27 FEBRUARY, 2025 | VANCOUVER, BC
Tribeca Resources to Exhibit and Present at 2025 PDAC Convention in Toronto
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to advise that it will be exhibiting at the annual 2025 Prospectors & Development Association of Canada (PDAC) Convention, the world's premier mineral exploration & mining event.
To learn more about Tribeca Resources’ copper-gold discovery at the La Higuera Project and the strategy behind on-going drilling at the Chiricuto property, we invite you to visit the team at Booth # 3131 in the Investors Exchange, Level 800, at the Metro Toronto Convention Centre, South Building on Sunday March 2nd through Wednesday March 5th.
Further, Tribeca Resources CEO, Paul Gow, will be presenting at the “Chile at PDAC” event, jointly organised by CESCO and Latin Rocks. Details for the event, which will include a presentation from Chile’s Minister of Mining Aurora Williams, are available at https://www.latinrocks.cl/chile-en-pdac-2025. The Tribeca presentation will take place at 10:30am on Monday March 3rd, with no prior registration required.
An updated version of our Corporate Presentation is now available on the Company’s website: http://tribecaresources.com/investors/presentation/
About PDAC
PDAC 2025: 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
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 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.
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.
6 FEBRUARY, 2025 | VANCOUVER, BC
Tribeca Resources Commences Maiden Drill Program at Chiricuto Property in Atacama Region of Chile
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to report that drilling has commenced on the Company’s Chiricuto Property (“Chiricuto”) in the Atacama region of northern Chile. This follows systematic completion of geological mapping, geophysics and soil sampling since Tribeca Resources acquired an option to purchase a 100% interest in the property in March 2024.
Highlights:
- Untapped Potential: Chiricuto is home to one of the few remaining large iron oxide alteration systems in the Capstone Copper dominated Mantoverde copper district, that has not yet been explored through drilling
- Commencement of Drilling: Drilling under way to investigate two targets validated through a combination of geochemical, geological, and geophysical surveys
- Planned Drilling: Approximately 1,500 meters of planned diamond drilling to be executed across five strategically proposed drill holes. This program aims to thoroughly assess the mineral potential
Drilling activities at the Chiricuto Property will be undertaken in parallel with preparation for further drilling at the Company’s flagship La Higuera Project.
Tribeca Resources CEO, Dr. Paul Gow commented:
“Since Tribeca Resources’ acquisition of a 100% purchase option over the Chiricuto Property ten months ago, our team has worked to systematically complete three streams of pre-drilling activities and has successfully advanced the Chiricuto Property towards this significant milestone. We are excited to now test these exciting combined geophysical-geochemical targets in this growing copper district that is dominated by Capstone Copper’s significant copper-gold projects.“
Chiricuto Property drilling program
The Chiricuto Property is 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 Mantoverde mine and Santo Domingo development project, respectively. These two deposits combined host over 1.5Bt of copper-gold mineral resources (Figure 1). The Mantoverde mine currently produces 35,000 tonnes of copper cathode per annum, with a recently completed expansion to process sulphide ores set to increase total production in 2025 to between 97,000 tonnes and 112,000 tonnes of copper.
Geochemical-geophysical targets, coincident with mapped alteration, at the Chiricuto Property will be tested by an approximate 1,500m diamond drilling program expected to include five drill holes, the first of which has been collared. The objective of this maiden drill programme is to test for significant iron oxide copper-gold (IOCG) mineralization associated with one of the few remaining large iron oxide alteration systems in the district yet to be drill tested.
The two key targets to be tested for copper-gold mineralization comprise i) a large magnetic anomaly in the west of the property, which is expected to be associated with magnetite alteration, and ii) a significant IP chargeability anomaly in the northwest of the property that is generally non-magnetic and is interpreted as potentially associated with hematite alteration.
