TORONTO, Nov. 24, 2022 (GLOBE NEWSWIRE) --
Nobel Resources Corp.
(TSX–V: NBLC; OTC: NBTRF) (the “Company” or “Nobel”) has decided to withdraw from its option to acquire the Salvadora project (the “Project” or the “Property”) in Chile. According to Vern Arseneau, COO of Nobel, “The Company has reviewed all of the technical results to date. The Company intersected copper mineralization from all drill holes, which were located in two areas of the Property, including several intervals grading more than 1% copper. However, the mineralization did not demonstrate sufficient grade or continuity to support development of a commercial scale copper mining operation. The potential for a covered oxide zone associated with the sulphide copper mineralization was also evaluated by drilling, and the extent of the copper oxide mineralization was too limited for development. The Company is excited to pursue its recently acquired Pircas Verde Project, where potential for a larger deposit remains to be tested.”
The scientific and technical information in this news release has been reviewed and approved by Mr. David Gower, P.Geo., as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Nobel Resources is focused on exploring for and developing copper projects in Chile, the premiere copper mining jurisdiction globally. The Company has a team with a strong background of exploration success in the region.
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Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, regarding the prospectivity of the Project, the mineralization of the Project, the Company’s ability to explore and develop the Pircas Verde project and the Company’s future plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nobel, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; risks associated with operation in foreign jurisdictions; ability to successfully integrate the purchased properties; foreign operations risks; and other risks inherent in the mining industry. Although Nobel has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Nobel does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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