Potential Large scale Porphyry - High Sulphidation System at Jiguata Project -- Tribeca Resources Technical Update

12:00 Uhr  |  The Newswire

25 FEBRUARY - Tribeca Resources Corp. (TSXV: TRBC) (OTCQB: TRRCF) ("Tribeca Resources", the "Company") is pleased to report technical updates from ongoing field programs and integrated analysis of mapping, soil sampling, hyperspectral and geophysical datasets at its Jiguata porphyry copper exploration project in Northern Chile.

Highlights:

• Structural analysis indicates the Jiguata project is situated adjacent to the crustal scale north-south oriented Loa fault and at the intersection of significant NW and NE structures, which are critical components in the formation of major porphyry Cu-Au-Mo and high sulphidation epithermal Au-Ag-Cu deposits within the Chilean Andes.

• Four substantial alteration centres have been delineated along a 7 km by 4 km northwest-oriented trend, suggesting a sizeable multiphase porphyry-epithermal district

• The alteration mineralogy and its distribution point toward the development of potential porphyry-related advanced argillic, steam-heated zones, which may conceal underlying mineralization

• Geological mapping has revealed large-scale, high-energy alunite-jarosite-bearing phreatic and hydrothermal breccias, as well as relatively unaltered dacitic porphyritic domes. These features are interpreted to represent multiphase porphyry intrusive centres at depth within a telescoped system

• Coincident IP chargeability and low resistivity anomalies match the scale and intensity observed in other recent deep porphyry discoveries beneath "barren" porphyry-related advanced argillic caps

• Multiple resistivity signatures within intensely altered zones are interpreted as indicators of high sulphidation epithermal vuggy silica targets and "silica shoulders" associated with deeper porphyry systems

Tribeca Resources CEO, Dr. Paul Gow commented:

"We are very pleased with what we are uncovering at the Jiguata Project. With four large zones of alteration developed over a 7km length, in the right structural setting, we can see a district coming together. While we are now awaiting detailed geochemical results and ground spectral information that will add to this picture, we believe the signs are there for the development of mineralization at depth. This systematic approach, although requiring significant pre-drilling field activity, should yield high quality drill targets that we can test with confidence. Field work is ongoing, but we are confident that drill holes can be targeted in a way that fully encapsulates all the data gathered during this systematic phase, after which we will look to mobilise drill rigs to priority targets."

Jiguata Porphyry Copper-Molybdenum Project

The Jiguata Project is a 10,000 hectare property located in the Tarapacá region in northern Chile. It is situated in the northern extension of the prolific Palaeocene and Eocene-Oligocene porphyry copper belts where it is overprinted by the younger Miocene Belt of magmatism that hosts recent large scale high sulphidation epithermal gold and porphyry copper-gold discoveries further to the south, including Vendaval Cu-Au Porphyry (First Quantum) ("Vendaval) and Salares Norte Au-Ag High Sulphidation Epithermal (Goldfields) ("Salares Norte") (Figure 1). References to nearby or regional deposits are provided for geological context only. The presence, size or grade of mineralization on other properties in the belt, including Vendaval and Salares Norte, is not necessarily indicative of mineralization on the Jiguata Project.

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Figure 1. Location of the Jiguata Project within the Miocene Belt of northern Chile. Deposits sizes and structural interpretation from *Farrar, D. G., Tosdal, R. M., and Dilles, J. H., 2023, Lithospheric architecture of the Central Andes: Economic Geology, v. 118, no. 6, p. 1253-1280.

Structural setting and prospectivity of the Jiguata Project

Structural interpretation has been completed across the Jiguata Project, incorporating newly acquired geophysical surveys and evolving field geological mapping. This interpretation indicates the project is situated along the Domeyko Structural Corridor, a continental-scale, structural feature that is defined by a 40-60 km wide zone that stretches for more than 1,000 km in northern Chile. The Loa Fault system, part of the Domeyko system, has been interpreted to pass through the Jiguata Project. The Domeyko Structural Corridor hosts significant giant porphyry systems in northern Chile, including Escondida, Chuquicamata, Nueva Union, Collahuasi, Quebrada Blanca and Cerro Colorado, which are referenced solely to illustrate the regional geological setting. Such deposits are not necessarily indicative of mineralization on the Jiguata Project.

Structural analysis has also interpreted coalescing oblique structural controls, oriented northwest and northeast within the Domeyko Structural Corridor. The northeast trending Quebrada Parca - Quebrada Minacucho fault system, which is a proven deep seated, fault zone that hosts porphyry style mineralization at the Cerro Colorado deposit and Queen Elizabeth prospect to the west of Jiguata, has been interpreted as transecting the Jiguata Project.

Four Alteration Centres Highlight Multiple Priority Targets at Jiguata

Alteration mapping from multispectral satellite imagery, supported by ongoing field mapping, has identified four significant alteration centres within a ~7 km x 4 km corridor at Jiguata (Figure 2). The alteration centres, referred to as La Soberana, Escudo Real, El Trono and Cetro Dorado, present as broad alteration zones in favourable structural settings, coincident with mapped breccias, and at La Soberana dacitic domes, along with prospective geophysical responses.

