With an expanded gold and base metal property in New Brunswick and three gold concessions in the Northwest Territories, Nebex Resources (ASE) is preparing for a busy spring and summer.
The company recently acquired the 3,500-acre Millstream property near Bathurst, N.B. The gold and base metal project hosts six small deposits with high grades over narrow widths. Ground previously acquired by Nebex covers the extension of a sequence of rocks which host a substantial lead-zinc orebody.
Meanwhile, on the 5,200-acre Northbelt gold property near Yellowknife, N.W.T., 11 holes were drilled in 1993 and at least 12 more are planned. Last year’s work was concentrated on the Shear 20 zone where elevated gold values were intersected in a 25-35-ft.-wide quartz-sericite-arsenopyrite schist. The zone was intersected 450-600 ft. below surface and the 700-ft.-long structure remains open at depth and along strike. A deep-penetration, induced-polarization (IP) survey has indicated several targets in addition to those found within Shear 20. At least four holes will be drilled to test new targets and the remainder will test the Shear 20 and NGX zones.
At the Walsh Lake gold property, also near Yellowknife, 10,000 ft. of drilling will begin following completion of an IP survey. Initial results indicate a 1,400-ft.-long anomaly.
Also, exploration on the Oro Lake gold project, north of the Giant mine near Yellowknife, will start in the summer.
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