Tribeca Resources Extends Newly Discovered Shallow Copper-Gold System at Chirsposo Sur Target to 650m Strike Length
Tribeca’s low-grade 650m IOCG extension fails to build on the first-hole grade.
Tribeca Resources Corporation (TRBC) has released final assay results for three of four maiden diamond drill holes at the Chirsposo Sur target within its La Higuera IOCG project in Chile. The total drilling program encompassed 1,241 meters across four holes.
The company reported the following drill intercepts:
- CSS001: 67 m @ 0.52% Cu, 0.15 g/t Au, 170 ppm Co, 0.68% CuEq from 71 m.
- CSS002: 4 m @ 0.43% Cu, 0.11 g/t Au, 81 ppm Co, 0.54% CuEq from 48 m; and 140 m @ 0.11% Cu, 0.03 g/t Au, 225 ppm Co, 0.18% CuEq from 93 m.
- CSS002 (sub-intervals): 35 m @ 0.20% CuEq from 93 m; 14 m @ 0.28% CuEq from 150 m; 55 m @ 0.20% CuEq from 178 m.
- CSS004: 4 m @ 0.22% Cu, 0.62 g/t Au, 155 ppm Co, 0.74% CuEq from 30 m; and 4 m @ 0.14% Cu, 0.01 g/t Au, 206 ppm Co, 0.20% CuEq from 207 m.
Drill hole CSS003 was positioned off the main magnetic trend and did not contain an interval meeting the four-meter minimum thickness requirement. However, the hole did intersect several one- to two-meter intervals ranging from 0.11% to 0.36% Cu, along with a single one-meter interval exceeding 1% Cu that is awaiting an over-range assay result.
Tribeca interprets magnetite breccias as continuous between the holes over a 650-meter strike length. True thickness remains unknown due to the lack of outcrop and the presence of only one hole per section.
The cutoff for individual intervals is greater than 0.10% Cu, with a maximum internal dilution of 10 m @ 25 ppm Cu and a minimum thickness of 4 m. Copper equivalent (CuEq) grades utilize Gaby recoveries as a proxy, applying 90% for Cu, 65% for Au, and 50% for Co. These calculations are based on metal prices of US$4.75/lb for copper, US$3,500/oz for gold, and US$20.00/lb for cobalt.
Tribeca Resources Corporation (TRBC) is a micro-cap explorer with a market capitalization of approximately C$18.5 million and no revenue. At this stage, the market prices scale and grade discovery potential rather than near-term cash flow. The financial figures provided below are prior-period context and not new information from today’s release.
The company’s expectation anchor is CSS001, which reported 67 m @ 0.68% CuEq, published on 2026-10-06. The stock closed at C$0.20 on 2026-10-05 and C$0.23 on 2026-10-06, then drifted to C$0.19 by 2026-11-06. The anchor is not embedded; the stock is near its 52-week low and has not re-rated on the first hole.
Recent drilling results include CSS002, a genuine step-out that is materially weaker in grade and lower in CuEq %-m compared to the anchor. CSS004 is high-grade but only 4 m, while CSS003 is non-significant. The release extends the trend but does not replicate the anchor’s grade.
The result does not change resource potential, NAV, or mine-life assumptions because there is no resource and the new grade is sub-economic as reported. It is an incremental geological confirmation of a low-grade system, not a value-changing event. Expected share-price impact is muted and slightly negative, as the market is unlikely to pay for 650 m of 0.18% CuEq after a 0.68% CuEq discovery hole.
Tribeca Resources Corporation (TSXV: TRBC, OTCQB: TRRCF) is a portfolio-driven copper explorer focused on northern Chile. The company’s flagship La Higuera IOCG project is now described as 100%-owned and includes approximately 14,500 meters of drilling across three mineralized systems: Gaby, Chirsposo, and Chirsposo Sur. The Gaby-Totito acquisition carries deferred payments and a 1% NSR.
The company also holds options to purchase the Jiguata and Chiricuto projects. The Jiguata project is a 10,000-hectare porphyry copper-gold-molybdenum target where four alteration centers have been defined, with La Soberana and Cetro Dorado prioritized for Phase 1 drilling. The Chiricuto project is an earlier-stage porphyry copper-gold-molybdenum target under a purchase option.
No mineral resources, reserves, economic studies, or production are reported in the provided materials. In prior-period financial context not disclosed in today’s release, Tribeca reported a H1-2026 net loss of C$2.02 million. As of June 30, 2026, the company held C$3.22 million in cash and C$3.19 million in working capital, with no debt and 97.44 million shares outstanding.