La Soberana

The alteration centre represents a historical focus for exploration activities at Jiguata and is defined by an approximate 2.5 km x 1.5 km multispectral alteration and mapped alteration zone proximal to mapped hydrothermal breccias and dacitic porphyritic domes.

The alteration centre is situated at the intersection of a prominent northwest trending structural zone and the interpreted north-south trending Loa Fault zone. Preliminary soil pXRF results outline coincident anomalism in As, Mo and Pb with historic rock chips returning up to 1,700 ppm Mo. The location features coincident high IP chargeability and low resistivity responses, along with an interpreted complex magnetic signature. Historic limited drill testing, comprising two reverse circulation holes drilled to 250m-300m depth, identified broad zones of anomalous copper hosted within a variably altered andesite host, however the historic drilling is considered to have been too shallow, and too far south, to have intersected remodelled geophysical responses at La Soberana.

Cetro Dorado

The Cetro Dorado alteration centre is situated approximately 3.5km to the northeast of La Soberana (Figure 2) and represents the northeastern-most target, situated within the interpreted Loa Fault zone proximal to the intersection of major northeast and northwest faults. The alteration centre is defined by an approximate 3.2 km x 2.0 km alteration footprint coincident with an interpreted low magnetic zone. IP modelling defines a northeast trending moderate chargeability response (+ 25 mV/V - Figure 3) with localised cores of coincident high chargeability and low resistivity along with deeper resistive "root" features. Preliminary soil pXRF analyses delineate a broad As anomaly coincident with the alteration and geophysical features within the area (Figure 4). Field mapping is underway in this area.

Escudo Real

Escudo Real is situated approximately 4km to the northwest of La Soberana proximal to a prominent northwest trending structural feature. The alteration centre is defined by a 2.5 km x 1.8 km alteration footprint situated between El Trono to the northwest and La Soberana to the southeast. Preliminary field mapping has identified northwest trending hydrothermal breccias bearing alunite and jarosite within the broad alteration zone. IP coverage outlines a northwest-trending resistive feature with partially coincident chargeability and offset low resistivity responses which remain open towards the northeast. Soil geochemistry has not yet been completed at this target location.

El Trono

El Trono is situated approximately 5.5km to the northwest of La Soberana. The location is considered a high priority target defined by a locally prominent topographic high with alteration modelled from satellite data extending over approximately 2.0 km x 2.0 km, proximal to the interpreted northeast Minacucho fault system. Encouragingly, the modelled multispectral and preliminary mapped alteration indicates the presence of a substantial silica and potentially sulphide-rich core with peripheral clay rich alteration halos. Topographical access constraints have limited detailed mapping and have impeded the advancement of geochemical and geophysical coverage; however, historic rock chips have returned values of >200 ppm Cu and up to 0.03 g/t Au proximal to mapped jarosite-bearing breccias. El Trono is prioritized for completion of soil geochemical surveys and potential extension of geophysical surveys to advance potential drill targets.

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Figure 2. Location of alteration centres with an overview of the Escudo Real and El Trono locations

Preliminary geophysical modelling and interpretations

Results have been received from the recently completed ground magnetic survey across the Jiguata Project area. Interpretation of preliminary total magnetic intensity (TMI) data (analytical signal) outlines a broad magnetic low that contains discrete magnetic highs. The magnetic low is spatially coincident with mapped and interpreted alteration, while the discrete magnetic highs are observed to be associated with mapped dacitic porphyritic domes.

The Company interprets that the discrete magnetic highs may represent potential intrusive centres and/or feeder zones, whereas the broader magnetic low may reflect magnetite-destructive alteration. An objective of the current work is to combine the interpretation of hyperspectral mineral composition patterns with detailed modelling of the geophysical datasets to provide vectors towards mineralized centres.

Interpretation and 3D remodelling of historic induced polarization (IP) data delineate two principal chargeability trends: one northeast-trending and one northwest-trending, with coincident low resistivity cores centred on the identified alteration centres (Figure 3).

The IP data also identified discrete extensive resistive "root" features developed proximal to low resistivity and elevated chargeability responses.

At La Soberana and Cetro Dorado, discrete magnetic highs appear to occur adjacent to coincident low resistivity and chargeable responses, supporting these areas as priority targets for follow-up work.

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Figure 3. Summary maps of the geophysical signatures in relation to the four alteration centres.

Initial pXRF soil geochemical results

Preliminary pXRF analysis of soil samples has been completed over the La Soberana and partially across the Cetro Dorado zones (Figure 4). The samples have subsequently been submitted to the laboratory for multielement geochemistry and hyperspectral analysis. At a high level, broad, coincident multi-element pXRF geochemical anomalies have been delineated that are spatially associated with interpreted alteration features and structural settings. See below for information related to analysis and QAQC procedures for the pXRF data, which are preliminary in nature; laboratory results are pending and will be reported once received.

The multi-element pXRF anomalies define a northeast trending pattern, extending up to approximately 2.5 km at La Soberana and 1.9 km at Cetro Dorado. These anomalies correlate with IP chargeability and low resistivity responses.

