A recent letter agreement sets the stage for Nebex Resources (NBX-T) to earn a 70% interest in three gold properties in southern Italy.
To earn the interest from the vendors, Nebex must spend $1 million on exploration over three years. The properties are situated in a historic mining district of Tuscany province and are believed to have similarities to “Carlin-Type” disseminated gold deposits.
Nebex says all the properties have evidence of epithermal silicification and alteration. Trenching on the Sandro property returned 2.2 grams gold per tonne over 7 metres, while limited drilling on the Pietricci property hit 23.5 grams gold over 17 metres and 2.9 grams over 16 metres.
Nebex plans to define drill targets on these properties and, at the same time, assess other prospects in the region. The company and its partners intend to apply for a fourth property in Tuscany province.
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