Nubian Resources Ltd. (TSXV: NBR) announced today the assay result from 20 drill holes in the maiden drilling program at the company’s Yandoit Gold project in the Central Victorian Goldfields, Australia. The results highlighted the hole YRC008 yielding an intersect of 52.4 g/t gold over 2.0 metres.
“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,” said Nubian CEO Martin Walter.
The other 19 holes yielded grades less than 1.0 g/t gold. But in addition to drilling, the mining company is also conducting surface mapping of historic workings and sampling, producing 16 samples with grades ranging between 0.042 to 7.45 g/t gold and averaging 2.14 g/t gold.
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The firm also relayed that 1,164 metres of reverse circulation and 458 metres of diamond core has been completed to date at the Goldsmith and Golconda prospects within the property. The highlight result also “elevated gold mineralization demonstrated along a +550m trend at Goldsmith” prospect.
Nubian Resources last traded at $0.305 on the TSX Venture.
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