TORONTO, June 8, 2021 /CNW/ - Nubian Resources Ltd.
(TSXV: NBR) ("Nubian" or the "Company") is pleased to announce the
commencement of diamond drilling at its Yandoit Gold Project (the
"Project") within the Central Victorian Goldfields,
Australia. This maiden drilling program will target seven
locations within the Project area along a north south trending gold
mineralized corridor defined by historical mine shafts and
workings. Targets have been defined by a combination of
recent geophysical surveys, soil geochemistry and geological
mapping alongside past mine production records.
![Nubian Resources Ltd. Logo (CNW Group/Nubian Resources Ltd.) Nubian Resources Ltd. Logo (CNW Group/Nubian Resources Ltd.)](https://mma.prnewswire.com/media/1528839/Nubian_Resources_Ltd__Nubian_Begins_Maiden_Drilling_Program_at_I.jpg)
Drilling shall begin at the North Sardinia Prospect which
consists of at least four major gold bearing reefs that were
exploited and last mined around the 1860's. Drilling is
planned to test these reefs at depth and to expand on known gold
mineralization in the area. Mapping and sampling by Nubian
has highlighted the prospectivity of North Sardinia, and revealed significant
quantities of gold within sulphide that was not recoverable when
mining previously occurred (see press release dated 29th
April 2021).
"This is very good news for Nubian and its shareholders and
congratulations go to our very experienced geological team working
at Yandoit. The Yandoit Gold Project lies within the heart of
the Central Victorian Goldfields, surrounded by multi-million-ounce
gold producers like Bendigo, Ballarat and Fosterville. We are
testing numerous gold targets at our Sardinia and Golconda prospects, and look
forward to advising shareholders of the drilling results over
coming months," stated Martin
Walter, Nubian's President and CEO.
In other news, the Company announces the appointment of Venture
North Capital Inc. of Toronto for
investor relations services. The contract provides for an
initial term of three months at $7,500 per month and the grant of 188,000 stock
options to purchase common shares of Nubian at $0.435 per share for a period one year, such
options vesting one-quarter per quarter over a one year period.
The Company confirms that Venture North Capital is an
arm's length party and that the contract and grant of stock options
are subject to the approval of the TSX Venture Exchange.
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. 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 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.