Tribeca Resources Signs Definitive Option Agreement to Acquire the Jiguata Porphyry Copper Property in Northern Chile

Core Viewpoint - Tribeca Resources Corporation has entered into a definitive option agreement to acquire a 100% interest in the Jiguata Porphyry Copper property in northern Chile, with plans for significant exploration activities over the next year [1][2]. Option Agreement Details - The option agreement spans 5 years, allowing Tribeca to acquire the Jiguata Property, which covers 10,000 hectares [1][5]. - An initial payment of US$25,000 has been made, with an additional reimbursement of approximately US$44,000 for the 2025 license fee [2][4]. - Total cash payments and work commitments are structured over the five years, with specific milestones including: - Year 1: US$75,000 - Year 2: US$125,000 and a minimum of 3,000 meters of drilling - Year 3: US$175,000 - Year 5: US$14,450,000 if the purchase option is exercised [3][4]. Exploration Potential - The Jiguata Property is located in a region known for significant copper deposits, near major mines such as Collahuasi and Quebrada Blanca [2][5]. - The property features a large exploration target zone of 5km x 3km, with two near drill-ready targets identified through soil sampling and geological mapping [3][6]. - Pre-drilling activities will include historic mapping, surface sampling, and additional geophysics [7]. Strategic Positioning - The acquisition of the Jiguata Property expands Tribeca's portfolio to three high-potential copper projects in Chile, enhancing its ability to capitalize on the growing interest in copper exploration [2][3]. - The company plans to conduct drilling at both the Jiguata and its flagship La Higuera Property in the coming months, indicating a period of high activity [2][3].