Of interest 2013 Press Releases
October 21, 2013
Nevsun Announces Further Drilling Results from Northwest Zone
Nevsun Resources Ltd. (TSX: NSU / NYSE MKT: NSU) is pleased to announce further diamond drill results from resource definition drilling at the Northwest Zone poly-metallic massive sulphide deposit, located 2 kilometers from the Bisha processing plant within the Bisha mining license.
HIGHLIGHTS
- Northwest Zone still open to south and north
- Four down dip step-out holes demonstrate that the mineralized system continues at depth
- Additional parallel zone identified but limited drilling to date
- Maiden mineral resource estimate in early 2014
Selected New High Grade Results Include:
- Hole NWDD129 - 14.1 m* @ 1.06 % Cu and 3.89% Zn from 111.9 m to 126.0 m (MS)*
- Hole NWDD130 - 14.0 m @ 17.2 g/t Au and 49.0 g/t Ag from 101.0 m to 115.0 m (S)
- Hole NWDD131 - 18.5 m @ 2.11 % Cu and 13.5 g/t Ag from 93.5 m to 112.0 m (M-S)
- Hole NWDD160 - 3.7 m @ 2.21% Cu and 3.3 g/t Au and 12.1 g/t Ag from 216.0 m to 219.7 m (M-S)
- Hole NWDD173 - 20.5 m @ 1.40 % Cu and 17.3 g/t Ag from 77.5 m to 98.0 m (M-S)
- Hole NWDD185 - 5.2 m @ 5.2 g/t Au and 13.9 g/t Ag from 52.5 m to 57.7 m (O)
- Hole NWDD187 - 14.2 m @ 1.21 % Cu and 2.06 % Zn from 110.6 m to 124.8 m (M-S)
- Hole NWDD189 - 14.5 m @ 3.2 g/t Au from 39.0 m to 53.5 m (O)
- Hole NWDD195 - 5.2 m @ 0.60 % Cu and 3.64 % Zn and 27.5 g/t Au and 174.6 g/t Ag (M-S) from 105.8 m to 111.0 m (M-S)
*Notes: Mineralization Types: M = Massive Sulphide; M-S = Massive and Stringer Sulphide; S = Stringer Sulphides; O = Oxidized Material; D = Dyke. Intervals given are drilled metres. True widths are generally 70 to 90% of drilled length depending on hole and mineralisation orientation.
Selected holes are shown in the deposit map below.
Bisha Mining Share Company (BMSC) completed the resource definition and expansion drilling program totaling 216 holes at the Northwest Zone in May 2013 and drilled a further 4 holes in July and August 2013. A total of 18,892 meters of drilling has been completed at the Northwest Zone in 2013. Assay results received to-date from holes NWDD118 - NWDD198 that were completed in 2013 are included at the end of the release. Prior drilling results were released on May 23, 2013. Remaining results will be released later in 2013.
Work on the maiden resource estimate is in progress and the results are expected to be included in a BMSC mineral resource and reserve update in early 2014. The estimate will include Bisha Main and Harena resource and reserve updates and Hambok and the Northwest Zone maiden resources.
Mineralization at the Northwest Zone occurs in a series of massive sulphide lenses hosted within altered felsic volcanic rocks containing abundant copper and zinc-rich stringer sulphide mineralization. Gold and silver are occasional highly enriched in these stringer zones and are often associated with later dykes. Some of the massive sulphides have been exposed to weathering at surface creating oxide zones that are locally enriched in gold. Beneath these areas, some supergene copper mineralization may also be present. Core recovery is often poor in the oxide zones as unconsolidated material is easily washed away and not recovered during the diamond drilling process. Further testing of these areas by reverse circulation drilling will be completed in due course.
The mineralized system at the Northwest Zone is extensive and resource expansion opportunities remain to the north, south and at depth. In July, four holes were drilled beneath the central and northern portions of the deposit. This drilling demonstrated that the mineralized system continues to depth and appears to be thickening to the south. Assays are still outstanding, but further drilling to the south is warranted. In addition, to the east there is a parallel zone of massive sulphide that is only defined by limited drilling.