Pre-drilling activities completed at Chiricuto
The pre-drilling activities undertaken during 2024, to identify these targets at Chiricuto, included:
- Geological mapping that identified extensive alteration zones, predominantly focused in the northwest of the property (Figure 2)
- Gradient-array Induced polarization (IP) and magneto-telluric (MT) geophysical surveying that identified a 1.2km long chargeable zone in the northwest of the property (see Tribeca’s news release dated 29 October 2024)
- Systematic soil sampling over the area covering both the IP and ground magnetic anomalies, which returned the two highest copper samples over the two key geophysical anomalies, along with highly elevated gold up to 0.127 g/t Au (see Tribeca’s news release dated 15 January 2025)
Qualified Person
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 Project and the Chiricuto Property.
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 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.
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 statements regarding the relationship between geophysical and geochemical survey results and potential mineralization, the size and timing of the maiden drill program that has commenced, 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 pay the purchase price as well as any other payments required by the Chiricuto Option 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.
15 JANUARY, 2025 | VANCOUVER, BC
Tribeca Resources announces encouraging soil geochemistry results coincident with geophysical targets ahead of drilling at Chiricuto
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”) is pleased to announce results from a systematic soil geochemical survey over the geophysical targets at the Chiricuto IOCG Property ("Chiricuto Property") in the Atacama region of northern Chile. Strong copper and gold soil anomalism is present and is associated with Induced Polarization (IP) and ground magnetic targets that are proposed for drilling in the coming months.
Highlights:
- Highly anomalous copper and gold soil samples with values up to 935 ppm copper and 0.127 g/t gold
- Two highest copper samples located directly over the two most significant geophysical anomalies: one over the intense ground magnetic anomaly, one over a coincident gradient array IP chargeability and magneto-telluric (MT) low-resistivity anomaly
- Documentation for the upcoming drilling program submitted to the appropriate authority (Sernageomin), with drilling expected to commence in February
Drilling activities at the Chiricuto Property will be undertaken in parallel with preparation for further drilling at the Company’s flagship La Higuera Project.
Tribeca Resources CEO, Dr. Paul Gow commented:
“Integration of the new soil geochemistry data with our recently reported geophysical survey results reinforces our proposed drill targets at Chiricuto. These now represent exciting combined geophysical-geochemical targets in this growing copper district, dominated by Capstone Copper Corp. The very strong gold soil results accompanying the anomalous copper are highly encouraging, and consistent with the metals commonly present in IOCG systems. We look forward to commencing drilling at Chiricuto in the coming month.”
Chiricuto Project overview
The Chiricuto Property is 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 Mantoverde mine and Santo Domingo development project, respectively (Figure 1).
The project is located within the andesite-dominated lower unit of the Middle-Upper Jurassic La Negra Formation, which is the same rock unit that hosts the Mantoverde deposit (approximately 1 Billion tonnes of oxide and sulphide copper resource, Capstone Copper MRE dated 31 December 2022 - Measured and Indicated categories). The rocks are in the hanging-wall to a major east-vergent thrust, parallel to, but located between, the regional Atacama and Chivato Fault Systems.
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.
The Chiricuto soil sampling program
A systematic 200m x 200m spaced grid soil sampling program was completed over the previously announced geophysical targets at the Chiricuto Property (see Tribeca’s news release dated 29 October, 2024). The objective of the soil survey was to delineate zones of higher copper-gold within the extensive geophysical target area in order to prioritize and refine drill targets for the upcoming drill program. The survey spanned approximately 2.5km x 200m-1,000m of outcropping to sub-cropping area in the northwest of the property (Figure 2). The sampling comprised collection of a 200 gram sample of material finer than 180 microns (-80#) from 30 cm depth. The samples were analyzed at ALS laboratories for a multi-element package plus super-trace gold (ALS code AuME-ST43).
