Nubian and Global strike further gold at Excelsior
Sep 30, 2011, 01:44 ET
ABBOTSFORD, BC, Sept. 30, 2011 /PRNewswire/ - Nubian Resources Ltd (TSXV:NBR) is excited to announce that the company, who has a 30% retained interest in the Excelsior property in Nevada, in a recent exploration program conducted and managed by Global Geoscience, has intersected multiple zones of shallow, oxidised gold mineralisation over a minimum strike length of 2.2km. Significant intercepts are…
GE08: 7.6m at 5.1g/t Au from 93.0m
GE14: 7.6m at 2.9g/t Au from 19.8m
GE02: 3.0m at 4.7g/t Au from 0m
GE19: 6.1m at 1.9g/t Au from 117.3m
GE15: 13.7m at 0.8g/t Au from 61.0m
- Mineralised gold zones extended and upgraded by wide-spaced drilling at the Excelsior gold project in Nevada, USA.
- Maiden 3657m RC drilling by Global has intersected multiple zones of shallow, oxidised gold mineralisation over a total strike length of 2.2km.
- The individual zones and the overall mineralised trend remain open along strike and at depth.
- True width of the intercepts are not known at this stage
- Geochemical/geological data indicate the mineralisation is part of a >9km long zone with no known drilling outside the area drilled by Global.
- Follow-up infill drilling planned around the newly discovered zones and other targets along strike.
Excelsior Gold Project
The Excelsior gold project is located 300km southeast of Reno in southern Nevada, USA, in which Global Geoscience is earning a 70% interest in the project by spending $3 million on exploration over four years.
Excelsior is located in the Walker-Lane tectonic zone which hosts a number of large gold mines. Total gold production from the zone exceeds 20 million ounces with notable deposits including Goldfield (5Moz), Bullfrog (2Moz), Tonopah (2Moz), Mineral Ridge (1.5Moz) and Comstock (8Moz Au, 200Moz Ag).
Gold mineralisation at Excelsior occurs within an east-west trending zone that is 200-400m wide and at least 3km long. Exploration results indicate the presence of a large mineralised system where only one relatively small area (the Buster zone) had been tested by drilling previously.
Since entering into an agreement on the Excelsior project in March 2011, Global ( GSC) has completed extensive surface work including a three square kilometre Induced Polarization (IP) geophysical survey, geological mapping, re-logging drill chips and the collection of more than 1200 surface geochemical samples.
GSC recently completed a 3657m program of reverse circulation (RC) drilling. The main aim of the program was to test for extensions and repetitions to the mineralisation intersected in previous drilling by other exploration companies at the Buster zone. A total of 23 holes were completed over a strike length of 2.2km.
Holes were generally drilled along north-south fences with 50-70m between holes and 100-600m between fences. All holes were drilled at 60 degrees dip towards grid north to a depth of between 100-220m. Water was injected during the drilling although all of the sample slurry was collected after splitting through a rotary cyclone splitter. Samples of between two and ten kilograms were collected every 1.5m of hole length and dispatched to American Assay Laboratories in Reno for gold fire assay by method FA30.
Quality control included the collection of one in twenty duplicate samples dispatched to the same laboratory and one in thirty samples sent to ALS Minerals in Reno and analysed for gold using a comparable fire assay method (method Au-AA23). Duplicate and repeat assaying gave an acceptable repetition of gold grades however some spottiness was noted.
Ken Brook, B.Sc, M.Sc, RPG. a qualified person (QP) as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
A full discussion of these results can be seen on our website at www.nubianr.com
CEO of Nubian Larry Treadgold comments: "These results strengthen our view that Excelsior represents a large and extensive mineralised system that until now has gone largely unnoticed.
This release includes certain statements that are "forward-looking statements". All statements in this release, other than statements of historical facts that address future exploration, development and production activities, and other circumstances, events and developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results, events and developments may differ materially from those in the forward-looking statements. The occurrence of certain risk factors, the probability of which is unknown, may also affect actual results, events and developments expected by the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nubian Resources Ltd.
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