Copper”) Mantoverde mine and Santo Domingo project, respectively (Figure 1) (the “Chiricuto Property”). Further, final assays from Phase 2 drilling at the Company’s cornerstone La Higuera Project, which has delivered a 40% increase to the size of the Gaby mineralised system, are reported.
Tribeca Resources CEO, Dr. Paul Gow commented:
“Hosting a strong untested IOCG target under shallow cover, the Chiricuto Property represents exactly the type of opportunity that Tribeca Resources is well positioned to advance. The chance to test – and potentially acquire a 100% stake in – an undrilled geophysical target in the emerging copper producing Mantoverde district, is the type of opportunity that Tribeca Resources was founded to capitalise on. With this announcement, Tribeca Resources has demonstrated its ability to structure a property acquisition that will ensure funding is directed towards on-ground activities, and ultimately discovery, which benefits Tribeca Resources’ shareholders, the Project Vendors and other stakeholders.”
“In addition to this exciting portfolio addition, we are pleased to report completion of the Phase 2 drill program at the flagship La Higuera Project. The drill program provided a 40% increase in the potential size of the mineralised system at the Gaby discovery, representing an important milestone towards building a portfolio of copper properties that aims to attract the producers, once M&A-driven growth strategies return.”
Highlights
The Chiricuto Property is located within the andesite-dominated lower unit of the Middle-Upper Jurassic La Negra Formation, which is the same rock unit that hosts Capstone Copper’s Mantoverde deposit (>1 Billion tonnes of oxide and sulphide copper resource, Capstone Copper MRE dated 31 December 2022 - Measured and Indicated categories) 15 km to the west of the Chiricuto Property. The rocks are located in the hanging-wall to a major east-vergent thrust, parallel to, but located between, the regional Atacama and Chivato Fault Systems. Previous mapping in the project area has identified magnetite-scapolite±quartz±chlorite±hematite alteration within the andesites. Other deposits within the La Negra Formation in this area include the Palmira combined oxide-sulphide copper deposit, which is reported to host chalcopyrite-rich hematite-cemented breccias and veins, and the Pirula deposit, both located within 1.5 km of the Chiricuto Property.
Much of the Chiricuto Property area is located under interpreted thin alluvial or colluvial gravel cover, however outcrop is locally present and hosts several small copper or iron workings and pits. Ground magnetic data has been collected over the area (Figure 2) that suggests the magnetite alteration is widespread, with high intensity anomalies up to 3000nT. Two reconnaissance lines of pole-dipole Induced Polarization (IP) have been surveyed and show high chargeability zones above 20 mV/V.
Tribeca Resources has, in large part due to our local networks and a growing reputation as a dynamic IOCG-focused copper explorer in the Chilean Coastal IOCG Belt, positioned itself as a partner of choice for the Project Vendors.
Tribeca Resources plans to undertake mapping, surface sampling and additional geophysics prior to proceeding with drilling at the Chiricuto Property.
The key terms under which Tribeca Resources has the right, but not the obligation, to acquire a 100% interest in the Chiricuto Property (the "Purchase Option”) are as follows:
With the exception of the initial cash payment of US$20,000 to the Project Vendors and the reimbursement of past concession fees, the foregoing exploration expenditures, payments and work commitments are optional; Tribeca Resources will not be obliged to make any payments, complete any work or deliver the MRE should it elect not to execute the Purchase Option.
Tribeca Resources will be the operator of the project. The Agreement is subject to approval of the TSX Venture Exchange.
Final assay results from Phase 2 drilling at the Gaby target have now been received and are reported below. Drill holes GBY015 and GBY016 were sited to test two geophysical anomalies (gravity and IP, respectively) to the east of the main trend, and GBY017 was sited within a 400m undrilled gap in the main north-south trend.
Table 1. Summary of significant mineralized intersections in drill hole GBY015.
HoleID | From (m) | To (m) | Downhole Interval (m) |
Cu (%) |
Au (g/t) |
Co (ppm) | CuEq (%) |
GBY015 | 20 | 34 | 14 | 0.27 | 0.07 | 75 | 0.30 |
GBY015 | 96 | 118 | 22 | 0.24 | 0.06 | 59 | 0.27 |
Note: The grade intersections are calculated over intervals >0.20% Cu with maximum internal dilution of 10m @ 0.05% Cu and a minimum interval width of 10m. CuEq (%) grades have been calculated using recoveries from metallurgical test work undertaken in 2006 on drill core from the Project, which are 90% for copper, 65% for gold and 50% for cobalt. Metal prices utilised were US$3.50/lb copper, US$1,900/oz gold and US$15.88/lb cobalt.
