Tribeca Resources Corporation reported assay results from two further holes of the nine-hole drilling program recently completed at its La Higuera iron oxide copper-gold (IOCG) project, located 40km north of La Serena, in the Coquimbo region of northern Chile. The two holes reported here are consistent with the presence of an approximately 140m-wide NNW-trending sub-vertical zone of copper sulphide mineralization, comprising magnetite-related IOCG-style pyrite-chalcopyrite mineralization. Drill hole discussion: The presence of an approximate 140m-wide NNW-trending sub-vertical mineralized envelope has been interpreted at the Gaby target.

It has been intersected in two drill holes on 100m-spaced drill sections as follows: Drill hole GBY001 with an intersection of 268m @ 0.66% Cu, 0.14 g/t Au, 24.7% Fe, 330ppm Co from 52m downhole depth on section 4270N. Historic drill hole RCH-LH-07 intersected 285m @ 0.40% Cu, 0.08 g/t Au, 23.5% Fe and 259ppm Co from 100m downhole depth on Section 4170N. Drill hole GBY004 was located to test 80m up-dip from several +1% copper intervals at approximately 150m depth in historic drill hole RCH-LH-07 on Section 4170N.

GBY004 intersected 44m @ 0.40% Cu, 0.08 g/t Au, with a maximum 2m interval of 0.82% Cu, from the base of gravel cover at 38m downhole depth. This intersection is within a broader interval of 94m @ 0.34% Cu. The results of drill hole GBY004 are consistent with the interpreted broadly sub-vertical envelope of sulphide copper mineralization, but do not allow direct correlation of the highest-grade copper intersections in each hole.

Drill hole GBY005 was drilled in the opposite direction, from the west, to test the interpreted mineralized envelope approximately 30m north of drill hole RCH-LH-07. This drill hole, albeit showing relatively lower grades than drill hole RCH-LH-07, intersected another 200m interval of sulphide copper mineralization. Drill hole GBY005 was terminated at 408m in low grade copper-gold mineralization (10m @ 0.24% Cu to 404m) due to issues in penetrating a highly broken fault zone.

The sulphide copper mineralization intersected in the two holes reported here is similar to that reported previously from the Gaby target, in being dominantly pyrite-chalcopyrite and hosted in andesitic rocks. Minor oxide copper and interpreted chalcocite are present in the weathered zone of drill hole GBY004. The associated alteration indicates the mineralization is of a magnetite-dominated IOCG style.

The dip of the mineralization is not currently well constrained, but the initial drilling results suggest it is likely subvertical to steeply dipping. Both drill holes GBY004 and GBY005 were drilled with a dip of 60°, such that the true thickness of a vertical body would be approximately 50% of the downhole intersection length. Chirsposo drilling: Drilling within the current program at Gaby and Chirsposo is now complete.

Two holes were drilled at the Chirsposo target, located approximately 3km south of Gaby, to test for mineralization down dip from historic drilling, including hole CAB0006. Drillhole CAB0006 was a step-out by 200m under thin gravel cover (~25m), which yielded the best historic copper intersection at the target (82m @ 0.35% Cu and 19.2% Fe from 64m). The two holes at Chirsposo are now being logged, cut and sampled.

Notes on sampling and assaying Analytical samples were collected using 1/8 of the material from each 2m interval for the reverse circulation drilling or ½ HQ core for the diamond drilling and sent to ALS Lab in La Serena, Chile for preparation and then to ALS Labs in Santiago, Chile and Lima, Peru for analysis. Preparation included crushing the RC and core samples to 70% < 2mm and pulverizing 1000g of crushed material to better than 85% < 75 microns. All samples are assayed using 30g nominal weight fire assay with AAS finish (Au-AA23) and a multi-element four acid digest ICP-AES method (ME-ICP61).

Where the ME-ICP61 results were greater than 10,000 ppm Cu the assays were repeated with ore grade four acid digest method (Cu-OG62). The QA/QC procedure for this drilling program utilizes field duplicates, standards and blanks that comprise approximately 10% of the total samples submitted. The QA/QC results indicate good accuracy and precision in the assaying program.