VANCOUVER, April 28, 2015 /CNW/ - Nevsun Resources Ltd.
(TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to
announce new assay results from exploration drilling completed on
the Harena Mining License located 10 kilometers south of the Bisha
Mine and processing plant. The drilling is part of the 2015
Bisha regional exploration program which builds on the highly
successful 2014 program.
HIGHLIGHTS
- Intersections of high grade massive sulphide in Lower Zone
include:
- HX-050: 1.66% Cu, 6.62% Zn, 0.41 g/t Au, 28 g/t Ag
over 67.2 m including 4.61% Cu, 3.43% Zn, 0.99 g/t Au, 63
g/t Ag over 22.1 m and 0.22% Cu, 8.18% Zn, 0.13 g/t Au, 10
g/t Ag over 45.1 m
- HX-051: 1.09% Cu, 3.57% Zn, 0.43 g/t Au, 22 g/t Ag
over 73.5 m including 4.25% Cu, 1.17% Zn, 1.01 g/t Au, 62
g/t Ag over 11.0 m
- Intersections of massive sulphide in Upper Zone include:
- HX-043: 0.63% Cu, 5.70% Zn, 0.35 g/t Au, 28 g/t Ag
over 18.5 m
- New Gold Zone intersection confirming continuity:
- HX-045: 7.49 g/t Au, 171 g/t Ag over 11.0 m
- Lower Zone massive sulphide extended 120 m down dip with
increasing width and grade
- Upper Zone extended over 150 m along strike
- Deposit remains open to depth and along strike
Nevsun CEO Cliff Davis commented,
"We continue to have exciting results at Harena. The assays
reported today demonstrate that the deposit is increasing in
thickness and grade with depth as a core of high grade
mineralization is being outlined. We also continue to see the
deposit growing along strike to the south. These new results
bode well for significant further expansion of the resource at
Harena".
Three distinct high grade zones of mineralization being defined
at Harena (see Figure 5 of this release).
- Lower Zone: massive sulphide open at depth
- Upper Zone: massive sulphide lens open on strike
- Gold Zone: stringer and stockwork enriched gold zone
Lower Zone
Holes HX-047, HX-050 and HX-051 were drilled to test down dip of
hole HX-040 that returned 1.78% Cu, 5.78% Zn over 32.0 metres
including 8.82% Zn over 20.1 metres and 4.19% Cu over 11.9 metres
(see press release dated December 17,
2014). Both holes hit comparable intervals of massive
sulphide to that of HX-040 with classic volcanogenic massive
sulphide zonation consisting of an upper pyrite – sphalerite zone
followed by a lower chalcopyrite – rich zone. Hole HX-050 is
the deepest hole drilled to-date and with hole HX-051 demonstrate
that the massive sulphide zone is increasing substantially in
thickness with depth. Borehole Transient Electromagnetic
(BHTEM) surveys completed in these and neighboring holes have
defined a large high conductance geophysical plate associated with
this mineralization in what is now being termed the Lower
Zone. This zone appears to be the main core of the Harena
deposit based on the thicknesses of massive sulphide encountered,
the metal zonation and the high base metal content. It is
still open at depth.
Upper Zone
Hole HX-039 and subsequent holes HX-042, HX-043 and HX-049 were
step-out holes approximately 150 metres to the south of the deposit
targeting strong alteration in the host felsic volcanic
rocks. These holes have intersected variable
thicknesses of massive sulphide that are very
zinc-rich. BHTEM has defined a large plate associated
with this mineralization that suggests there should be considerable
continuation of the mineralization to the south. This zone is
now termed the Upper Zone and it is open along strike to the
south.
Gold Zone
Hole HX-045 targeted a gap in the drilling of the stringer
mineralization that occurs between the Upper Zone and the Lower
Zone. This hole successfully intersected stringer
mineralization with 7.49 g/t Au and 171 g/t Ag over 11.0 metres and
confirms the continuity of precious metal-rich stringer
mineralization in what is now termed the Gold Zone. Further
expansion of this zone to the south will be the goal of future
drilling.