Drill hole GBY015 intersected intervals of copper-gold mineralisation from 20m and 96m downhole depth (Table 1). The cover thickness in this location, which is approximately 200m east of the main trend, is 14m downhole depth. The mineralization is dominantly associated with magnetite breccias in andesite, but some late cross-cutting hematite-chalcopyrite veins are also present.
Drill hole GBY016 and GBY017 intersected pyrite alteration and local zones of 0.1-0.5% copper, but no significant copper intersections greater than 10m width. The magnetic signature is lower in the zone of the north-south trend where these holes are located (Section 5000N – Figure 3) reinforcing the importance of the magnetic data in targeting higher grade mineralization.
GBY015 to GBY017 are the final holes from the Phase 2 drill program, which comprised 10 holes for 3,806m. With the completion of this program the mineralization at Gaby has now been intersected in most holes over a strike length of approximately 1.4 km, with significant thicknesses of mineralization ranging from 0.18% - 0.66% copper plus significant gold, cobalt and iron.
The logging, assay and other data from the Phase 2 program is now being integrated with previous drilling, geological and geophysical information to update the geological model at the Gaby target. Together with work on additional targets from the La Higuera Project, this is being utilised to plan the next phase of drilling.
The drill hole collar information from both the Phase 1 and Phase 2 drill programs is included in Appendix A.
All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of NI 43-101. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera Property and the Chiricuto Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera Property and the Chiricuto Property.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca Resources’ flagship property is the La Higuera Project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca Resources on SEDAR on 24 October 2022.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the Agreement and the Company’s Purchase Option in the Chiricuto Property, the ability of the Company to develop and define suitable drill targets at the Chiricuto Property, the relationship between geophysical survey results and potential mineralization, the ability of the Company to raise appropriate funding to complete the work program at the Chiricuto Property and other future plans and objectives of the Company, including exploration projects.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others,: the ability of the Company to obtain TSX Venture Exchange approval of the Agreement, the ability of the Company to pay the purchase price as well as any other payments required by the Agreement, risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management, and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Details of the drill collars from the Phase 1 and Phase 2 drill programs at the Gaby target. Collar coordinates provided using datum/projection WGS84 Zone 19S.
HoleID | Easting | Northing | Elevation | Azimuth | Dip | Total Depth |
GBY001 | 284047 | 6734267 | 454 | 267.3 | -60 | 376.80 |
GBY002 | 284198 | 6734216 | 458 | 232.3 | -60 | 348.00 |
GBY003 | 284182 | 6734239 | 458 | 267.3 | -60 | 291.05 |
GBY004 | 284028 | 6734164 | 453 | 267.3 | -60 | 202.70 |
GBY005 | 283802 | 6734200 | 446 | 87.3 | -60 | 408.95 |
GBY006 | 283803 | 6734528 | 446 | 87.3 | -60 | 262.70 |
GBY007 | 283805 | 6734799 | 441 | 87.3 | -60 | 365.85 |
GBY008 | 284099 | 6734267 | 456 | 267.3 | -60 | 445.50 |
GBY009 | 283804 | 6734397 | 446 | 87.3 | -60 | 401.75 |
GBY010 | 283848 | 6734282 | 448 | 87.3 | -60 | 401.75 |
GBY011 | 283856 | 6734518 | 447 | 87.3 | -61 | 401.75 |
GBY012 | 283855 | 6734797 | 442 | 87.3 | -60 | 401.75 |
GBY013 | 284000 | 6735177 | 437 | 267.3 | -60 | 462.70 |
GBY014 | 283899 | 6735371 | 431 | 267.3 | -60 | 218.65 |
GBY015 | 284140 | 6734833 | 447 | 97.3 | -60 | 287.65 |
GBY016 | 284159 | 6735017 | 445 | 267.3 | -65 | 383.65 |
GBY017 | 284011 | 6735002 | 439 | 267.3 | -60 | 401.75 |
28 FEBRUARY, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce the extension of the mineralized system at the Company’s La Higuera Project (“the Project”) in the Coastal Iron Oxide Copper-Gold (IOCG) Belt of northern Chile. Drill hole GBY013, which intersected broad mineralization over 105 meters downhole depth, has added approximately 400 meters strike length to what is now a 1,400 metre long system at the Gaby discovery.
