Nevsun Announces Further Exploration Drilling Results for Harena
September 23, 2014
HIGHLIGHTS
* Intersections of massive sulphide including:
* Hole HX-011: 0.75% Cu, 5.18% Zn, 0.40 g/t Au, 43.4 g/t Ag over 21.5
meters
* Hole HX-012: 0.96% Cu, 6.57% Zn, 0.30 g/t Au, 30.1 g/t Ag over 13.5
meters
* Hole HX-017: 0.85% Cu, 3.96% Zn, 0.40 g/t Au, 43.6 g/t Ag over 41.6
meters
* High grade gold-rich footwall stringer intersections including:
* Hole HX-008: 0.71% Cu, 0.22% Zn, 6.15 g/t Au, 241.6 g/t Ag over 17.2
meters
* Hole HX-012: 0.15% Cu, 0.25% Zn, 6.22 g/t Au, 83.1 g/t Ag over 10.0
meters
* Hole HX-019: 0.56% Cu, 0.23% Zn, 8.03 g/t Au, 119.7 g/t Ag over 5.5
meters
* Hole HX-020: 0.25% Cu, 0.11% Zn, 8.50 g/t Au, 146.2 g/t Ag over 14.0
meters
* Deposit extension confirmed with increasing width and depth of
mineralization extended to 400 meters
* Mineralization remains open at depth and along strike
* Additional drilling and geophysical surveys ongoing
<
http://www.nevsun.com/> Nevsun Resources Ltd. (TSX:NSU / NYSE MKT:NSU) is
pleased to announce exploration drilling results from the Harena Mining
License located 10 kilometers south of the Bisha Mine and processing plant.
The drilling was completed as part of the 2014 Bisha Regional Exploration
program.
Nevsun CEO Cliff Davis commented, "Our exploration program at Harena
continues to be successful in demonstrating that our known resources remain
open for further expansion. The Bisha area is under-explored and we will
further assess Harena and the greater potential of the Bisha VMS belt."
2014 Regional Exploration Program Update
To-date, Bisha Mining Share Company (BMSC) has completed approximately
18,500 meters of a 25,000 meter planned diamond drilling program. Diamond
drilling is in progress at Harena with two diamond drills operating and will
resume on the Mogoraib River Exploration License in October following the
short rainy season. Geophysical surveys are also in progress and consist of
ground and borehole Transient Electromagnetic (BHTEM) surveys. These surveys
have been instrumental in guiding the drilling at Harena.
Harena Drill Results
The 2014 Harena exploration program is designed to expand the deposit beyond
the known resource following-up on the encouraging results encountered in
hole HX-005 (1.77% Cu, 3.99% Zn, 1.22 g/t Au, 77.9 g/t Ag over 18.5 meters -
see Press Release August 18, 2014). Drilling to the south and below HX-005
has been successful in expanding the deposit by 300 meters to the south and
to a depth of 400 meters below surface. A plan map of the drilling and
representative sections are attached at the end of this release.
Thick intervals of massive, semi-massive and stringer sulphides have been
encountered up to 300 meters below hole HX-005 over a 150 meter strike
length including a 58.7 meter interval in hole HX-012. These thicknesses are
significantly greater than that of the historic resource and the deposit
remains open to depth and along strike. Assay results for holes drilled down
to approximately 200 meters below surface have been received (HX-008 to
HX-020 excluding HX-021) while assay results from a deeper tier of holes
(HX-022 to HX-026) are pending. Drilling is being guided by BHTEM and the
massive sulphides give strong electromagnetic (EM) responses. Numerous
in-hole, edge and off-hole responses have been detected and the drilling of
these targets has been successful.
Intense sericite and chlorite altered felsic volcanic rocks continue to be
intersected in the footwall of the deposit. Stringer sulphide zones in this
alteration immediately below and along strike of massive sulphides are
demonstrating high precious metal endowment. Hole HX-008 immediately along
strike of massive sulphides encountered in hole HX-006 intersected 6.15 g/t
Au and 241.6 g/t Ag over 17.2 meters. Similar zones have been intersected in
holes HX-006, HX-012, HX-019 and HX-020.
