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Nevsun Resources Ltd.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Lower Zone | |
| Location: | Serbia | |
| Commodities: | Copper-Gold | |
| Date: | 11/22/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-11-2016: Nevsun Resources Ltd. announces an Exploration/Drilling Update report for its Lower Zone deposit at the Timok project. JV with Freeport-McMoRan - drill results incl. 686.0m @ 0.89% Cu, 0.16g/t Au from 1104m. Nevsun Resources Ltd. (TSX:NSU) (NY | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Manojlovic (Internal) | |
| ABSTRACT: | Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (“Nevsun” or the “Company”) is pleased to announce new assay results from drilling of the Lower Zone at the Company’s Timok copper-gold project (“Timok Project”). Nevsun CEO Cliff Davis commented, “The assays reported today demonstrate the tremendous potential of the Timok Lower Zone mineralization. These holes were drilled prior to the Company acquiring its interest in the Timok Project and were recently assayed. With our joint venture partner, Freeport-McMoRan, we have embarked on a $20 million drilling program focused on the Lower Zone porphyry. The results from these holes will be used, along with historical and ongoing drilling, to generate a maiden resource for the Lower Zone.” The Lower Zone consists of porphyry-type mineralization characterized by chalcopyrite-pyrite and occasional bornite and molybdenite occurring as disseminations and within quartz and quartz-magnetite stockwork veinlets. Anhydrite veins are common. Within the Lower Zone, porphyry-type potassic alteration is preserved locally but generally overprinted by sericiteclay, argillic and locally advanced argillic alteration. The latter overprinting also locally brings covellite-pyrite mineralization. The host rocks are predominantly volcanic andesite and andesite breccias. The geometry of the Lower Zone remains to be fully defined. Its top is about 700 metres below surface and has been traced down to depths in excess of 2,000 metres. The $20 million drill program is currently being undertaken to enable an initial resource to be calculated for portions of the zone. | |
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