New Drill Program Launches in Key Copper Corridor

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1. Disclosure for the quote from the John Newell article published on December 23, 2025

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2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Nobel Resources Corp. (NBLC:TSXV) reported the launch of its first-ever diamond drill campaign at the Cuprita copper project in northern Chile, representing the inaugural drilling on the property. The program is designed to test porphyry-style copper mineralization that was defined through a year of geological mapping and geophysical work.

The company said Cuprita is situated within Chile's Paleocene porphyry copper belt, a region that includes major producing mines such as El Salvador, Cerro Colorado, and Spence. Nobel's Chilean team documented widespread copper mineralization at surface, including in historic small-scale workings, supported by geochemical copper anomalies and induced polarization (IP) survey results.

Notable features at Cuprita include a broad leach cap and multiple tourmaline breccia zones, both commonly associated with porphyry copper environments. The property also lies within a structural corridor cut by secondary faults, comparable to settings seen at nearby deposits. Drill permits were secured in mid-October 2025, allowing the current program to proceed.

Larry Guy, Chairman and CEO of Nobel, stated in the release, "We are excited to commence 2026 with the initial diamond drilling campaign of the highly prospective copper porphyry targets at Cuprita. The work that the Nobel team has done outlines a compelling area with extensive copper mineralization and associated alteration at surface, with key characteristics typically associated with mineralized porphyry copper deposits in this region of Chile."

Copper Market Faces Rising Demand Amid Structural Supply Constraints

Copper entered 2026 near record levels after a strong rally the prior year. Mining.com reported on January 14 that copper reached an all-time high of US$13,310 per ton on the London Metal Exchange, following a 40% gain in 2025 and another 6% increase in the first two weeks of 2026. The price strength reflected growing demand from artificial intelligence and clean energy industries, alongside persistent supply concerns and geopolitical uncertainty.

In a same-day briefing, Ahead of the Herd noted that copper use is expanding well beyond traditional applications in construction, utilities, and transportation. The commentary emphasized copper's rising importance in battery storage, data centers, and AI infrastructure, where it is critical to power distribution, computing hardware, and transmission networks.

The report highlighted persistent supply challenges. The global copper market posted a deficit in 2025, and forecasts pointed to a tighter balance in 2026. Mine output was expected to rise by only 1.3%, below the long-term average of 2.5%. Exploration spending also weakened, falling below 3% of copper EBITDA in 2024 compared to more than 6% in the early 2010s. The briefing suggested that the supply gap could widen to 1.1 million tons by 2029 as new discoveries lag and competition for other critical minerals intensifies.

Sprott's January 15 outlook identified copper as a strategically vital metal, noting that "copper's momentum builds as supply shocks meet trade dislocation." The firm pointed to geopolitical fragmentation and resource nationalism as factors tightening global availability and creating regional imbalances.

Sprott further argued that copper markets are increasingly influenced by policy and supply chain security. With long lead times for new mines and historically low inventories, the industry has limited ability to respond quickly to rising demand. The report underscored copper's role in electrification, digital infrastructure, and national energy systems.

Analyst Highlights Chilean Copper Project as Key Near-Term Focus

¹In a December 23 report, John Newell of John Newell & Associates characterized Nobel Resources Corp. as a speculative opportunity, citing its four-project copper portfolio in northern Chile covering roughly 6,050 hectares. Each property shows copper mineralization at surface and lies within a premier copper-producing district.

Newell described Nobel's approach as "straightforward and disciplined," focusing on areas with prior exploration and favorable geology. He singled out Cuprita as the most important near-term asset, saying it exhibits "many of the classic hallmarks of a porphyry copper system," including surface copper oxides such as atacamite, chrysocolla, and brochantite, along with hydrothermal breccias, quartz stockwork veining, and alteration patterns consistent with low-pyrite porphyries.

Surface trenching produced rock chip results ranging from about 0.25% to over 3% copper. IP surveys also outlined chargeability and resistivity anomalies at approximately 200 meters depth that remain open along strike. Newell confirmed that drilling permits were granted in October and described Cuprita as fully drill-ready.

From a technical standpoint, Newell said Nobel's shares appeared to be emerging from a prolonged base. He suggested that a sustained move above CA$0.05 could allow tests of resistance at CA$0.07 and CA$0.08, and he cited an initial technical target of CA$0.15. At the time of writing, the stock was trading at US$0.045. Now, at the time of this article, the stock has met the first target. 

Drilling Into the Heart of a Copper Corridor

Nobel's investor presentation positions Cuprita as its top-priority exploration project within a well-established copper belt. The 1,000-hectare property lies roughly 120 kilometers north-northeast of Copiapó and 20 kilometers northwest of Inca de Oro, near producing mines with year-round road access.

Field mapping identified surface copper oxides, including atacamite, brochantite, and chrysocolla, as well as disseminated sulfides such as bornite and chalcocite. Elevated copper and molybdenum in soils further support a porphyry model, while an IP resistivity anomaly around 200 meters depth points to a possible buried target.

Beyond Cuprita, Nobel controls three additional copper projects in northern Chile (Janett, Pampa Austral, and Anais), bringing its total holdings to 6,050 hectares. Each property hosts surface copper mineralization, and under the acquisition agreements, Nobel can earn 100% ownership over time, beginning with US$20,000 per project annually in the first two years and rising to US$150,000 per project in year four. 

Ownership and Share Structure²

Management and Insiders hold 8.38% of Nobel Resources, led by Vernon Arseneau at 3.17% and Michael Lawrence Guy at 1.86%, with the balance held by retail investors.

Nobel has 161.68 million shares outstanding, 148.13 million in the free float, a market capitalization of CA$8.75 million, and a 52-week trading range between CA$0.02 and CA$0.07.