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Nevsun Resources Ltd.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Upper Zone, Lower Zone | |
| Location: | Serbia | |
| Commodities: | Copper-Gold | |
| Date: | 6/26/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 26-6-2018: Nevsun Resources Ltd. announces a Resource Estimation report for its Upper Zone, Lower Zone deposit at the Timok project. Initial mineral resource for Timok Lower Zone and PFS for Timok Upper Zone. Vancouver, BC – Nevsun Resources Ltd. (TSX: NS | |
| Resources: | (Resource, Inf.): 1.659Mt @ 0.86% Cu, 0.18g/t Au at Lower Zone | |
| CP/QP: | [Resources]: Gilles Arseneau (SRK Consulting (Canada) Inc.) | |
| ABSTRACT: | Vancouver, BC – Nevsun Resources Ltd. (TSX: NSU) (NYSE AMERICAN: NSU) (“Nevsun” or the “Company”) is pleased to announce the initial resource for the Timok (Cukaru Peki) Lower Zone deposit, a joint venture with Freeport-McMoRan Exploration Corporation (“Freeport”). Nevsun’s CEO, Peter Kukielski, said “The Timok Lower Zone ranks high among world porphyry deposits by tonnage and by grade. With 1.1 billion tonnes grading 1.11% copper equivalent, the Timok Lower Zone benchmarks well against planned and operating block cave mines. We will continue to work with Freeport to determine next steps for advancing the Lower Zone.” Mr. Kukielski went on to comment, “We expect that Timok (Cukaru Peki) is the start of a new generation of mines in Serbia’s Bor region. The Lower Zone remains open to the north and at depth. There are multiple high grade Upper Zone style exploration targets above the Lower Zone and our exploration licenses have the potential to host entirely new porphyry systems with associated high grade Upper Zone style mineralization.” Timok (Cukaru Peki) Lower Zone Resource The Lower Zone at Timok consists of two distinct mineralization styles: first a typical porphyry copper style mineralization characterized by potassic alteration and chalcopyrite with elevated molybdenum, and second a high sulphidation style mineralization consisting of sericitic alteration with elevated arsenic and base metals (lead, zinc and bismuth). The porphyry copper mineralization is by far the most important volumetrically at over 95% of the volume at the lower cut-off. The mineralized envelope extends above the Upper Zone on the east side with elevations ranging from approximately 500 meters below surface to just over 2,200 meters below surface. See Figure 1 for deposit configuration and Figure 2 for a visual representation of the mineralized zones. | |
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