Highlights:
The two holes reported here were designed to test continuity of the currently known mineralized system to the north of its existing 1km strike length.
Drilling for this Phase 2 program has now concluded, with 10 drill holes completed for a total of 3,806 meters. Assay results are awaited from the final three holes.
Tribeca Resources CEO, Dr Paul Gow commented:
“With these latest results we have significantly grown what is now a meaningful shallowly covered copper-gold system in a great location and jurisdiction, near abundant existing infrastructure and located only 10 kilometers from the coast.”
“The data from this drill phase has added a further approximately 40% to the strike length of the known system. It is currently being integrated with existing datasets in order to clearly understand the controls on mineralization and plan for further drilling at this emerging discovery.”
Table 1. Summary of significant mineralized intersections in drill hole GBY013.
HoleID | From (m) | To (m) | Downhole Interval (m) |
Cu (%) |
Au (g/t) |
Co (ppm) | CuEq (%) |
GBY013 | 331 | 436 | 105 | 0.18 | 0.04 | 97 | 0.20 |
incl. | 331 | 346 | 15 | 0.24 | 0.06 | 97 | 0.27 |
incl. | 386 | 402 | 16 | 0.24 | 0.04 | 122 | 0.27 |
incl. | 403 | 422 | 19 | 0.23 | 0.06 | 153 | 0.27 |
Note: Apart from the summary intersections in GBY013 (331-436m), the grade intersections are calculated over intervals >0.20% Cu with maximum internal dilution of 10m @ 0.05% Cu and a minimum interval width of 10m. CuEq (%) grades have been calculated using recoveries from metallurgical test work undertaken in 2006 on drill core from the Project, which are 90% for copper, 65% for gold and 50% for cobalt. Metal prices utilised were US$3.50/lb copper, US$1,900/oz gold and US$15.88/lb cobalt.
Drill hole GBY013 comprised a 375 metre step-out to the north (Figure 1) from drill holes GBY007 (264m @ 0.31% copper, 0.06 g/t Au) and GBY012 (172m @ 0.23% copper, 0.05 g/t gold). Drill hole GBY013 penetrated 56m of gravel before hitting moderately-altered andesites. The drill hole intersected a strong magnetite alteration system, including magnetic breccias, with a significant mineralized section from 331m to 436m downhole depth. The intersection yielded 105m @ 0.18% copper, 0.04 g/t gold in a chalcopyrite-pyrite-magnetite-amphibole-quartz-scapolite assemblage. The mineralization is dominantly hosted in vein networks, with the higher grades (the maximum individual 1 metre assay returned 1.2% copper) associated with zones of magnetite breccia.
Drill hole GBY014 was a further 200m step-out to the north from hole GBY013 (Figure 1). GBY014 penetrated 67m of gravel followed by weakly altered andesite. The hole did not intersect significant mineralization, with a maximum 2m interval of 0.18% copper.
The intersection of magnetite breccia-related copper-gold mineralization in GBY013 means that this structurally-controlled alteration and breccia system, with attendant mineralization, has been intersected over approximately 1,400m of north-south strike length. The additional drill data suggests the broad envelope to the mineralized breccia system is trending to approximately 350° (Figure 1). Alteration was present in GBY014, but weaker than seen elsewhere in other holes drilled into the system, suggesting the system has weakened or potentially been displaced laterally or vertically.
The 60° dip of the drillholes and the interpreted vertical orientation of the mineralized body suggest true thicknesses will be approximately 50% of the downhole thickness.
Analytical samples were produced using ½ HQ core and sent to ALS Lab in La Serena, Chile for preparation and then to ALS Labs in Santiago, Chile and Lima, Peru for analysis. Preparation included crushing the core samples to 70% < 2mm and pulverizing 1000g of crushed material to better than 85% < 75 microns. All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-AA23) and a multi-element four acid digest ICP-AES method (ME-ICP61). Where the ME-ICP61 results were greater than 10,000 ppm Cu the assays were repeated with ore grade four acid digest method (Cu-OG62). The QA/QC procedure for this drilling program utilizes field duplicates, standards and blanks that comprise approximately 10% of the total samples submitted. The QAQC results indicate good accuracy and precision in the assaying program.
All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of NI 43-101. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera IOCG Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera IOCG Property.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the drilling program and its proposed length and timing, the ability of the Company to develop and define a suitable resource at the Project and the relationship between geophysical survey results and potential mineralization.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Project.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
6 FEBRUARY, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce results from an additional four diamond drill holes of the Phase 2 drilling program at the Company’s La Higuera Project (“the Project”) in the Coastal Iron Oxide Copper-Gold (IOCG) Belt of northern Chile. Drill holes GBY009, GBY011 and GBY012 all intersected thick intervals of copper-gold mineralization from immediately below the base of shallow gravel cover.