The Northwest Zone was discovered in 2003 by the diamond drilling of an airborne EM anomaly and follow-up ground geophysics, soil sampling and drilling from 2004 to 2006 defined a 600 meter long zone of massive and stringer sulphide mineralization. Further work was deferred while the Bisha deposit was being prepared for mining. A program of in-fill drilling was started in late 2011 designed to fully delineate the open-pit potential. This drill program has now been completed and has successfully extended the mineralization an additional 400 meters in strike length.
Quality Assurance
A Quality Assurance/Quality Control program was part of the sampling program for the Northwest Zone work. This program includes a chain of custody whereby drill core samples are initially crushed and subsampled at the Bisha Mine preparation facilities before being transported to Asmara, sealed, and sent on to the laboratories of ALS Limited in Vancouver. ALS is accredited by the Standards Council of Canada. Multi-element analysis is completed using ICP-AES methods; gold is analyzed by fire assay with AAS finish. Certified reference material (standards), duplicates and blank samples are systematically inserted into the flow of core samples and results analyzed on a batch by batch basis.
Hole collars are surveyed using differential GPS; down hole survey was originally completed using the Reflex EZ shot method, now superseded with downhole gyro methods.
Mr. Paul Gribble C.Eng., FIMMM, BMSC's Chief Resource Geologist has been overseeing the drilling and resource work at the Northwest Zone and is a Qualified Person as defined by NI 43-101. Mr. Gribble has reviewed the technical content of this press release and approved its dissemination.
Forward Looking Statements
The above contains forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995, and applicable Canadian securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimated," "potential," "possible" and similar expressions, or statements that events, conditions or results "will," "may," "could" or "should" occur or be achieved. Forward-looking statements are statements concerning the Company's current beliefs, plans and expectations about the future and are inherently uncertain. The actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, the risks that: (i) any of the assumptions in the historical resource estimates turn out to be incorrect, incomplete, or flawed in any respect; (ii) the methodologies and models used to prepare the resource and reserve estimates either underestimate or overestimate the resources or reserves due to hidden or unknown conditions, (iii) exploration activities or the mine operations are disrupted or suspended due to acts of god, internal conflicts in the country of Eritrea, unforeseen government actions or other events; (iv) the Company experiences the loss of key personnel; (v) the Company's operations or exploration activities are adversely affected by other political or military, or terrorist activities; (vi) the Company becomes involved in any material disputes with any of its key business partners, lenders, suppliers or customers; (vii) the Company is subjected to any hostile takeover or other unsolicited attempts to acquire control of the Company; or (viii) are associated with the speculative nature of exploration activities, periodic interruptions to exploration, failure of drilling, the uncertainty and difficulty with core recovery in oxide zones, processing and mining equipment, the interpretation of drill results and the estimation of mineral resources and reserves, changes to exploration and project plans and parameters and other risks are more fully described in the Company's Management Discussion and Analysis for the fiscal year ended December 31, 2012, which is incorporated herein by reference. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future, except as required by law. For the reasons set forth above, investors should not place undue reliance on the Company's forward-looking statements.
Please see the Company's Annual Information Form for the fiscal year ended December 31, 2012, and the Company's Management Discussion and Analysis for the year ended December 31, 2012, for a more complete discussion of the risk factors associated with our business.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company. Nevsun's 60%-owned Bisha Mine commenced commercial production in February 2011 and ranks as one of the highest grade open pit copper mines in the world. Nevsun has a strong balance sheet to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.
NEVSUN RESOURCES LTD.
Cliff T. Davis
President & Chief Executive Officer
For further information, Contact:
Kin Communications
Tel: 604 684 6730
Toll free: 1 866 684 6730
Email: NSU@kincommunications.com
Website: www.nevsun.com