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Nevsun Resources Ltd.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Lower Zone | |
| Location: | Serbia | |
| Commodities: | Copper-Gold | |
| Date: | 3/28/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Pre-Feasibility Study | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 28-3-2018: Nevsun Resources Ltd. announces a Pre-Feasibility Study report for its Lower Zone deposit at the Timok project. PFS results incl. NPV of US$1473M (8%), IRR of 50% and 15yr LOM at the project. Vancouver, BC – Nevsun Resources Ltd. (TSX:NSU) (NYS | |
| Resources: | (Reserve, Prob.): 27.1Mt @ 3.3% Cu, 2.1g/t Au for 0.89Mt Cu, 1.8Moz Au contained at project | |
| CP/QP: | [Overall Report]: Gary MacSporran (Internal) | |
| ABSTRACT: | Vancouver, BC – Nevsun Resources Ltd. (TSX:NSU) (NYSE AMERICAN: NSU) (Nevsun or the Company) today announced the results of a pre-feasibility study (“PFS”) for the Timok Upper Zone copper-gold project in Serbia (“Timok Project” or “Project”), one of the world’s best development stage copper projects. All economic values within this release are in US dollars unless indicated otherwise. Nevsun CEO Peter Kukielski commented, “The PFS confirms the extraordinary value of our wholly-owned Timok Upper Zone project. This is a high-grade, high return, fully executable copper project in a supportive jurisdiction. The PFS is an important advance over our October 2017 Preliminary Economic Assessment and further de-risks the Project by improving confidence in the engineering details, metallurgical understanding, timeline to production and capital assumptions. As we drive toward a feasibility study in mid-2019, I am confident that we have the right team in place to bring the Timok Project into production. Between our management and the Board, we collectively have decades of development experience through the building of multiple projects and tens of billions of direct over sight of deployment of capital.” Nevsun CEO Peter Kukielski continued, “The Project lies in an established mining jurisdiction with a supportive and collaborative government. The Republic of Serbia recently granted an exploration decline permit for the Project, advancing our timeline to production. The decline permit is a testament to the strong working relationship that we have built with the government of Serbia. We are grateful for their continued support as we begin initial construction of the decline in Q2 2018, advancing the Timok Upper Zone Project for the benefit of both local stakeholders and our shareholders.” | |
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