Highlights:
The four holes reported here were designed to test continuity of the currently known mineralized body within the existing 1km strike length and to determine the location and dip of the eastern margin of the mineralized system.
The assay results from the remaining holes in this planned 10-hole program of approximately 4,000 metres are planned to be released progressively as they are received, with drilling expected to continue until the end of February 2024.
Tribeca Resources CEO, Dr Paul Gow commented:
“The first five holes reported from our Phase 2 drilling program have all intersected significant copper-gold mineralization. Three of the four holes reported here have strongly mineralized intersections of between 100m to 200m downhole thickness, consistent with our interpretation of a wide mineralized trend stretching over one kilometre of strike length.”
“Drill testing of several geophysical targets adjacent to the Gaby trend has commenced to test whether the mineralizing system is represented in more than one structural trend.”
Table 1. Summary of significant mineralized intersections in drill holes GBY009 to GBY012.
HoleID | From (m) | To (m) | Downhole Interval (m) |
Cu (%) |
Au (g/t) |
Co (ppm) | CuEq (%) |
GBY012 | 70 | 242 | 172 | 0.23 | 0.05 | 211 | 0.28 |
incl. | 98 | 118 | 20 | 0.23 | 0.04 | 184 | 0.27 |
incl. | 172 | 189 | 17 | 0.26 | 0.05 | 176 | 0.30 |
incl. | 191 | 221 | 30 | 0.58 | 0.14 | 358 | 0.68 |
GBY011 | 74 | 196 | 122 | 0.21 | 0.04 | 159 | 0.25 |
incl. | 126 | 148 | 22 | 0.56 | 0.11 | 356 | 0.64 |
incl. | 262 | 272 | 10 | 0.71 | 0.23 | 103 | 0.78 |
GBY010 | 140 | 162 | 22 | 0.21 | 0.05 | 333 | 0.30 |
GBY009 | 64.9 | 238 | 173.1 | 0.14 | 0.03 | 158 | 0.18 |
incl. | 82 | 102 | 20 | 0.27 | 0.08 | 132 | 0.31 |
incl. | 208 | 238 | 30 | 0.29 | 0.05 | 272 | 0.35 |
Note: Apart from the summary intersections in GBY009, GBY011 and GBY012, the grade intersections are calculated over intervals >0.20% Cu with maximum internal dilution of 10m @ 0.05% Cu and a minimum interval width of 10m. CuEq (%) grades have been calculated using recoveries from metallurgical test work undertaken in 2006 on drill core from the Project, which are 90% for copper, 65% for gold and 50% for cobalt. Metal prices utilised were US$3.50/lb copper, US$1,900/oz gold and US$15.88/lb cobalt.
Drill hole GBY009 comprised a 130 m northern step-out on section 4400N (Figure 1) from the high-grade intersection in GBY001 (268m @ 0.66% Cu, 0.14 g/t Au). GBY009 intersected magnetite breccias of variable thickness from 1m to 10m, within strongly altered andesitic host rocks. Copper mineralization is related to both the magnetite breccias and later hematite-chalcopyrite veins. Mineralization was present from the base of the gravel cover at 65m downhole depth, returning a down hole interval of 173.1m @ 0.14% Cu.
Drill hole GBY010 was designed as a scissor-hole from the west on section 4270N to better constrain the geometry of the strong mineralization encountered in drillholes GBY001 and GBY008. The hole intersected several magnetite breccias, with one, between 146-162m, hosting mineralization (22m @ 0.21% Cu, 0.05 g/t Au).
Drill holes GBY011 and GBY012 were designed as 50m step-out holes east of holes GBY006 and GBY007, respectively (Figure 2). The two sections are 280m apart along strike, with both holes intersecting significant widths of copper-gold mineralization (122m @ 0.21% Cu and 172m @ 0.23% Cu, respectively). The objective of the holes was to provide constraints on the location of the eastern margin of the main mineralized north-south body. Both holes penetrated the eastern margin of the body, terminating in altered but barren andesitic host rocks. Notably, GBY011 intersected a zone of late coarse-grained magnetite-chalcopyrite veins approximately 30m east of the main mineralized body, which returned 10m @ 0.71% Cu, 0.23 g/t Au. This indicates mineralization is not restricted to the 100m to 130m wide interpreted vertical zone that has been the focus of drilling to date (Figure 2).
