Nubian Resources (the Company) (TSX VENTURE: NBR) is pleased to announce that the Company has entered into a binding letter of intent (LOI) with Zinc One Resources Inc. to acquire the Esquilache silver lead zinc project comprising of the historical Esquilache underground silver mine and adjacent Virgen de Chapi prospect located in the Puno Department of Southern Peru.
Martin Walter, Chief Executive Officer of Nubian stated:
We are very excited to have secured this cornerstone project for Nubian. The Esquilache polymetallic project ticks all the boxes in terms of high grade, near surface mineralization, good location and drill ready representing an advanced stage exploration project.
Once the acquisition is closed, Nubian intends to undertake a drilling program to define an initial mineral resource as well as advance the Project’s environmental, engineering and metallurgical studies. Together with processing of the stockpiles, the Project is geared for fast-track development.
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