Nevsun Resources confirms high-grade copper and gold at Timok Project
Nevsun Resources Ltd. [NSU-TSX, NYSE MKT] announced assay results from drilling of the Upper Zone at the company's high-grade Timok copper-gold project located in the historic Bor mining district in eastern Serbia. These excellent results continue to confirm the continuity and the high-grade nature of the Upper Zone.
HIGHLIGHTS
New massive and semi-massive sulphide intersections include:
TC150099: 248.0m @ 6.37% Cu, 3.19g/t Au, including 87.0m @ 11.95% Cu, 5.35g/t AuTC150078: 300.0m @ 5.50% Cu, 3.32g/t Au, including 40.0m @ 18.83% Cu, 10.61g/t AuTC150105: 220.0m @ 3.12% Cu, 3.83g/t Au, including 42.0m @ 11.11% Cu, 16.70g/t AuTC150094: 188.0m @ 4.03% Cu, 4.24g/t Au, including 27.0m @ 12.21% Cu, 15.26g/t AuVertical holes were designed to intersect the high-grade upper portion of the mineralization at near perpendicular orientation.
Nevsun CEO, Cliff Davis, commented, "The assays reported today continue to demonstrate the high grade nature of the Timok mineralization. These holes were drilled prior to the company acquiring its interest in the Timok Project and were recently assayed after the ownership changed. In addition to the 30,000 metres of ongoing drilling, the results from these holes will be included in the model used to generate a new resource for the pre-feasibility study due in September 2017."
In September, Nevsun announced they were advancing towards a Pre-Feasibility Study with a major drilling program at Timok stating, "Since closing the acquisition of the Timok Project this past June, Nevsun has been rapidly ramping up the Upper Zone pre-feasibility study work. In addition, Nevsun, with its joint venture partner, Freeport-McMoRan, has commenced a 67,000 metre drilling program on the Lower Zone deposit to further define the deep porphyry potential.
An additional 30,000 metres of drilling are in progress to further improve confidence in the resource.