As evident from previous drilling at the project, and within the Chilean Coastal IOCG Belt in general, the copper-gold mineralization reported here is also strongly anomalous in cobalt. The 60° dip of the drillholes and the interpreted vertical orientation of the mineralized body suggest true thicknesses will be approximately 50% of the downhole thickness.
Analytical samples were produced using ½ HQ core and sent to ALS Lab in La Serena, Chile for preparation and then to ALS Labs in Santiago, Chile and Lima, Peru for analysis. Preparation included crushing the core samples to 70% < 2mm and pulverizing 1000g of crushed material to better than 85% < 75 microns. All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-AA23) and a multi-element four acid digest ICP-AES method (ME-ICP61). Where the ME-ICP61 results were greater than 10,000 ppm Cu the assays were repeated with ore grade four acid digest method (Cu-OG62). The QA/QC procedure for this drilling program utilizes field duplicates, standards and blanks that comprise approximately 10% of the total samples submitted. The QAQC results indicate good accuracy and precision in the assaying program.
All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of NI 43-101. Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera IOCG Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera IOCG Property.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the drilling program and its proposed length and timing, the ability of the Company to develop and define a suitable resource at the Project and the relationship between geophysical survey results and potential mineralization.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Project.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
11 JANUARY, 2024 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce it has been selected by the PDAC 2024 technical committee to display drill core from its La Higuera copper-gold project in Chile. The Core Shack at the PDAC Convention provides a unique venue at the world’s premier mining convention where 40 selected mineral exploration companies display core from new or ongoing projects that are generating exciting drill results. Recent discoveries from around the world are featured along with maps, charts and technical information.
Tribeca Resources has been selected thanks to the recent encouraging exploration and drilling results obtained from the Gaby copper-gold discovery at its La Higuera project in the Coquimbo region of Chile. Exploration drilling is currently underway, with a planned 4,000 metre diamond drill programme advancing well and expected to continue until March 2024.
“Being one of the chosen companies who will exhibit in the Core Shack area is a mark of quality and shows the interest in Tribeca’s recent Gaby discovery”, commented Dr. Paul Gow, Tribeca Resources CEO.
To learn more about Tribeca Resources’ exciting new copper-gold discovery at the La Higuera Project, we invite you to visit the team at the PDAC Core Shack, Booth # 3115A in the Investors Exchange, Level 800, at the Metro Toronto Convention Centre, South Building on Sunday March 3rd and Monday March 4th from 10am to 5:00 pm.
Information on Tribeca Resources and the La Higuera Project is contained in the latest company presentation, a copy of which is available on the company’s website at http://tribecaresources.com/investors/presentation.
PDAC 2024: The World’s Premier Mineral Exploration & Mining Convention is the leading event for people, companies and organizations connected to mineral exploration. This annual convention in Toronto, Canada is known for attracting up to 30,000 attendees from over 130+ countries for its educational programming, networking events, outstanding business opportunities.
Since it began in 1932, the PDAC Convention has grown in size, stature and influence. Today, it is the event of choice for the world’s mineral industry hosting more than 1,100 exhibitors and 2,500 investors. Visit PDAC’s website for registration and ticketing information.
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022.
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Cautionary Note
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the operations of the Company and that the Company’s results or potential results have or will attract potential investors.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Project.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
15 DECEMBER, 2023 | VANCOUVER, BC
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”; the “Company”) is pleased to announce the voting results from its Annual and Special Meeting of shareholders (the "Meeting") held on December 12, 2023. Shareholders holding 33,169,550 shares or 53.29% of the outstanding shares of the Company were represented in person or by proxy at the Meeting and voted in favour of all matters brought before the Meeting.
The Company’s shareholders set the number of directors of the Company for the ensuing year at five. All director nominees set out in the Management Information Circular dated November 6, 2023 (the "Circular"), were elected as directors, to serve until the next meeting of shareholders of the Company or until their successors are elected or appointed.
The company is pleased to welcome Derrick Weyrauch as a director of the Company, effective December 12, 2023
Mr. Weyrauch is a CPA CA and an experienced mining executive and corporate director. His experience includes finance, M&A, risk management, corporate restructuring and turnarounds. He currently holds, and has previously held, directorships and executive management roles with a number of public companies spanning exploration, development and operating mining companies.