The maximum gold and copper values returned were 935 ppm Cu and 0.127 g/t Au. The maximum copper value was returned from over the intense >3,000 nT magnetic anomaly in the central-west of the property. The second highest copper anomaly was returned from the northwest of the property coincident with a prominent gradient array chargeability anomaly and magneto-telluric (MT) low-resistivity anomaly (Figure 2). Importantly, this zone of copper anomalism also hosts a 400m x 300m zone of gold in soil of >50 ppb Au (0.05 g/t Au), with two samples above 0.1 g/t Au.
Upcoming drilling program
These coincident geochemical-geophysical targets at the Chiricuto Property are planned to be tested by an approximate 1,500m diamond drilling program expected to commence in February. The requisite documentation has been submitted to the appropriate authority (Sernageomin) and the drilling contractor has been appointed.
Qualified Person
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 Project and the Chiricuto Property.
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 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.
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 statements regarding the relationship between geophysical and geochemical 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 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.
DECEMBER 5, 2024 | VANCOUVER, BC
Tribeca Resources Announces Results of AGM
Tribeca Resources Corporation (TSXV: TRBC) (OTCQB: TRRCF) (“Tribeca Resources”, the “Company”), is pleased to announce the voting results from its Annual General Meeting of shareholders (the "Meeting") held on December 4, 2024. Shareholders holding 22,366,250 shares or 33.62% of the outstanding shares of the Company were represented in person or by proxy at the Meeting.
The shareholders re-elected Paul Gow, Thomas Schmidt, Nick DeMare, Luis Tondo and Derrick Weyrauch as directors of the Company.
The shareholders also voted in favour of all matters brought before the Meeting including the re-appointment of D&H Group LLP as auditor of the Company for the ensuing year and the continuation of 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, performance share units or deferred share units 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.
Following the Meeting, the directors appointed Paul Gow as Chief Executive Officer of the Company, Thomas Schmidt as President and Nick DeMare as Chief Financial Officer and Corporate Secretary. The Board also appointed Luis Tondo, Derrick Weyrauch and Thomas Schmidt to the audit committee.
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. 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.
For more information, please contact:
| 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.
OCTOBER 29, 2024 | VANCOUVER, BC
Tribeca Resources Defines New Drill Target with Geophysical Survey Results at the Chiricuto IOCG Project
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.
Highlights:
- Recent work confirms the presence, at Tribeca’s Chiricuto property, of one of the few sizeable iron oxide alteration systems in the Mantoverde – Santo Domingo district that is yet to be drill tested
- Pre-drilling activities have identified:
- significant alteration and veining within the northern portion of the project, including a zone of intense silicification, moderate leaching± hematite+ limonite, an east-west trending calcite-rich vein dominated zone, and a large zone of chlorite-epidote altered andesite.
- a 1.2 km long zone of moderate to high chargeability, with locally coincident MT low resistivity anomalism, within the northwestern portion of the project area.
- Soil geochemistry is underway across the north and western parts of the project area to further refine drill targets in zones of strong IP and ground magnetic anomalism
- Fully funded drill programme planned to commence in the first quarter of 2025
Tribeca Resources CEO, Dr. Paul Gow commented:
“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.”
Geological Mapping
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.
Geophysical Surveying
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.
Next Steps
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.
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. 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.
For more information, please contact:
| Paul Gow | Thomas Schmidt | |
| CEO and Director | President and Director | |
| admin@tribecaresources.com | admin@tribecaresources.com | |
| +1 604 685 9316 | +1 604 685 9316 |
Qualified Person
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.
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 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 Closes C$1.28 Million Non-Brokered Private Placement
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:
- Pre-drilling activities and an initial drill program of up to 1,500 metres at the Company’s Chiricuto project, which features a large geophysical anomaly that remains undrilled;
- Advancement of the Company's La Higuera project ahead of Phase 3 drilling; and
- Wider business development activities and for general corporate purposes
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.
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. 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.
For more information, please contact:
| 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 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.
JULY 26, 2024 | VANCOUVER, BC
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES
Initial Closing of Private Placement and Extension of Gaby Property Purchase Option
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.
