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Nevsun Resources Ltd.
Summary
| Project: | Timok | |
|---|---|---|
| Deposit: | Upper Zone | |
| Location: | Serbia | |
| Commodities: | Copper-Gold | |
| Date: | 12/7/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 7-12-2016: Nevsun Resources Ltd. announces an Exploration/Drilling Update report for its Upper Zone deposit at the Timok project. JV with Freeport-McMoRan - drill results incl. 98.8m @ 9.82% Cu, 8.86g/t Au. Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) ( | |
| 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 on-going drilling of the Upper Zone at the Company’s Timok copper-gold project (“Timok Project”). Nevsun CEO, Cliff Davis, commented, “The assays reported today represent about 25% of the planned in-fill drilling designed to confirm and upgrade the resource of the Timok Upper Zone mineralization. The work on our Pre-Feasibility Study is progressing well. Recent meetings with both the Prime Minister of Serbia and the Minister of Mines and Energy have demonstrated the State’s very strong support for international investment and in particular, the development of the Timok Project.” Detailed drill results, sections and a plan map of drill hole locations are attached to this news release. Holes are designed to intersect the high sulphidation mineralization at 90 to 100% of true width. The Timok Project is located in eastern Serbia near the Bor mining and smelting complex. The Timok Project is focussed on the Cukaru Peki (“Timok”) deposit which includes the high grade Upper Zone (characterized by massive and semi-massive sulphide mineralization) and the Lower Zone (characterized by porphyry-style mineralization). The Upper Zone has an extremely high copper and gold content consisting of 1.7 million tonnes of indicated resource grading 13.5% copper and 10.4 g/t gold and 35.0 million tonnes of inferred resource grading 2.9% copper and 1.7 g/t gold. The high sulphidation epithermal (“HSE”) mineralization in the Upper Zone comprises massive sulphide, semi-massive and also vein, stockwork, dissemination and hydrothermal breccia matrix sulphide hosted by strongly altered andesite. The HSE mineralization forms a single coherent zone at depths ranging from 400 to over 800m below surface. Pyrite is the dominant sulphide mineral and covellite the principal copper mineral with lesser enargite, bornite and chalcocite occurring in veins, hydrothermal breccias, disseminations and replacement. Gold is associated primarily with the copper sulphides. | |
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