Regional Exploration Program
The 2015 Bisha Mining Share Company (BMSC) regional exploration
program is currently focused on three main areas: expansion
of the Harena deposit at depth and along strike; exploring the
perimeter of the Bisha deposit at depth and along strike; and,
evaluating regional targets on the Mogoraib River License at Asheli
and Tekewuda. Systematic surface and BHTEM surveys in
combination with geological and lithogeochemical modeling is being
used to successfully guide the exploration effort.
The 2015 Harena exploration results reported today are designed
to expand the deposit beyond the known resource (see also press
releases dated August 18,
September 23, November 13 and December
17, 2014). Since drilling was renewed at Harena in
mid-2014, the indicated resource at Harena has grown by 1.4 million
tonnes and the inferred resource has increased by 6.1 million
tonnes (see press release dated February
3, 2015). A plan map of the drilling and
representative sections are attached at the end of this
release. Drilling in part, is being guided by BHTEM surveys
as the massive sulphides (particularly the copper-rich sections in
holes HX-040, HX-047, HX-050 and HX-051) give strong
electromagnetic responses.
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. All samples were prepared at African Horn Testing
Services (Eritrea) and analyzed at
Genalysis Laboratories (a NATA registered laboratory) in
Perth, Western Australia except for holes HX-050 and
HX-051 which were prepared and analyzed at Bisha's on-site
laboratory independently operated by SGS.
Drilling intercept lengths only are reported in the tables and
text below.
Mr. Robert Foy P.Geo., 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 Statements
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 power
interruptions or failures due to electrical circuit failures or
inadequate fuel quality or supply required to effectively operate
power generators for the plant or otherwise or costs or
required repairs to the copper floatation plant; or *
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 Annual
Information Form for the fiscal year ended December 31, 2014, 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.
Further information concerning risks and uncertainties
associated with these forward-looking statements and our business
can be found in our Annual Information Form for the year ended
December 31, 2014, which is available
on the Company's website (www.nevsun.com), filed
under our profile on SEDAR (www.sedar.com) and on
EDGAR (www.sec.gov) under cover of Form 40-F
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
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"
Cliff T. Davis
President & Chief Executive Officer
Harena Intersections (not previously reported + select
previously reported results)
HOLE
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Zn
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
CuEQ
1
|
Harena Main –
Lower Zone
|
HX-038
|
468.00
|
522.00
|
54.00
|
0.54
|
0.48
|
0.20
|
9.6
|
0.9%
|
HX-040
|
407.20
|
439.20
|
32.00
|
1.78
|
5.78
|
0.53
|
31.2
|
4.3%
|
HX-041
|
312.10
|
316.00
|
3.90
|
3.63
|
3.22
|
1.17
|
110.5
|
6.4%
|
HX-041
|
328.70
|
378.70
|
50.00
