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Monday, December 20, 2010

Junior Gold Drilling A Hot Area


THE COMPANY- NEBU RESOURCES INC - NBU:TSX-V
   Nebu is a junior resource company focused on gold exploration in Ontario. The Company’s properties lie in three distinct areas: West Timmins, Burntbush, and Quest Lake. The Timmins West properties have great potential for a large find. They lie on, or in close proximity to, the Porcupine Destor Fault, host of Lake Shore Gold’s 812,000-ounce West Timmins gold deposit and its Thunder Creek highgrade discovery.
Nebu Resources Inc. has begun diamond drilling at its Beehive property in the Timmins Gold Camp in Ontario. The Beehive property comprises 11 patented mining units (440 acres) in the Timmins Mining Camp, and lies to the north of the Nabob mine currently being explored by Metals Creek and Goldcorp (see map next page).The program, which will cover about 3,000 metres over six holes, will focus on the potential of the southwestern part of the property to host the extension of the gold mineralized zone extending from the southeast at the Naybob mine.A secondary target is exploration of the potential along strike from two historic gold mines: Desantis (Lateegra Gold Corp.) and McEnaney (former Hollinger Reserve Property), which are located to the west of Beehive’s western boundary.

The Timmins area properties, collectively known as “The Timmins West Properties”, are essentially encircling, within 15 kms, the high grade results reported by West Timmins Mining Inc. and Lakeshore Gold Corp. and the Nebu properties includes a number of historic gold occurrences that also have never been tested at any significant depth. The Burntbush properties are located approximately 30 kms west of the Casa Berardi Deformation Zone, located just over the border in western Quebec.

Nebu Resources Inc. (TSX VENTURE: NBU) "Nebu" is pleased to announce the commencement of diamond drilling on its Beehive Property in the prolific Timmins Gold Camp. Drilling begins today, November 10, 2010.
NPLH Drilling Ontario Corporation has been awarded the surface diamond-drilling contract for approximately 3000 meters of NQ diamond drilling over 6 holes.
The primary focus of the initial drilling program is the evaluation of the gold potential of the southwestern portion of the property to host the extension of the gold mineralized zone extending from the southeast at the Naybob Mine currently being explored by Metals Creek and Goldcorp.
The secondary target is to explore the potential along strike from the historic Desantis and McEnaney gold mines located to the west of the west boundary of the Beehive property.
The Beehive Property consists of 11 patented mining units in the Timmins Mining Camp for a total of approximately 440 acres and lies immediately to the north of the Nabob (Kennilworth) mine which operated between 1932 and 1964 producing just over 50,000 ounces of gold and is reported to still host a resource of 135,500 tons grading 0.25 ounces gold per ton (8.6 g/t Au) in the North Zone and 600,000 tons grading 0.20 ounces gold per ton (6.9 g/t Au) in the South Zone.
Bruce Durham, P.Geo., a qualified person under NI-43-101 reviewed this release and is the person responsible for the technical information contained in this release. All technical data in this release is of a historical nature and has not been verified by a Qualified Person.
Nebu currently has 50,998,976 common shares issued and outstanding. www.neburesources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Nebu Resources Inc. R. Brian Murray President & CEO (416) 985-7810 Nebu Resources Inc. John V. Hickey CFO (416) 903-6649 www.neburesources.com Current Market Communications Clark Kent (647) 519-2646
SOURCE: Nebu Resources Inc.
http://www.neburesources.com

2 comments:

  1. Up about 40% so far today and bids are getting bigger. I think this has a long way to go and is trading well below its true value considering its land and its current drill program. As always do your own due diligence before investing in any stocks.

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  2. Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Options 11 - Acquisition carried out privately 257,812 $0.160
    Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Options 00 - Opening Balance-Initial SEDI Report
    Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Warrants [Amended Filing] 11 - Acquisition carried out privately 1,718,750 $0.250
    Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Warrants 00 - Opening Balance-Initial SEDI Report
    Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Common Shares 11 - Acquisition carried out privately 3,437,500 $0.160
    Dec 16/10 Dec 14/10 Joe Dwek Management Consultants 2007 Inc. Control or Direction Common Shares 00 - Opening Balance-Initial SEDI Report

    ReplyDelete