On December 8th, 2011 the Company announced the acquisition of the right to the Cork Lake Property . The Cork Lake Property covers 12,360 acres (287 mineral claim units, 5000 ha) in Sothman, Semple and Nursey townships in northeastern Ontario, and includes the location of at least one historic gold occurrence and the projected extensions of other historic gold occurrences. The Property - in what Nebu calls the Matachewan West District, the western extension of the Kirkland Lake break – is 45 km to the west of AuRico’s Young Davidson mine (Measured and Indicated Resource of 536,000 ounces (4.5 M tonnes grading 3.72 g/t gold) plus an Inferred Resource of 53,000 ounces (0.5 M tonnes grading 3.22 g/t gold).
SGX Resources is currently doing a detailed drill program approximately 400 metres to the south-west of the Company's border. - See Map
Nebu acquired the Mallard Property on February 22, 2011, a highly prospective project located adjacent to the north of Trelawney's Jerome property, and northwest of Trelawney's Cote Lake Property. An initial drill program provided encouraging results, and the Company is presently analyzing data compiled from a Fall 2011 Geophysics program.
The Company also holds a 100% interest in the Northern Ontario Bowman Hislop Property and is currently awaiting final results from the initial exploration program. As of January 18th, 10 holes have been drilled. Initial results indicate significant targets have been identified in the area to the west of the nearby historic Canadian Arrow Mine property recently optioned by Murgor Resources. Murgor's first drill hole at that historic gold producing property assayed 2.64 g/t gold over a core length of 59 meters.
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.
