Nebu Resources
Nebu Resources Inc. is a junior exploration company currently focused on gold exploration projects in Ontario, Canada, specifically in the West Timmins Area and in Burntbush, Ontario. Nebu controls 7 non-contiguous properties covering 6,500 acres in the West Timmins mining camp and 45 claim units covering 25,930 acres in Burntbush.
The Timmins West properties encircle, within 15 kilometers, the high-grade results reported by West Timmins Mining Inc. and Lakeshore Gold Corp. Several Nebu properties include a number of historic gold occurrences that have never been tested at any significant depth. Recent length weighted assays from one hole at North Denton have indicated averaged 98.41 g/t (2.84 oz/ton gold) over a core interval of 4.7 metres (15.4 feet) from 78.3 metres (256.8 feet) down hole. This very high-grade interval includes an extremely high-grade section that assayed 413.57 g/tonne gold over 1.0 metre (12.063 oz gold per ton over 3.28 feet). The addition of a second drill rig in the area will allow for further detailed drilling in the zone.
The Company is currently drilling approximately 40 holes on the West Timmins properties, specifically the North Denton claim, with depths ranging from near surface to 300 metres. Additional drill targets have been established and a drill program is expected to continue throughout 2010 with an increase in the number of drills and identified targets.
Airborne VTEM has been flown on the Burntbush property, which is the western extension of the Casa-Berardi Deformation Zone, and targets are being determined for reverse-circulation drilling.
The Company currently has 50,726,616 common shares issued and outstanding and a working capital of approximately $2,000,000. Recently the Company completed a Flow-Through financing for $655,000 with proceeds going towards ongoing exploration at its West Timmins and Burntbush projects. This financing was primarily subscribed for by the new Directors and officers of the Company who were appointed in January 2010.
Nebu Resources has upside potential for its shareholders due to its geographic position in relation to other properties with high-grade discoveries and producing mines in the historic West Timmins mining camp. Furthermore the Company has a strong cash position following two oversubscribed financings in late 2008 and early 2009. Finally Nebu Resources has strong management and an experienced Board of Directors with a history of success.
An aggressive drill program has been planned for this year and the Company anticipates an exciting 2010 for Nebu Resources and its shareholders.
330 Bay Street, Suite 1120 Toronto, Ontario M5H 2S8
Tel: 416-985-7810 Fax: 416-863-4943 Email: info@NebuResources.com Website: www.NebuResources.com
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