Nobel Resources Corp (the “Company” or “Nobel”) has decided to withdraw from its option to acquire the Algarrobo project (the “Project”) in Chile. According to Vern Arseneau, COO of Nobel, “After completing an extensive drill campaign on multiple target areas and reviewing the data from the Project, we have concluded that although there remains some potential for a deep porphyry on the property, alteration assemblages suggest it is likely too deep and in an area with a very thick dune cover and as such unlikely to be an economically viable target.”
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