News on Timok exploration schedule and budget..
Nevsun Resources updates on its Timok Project in Serbia; has commenced, w/ its JV partner Freeport-McMoRan (FCX), a 67k metre drilling program on the Lower Zone deposit to further define the deep porphyry potential. 7:51 AM ET 9/29/16 | Briefing.com RELATED QUOTES 4:00 PM ET 9/28/16 Symbol Last % Chg NSU 3.14 0.00% Real time quote. In addition, the Company, with its joint venture partner, Freeport-McMoRan (FCX), has commenced a 67,000 metre drilling program on the Lower Zone deposit to further define the deep porphyry potential. Upper Zone Project UpdateThe PFS-related activities are moving forward quickly with a targeted completion date of September 2017. Subject to successful submissions and approvals in-country, an exploration decline to access the Upper Zone, could begin in Q4 2017. Commencing this decline as early as possible is important to fast tracking a Feasibility Study while ensuring timely receipt of overall mining permit approvals. Co estimates expenditures of $35-40 million for all Upper Zone related activities to the end of 2017 prior to commencement of the FS.Lower Zone Project UpdateTargeting 67,000 metres drilling over the next 18-22 months to further define higher grade areas and further expand its mineralization Work budget is estimated at $20 million..