Nubian Resources (NBR) - Multiple high-grade Gold Projects Catch the Eye

Nubian Resources is a Canada-based precious and base metals exploration company. The Company's projects include Esquilache Polymetallic Project, Yandoit Project, Fosterville East Project, Mathinna and Lefroy Project and the Dunfee Project.

We spoke to Martin Walter, CEO of Nubian Resources about their projects and their plans going forward.

Company Overview

Nubian has put together a number of projects in Australia, Nevada, and Peru. Australian born CEO Martin Walter spent the first 4 to 5 years of his career in Western Australia as a geologist focussing on Nickel and Gold. After that, he travelled to South America and became an exploration geologist in the Andes of Peru, Ecuador, and Argentina. He was involved with Aquiline Resources, a Silver company which developed a large Silver deposit called Navidad in Argentina. Aquiline was then sold to Pan American Silver in 2011 for CAD$700M. Since then, Walter has lived in Toronto and was the CEO of Treasury Metals until he got started with Nubian Resources in 2015.  

Eric Sprott recently became a shareholder and Nubian is now fully funded ready to go forward. They have CAD$4.5M-CAD$5M cash in the bank which will enable their 2021 drilling programmes. Nubian has completed the acquisition of Fosterville East in Victoria and paid out the remaining payments on their Silver project in Peru.  

Time to Start Drilling

All of Nubian's projects are drill-ready. 2020 was a year for Nubian to acquire and put the projects together. Looking forward to 2021 - 2022, this is when drilling will commence. 

The 2 Australian projects, Yandoit and Fosterville East, have never been drilled so both these projects will be the first targets for Nubian. 

At Yandoit, they have 8km of Gold reefs that are at surface, plus they have the added benefits of prior mapping and some historical mines. There are 6 historical mines at Yandoit which informs where they will be targeting the first drill programme. 

They will spend CAD$1M at Yandoit which will initiate a 5,000m-10,000m drilling programme across the project. At Fosterville East, they need to complete the geophysics before they can plan drilling. At Esquilache in Peru, they've completed 2 drilling programmes with 36 shallow holes but with many targets remaining, they will need to commence another drill programme. That project is now 100% owned by Nubian which has given them the green light to be able to carry out these programmes, although they are still awaiting on exploration permits in Peru.

Drilling at Esquilache will be a little deeper than that what was done at Yandoit. Here they will be testing theories at depth due to the big alteration system which is full of mineralisation with many breccias. There are lots of targets, so they plan to spend between CAD$1.5M and CAD$2M there.

Differentiating & Catching the Market's Attention

Nubian plan to post a mineral resource at Yandoit and Esquilache. Another drill programme at Esquilache will get them to the point where they can bring out a decent, healthy resource of Silver during 2021. At Yandoit, because of these historical mines and workings, they're hoping a good 4,000m-6,000m of drilling will post a decent initial mineralisation and resource calculation on the project. Also, if they make a discovery on their Fosterville East project, there will be a lot to talk about by the end of 2021.

Plans for the Projects: Options & Timelines

Nubian has entered into an option agreement with Athena Silver to acquire 100% of Nubian's Excelsior Springs exploration project located in Esmeralda County, Nevada, USA. Nubian shareholders will get a share allotment of Athena Silver which will happen sometime in Q1 2021. This is something they would consider for their other projects when the timing is right. They also have the Mathinna and Lefroy projects in Tasmania which have had significant historical mining. If they have success at Yandoit, Fosterville East, and at Esquilache, then drilling will commence on these projects too.

Going forward for Nubian, it’s all about the drilling and where they plan their next drill programmes. It will be interesting to see which projects they chose to progress and in which order. With plenty of projects and a number of drill targets to hit, we look forward to seeing what is in store for 2021.

To find out more, go to Nubian Resources Website.