VANCOUVER, Feb. 27, 2017 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) ("Nevsun" or the "Company") is pleased to announce new assay results from on-going infill drilling of the Upper Zone at the Company's Timok copper-gold project ("Timok Project").
- Drilling continues to confirm continuity and the high-grade nature of the Upper Zone
- New massive and semi-massive sulphide intersections include:
- 14.58% Cu and 12.9g/t Au over 67.5m, within 6.00% Cu and 3.79g/t Au over 256.3m in TC160130
- 17.97% Cu and 7.59g/t Au over 46.5m, within 5.93% Cu and 2.20g/t Au over 279.0m in TC160128A
- 16.94% Cu and 9.44g/t Au over 22.5m, within 5.25% Cu and 4.69g/t Au over 163.5m in TC160133
- 13.94% Cu and 4.91g/t Au over 20.3m, within 4.96% Cu and 2.01g/t Au over 222.8m in TC160124A
- Final 10,000m of planned pre-feasibility study resource drilling in progress
Nevsun CEO, Cliff Davis, commented, "The ultra-high-grade assays reported today are part of the in-fill drilling to confirm and upgrade the resource of the Timok Upper Zone mineralization. This drilling is enabling the development of an improved geological and geotechnical model for the deposit that will be incorporated in our Pre-Feasibility Study. This study is progressing well and is expected to be completed on schedule in September 2017."
Detailed drill results, sections and a plan map of drill hole locations are attached to this news release. Holes are designed to intersect the high sulphidation mineralization at 80 to 95% of true width.
Timok Copper-Gold Project
The Timok Project is located in eastern Serbia near the Bor mining and smelting complex. The Timok Project is focussed on the Cukaru Peki ("Timok") deposit which includes the high grade Upper Zone (characterized by massive and semi-massive sulphide mineralization) and the Lower Zone (characterized by porphyry-style mineralization). The Upper Zone has an extremely high copper and gold content consisting of 1.7 million tonnes of indicated resource grading 13.5% copper and 10.4 g/t gold and 35.0 million tonnes of inferred resource grading 2.9% copper and 1.7 g/t gold.
Timok Upper Zone
The high sulphidation epithermal ("HSE") mineralization in the Upper Zone comprises massive sulphide, semi-massive and also vein, stockwork, dissemination and hydrothermal breccia matrix sulphide hosted by strongly altered andesite. The HSE mineralization forms a single coherent zone at depths ranging from 400 to over 800m below surface. Pyrite is the dominant sulphide mineral and covellite the principal copper mineral with lesser enargite, bornite and chalcocite occurring in veins, hydrothermal breccias, disseminations and replacement. Gold correlates with the copper sulphides and occurs within the associated pyrite.
Drill core samples were collected in accordance with protocols that are compatible with accepted industry procedures and best practice. The Company conducts its own analysis of QAQC generated by the systematic inclusion of certified reference materials, blank samples and duplicate samples. The analytical results from the quality control samples have been evaluated and have been demonstrated to conform to best practice standards.
Mr. Peter Manojlovic, P.Geo., Nevsun's VP Exploration, is a Qualified Person as defined by NI 43-101. Mr. Manojlovic has reviewed the technical content of this press release and approved its dissemination.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 100% owner of the high-grade copper-gold Timok Upper Zone in Serbia and 60% owner of the high-grade copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned with a strong debt-free balance sheet to grow shareholder value through advancing the Timok project to production.