Nebex steps up efforts in Albania

Seven copper-zinc-gold targets have been identified on one of two Albanian mining concessions recently obtained by Nebex Resources (ASE).

President Brian Douglas says two immediate drill targets have been selected: one in an area where an Albanian-drilled hole intersected 4 metres of 3.02% copper; and another where Albanian drilling encountered high-grade zones, including one hole grading 9.9% zinc over six metres.

Exploration, including drilling, will begin shortly.

Targets identified on the 400-sq.-km Mirdita concession include: the downdip extension of a producing copper-zinc-gold mine; the relatively unexplored, 17-km strike length of the southern extension of the volcanic belt (which is host to all the major past- and present-producing copper-zinc-gold mines in the area); and a disseminated sulphide belt which may host a low-grade gold deposit.

Seven of the 14 known deposits in the Mirdita concession are operational but are producing base metals at less-than-optimum rates.

At the 204-sq.-km Kukes concession, Nebex is carrying out stream sediment-sampling to develop gold targets. The concession includes two lateritic nickel deposits reported to contain a total of 15 million tons grading 1% nickel.