Gaby Property Purchase Option Extension
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+.
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. 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.
For more information, please contact:
| 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 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 Announces Non-Brokered Private Placement of up to C$2M with Indications of Interest from Sophisticated Investors
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:
- Pre-drilling activities and an initial 1,500 metre drill program at the Company’s Chiricuto project, which features a large geophysical anomaly that remains undrilled;
- Advancement of the Company's La Higuera project ahead of Phase 3 drilling; and
- Wider business development activities and for general corporate purposes.
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.
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. 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.
For more information, please contact:
| 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 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 Grants Stock Options and DSUs
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.
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 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.
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 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 acquires option over rare undrilled geophysical target in the Mantoverde District of Northern Chile and reports final drill results from the La Higuera project
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.
Highlights:
- Binding purchase option executed for acquisition of a 100% interest in the Chiricuto Property, hosting a rare undrilled iron oxide alteration system in the Mantoverde – Santo Domingo district of the Chilean Coastal iron oxide copper-gold (“IOCG") Belt.
- IP and magnetic surveying results, combined with significant copper workings on adjacent licences suggest the potential presence of a large magnetite ± sulphide system.
- With a modest up-front payment, Tribeca Resources’ novel “exploration levy” concept applied, and the final purchase price dependent on metal contained in a maiden Mineral Resource Estimate (“MRE”), the Agreement provides Tribeca Resources’ shareholders with a low-cost option on an exciting property with strong IOCG potential.
- Pre-drilling activities at the Chiricuto Property will be undertaken in parallel with preparation for further drilling at the Company’s flagship La Higuera Project.
- Final drill results from a successful Phase 2 program at the La Higuera Project have now been received and are reported below.
- Tribeca Resources will continue its pursuit of high-quality exploration properties, seeking to capitalise on the opportunity offered by current market conditions, to incorporate external growth options on sensible commercial terms.
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.”
The Chiricuto Property
Highlights
- 6 exploitation concessions covering 570 hectares
- Excellent infrastructure in the area including roads, powerlines, port, 50 km from the coast
- Situated between the Mantoverde IOCG mine and the Santo Domingo IOCG project (both owned by Capstone Copper)
- One of the few significant iron oxide alteration systems in the Mantoverde district that remain untested by drilling
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.
Key Transaction Terms
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:
- Duration: 5-year option to purchase a 100% interest in the Chiricuto Property
- Option cost: Cash payment of US$20,000 upon execution of the Agreement (paid)
- Purchase price: US$0.01 per pound of contained copper equivalent metal contained in the Measured & Indicated categories of an independent NI 43-101 compliant MRE. Purchase price will be at least US$1 million and will be capped at US$10 million
- Holding costs: Tribeca Resources to pay annual concession fees (less than US$20,000/year)
- Past annual concessions fees: Payment or reimbursement of certain past licence fees totalling approximately US$23,000.
- Exploration Levy payments: Annual 5% Exploration Levy cash payments to the Project Vendors with guaranteed minimum payment of US$20,000 and cumulative amount paid to the Project Vendors during the option period capped at US$1 million
- Deliverables: To exercise its Purchase Option, Tribeca must have delivered an NI 43-101 compliant MRE (to a minimum Inferred level of confidence), and have completed at least 3,000 metres of drilling over the geophysical anomaly identified at the Chiricuto Property
- Extension right: Option period extendible to 6 years by paying the Project Vendors US$50,000 and increasing the purchase price from US$0.01 to US$0.011 per pound of contained copper equivalent in the MRE
- NSR Royalty: If the Purchase Option is exercised, the Project Vendors retain a 0.5% NSR Royalty over the Chiricuto Property. No repurchase rights are included. 50% of Chiricuto Property purchase price to count as credit towards the NSR Royalty.
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.
La Higuera Project drill results
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.
Qualified Person
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.
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 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.
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 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.
APPENDIX A.
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 |
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