- Nobel Resources Corp. (NBLC) has withdrawn its option to acquire the Salvadora project in Chile
- The company noted that having reviewed all of the technical results to date, it found them to fall below expectations
- The extent of the copper oxide mineralization was too limited for development
- Nobel Resources Corp. is focused on exploring and developing copper projects in Chile, the premiere copper mining jurisdiction globally
- Nobel Resources Corp. opened trading at $0.06 per share
Nobel Resources Corp. (NBLC) has decided to withdraw from its option to acquire the Salvadora project in Chile.
The company noted that having reviewed all of the technical results to date, it found them to fall below expectations.
“The company intersected copper mineralization from all drill holes, which were located in two areas of the property, including several intervals grading more than 1 per cent copper,” explained Vern Arseneau, COO of Nobel.
“However, the mineralization did not demonstrate sufficient grade or continuity to support the development of a commercial scale copper mining operation,” he added.
Nobel explained that the potential for a covered oxide zone associated with the sulphide copper mineralization was also evaluated by drilling. Still, the extent of the copper oxide mineralization was too limited for development.
The company would prefer to pursue its recently acquired Pircas Verde Project, where potential for a larger deposit remains to be tested.
Nobel Resources Corp. is focused on exploring and developing copper projects in Chile, the premiere copper mining jurisdiction globally.
Nobel Resources Corp. opened trading at $0.06 per share.
