Nobel is presently looking to develop the Algarrobo copper project in Chile, located in the southern Atacama Desert, with the city of Copiapo located approximately 43 km to the southeast and the port at Caldera 25 km to the east. The property comprises a total of 6,710 hectares.
According to the company, the Algarrobo project hosts high-grade copper mineralization with exploration and development potential for significant expansion that is consistent with an iron oxide-copper-gold deposit (IOCG) along the western margin of both the Chilean Iron Belt and the Atacama Fault Zone.
The Cerro Negro Norte iron deposit, having and similar structural setting and possible associated IOCG-style mineralization, is located approximately 15 km east of the Algarrobo project.
The major Candelaria copper-gold-silver mine — owned 80% by Lundin Mining and 20% by Sumitomo — is located 60 km south of Copiapo with similar geology to Algarrobo.
