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TheStreet Open House

Nubian And Global Strike Further Gold At Excelsior

ABBOTSFORD, BC, Sept. 30, 2011 /PRNewswire/ - Nubian Resources Ltd (TSXV:NBR) is excited to announce that the company, who has a 30% retained interest in the Excelsior property in Nevada, in a recent exploration program conducted and managed by Global Geoscience, has intersected multiple zones of shallow, oxidised gold mineralisation over a minimum strike length of  2.2km. Significant intercepts areā€¦

GE08: 7.6m at 5.1g/t Au from 93.0m

GE14: 7.6m at 2.9g/t Au from 19.8m

GE02: 3.0m at 4.7g/t Au from 0m

GE19:   6.1m at 1.9g/t Au from 117.3m

GE15: 13.7m at 0.8g/t Au from 61.0m

Highlights

  • Mineralised gold zones extended and upgraded by wide-spaced drilling at the Excelsior gold project in Nevada, USA.
  • Maiden 3657m RC drilling by Global has intersected multiple zones of shallow, oxidised gold mineralisation over a total strike length of 2.2km.
  • The individual zones and the overall mineralised trend remain open along strike and at depth.
  • True width of the intercepts are not known at this stage
  • Geochemical/geological data indicate the mineralisation is part of a >9km long zone with no known drilling outside the area drilled by Global.
  • Follow-up infill drilling planned around the newly discovered zones and other targets along strike.

Excelsior Gold Project

The Excelsior gold project is located 300km southeast of Reno in southern Nevada, USA, in which Global Geoscience is earning a 70% interest in the project by spending $3 million on exploration over four years.

Excelsior is located in the Walker-Lane tectonic zone which hosts a number of large gold mines. Total gold production from the zone exceeds 20 million ounces with notable deposits including Goldfield (5Moz), Bullfrog (2Moz), Tonopah (2Moz), Mineral Ridge (1.5Moz) and Comstock (8Moz Au, 200Moz Ag).

Gold mineralisation at Excelsior occurs within an east-west trending zone that is 200-400m wide and at least 3km long. Exploration results indicate the presence of a large mineralised system where only one relatively small area (the Buster zone) had been tested by drilling previously.

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