Diamond Drilling After Completion Of Maiden RC Drilling Program At Yandoit Gold Project, Victoria, Australia
TORONTO - Nubian Resources Ltd. reported that initial Reverse Circulation ("RC") drilling program at its Yandoit Gold Project and across Exploration License 5193 (or "EL5193") located in the central Goldfields of Victoria, Australia has been completed. The Company has now deployed a diamond drilling rig at the project capable of drilling deeper diamond core.
The RC drilling program was designed to test near surface targets demonstrated as being prospective from either reconnaissance soil sampling or shallow historic mining with a notable gold production history. A total of 20 holes for a total of 1,164 RC meters were drilled from four project locations. Geological logging of the RC chips shows the drilling intersected numerous quartz reefs down hole that vary from around one meter to several meters in width. The reefs near surface are completely weathered, however textural evidence demonstrates that some quartz fragments exhibit weathered sulphide mineralization. Pyrite alteration existing as a 'halo' is found surrounding many quartz intersections, a common feature of mesothermal gold deposits in central Victoria. Approximately 276 meters of drilling was logged as containing equal to or greater than 20% quartz, and approximately 132 meters were logged as containing 80% or greater quartz. Assays are now pending for all holes and results will be announced when the assays are received and reviewed by the Company. All information gathered is expected to be utilized by the Company to build a geochemical and structural model for the Yandoit Goldfield to better manage further regional exploration efforts.
The Company anticipates that the results of the RC drilling program will provide a greater understanding of gold endowments and distribution in EL5193 and throughout the Yandoit Goldfield, and the associated mineralization of related elements, including controlling fault geometries and their relationships with host lithology. The preliminary results are expected to be integrated with the upcoming diamond drilling data.