Rugby Resources Locates in-situ Copper Mineralisation on the Cobrasco East Copper Discovery, Colombia

Vancouver, B.C., July 11, 2023 (GLOBE NEWSWIRE) -- Rugby Resources Ltd. (“Rugby” or the “Company”) (TSX-V: RUG) is pleased to report that a follow-up exploration program has commenced at the Cobrasco East porphyry discovery.

The field team has already located an in-situ outcrop of mineralised rock in one of several west draining creeks (the recovered samples shown below, in Figure 1).

Figure 1 – Examples of in-situ copper mineralised porphyry and float located 2.3 km east
of the main Cobrasco drilling area.

Click here for a high-res image.

Yale Simpson, Rugby’s Chairman commented: “These spectacular rocks come from an area located approximately 2.3 kilometres (“km”) east of our discovery holes. At this stage we know very little about this new eastern area having only visited it once before in a previously announced reconnaissance program completed in May.

“Exploration at Cobrasco began last year in May and it has primarily focused on the area surrounding our first two drill holes (Cobrasco Central). Clearly this was a good decision as we made a significant copper discovery in these first two holes:

*CDH001: 82m at 0.90% Cu and 199 ppm Mo within 808m of 0.42% Cu and 79 ppm Mo from 184m and;

*CDH002: 172m of 0.78% CuEq within an interval of 754m of 0.50% CuEq from 152m. A near surface mineralised zone of 70m of 0.32% CuEq was intersected from 18m.

* See News Releases dated October 31, 2022 and January 17, 2023.

“This new area could be a whole new porphyry target zone separate from our existing copper discovery at Cobrasco Central. The Cobrasco East area falls well outside of our existing auger soil sampling grid and this program has only scratched the surface on this extensive Cobrasco system!”

The mineralised unit is a fine grained tonalite (Figure 1) that outcrops along a 10 metre (“m”) section of creek bank and in what appears to be further float and subcrop exposures over an area of 1,000m x 700m. The tonalite occupies the centre of a “magnetic low” feature (Figures 2 & 3).

The mineralisation appears to be related to bornite-chalcopyrite mineralisation in a structurally controlled fault zone as hydrothermal (sulphide) veining, brecciation and fracture-fill with abundant copper oxide (malachite) dispersion halos central to the veining.

Figure 2 - Location of original mineralised float. The base image is RTP magnetics with the blue colour representing a magnetic low.