Interpretation of the soil dataset will be refined when final laboratory geochemical and spectral results are received. Unfortunately, current turnaround times at analytical laboratories in Chile are increasing with the current high level of exploration activity in the country, making the timing of receipt of these analyses uncertain.

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Figure 4. Summary results of pXRF analyses collected to date from the soil samples in the northeastern oriented zone covering the La Soberana and Cetro Dorado targets.

Progressing geological mapping

Field geological mapping has been completed across the La Soberana alteration centre and continues to unfold across the remaining alteration centres. At La Soberana, mapping has delineated a northeast trending hydrothermal breccia with quartz and alunite, and jarosite developed within a zone of advanced argillic alteration. This breccia zone trends toward younger cover and has been traced intermittently over an approximate 1.5 km strike length. Hydrothermal breccias at La Soberana appear spatially associated with outcropping, altered hypabyssal dacitic porphyritic domes.

Reconnaissance mapping at the other alteration centres has also identified hydrothermal breccia outcrops coincident with areas of argillic to advanced argillic alteration.

Mapped hypabyssal dacite domes show spatial agreement with interpreted geophysical features, and prospective breccia zones appear to partially coincide with IP chargeability and low resistivity responses. Mapping is being expanded to cover the majority of the Jiguata tenure, with priority placed on areas exhibiting coincident alteration and geophysical anomalism.

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Figure 5. Summary of the available data in the La Soberana area.

Analysis and QAQC Procedures

The pXRF results presented here were collected from plastic bags of sieved soil samples (-2mm) utilizing a HP InnovXSystem hand-held pXRF. The measurements were taken from the fine material at the bottom of each bag. The machine was regularly calibrated using a manufacturer supplied standard. The plots shown in this release represent the maximum value from each sample, with typically three readings collected per sample.

Qualified Person

All scientific and technical information in this press release has been prepared by, or approved by, Dr. Paul Gow, who is the CEO of Tribeca Resources. He is a Member of the Australian Institute of Geoscientists (MAIG), a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Dr. Gow has not verified any of the information regarding any of the properties or projects referred to herein other than the La Higuera IOCG Project, the Jiguata Project and the Chiricuto property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the La Higuera IOCG Project, the Jiguata Project and the Chiricuto property.

About Tribeca Resources

Tribeca Resources is a portfolio-driven copper explorer focused on northern Chile. Led by a team with a track-record of discovery and significant equity ownership, Tribeca Resources' objective is to discover the mineral resources for the next generation of copper mines in Chile.

Tribeca Resources' flagship La Higuera IOCG Project has seen approximately 10,000m of drilling with mineralization defined over a 1.4 kilometer strike length. Most of the La Higuera Project is held as 100%-owned properties, but with the properties overlying the Gaby target held under a purchase option agreement. The Chiricuto and Jiguata projects are earlier stage porphyry copper-gold-molybdenum targets, held under purchase option agreements.

On behalf of Tribeca Resources Corporation

Cautionary Note

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

Forward Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include statements regarding the relationship between alteration and rock characteristics identified in geological mapping and potential mineralization, the identification, prioritization and anticipated quality of exploration targets, the interpreted scale, extent and geological significance of alteration systems, the relationship between geophysical and geochemical survey results and potential mineralization, the size and timing of the proposed 2026 drill programs, the anticipated effectiveness of exploration methodologies, the integration of new and historic data to define drill targets, planned exploration activities beyond drilling, the anticipated completion of field activities and commencement of drilling (including the potential for weather-related delays), the ongoing engagement of GlobalOre and its impact on exploration outcomes, the use of proceeds from recently completed financings, the ability to secure and maintain necessary permits and approvals and the operations and future plans of the Company, including potential additional drilling and property acquisitions.

Such statements and information reflect the current view of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the ability of the Company to pay the purchase price and make any other payments required under the Jiguata Option Agreement, as well as to complete its option to acquire the Gaby target, risks associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management and that geological, geophysical and geochemical interpretations may not be confirmed by drilling, risks of delays or interruptions to exploration activities due to weather, logistical or access issues, risks related to obtaining and maintaining necessary permits and approvals, risks related to the availability and retention of key personnel, the ability to raise additional capital, fluctuations in commodity prices and market conditions, the reliability of historic or third-party data, the risk that any mineralization identified may be limited in size, continuity or economic significance, unanticipated costs or environmental liabilities, the risk that new laws or regulations could adversely affect the business and results of operations of the Company and anticipated work on the Company's projects and other risks inherent in early?stage mineral exploration projects.

There are several important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: reliance on key management; changes in the credit or security markets; the risk that exploration activities, including drilling, may not result in the discovery of economically viable mineralization; the risk that geological, geophysical or geochemical interpretations may prove inaccurate or incomplete; risks inherent in early?stage mineral exploration projects for which no mineral resources have been defined; risks related to the Company's ability to maintain its interest in exploration properties; results of operation activities; unanticipated costs and expenses; fluctuations in commodity prices; the reliability and limitations of preliminary, historic or third?party exploration data; and general market and industry conditions. The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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