Calgary-based Nebex Resources (NBX-T) continues to receive encouraging assays from drilling carried out on its Munelle polymetallic property in north-central Albania.
Highlights from the first five holes are as follows:
* Hole 1 intersected 16.75 metres of stringer mineralization containing 1.79% copper, followed by 10 metres of massive sulphides grading 1.36 grams gold per tonne.
* Hole 2 cut 16 metres of stringer mineralization grading 1.65% copper.
* Hole 3 intersected 7 metres of fracture-controlled sulphides grading 1.95% zinc, 1.98 grams gold and 25.57 grams silver, and another 22 metres of massive sulphides grading 1.93% copper and 1.49 grams gold.
* Hole 4 cut 8.5 metres of stringer mineralization grading 0.44% copper, 2.02% zinc, 1.15 grams gold and 15.3 grams silver. The hole was stopped because of technical problems, but the mineralization that was intersected is believed to overlie a 20-metre-thick zone of massive sulphides.
* Hole 5 returned 28 metres of massive sulphides grading 2.6% copper and 1.4 grams gold. This mineralization is about 100 metres east of that which was hit in hole 4.
This year, Nebex plans to drill a total of 20 holes at Munelle, which is believed to be the largest of a string of deposits found on the Mirdita concession. The most recent government estimates peg the Munelle resource at 10 million tonnes grading 1.38% copper. Precious metal and zinc values have never been calculated.
Mirdita covers a 50-by-10-km belt of Jurassic-aged mafic to felsic volcanics. The area is known to host 14 volcanogenic massive sulphide deposits with an aggregate resource of 60 million tonnes grading 1.5% copper and 0.8 gram gold. Individual zones often grade between 3% and 8% copper and up to 15 grams gold.
Copper is the only metal to have been produced in the Mirdita district. The Albanian Geological Survey estimates the mineral inventory for the district at 180 million tonnes of minable copper ore.
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