OTCQB | Nbrff Nubian Intersects 52.4 G/T Au over 2 Metres at Yandoit GOLD Project, Victoria, Australia
TSXV | NBR
OTCQB | NBRFF
NUBIAN INTERSECTS 52.4 G/T AU OVER 2 METRES
AT YANDOIT GOLD PROJECT, VICTORIA, AUSTRALIA
Toronto, Ontario, October 6, 2021 – Nubian Resources Ltd. (TSX-V: NBR | OTCQB: NBRFF) (“Nubian” or
the “Company”) is pleased to provide an update on work underway on its maiden drill program at the
Company’s Yandoit Gold P roject in the Central Victorian Goldfields, Australia. To date, 1 ,164 metres of
reverse circulation (“ RC”) and 458 metres of diamond core has been completed at the Goldsmith and
Golconda prospects. Assay results have been received from 20 holes including 2.0m @ 52.4 g/t gold in
hole YRC008. This result highlights the potential for exceptional high -grade gold at the Yandoit Gold
Project, consistent with the historical descriptions of production this under-explored goldfield.
Highlights from surface and drilling results at Goldsmith Line include:
• Bonanza grade gold from recent RC drilling returned 2m @ 52.4 g/t gold from 28m in hole YRC008
• Elevated gold mineralization demonstrated along a +550m trend at Goldsmith
• High grade surface rock chip samples up to 7.45 g/t gold
• Multiple quartz reefs mapped at surface
• Diamond drill testing beneath the Golconda Mine successfully completed, assays awaited
Martin Walter, President and CEO of Nubian stated, “The discovery of high grade gold in our first drill
program at Yandoit is very exciting, and justifies our thinking that this goldfield presents potential for a
major discovery. We have only tested a small part of the project, and look forward to drilling other reefs
as the permitting process progresses and winter conditions subside. I thank our local Victorian team for
delivering a safe and successful program during an unusually wet winter.”
Analytical results have been received from 20 RC holes as detailed in Table 1 with collar locations provided
as Table 2 and Figure 1. All holes intersected quartz veins, sulphide and structural zones that are indicative
of the reef positions targeted by historic mining. Gold mineralization in Central Victoria is “nuggety” in
style with low grade gold, pathfinder elements and quartz-vein texture important indicators for near -
mineralization intersections.
Table 1 - RC Drilling Results from Yandoit Project, Central Victoria above 0.1 g/t Au
Prospect Hole No. From (m) To (m Interval (m) Au (g/t)
Goldsmith North YRC001 46 48 2 0.19
YRC002 28 30 2 0.11
YRC003 20 22 2 0.24
YRC004 38 40 2 0.25
44 50 6 0.31
YRC005 34 38 4 0.12
YRC006 30 32 2 0.34
Goldsmith YRC007 38 43 5 0.92
YRC008 28 30 2 52.43
38 42 4 0.30
YRC009 42 48 6 0.21
YRC010 38 44 6 0.19
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Table 1 - RC Drilling Results from Yandoit Project, Central Victoria above 0.1 g/t Au
Prospect Hole No. From (m) To (m Interval (m) Au (g/t)
Froggets YRC011 No significant mineralization
YRC012 24 26 2 0.23
YRC013 No significant mineralization
YRC014 36 38 2 0.59
YRC015 24 28 4 0.13
YRC016 40 42 2 0.22
YRC017 No significant mineralization
Frenchmans YRC018 34 36 2 0.16
56 62 6 0.19
YRC019 24 28 4 0.28
YRC020 20 26 6 0.14
Note: True widths are presently unknown, but are estimated to be more than 60% of drilled width based on drill hole cross-sections
and surface geometry of the quartz reef.
Table 2 - Drill Hole collar locations in EL5193, Yandoit Project
Hole ID
EAST MGA
Zone 55
NORTH MGA
Zone 55 RL Depth
Azi grid
(degrees)
Declination
(degrees)
YRC001 240507.9 5873573 380 54 70.8 -57.9
YRC002 240522.5 5873577 380 42 75 -59
YRC003 240531.8 5873577 380 26 67 -58.5
YRC004 240507.5 5873563 380 58 110.2 -60
YRC005 240515.3 5873561 380 48 108.2 -58.6
YRC006 240527.2 5873560 380 36 104.5 -60.4
YRC007 240488.2 5873348 398 54 95.6 -59.9
YRC008 240487.7 5873365 402 96 90.2 -60
YRC009 240481.3 5873359 402 98 90 -70
YRC010 240491 5873386 402 87 90 -60
YRC011 240881.2 5873907 338 48 87.9 -61.2
YRC012 240877.2 5873916 349 45 88.5 -60.4
YRC013 240875.1 5873934 340 93 86 -63.3
YRC014 240853.7 5873941 34. 57 87.8 -63
YRC015 240864.8 5873992 347 57 90 -60
YRC016 240844.6 5873992 347 45 90 -60
YRC017 240852.2 5874077 347 48 90 -60
YRC018 240704.7 5874426 380 66 90 -80
YRC019 240699.8 5874396 380 70 97 -82.4
YRC020 240711 5874396 380 36 90 -90
GDD001 240555.5 5873194 382.5 225.5 151.3 -77
GDD002 240555.5 5873195 382 232.4 113.4 -80.8
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Figure 1: Drill locations for RC holes from Yandoit Project, Central Victoria.
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Figure 2: Map at Goldsmith including significant rock sample grades.
In addition to drilling, surface mapping of historic workings and sampling has continued. This program
has discovered numerous gold mineralized samples on dumps, wi th 16 samples taken that range from
0.042 to 7.45 g/t gold, averaging 2.14 g/t. In combination with drilling, the surface sampling has extended
the target at Goldsmith to over 500 metres in length. This sampling is in addition to that previously
reported (see press release dated April 29, 2021) that highlighted the presence of gold in sulphide that
was not recovered.
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The Yandoit Gold P roject is characteriz ed by the presence of multiple north -south striking quartz vein
systems, each spaced approximately 50 metres apart, marked by quart z float and abundant historic
workings. The current program has focused on the northern extension of the Goldsmith and Golconda
mines which were in production until approximately 1908, and were known for rich structurally controlled
shoots of free gold.
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 Mineral Projects. Mark Saxon is an Honours BSc graduate
in Geology from the Univ ersity of Melbourne, a Fellow of the Australasian Institute of Mining and
Metallurgy, and a Member of the Australian Institute of Geoscientists.
TECHNICAL NOTES
RC drilling was completed by Indicator Drilling Pty Ltd with a hole diameter of 95mm. Approximately 2kg
of sample was bagged on site and sent for assay per 2m of drilling. Wet conditions necessitated spear
sampling of bags. Alternating duplicates and certified reference materials were inserted as per industry
standard. Assays were complet ed by Intertek Genalysis in Adelaide using Fire Assay Digest and Mass
Spectroscopy analytical method.
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
or Bill Mitoulas at +1-416-837-7147 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.
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute forward -looking information. These
statements relate to future events or future performance. The use of any of the words "could", "intend",
"expect", "believe", "wil l", "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
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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 forw ard-looking information. Such
factors include risks inherent in 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.