Rugby Resources Commences Exploration at the Mantau Copper-Gold Project, Chile

Vancouver, B.C., April 10, 2024 (GLOBE NEWSWIRE) --  Rugby Resources Ltd., (“Rugby” or the “Company”) (TSX-V: RUG) is pleased to report that work has commenced at the Mantau iron oxide-copper-gold (“IOCG”) project in the Metallogenic - Coastal Belt near Antofagasta, northern Chile. This prolific “Mineral Belt” has a long history of mining and hosts sizable copper deposits linked both genetically and spatially to the Atacama Fault System. Manto-type copper-silver, porphyry copper and IOCG deposits are present in the district with Mantos Blancos and Antucoya being the closest large-scale active mines (Figure 1).

Rugby’s local Chilean geologist recently conducted a site visit to facilitate planning for a drone magnetic survey. A detailed rock sampling program will follow the drone survey to assess existing copper and gold targets identified by earlier reconnaissance programs. Systematic geochemical soil sampling is planned while access routes to existing high-priority drilling targets will be finalized.

 

Figure 1. Mantau project location showing major copper mines/deposits and fault structures.
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Yale Simpson, Rugby’s Chairman, stated: “The Mantau Project exhibits multiple features supportive of an IOCG geological environment. Located only 25 kilometres (“km”) from the recent ‘Marimaca Copper Discovery’ we believe there is considerable potential for a significant copper discovery at Mantau.

“We are employing our proven discovery methods and techniques at Mantau and other exciting targets found in our extensive project portfolio. We expect Rugby to have steady news flow in 2024 with expectation of encouraging developments to come at Mantau and elsewhere”.

Rugby’s Mantau project covers 4,500 hectares. It is located 70 km northeast of the regional capital Antofagasta and 40 km due north of the Mantos Blancos mine. The topography is undulating to moderately steep with elevations rising from 1,200 metres (“m”) to a maximum of 1,680 m (see Figure 2). Mantau is very accessible via both sealed and good-quality gravel roads. Exploration can be performed year-round.

Figure 2. Mantau project showing a mule path to artisanal mine workings (left photo) and geologists sampling mine dump (right photo).

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The Mantau project is dominated by Triassic tuffs overprinted by the Atacama Fault System. Widespread specular hematite and lesser albite occurrences are considered indicative of a possible IOCG system. Most of the area is covered by regolith mixed with caliche. Old artisanal mine workings are present providing for selected samples assaying up to 16.7% copper and 5.91 g/t gold (Figures 3 & 4) in an earlier reconnaissance program.