Mar 9, 2021
 in 
Precious Metals

Nubian (TSX.V: NBR) Exploration Update – Victoria, Australia

Nubian Resources (TSX.V: NBR) has provided an update on their Yandoit Gold Project located  70 km southwest of the Fosterville Gold Mine which is owned and operated by Kirkland Lake (TSX: KL. Market cap: $15.28B)

Kirkland Lake’s (TSX: KL) Fosterville Gold Mine is a high-grade, low cost underground gold mine. Fosterville commenced operation in 2005 and during its initial years, produced gold from near-surface, low-grade mineralization. A major inflection point was achieved in 2015 with the discovery of the Eagle zone, containing high-grade visible-gold bearing mineralization, which resulted in a significant improvement in the mine's overall Mineral Reserve grade, production profile and unit cost performance. For the year 2019, Fosterville produced 619,366 ounces @ 39.6 g/t gold.

Nubian Resources Ltd. has provided an update on the first phase of exploration work at its Yandoit gold project located in the Central Victorian goldfields in Victoria, Australia. Exploration has focused on the Sardinia Reef where historic workings trend for more than two kilometres in strike, with 10 drill targets now prioritized.

Fourteen line kilometres of deep ground penetrating radar (DGPR) was completed across three gold targets. DGPR surveying is a preferred geophysical tool for mapping of quartz reefs and structure and in the Central Victorian goldfields as it does not respond to carboniferous shales which are problematic in other geophysical survey types.

A total of 1,197 soil samples have been collected to date and analyzed utilizing a portable x-ray fluorescence spectroscopy (pXRF) device. Prior studies indicate arsenic (As) works as a suitable pathfinder element for gold in the Central Victorian goldfields, and as an exploration tool, the pXRF technique provides acceptable accuracy, precision and repeatability. From the 1,197 samples collected to date, pXRF As ranges from below detection (three parts per million) to 697 ppm with an average of 11 ppm and median of eight ppm.

Nubian has implemented QA/QC (quality assurance/quality control) procedures which include regular use of standard samples, and 10 per cent of samples sent to Gekko Systems in Ballarat for ICP cross-check assay. Based on ICP data the pXRF analyses of homogenized soil are considered qualitatively reliable for arsenic, but should not be relied upon as there are inherent uncertainties in the technique. Laboratory assay results provide a more accurate and reliable grade estimate of the samples.

In addition to soil sampling, samples of sulphide-bearing quartz vein material previously extracted from the historic Golconda mine area are being analyzed for gold and pathfinder elements, and these results will be used as a guide for future drilling and geophysical programs.

Data from the DGPR geophysical survey, along with ground mapping and soil sampling, have identified numerous drill targets. A program of 10 core drill holes is planned to test the highest priority gold targets generated from the geophysical and geochemical (soils) results, centred around historically mined quartz reef and vein structures.

Martin Walter, president and chief executive officer of Nubian, commented: "The DGPR survey points to a number of strong drill targets, and this result combined with mapping and soil geochemistry, provides us with confidence in our planned drilling program. Additional work to be undertaken during March will provide the company with important geological and geophysical data to further define drill targets at Yandoit and facilitate an expanded drilling program planned for early in the second quarter of 2021."

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