Nubian Announces Metallurgical Characterization Results FOR Yandoit GOLD Project, Victoria Australia
TSXV | NBR
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NUBIAN ANNOUNCES METALLURGICAL CHARACTERIZATION RESULTS FOR
YANDOIT GOLD PROJECT, VICTORIA AUSTRALIA
Toronto, Ontario, April 29, 2021 – Nubian Resources Ltd. (TSX-V : NBR) (“Nubian” or the “Company”) is pleased
to release metallurgical characterization results from rock chip samples gathered from mine dumps associated
with the historic Goldsmith mine at Yandoit, Central Victorian Goldfields, Australia. The 38 square
kilometre Yandoit Gold Project is situated in the Daylesford gold corridor.
Six samples, consisting of sulphide -bearing quartz were sent to Gekko Laboratories in Ballarat, Victoria for
metallurgical characterization and gold recovery determination. Visible gold was not present in any sample, and
consequently all rocks were regarded as waste and discarded during historic production. The metallurgical work
was undertaken to assist in the design of a processing circuit to extract gold from Yandoit in a potential future
mining operation.
The samples are considered typical of sulphide-mineralized quartz, mined but discarded as barren during historic
mining at Yandoit. Similar s amples are found on surface dumps around the four sub -parallel gold reef systems
discovered to date (Sardinia, Graveyard, Golconda and Welcome Line ) which are the focus for the Company’s
upcoming maiden drill program. All samples correlate with areas of anomalous arsenic in soil sampling. Mapping
of the Welcome, Graveyard and Sardinia reefs suggests they are lateral extensions or splays off the Golconda and
Goldsmith reefs that were the two dominant historical gold mines.
The six samples were crushed and processed by gravity separat ion at Gekko to produce heavy mineral
concentrates. These concentrates were assayed for gold, silver and arsenic (arsenic being a well-known
pathfinder for gold).
High gold grades were identified in all concentrate samples, despite free gold not being visible, indicating the likely
presence of gold within sulphide. Gold recovery from the six concentrate samples are as follows:
Sample
Mass Yield Gold Distribution Other Elements
grams %
Cumulative Gold
Distribution
Cumulative
Distribution
Cumulative
Gold Arsenic Silver
% ppm % % ppm ppm ppm
Con 1 27.8 5.2 5.2 67.0 11.9 11.9 67.0 12,704 163
Con 2 26.7 5.0 10.2 39.4 6.7 18.6 53.5 12,483 70
Con 3 18.5 3.5 13.7 37.2 4.4 23.0 49.4 11,756 38
Con 4 123.3 23.1 36.8 25.1 19.7 42.8 34.1 7,404 17
Con 5 120.1 22.5 59.3 18.4 14.1 56.8 28.1 2,808 14
Con 6 217.4 40.7 100.0 31.1 43.2 100.0 29.4 2,238 23
Calculated
Feed 5.3 100.0 29.4 100.0 4,947 30
The weighted average grade from the six concentrate samples produced from rock chips was 29.36 g/t and 30 g/t
Ag. This preliminary testwork suggests a substantial amount of gold may be present within sulphide, that was not
recoverable within historic mining o perations. G ravity combined with flotation may be very effective for the
Yandoit Gold Project in the future to produce a bulk concentrate for sale or further treatment. Detailed test work
from drill core samples along with bulk sampling is required to confirm these results, determine the distribution
of gold between free and sulphide-hosted, and determine the quantity of sulphide in quartz veins.
“We are very pleased to see such high gold grades within sulphide concentrates from Yandoit ,” commented
Martin Walter, President and CEO , who added, “This is invisible gold that was missed by early miners who only
had the technology to extract free gold from quartz veins. These results while only performed on a modest scale
are important as they show gold can be easily liberated and that good recoveries can be achieved at the Yandoit
Gold Project through the use of simple convention al gold extraction processes. While more work remains to be
done these results provide an early indication on what the project’s metallurgical future flow sheet might look
like.”
QUALIFIED PERSON
The technical information contained in this news release relating to the Yandoit 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 M ineral 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.
For further information, please contact Martin Walter, Chief Executive Officer, Nubian Resources Ltd., at +1-416-
389-5692 or [email protected].
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.
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