Massive and stringer sulphides have been intersected at more than one
horizon in a number of the drill holes such as hole HX-022. Sulphides zones
have been encountered at more than one stratigraphic level in the felsic
volcanic package -- this suggests that stacked mineralized horizons are
present. The combination of intense footwall and locally hangingwall
alteration with stacked mineralized horizons and strong precious metal
endowment is a good indication of a large long lived hydrothermal system.
Numerous untested geophysical targets exist outside and along strike of
Harena, and these targets will be the focus of future exploration.
Quality Assurance
A Quality Assurance/Quality Control program was part of the sampling program
for the Harena work. This program includes chain of custody protocols as
well as systematic use of standards, duplicates and blank samples into the
flow of samples produced by the sampling. Samples were prepared at African
Horn Testing Services (Eritrea) and analyzed at Genalysis Laboratories (a
NATA registered laboratory) in Perth, Western Australia. Drilling intercept
lengths only are reported in the tables and text below.
Mr. Robert Foy PGeo., BMSC's Exploration Manager, has been overseeing the
drilling at Harena and is a Qualified Person as defined by NI 43-101. Mr.
Foy has reviewed the technical content of this press release and approved
its dissemination.
Forward Looking Statementss
The above contains forward-looking statements or forward-looking information
within the meaning of the United States Private Securities Litigation Reform
Act of 1995, and applicable Canadian securities laws. Forward-looking
statements are frequently, but not always, identified by words such as
"expects," "anticipates," "believes," "intends," "estimated," "potential,"
"possible" and similar expressions, or statements that events, conditions or
results "will," "may," "could" or "should" occur or be achieved.
Forward-looking statements are statements concerning the Company's current
beliefs, plans and expectations about the future including but not limited
to commercial production, future production of copper and related cash flows
and are inherently uncertain. The actual achievements of the Company or
other future events or conditions may differ materially from those reflected
in the forward-looking statements due to a variety of risks, uncertainties
and other factors, including, without limitation, the risks that: (i) any of
the assumptions in the historical resource estimates turn out to be
incorrect, incomplete, or flawed in any respect; (ii) the methodologies and
models used to prepare the resource and reserve estimates either
underestimate or overestimate the resources or reserves due to hidden or
unknown conditions, (iii) exploration activities or the mine operations are
disrupted or suspended due to acts of god, internal conflicts in the country
of Eritrea, unforeseen government actions or other events; (iv) the Company
experiences the loss of key personnel; (v) the Company's operations or
exploration activities are adversely affected by other political or
military, or terrorist activities; (vi) the Company becomes involved in any
material disputes with any of its key business partners, suppliers or
customers; (vii) the Company is subjected to any hostile takeover or other
unsolicited attempts to acquire control of the Company; (viii) the Company
is subject to any adverse ruling in any of the pending litigation to which
it is a party; (ix) the Company incurs unanticipated costs or required
repairs to the copper floatation plant; or (x) are associated with the
speculative nature of exploration activities, periodic interruptions to
exploration, failure of drilling, processing and mining equipment, the
interpretation of drill results and the estimation of mineral resources and
reserves, changes to exploration and project plans and parameters and other
risks are more fully described in the Company's Management Discussion and
Analysis for the fiscal year ended December 31, 2013, which is incorporated
herein by reference. The Company's forward-looking statements are based on
the beliefs, expectations and opinions of management on the date the
statements are made and the Company assumes no obligation to update such
forward-looking statements in the future, except as required by law. For the
reasons set forth above, investors should not place undue reliance on the
Company's forward-looking statements.
Please see the Company's Annual Information Form for the fiscal year ended
December 31, 2013, and the Company's Management Discussion and Analysis for
the year ended December 31, 2013, for a more complete discussion of the risk
factors associated with our business.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an operating
mine in Eritrea. Nevsun's 60%-owned Bisha Mine commenced commercial copper
concentrate production in December 2013 and ranks as one of the highest
grade open pit copper mines in the world. Nevsun has a strong balance sheet
and future cash flows to grow shareholder value through exploration at Bisha
and acquisition of additional mining assets.
NEVSUN RESOURCES LTD.
Cliff T. Davis
President & Chief Executive Officer
For further information, Contact:
Kin Communications
Tel: 604 684 6730
Toll free: 1 866 684 6730
Email: <mailto:NSU_at_kincommunications.com> NSU_at_kincommunications.com
Website: <
http://www.nevsun.com/> www.nevsun.com
Received on Tue Sep 23 2014 - 18:24:11 EDT