Alberta-listed Nebex Resources will earn interests in two polymetallic concessions in Albania.
The Calgary-based junior chose to work in the European country because of the abundance of natural resources and because of legislation aimed at attracting foreign investment.
By spending US$2.25 million over the next four years, Nebex can earn an 80% interest in these areas.
In the north-central region of the country, it has optioned the 400-sq.-km Mirdita concession. The property is underlain by a belt of Jurassic-aged, mafic-to-felsic volcanics and hosts 14 known massive sulphide deposits comprising 64 million tonnes of ore. Individual massive sulphide zones average between 3% and 5% copper and contain gold values of up to 3 grams per tonne. Seven of the known deposits are operational but are producing base metals at less than optimum rates.
Nebex will work closely with the Albanian State Geological Survey to explore this concession for zinc and gold deposits.
Nebex can also earn an interest in a 184-sq.-km property within the Kukesi mining district of northeastern Albania. The concession is underlain by basic-to-ultrabasic intrusives which contain several chromite deposits. Here, Nebex intends to explore for copper, nickel and platinum deposits.
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