Tribeca Resources Corporation announced results from the first diamond hole of the Phase 2 drilling program at the company's La Higuera Project ("the Project") in the Coastal Iron Oxide Copper- Gold (IOCG) Belt of northern Chile. Drill hole GBY008 intersected a thick interval of copper-gold mineralization from the base of shallow gravel cover. Drill hole GBY008 was a 50m step-back from the previously reported GBY001 and has confirmed the significant thickness of mineralization and provided important constraints for the geological model. In particular, the hole provided information on the potential geometry and distribution of the magnetite breccias that are the main hosts for the copper-gold mineralization. The assay results from the current and upcoming holes in this 10-hole program of approximately 4,000 metres are planned to be released progressively as they are received, with drilling expected to continue until February 2024. Drill hole GBY008 was designed as a 50m step-back from drill hole GBY001 on Section 4270N with the objective of testing the mineralised system to the east and providing constraints on the geometry of the mineralized breccias. The hole was terminated at 445.5m depth. The drill hole lifted more than expected and at depth is within 13m of GBY001. It intersected the same diorite body near the base of the hole as that seen in GBY001. As previously reported in results from drill hole GBY001, which intersected 268m @ 0.66% Cu and 0.14 g/t Au, the mineralization is dominated by veins and breccias comprising a magnetite-pyrite-chalcopyrite assemblage, commonly associated with combinations of quartz, actinolite, scapolite, albite, and epidote. The mineralized interval, from the base of cover at 50m to 274m downhole depth, appears to be terminated or offset by a fault at 272-274m, which needs further investigation. The orientation of this fault is not currently known, but it may be a steep fault with horizontal displacement. Magnetite breccias are present below this fault but are less well mineralised. Several late dikes (<5m thick) were also intersected, which crosscut the breccia but are weakly mineralized suggesting a late-mineralization timing. This thick mineralised interval intersected by GBY008 provides significant encouragement as drilling continues to expand the
known mineralized zone within this target.