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Nubian Intersects 52.4 g/t Au Over 2 Metres at Yandoit Gold Project, Victoria, Australia

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Nubian Intersects 52.4 g/t Au Over 2 Metres at Yandoit Gold Project, Victoria, Australia

 

 

 

 

 

Nubian Resources Ltd. (TSX-V: NBR) (OTCQB: NBRFF) is pleased to provide an update on work underway on its maiden drill program at the Company’s Yandoit Gold Project in the Central Victorian Goldfields, Australia.  To date, 1,164 metres of reverse circulation and 458 metres of diamond core has been completed at the Goldsmith and Golconda prospects.  Assay results have been received from 20 holes including 2.0m @ 52.4 g/t gold in hole YRC008.  This result highlights the potential for exceptional high-grade gold at the Yandoit Gold Project, consistent with the historical descriptions of production this under-explored goldfield.

 

Highlights from surface and drilling results at Goldsmith Line include:

 

  • Bonanza grade gold from recent RC drilling returned 2m @ 52.4 g/t gold from 28m in hole YRC008
  • Elevated gold mineralization demonstrated along a +550m trend at Goldsmith
  • High grade surface rock chip samples up to 7.45 g/t gold
  • Multiple quartz reefs mapped at surface
  • Diamond drill testing beneath the Golconda Mine successfully completed, assays awaited

 

Martin Walter, President and CEO of Nubian stated, “The discovery of high grade gold in our first drill program at Yandoit is very exciting, and justifies our thinking that this goldfield presents potential for a major discovery.  We have only tested a small part of the project, and look forward to drilling other reefs as the permitting process progresses and winter conditions subside.  I thank our local Victorian team for delivering a safe and successful program during an unusually wet winter.”

 

Analytical results have been received from 20 RC holes as detailed in Table 1 with collar locations provided as Table 2 and Figure 1.  All holes intersected quartz veins, sulphide and structural zones that are indicative of the reef positions targeted by historic mining.  Gold mineralization in Central Victoria is “nuggety” in style with low grade gold, pathfinder elements and quartz-vein texture important indicators for near-mineralization intersections.

 

Table 1 – RC Drilling Results from Yandoit Project, Central Victoria above 0.1 g/t Au

 

 

Prospect

Hole No. From (m) To (m) Interval (m) Au (g/t)
Goldsmith North YRC001 46 48 2 0.19
YRC002 28 30 2 0.11
YRC003 20 22 2 0.24
YRC004 38 40 2 0.25
44 50 6 0.31
YRC005 34 38 4 0.12
YRC006 30 32 2 0.34
Goldsmith YRC007 38 43 5 0.92
YRC008 28 30 2 52.43
38 42 4 0.30
YRC009 42 48 6 0.21
YRC010 38 44 6 0.19
Froggets YRC011 No significant mineralization
YRC012 24 26 2 0.23
YRC013 No significant mineralization
YRC014 36 38 2 0.59
YRC015 24 28 4 0.13
YRC016 40 42 2 0.22
YRC017 No significant mineralization
Frenchmans YRC018 34 36 2 0.16
56 62 6 0.19
YRC019 24 28 4 0.28
YRC020 20 26 6 0.14
Note: True widths are presently unknown, but are estimated to be more than 60% of drilled width based on drill hole cross-sections
and surface geometry of the quartz reef.

 

Table 2 – Drill Hole collar locations in EL5193, Yandoit Project

 

Hole ID EAST MGA

Zone 55

NORTH MGA

Zone 55

RL Depth Azi grid

(degrees)

Declination

(degrees)

YRC001 240507.9 5873573 380 54 70.8 -57.9
YRC002 240522.5 5873577 380 42 75 -59
YRC003 240531.8 5873577 380 26 67 -58.5
YRC004 240507.5 5873563 380 58 110.2 -60
YRC005 240515.3 5873561 380 48 108.2 -58.6
YRC006 240527.2 5873560 380 36 104.5 -60.4
YRC007 240488.2 5873348 398 54 95.6 -59.9
YRC008 240487.7 5873365 402 96 90.2 -60
YRC009 240481.3 5873359 402 98 90 -70
YRC010 240491 5873386 402 87 90 -60
YRC011 240881.2 5873907 338 48 87.9 -61.2
YRC012 240877.2 5873916 349 45 88.5 -60.4
YRC013 240875.1 5873934 340 93 86 -63.3
YRC014 240853.7 5873941 34. 57 87.8 -63
YRC015 240864.8 5873992 347 57 90 -60
YRC016 240844.6 5873992 347 45 90 -60
YRC017 240852.2 5874077 347 48 90 -60
YRC018 240704.7 5874426 380 66 90 -80
YRC019 240699.8 5874396 380 70 97 -82.4
YRC020 240711 5874396 380 36 90 -90
GDD001 240555.5 5873194 382.5 225.5 151.3 -77
GDD002 240555.5 5873195 382 232.4 113.4 -80.8

 

In addition to drilling, surface mapping of historic workings and sampling has continued.  This program has discovered numerous gold mineralized samples on dumps, with 16 samples taken that range from 0.042 to 7.45 g/t gold, averaging 2.14 g/t.  In combination with drilling, the surface sampling has extended the target at Goldsmith to over 500 metres in length.  This sampling is in addition to that previously reported (see press release dated April 29, 2021) that highlighted the presence of gold in sulphide that was not recovered.

 

The Yandoit Gold Project is characterized by the presence of multiple north-south striking quartz vein systems, each spaced approximately 50 metres apart, marked by quartz float and abundant historic workings.  The current program has focused on the northern extension of the Goldsmith and Golconda mines which were in production until approximately 1908, and were known for rich structurally controlled shoots of free gold.

 

QUALIFIED PERSON

 

The technical information contained in this news release relating to the Yandoit Gold Project has been approved by Mark Saxon, an advisor to Nubian, who is a “qualified person” within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.  Mark Saxon is an Honours BSc graduate in Geology from the University of Melbourne, a Fellow of the Australasian Institute of Mining and Metallurgy, and a Member of the Australian Institute of Geoscientists.

 

TECHNICAL NOTES

 

RC drilling was completed by Indicator Drilling Pty Ltd with a hole diameter of 95mm.  Approximately 2kg of sample was bagged on site and sent for assay per 2m of drilling. Wet conditions necessitated spear sampling of bags.  Alternating duplicates and certified reference materials were inserted as per industry standard.  Assays were completed by Intertek Genalysis in Adelaide using Fire Assay Digest and Mass Spectroscopy analytical method.

 

ABOUT NUBIAN

 

Nubian Resources Ltd. is a publicly traded precious and base metals exploration company listed on the TSX Venture Exchange. The Company is managed by a team of experienced mining and geological professionals. Nubian’s projects are focused in key mining jurisdictions in central Victoria and Tasmania, Australia and Peru.

 


Figure 1: Drill locations for RC holes from Yandoit Project, Central Victoria. (CNW Group/Nubian Resources Ltd.)

 


Figure 2: Map at Goldsmith including significant rock sample grades. (CNW Group/Nubian Resources Ltd.)

 

Posted October 6, 2021

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