The RC drilling program was designed to test near surface targets demonstrated as being prospective from either reconnaissance soil sampling or shallow historic mining with a notable gold production history. A total of 20 holes for a total of 1,164 RC metres were drilled from four project locations. Geological logging of the RC chips shows the drilling intersected numerous quartz reefs down hole that vary from around one metre to several metres in width. The reefs near surface are completely weathered, however textural evidence demonstrates that some quartz fragments exhibit weathered sulphide mineralization. Pyrite alteration existing as a 'halo' is found surrounding many quartz intersections, a common feature of mesothermal gold deposits in central
The Company anticipates that the results of the RC drilling program will provide a greater understanding of gold endowments and distribution in EL5193 and throughout the Yandoit Goldfield, and the associated mineralization of related elements, including controlling fault geometries and their relationships with host lithology. The preliminary results are expected to be integrated with the upcoming diamond drilling data.
The Company plans to commence diamond drilling in the coming week beneath the historic
The diamond drill program is also expected to drill test below many of quartz reefs that were intersected in the just completed shallow RC program. A total of up to 2,000 metres of core drilling has been planned for this initial phase. For additional information, including photos, plans and geological sections of the drilling program please refer to the Company website at www.nubianr.com.
The Company also announces that the transfers of the adjacent EL6274 and mining licence (MIN5503) to BIPM are still waiting final authorization from Earth Resources Regulation,
QUALIFIED PERSON
The technical information contained in this news release relating to the
ABOUT NUBIAN
Neither the
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking information, including, without limitation, statements regarding the Company's planned use of and reporting of exploration results and data, is exploration plans and objectives, and obtaining the required government approvals for the transfer of EL6274 and MIN 5503 to BIPM. 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 obtaining required government approvals for license transfers, 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.
SOURCE
© Canada Newswire, source