Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - Kobrea Exploration Corp. (CSE: KBX) (FSE: F3I) (OTCQB: KBXFF) ("Kobrea" or the "Company") announces that field crews have been mobilized to commence the 2025 exploration program at multiple porphyry prospects on the Company's Western Malargüe Copper Projects. Kobrea holds the right to earn a 100% interest in the 7 projects comprising the Western Malargüe Copper Projects, totaling over 733 km2 in southwestern Mendoza Province, Argentina (See the Company's August 19, 2024 news release for details).
"We are first movers into the newly established Western Malargüe Mining District in Mendoza Province, Argentina, and have an opportunity to make discoveries by drilling for the first time in this part of a world-class porphyry copper belt. Host to numerous Tier 1 porphyry copper deposits the Neogene Porphyry Belt includes Los Bronces/Rio Blanco and El Teniente," commented James Hedalen, CEO. "The inaugural program will include geological mapping and geochemical sampling of multiple porphyry copper systems along with geophysical surveys which will culminate with the first ever drill program on these projects."
Initial exploration activities comprising geological mapping, rock chip sampling and talus sampling will be followed up by geophysical survey in the coming months. In the case of the El Perdido prospect, the Company intends to follow-up initial exploration activities completed by previous operators with diamond drilling later in the season. The results of historical exploration completed on the El Perdido prospect have outlined a sizable porphyry copper-gold-molybdenum target that has not seen drill testing of any kind.
Figure 1. 3-dimensional representation of the porphyry Cu-Au-Mo exploration target at El Perdido
The 6,878-hectare El Perdido prospect is host to a porphyry Cu-Au-Mo system that has been defined at surface but has not seen any drilling to date. The porphyry target is characterized as a 2 x 3-kilometre hydrothermal alteration footprint exhibiting classic porphyry alteration assemblages with localized potassic alteration coming to surface (Figure 1). A 900 x 500-metre area of quartz stockwork veining coincides with anomalous copper-gold-molybdenum rock geochemistry, mapped quartz diorite porphyritic intrusions, localized biotite breccias and potassic alteration in an area that is otherwise dominated by phyllic alteration. Interpretation of ground magnetometer data collected in 2013 outlines a subsurface magnetic anomaly measuring roughly 1,000 metres across and extending 1,000 metres to depth that is surrounded by a decreased magnetic signature, representing an attractive geophysical target in the context of porphyry Cu-Au-Mo exploration.
Western Malargüe Mining District
The Western Malargüe Mining District (WMMD) is a tool developed by the government of Mendoza through Impulsa Mendoza SA to respond to the challenge that the energy transition represents for the world. Detailed environmental impact studies over the entire WMMD area were completed as well as studies of geological and infrastructure potential to shorten the times required for the exploration of mining projects.
On November 12, 2024, environmental impact statements for 34 projects were ratified in the provincial legislature, allowing for the exploration and development of 34 mining projects in the department of Malargüe, and as part of this approval, two of Kobrea's projects, El Perdido and Elena, have been approved for mineral exploration activities, including drilling. The approval of the first 34 projects came after an extensive process of public hearings, citizen participation and technical analysis. Over the course of the next few months, more projects, including the remaining projects held by Kobrea in the WMMD, will undergo the same approval process.
Marketing Agreement
Kobrea also announces that it has extended the term of its marketing agreement with MIC Market Information & Content Publishing GmbH ("MIC"). Under the terms of the extension, MIC will continue to provide marketing services to the Company for an additional 12-month period, and the Company will pay an additional EUR200,000 to MIC. Please refer to the Company's news release dated April 18, 2024 for more information about MIC and its services.
Qualified Person
The scientific and technical information in this news release has been approved by Rory Ritchie, P.Geo., VP - Exploration and Director of Kobrea Exploration Corp. and a Qualified Person under National Instrument 43-101. The technical information referenced in this release relates to historical exploration completed by previous operators of the Property and the Company has not verified such historical results.
About Kobrea
Kobrea Exploration Corp. is a mineral exploration & development company focused on the acquisition and exploration of base metal projects. Kobrea holds the right to earn a 100% interest in 7 projects totaling over 733 km2 in southwestern Mendoza Province, Argentina. The properties are considered highly prospective for porphyry copper and porphyry copper-gold deposits. Numerous porphyry copper targets have been outlined to date exhibiting multi-kilometre hydrothermal alteration footprints, anomalous copper ± gold ± molybdenum geochemistry, quartz stockwork veining, localized hydrothermal breccias and Miocene aged dacitic to dioritic porphyry intrusions. Kobrea also holds a 100% interest in the Upland Copper Project in British Columbia, Canada.
For more information, please consult the Company's filings, available at www.sedarplus.ca.
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company, including statements respecting (i) the Company earning a 100% interest in the Western Malargüe Copper Projects; (ii) the details of the Company's inaugural exploration program on the Western Malargüe Copper Projects, including the El Perdido prospect, and timing and any potential results thereof; (iii) the opportunity for the Company to make discoveries within the WMMD, (vi) the approval of any of Kobrea's additional projects within the WMMD, and (v) the MIC engagement and the services to be provided thereunder. These forward-looking statements generally are identified by words such as "believe," "project," "aim," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
