Nubian Completes Gravity Survey at Fosterville East Gold Project, Victoria, Australia
Nubian Completes Gravity Survey at
Fosterville East Gold Project, Victoria,
Australia
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.
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For further information:
Martin Walter, Chief Executive Officer, Nubian Resources Ltd., at +1-416-
389-5692 or [email protected] or Bill Mitoulas at +1-416-837-7147 or
CO: Nubian Resources Ltd.
CNW 07:00e 08-SEP-21