Calgary-based Nebex Resources (NBX-T) is encouraged by results from the first hole drilled on its Munelle polymetallic deposit in north-central Albania.
Late last year, the company received government approval to explore the deposit, which contains copper, zinc, gold and silver values.
Hole 1 intersected three zones of mineralization, returning: 0.32 gram gold per tonne and 1.47% copper over 12 metres (from 344 to 356 metres); 0.1 gram gold and 1.8% copper over 16.3 metres (from 372.7 to 389 metres), including a 5-metre section grading 3.44% copper and 0.13 gram gold; and 1.27 grams gold and 0.26% copper over 11 metres (from 389 to 400 metres).
No significant concentrations of lead, zinc or silver were found in the samples analyzed.
The ongoing work is being funded by way of a $1.9-million private placement.
At last report, Munelle contained about 10 million tonnes grading 1.38% copper. Silver, gold and zinc grades have yet to be calculated.
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