TORONTO, March 28, 2023 (GLOBE NEWSWIRE) --
Nobel Resources Corp.
(TSX–V: NBLC; OTC: NBTRF) (the “Company” or “Nobel”) has decided to withdraw from its option to acquire the Algarrobo project (the “Project”) in Chile.
According to Vern Arseneau, COO of Nobel, “After completing an extensive drill campaign on multiple target areas and reviewing the data from the Project, we have concluded that although there remains some potential for a deep porphyry on the property, alteration assemblages suggest it is likely too deep and in an area with a very thick dune cover and as such unlikely to be an economically viable target.”
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, 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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