Nobel Provides Update on Cuprita Project, Chile
Nobel reports low-grade porphyry intercepts at Cuprita, leaving its IP target unproven.
Nobel Resources Corp. (NBLC) reported assay results from drillhole CUP-006 at its Cuprita porphyry copper project in Chile. The hole intersected 21.0 m at 503.9 ppm Cu (0.050% Cu) from 208–229 m, including a 1 m zone of 3,237 ppm Cu (0.324% Cu) from 228–229 m.
- 21.0 m at 503.9 ppm Cu (0.050% Cu) from 208–229 m, including 1 m at 3,237 ppm Cu (0.324% Cu) from 228–229 m
- 4.0 m at 1,059.0 ppm Cu (0.106% Cu) and 27.3 ppm Mo from 208–212 m
- 5.0 m at 1,151.0 ppm Cu (0.115% Cu) from 395–400 m
A completed Pole-Dipole IP survey identified a large chargeability anomaly, with the core of the anomaly lying east of the hole collar. The company plans to target this area in future drilling. Management asserts the hole exhibits the strongest alteration and lowest pyrite, suggesting proximity to the mineralized centre.
The reported intercepts are far below economic thresholds for a porphyry copper deposit and do not alter the company’s resource thesis. While the IP survey data provides a new target, it remains untested by drilling and has not yet demonstrated economic grades.
The market price has already collapsed from $0.17 in January to $0.03, reflecting the failure of early drilling to deliver economic grades and the abandonment of the Pampa Austral and Anais projects. For a junior explorer with no revenue and a fully diluted share count of 297 million, the cost of discovery remains high and the probability of a material discovery is low based on results to date.
Nobel Resources Corp. (NBLC) is a Canadian junior explorer focused on copper development in Chile, primarily centered on the 1,000-hectare Cuprita porphyry project. The company also holds secondary projects at Janett, Pampa Austral, and Anais, though the latter two were dropped in June 2026.
Nobel currently holds no mineral resources or reserves. It maintains options to acquire 100% of the properties, subject to future payments and share issuance, including the issuance of 2.5 million shares upon defining a resource.
As of Q1 2026, Nobel had $2.04 million in cash and no debt. With a quarterly operating cash burn of approximately $1.86 million, the company has a runway of about 4–5 months at current spending rates.