The Company is planning a drill campaign to test 5 large targets. These targets include magnetic and coincident IP anomalies. In most cases, the associated copper mineralization is identified near surface. The campaign will comprise 40-50 diamond drill holes ranging in depth from 100 meters to approximately 500 meters for a total of 10,000 – 12,500 meters of drilling. Given the large scale of particularly the Central Target, several long holes per section will be required to evaluate the anomalies. The configuration used for the IP survey penetrates to at least 400 meters and the anomalies persist to that depth. Typically, IOCG deposits have a large vertical extent that can exceed 1 km. The targets are as follows:
- The Central Target: This target is the most prominent feature identified by Nobel’s work on the Project. This large target extends approximately 4 km with an arcuate shape and is approximately 2-2.5 km wide. The target comprises coincident magnetic and IP anomalies and is situated directly in the area where two highly copper mineralized structural trends (The Northeast Trend where copper mineralization is documented over 6 km by artisanal mining and the Gloria Trend in the south) intersect. This target is completely sand-covered and the area has never been explored or prospected by the artisanal miners as a result. Due to the very large scale of this target, drill holes could extend up to 500 meters deep and will require several holes per selected section to test the anomaly. On the IP pseudo sections, the chargeability anomaly appears to form along the contact of what is interpreted to be a barren intrusive body which is similar to the geological setting at the Michilla Mine.
- The Northeast Target: The NE target occurs close to the area where the majority of artisanal mining has occurred on the Project. High grade copper has been identified in these workings along a distance of approximately 6 km. The target is approximately 2.5 km long and 750 meters wide. The IP has identified what is interpreted to be a sulfide-rich zone at depth below the oxide layer. This would manifest as copper oxides closer to surface.
- Gloria Target: The anomaly occurs within the Gloria mineralized trend, adjacent to the north, of the area where high grade copper oxide mineralization has been identified in drill holes. This target extends in a NW direction towards the Central Target and is approximately 2 km long 600 meters wide.
- Southwest Target: This target comprises a strong magnetic and coincident IP anomaly in an area not previously explored. It is a well defined one line anomaly situated on what may be the continuation of the Central target or the Northeast Mineralized Trend.
- North Central Target: The NC Target is a strong one line anomaly between the NE target and the Central target south of an area where abundant copper veins and workings occur.
The Property Features two highly copper-mineralized trends. The Northeast Trend where artisanal mining has exposed high grade copper veins over a 6 km X 2.5 km area. This is the area presently being mined with high grade copper (12% Cu cut-off) being direct-shipped to Enamiâ€™s plant in Copiapo. The Gloria Trens strikes NW and occurs in the southern part of the Property. Nobel has identified a very compelling target that is 4 km X 2.5 km (the Central Target) in the area where the two mineralized trends are projected to intersect.