TORONTO, Sept. 8, 2021 /CNW/ - Nubian Resources Ltd.
(TSXV: NBR) ("Nubian" or the "Company") is pleased to announce that
Fender Geophysics has completed a 50-line km gravity survey on the
Company's Fosterville East property (EL006668) in the Central
Victorian Goldfields, Australia. The initial geophysical
campaign comprised five east-west and one north-south lines
utilizing existing road access where possible. Two lines
passed close to historic gold workings in the area.
Martin Walter, President and CEO
of Nubian stated, "We are pleased to have completed this
geophysical survey on our 60 square kilometre Fosterville East
exploration concession which lies only 18km east of Kirland Lake's Fosterville gold mine. The survey
results will be combined with soil sampling to identify drill
targets for a later drilling program. We look forward to
advising shareholders of the structural geological interpretation
of the gravity results over the next few weeks."
Geology
Kirkland Lake Gold's Fosterville mine with gold reserves of
2.6m oz (see https://www.kl.gold/) is
located approximately 18 km from the western boundary of the
Company's 100% owned Fosterville East property. The
exploration licence is bounded to the east by the west dipping
Mount William Fault, which also forms the boundary between the
Melbourne Zone to the east and the Bendigo Zone to the west. The
Bendigo Zone consists of a conformable sequence of Ordovician deep
marine quartz-rich turbidites, underlain by Cambrian sediments and
volcanics. It is these sedimentary sequences that host gold
at the Fosterville mine. The
Heathcote greenstone belt is on
the western side of the exploration licence.
QUALIFIED PERSON
The technical information contained in this news release
relating to the Fosterville East 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.
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.
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.
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 Nubian Resources Ltd.
