Highlights:
- 1.1m @ 2.3 g/t Au from 87.0m in GDD005 including 0.5m @ 3.97 g/t Au from 87.0m;
- 0.2m @ 2.04 g/t from 90.4m in GDD005;
- 2.9m @ 0.55 g/t Au from 17.4m in GDD006;
- GDD001 at Golconda returned 7.2m @ 0.95 g/t, including 2m @1.9 g/t Au from 198.2m and 1.1m @ 2.99 g/t;
- Surface rock assays returning up to 7.45 g/t Au; and
- Completion of 2,711 soil samples identifying numerous prospective areas.
The completed program 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.
Highlights from the drill holes disclosed in this release (GDD003 – GDD006) include 0.5m @3.97 g/t Au from 87.0m and 0.2m @ 2.04 g/t from 90.4m in GDD005. True thickness is interpreted to be greater than 60% of drilled thickness. Results and drill collar locations from the full program are provided in Tables 1 and 2 below.
2021 drilling and surface sampling results from Yandoit have highlighted the widespread presence of prospective quartz reef with laminated textures and sulphide content that provide encouragement for gold mineralization.
Bonanza grade gold occurs in the Goldsmith trend (Figure 2) up to 2m @ 52.4 g/t gold from 28m in hole YRC008 (previously reported in news release dated
Nubian has identified multiple drill targets on EL6274 in the west of the project area. The
The completed pXRF soil campaigns have identified dozens of potentially gold bearing locations. Final batches of soil identified as containing elevated arsenic have been screened and are in process of being delivered at the Genalysis Intertek assay laboratory to confirm arsenic anomalism and detect the value of gold. Interestingly, pXRF analysis of soil returned occasional silver which may contribute as a diagnostic in targeting and defining these newer prospect areas.
A final reconciliation of these soil results will be made once the results from the laboratory are completed.
Table 1 – Drilling Results from
RC or DD | From (m) | To (m) | Length (m) | Au (g/t) |
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 |
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 |
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 | |||
YRC018 | 34 | 36 | 2 | 0.16 |
56 | 62 | 6 | 0.19 | |
YRC019 | 24 | 28 | 4 | 0.28 |
YRC020 | 20 | 26 | 6 | 0.14 |
GDD001 | 211.00 | 218.20 | 7.20 | 0.90 |
GDD002 | No significant mineralization | |||
GDD003 | No significant mineralization | |||
GDD004 | No significant mineralization | |||
GDD005 | 87.00 | 88.10 | 1.10 | 2.30 |
GDD005 | 90.40 | 90.60 | 0.20 | 2.04 |
GDD005 | 90.85 | 91.70 | 0.85 | 0.30 |
GDD006 | 17.40 | 20.30 | 2.90 | 0.55 |
Note: True widths are presently unknown, but are estimated to be more than 60% of drilled width |
Table 2 - Drill Hole collar locations in EL5193,
Hole ID | Type | EAST MGA Zone 55 | NORTH MGA Zone 55 | Depth (metres) | Azimuth (degrees) | Declination (degrees) |
D001 | DD | 238899.8 | 5872900.0 | 21.5 | 69.04 | -69.04 |
SDD001A | DD | 238902.3 | 5872900.0 | 25 | 59.44 | -59.44 |
YRC001 | RC | 240508.3 | 5873568.8 | 54 | 70.8 | -57.9 |
YRC002 | RC | 240524.2 | 5873571.4 | 42 | 75 | -59 |
YRC003 | RC | 240530.2 | 5873574.2 | 26 | 67 | -58.5 |
YRC004 | RC | 240502.7 | 5873557.6 | 58 | 110.2 | -60 |
YRC005 | RC | 240511.6 | 5873558.7 | 48 | 108.2 | -58.6 |
YRC006 | RC | 240527.2 | 5873560.1 | 36 | 104.5 | -60.4 |
YRC007 | RC | 240488.2 | 5873347.8 | 54 | 95.6 | -59.9 |
YRC008 | RC | 240487.7 | 5873365.0 | 96 | 90.2 | -60 |
YRC009 | RC | 240481.3 | 5873358.7 | 98 | 90 | -70 |
YRC010 | RC | 240491.0 | 5873386.0 | 87 | 90 | -60 |
YRC011 | RC | 240881.2 | 5873906.5 | 48 | 87.9 | -61.2 |
YRC012 | RC | 240877.2 | 5873916.2 | 45 | 88.5 | -60.4 |
YRC013 | RC | 240875.1 | 5873934.3 | 93 | 86 | -63.3 |
YRC014 | RC | 240853.7 | 5873940.8 | 57 | 87.8 | -63 |
YRC015 | RC | 240864.8 | 5873992.4 | 57 | 90 | -60 |
YRC016 | RC | 240844.6 | 5873991.9 | 45 | 90 | -60 |
YRC017 | RC | 240852.2 | 5874076.9 | 48 | 90 | -60 |
YRC018 | RC | 240704.7 | 5874426.1 | 66 | 90 | -80 |
YRC019 | RC | 240699.8 | 5874396.1 | 70 | 97 | -82.4 |
YRC020 | RC | 240711.0 | 5874396.0 | 36 | 90 | -90 |
GDD001 | DD | 240555.5 | 5873193.7 | 230.4 | 151.3 | -77 |
GDD002 | DD | 240555.5 | 5873194.7 | 232.4 | 113.4 | -80.8 |
GDD003 | DD | 240529.5 | 5873900.0 | 62 | 90 | -60 |
GDD004 | DD | 240529.7 | 5873875.0 | 36 | 90 | -60 |
GDD005 | DD | 240507.6 | 5873875.0 | 96 | 90 | -70 |
GDD006 | DD | 240520.0 | 5873875.0 | 40 | 90 | -55 |
QUALIFIED PERSON
The technical information contained in this news release relating to the
TECHNICAL NOTES
RC and diamond drilling was completed by
ABOUT NUBIAN
Neither the
Caution Regarding Forward Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Nubian's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Although such statements are based on reasonable assumptions of Nubian's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in parameters of the Projects as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to the COVID-19 pandemic and current global financial conditions, increased competition, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to licenses and permits, financing, capitalization and liquidity risks and title and environmental risks.
The forward-looking information contained in this release is made as of the date hereof, and Nubian is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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