Mr. Weyrauch is currently the CEO & Director of Palladium One Mining Inc. and is a non-executive director of Nortec Minerals Corp.
Tribeca CEO, Dr. Paul Gow commented:
“We are happy to welcome Derrick Weyrauch to the Board of Directors. Mr Weyrauch has extensive experience in the mining industry, including in Latin America. His experience building companies, serving as a director of multiple companies at different stages and attracting project funding from producers and private equity firms, will be a real asset to Tribeca Resources.”
Mr. Weyrauch is a co-founder and former director of Magna Mining Corp. and is a former corporate director of a number of companies including Cabral Gold Inc, Eco Oro Minerals Corp., Jaguar Mining Inc. and Banro Corp. He is also former CFO of Jaguar Mining Inc. and Andina Minerals Inc. Mr. Weyrauch obtained his CPA CA designation with KPMG LLP and is a member of CPA Canada and the Institute of Corporate Directors. He holds an Honours B.A. in Economics from York University.
The Company also announces that its board of directors has approved the grant of 125,000 incentive stock options to its newly elected board member Mr. Weyrauch pursuant to the Company's Stock Option Plan. These stock options will vest in equal one third portions 12 months, 24 months and 36 months after the date of initial grant and be exercisable to purchase one common share in the capital of the Company for a period of five (5) years from the date of grant, at a price of $0.26 per share, expiring on December 12, 2028. The stock options are non-transferable, the grant is subject to acceptance by the TSX Venture Exchange.
Lisa Riley and Tara Gilfillan did not stand for election. The Company wishes to thank each of them for their contributions as board members.
The Company’s shareholders appointed D&H Group LLP as auditor of the Company for the ensuing year.
The Company’s shareholders also approved the Company’s rolling 10% equity incentive plan (the "Incentive Plan"). Pursuant to the Incentive Plan, the Company is entitled to grant stock options, restricted share units ("RSUs"), performance share units ("PSUs") or deferred share units ("DSUs") to eligible persons under the Incentive Plan, with the number of common shares issuable thereunder, together with the number of common shares issuable under any other security-based compensation arrangements of the Company, not to exceed 10% of the total number of common shares outstanding from time to time. Subject to the terms of the applicable grants and the Incentive Plan, the Company may, at its discretion, settle RSUs, PSUs or DSUs granted under the Incentive Plan in either cash or equity.
Under the policies of the TSX Venture Exchange, the rolling plans must be approved on an annual basis by an ordinary resolution of the shareholders entitled to vote at such meeting.
About Tribeca Resources
Tribeca Resources is a copper exploration company focused on discovering and developing assets in the Coastal IOCG Belt of northern Chile. The Company’s management team, whose members are significant shareholders of the Company, has world-leading expertise and a discovery history with iron oxide copper-gold deposits in the world’s great IOCG Belts of the Carajás district in Brazil and the Gawler and Cloncurry provinces of Australia.
Tribeca Resources’ objective is to provide the mineral resources for the next generation of copper mines in Chile. It is focused on building a portfolio of projects, with emphasis on mid to advanced-stage copper exploration and resource development projects. To this end, mineral targets are regularly assessed in pursuit of acquisition, strategic exploration and significant discovery.
Tribeca’s flagship property is the La Higuera IOCG project that comprises 4,147 hectares of granted mining and exploration licences and is located towards the southern end of the Chilean Coastal IOCG Belt in the Coquimbo Region of northern Chile. The 822 hectare Gaby concession area is held under a purchase option (5% Exploration Levy on expenditure incurred during the option period; a US$200,000 payment due in March 2024 and a US$1.8 million final payment due March 2025; with a 1% NSR Royalty granted to the owner), with the remainder of the concessions being outright owned (100%) by Tribeca Resources. Further information about the project can be found in the NI 43-101 Technical Report lodged by Tribeca on SEDAR on 24 October 2022.
On behalf of Tribeca Resources Corporation
Paul Gow | Thomas Schmidt | |
CEO and Director | President and Director | |
admin@tribecaresources.com | admin@tribecaresources.com | |
+1 604 685 9316 | +1 604 685 9316 |
Cautionary Note
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act (“Regulation S”), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.
Forward Looking Information
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to anticipated business plans or strategies, including exploration projects, regulatory approvals and exercise of the Purchase Option.
Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of the Company to obtain approval from the TSX Venture Exchange, the ability of the Company to make the Exploration Levy Payments as well as all other payments which are a condition precedent to exercising the Purchase Option and the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company’s projects.
There are several important factors that could cause the Company’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.