|
1.10
|
3.04
|
0.63
|
35.7
|
2.8%
|
HX-044
|
235.90
|
242.00
|
6.10
|
0.61
|
3.95
|
0.41
|
32.7
|
2.5%
|
HX-044
|
332.00
|
352.00
|
20.00
|
0.76
|
0.59
|
0.93
|
29.4
|
1.8%
|
HX-046
|
448.00
|
451.50
|
3.50
|
0.39
|
0.36
|
1.78
|
33.1
|
1.8%
|
HX-047
|
488.40
|
520.00
|
31.60
|
1.35
|
3.70
|
0.40
|
26.1
|
3.1%
|
including
|
512.40
|
520.00
|
7.60
|
3.34
|
1.31
|
0.88
|
59.4
|
4.8%
|
HX-050
|
510.70
|
577.90
|
67.20
|
1.66
|
6.62
|
0.41
|
27.6
|
4.4%
|
including
|
510.70
|
555.80
|
45.10
|
0.22
|
8.18
|
0.13
|
10.4
|
3.2%
|
and
|
555.80
|
577.90
|
22.10
|
4.61
|
3.43
|
0.99
|
62.7
|
6.9%
|
HX-051
|
497.00
|
570.50
|
73.50
|
1.08
|
3.57
|
0.43
|
22.5
|
2.8%
|
includes
|
497.00
|
533.50
|
36.50
|
0.27
|
5.02
|
0.32
|
17.0
|
2.3%
|
and
|
542.50
|
570.50
|
28.00
|
2.43
|
1.38
|
0.68
|
35.9
|
3.6%
|
includes
|
559.50
|
570.50
|
11.00
|
4.25
|
1.17
|
1.01
|
61.5
|
5.8%
|
Harena Main – Gold
Zone
|
HX-042
|
321.00
|
326.00
|
5.00
|
0.30
|
2.92
|
9.41
|
43.2
|
|
HX-045
|
296.10
|
307.10
|
11.00
|
0.55
|
0.43
|
7.49
|
170.5
|
|
includes
|
301.00
|
305.30
|
4.30
|
0.53
|
0.17
|
18.37
|
393.1
|
|
HX-047
|
520.00
|
524.00
|
4.00
|
0.44
|
0.02
|
16.54
|
98.4
|
|
HX-048
|
Results
Pending
|
|
|
|
|
|
|
Harena Main –
Upper Zone
|
HX-037
|
No Significant
Values
|
|
|
|
|
|
|
HX-039
|
281.50
|
286.85
|
5.35
|
0.78
|
7.42
|
1.17
|
123.5
|
5.1%
|
HX-043
|
441.00
|
459.50
|
18.50
|
0.63
|
5.70
|
0.35
|
27.5
|
3.0%
|
including
|
441.00
|
445.00
|
4.00
|
0.86
|
11.29
|
0.31
|
43.1
|
5.3%
|
and
|
448.60
|
459.50
|
10.90
|
0.75
|
5.43
|
0.48
|
30.1
|
3.2%
|
HX-049
|
Results
Pending
|
|
|
|
|
|
|
1
|
"CuEQ" Copper
Equivalent calculation uses Harena 2014 Year End Resource metal
prices (USD): copper, zinc, gold and silver -- $3.35/lb.,
$1.15/lb., $1335/oz., and $21/oz., respectively. 1 g/t
Au = 0.57% Cu; 1% Zn = 0.34% Cu; 10 g/t Ag = 0.09% Cu.
|
HOLE
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Zn
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Harena North of
Pit
|
HX-028A
|
No Significant
Values
|
|
|
|
|
|
HX-029
|
No Significant
Values
|
|
|
|
|
|
HX-030
|
No Significant
Values
|
|
|
|
|
|
HX-031
|
No Significant
Values
|
|
|
|
|
|
HX-032
|
261.40
|
262.30
|
0.90
|
1.54
|
0.15
|
0.08
|
11.0
|
HX-033
|
82.20
|
89.00
|
6.80
|
0.03
|
0.73
|
0.06
|
2.5
|
HX-034
|
No Significant
Values
|
|
|
|
|
|
HX-035
|
No Significant
Values
|
|
|
|
|
|
HX-036
|
No Significant
Values
|
|
|
|
|
|
Figure 1. Harena Mine – Drillhole Location Map
Figure 2. Harena - Section A-A' L6150
Figure 3. Harena - Section B-B' L6200
Figure 4. Harena - Section C-C' L6250
Figure 5. Harena – Longitudinal Projection (looking
northwest)
Drill Collar Locations
HOLE
ID
|
UTM
Easting
|
UTM
Northing
|
Elevation
|
Depth
(m)
|
Azimuth
|
Dip
|
Harena Drill
Collar Locations
|
HX-028A
|
334793
|
1708156
|
597
|
542
|
125
|
-65
|
HX-029
|
334186
|
1706879
|
609
|
396
|
125
|
-50
|
HX-030
|
334900
|
1708265
|
596
|
452
|
125
|
-60
|
HX-031
|
335000
|
1708350
|
595
|
446
|
125
|
-60
|
HX-032
|
334940
|
1708055
|
598
|
317
|
125
|
-50
|
HX-033
|
335224
|
1708466
|
595
|
431
|
125
|
-65
|
HX-034
|
335675
|
1708835
|
596
|
380
|
125
|
-65
|
HX-035
|
335050
|
1708455
|
594
|
401
|
125
|
-60
|
HX-036
|
335005
|
1708125
|
597
|
419
|
125
|
-50
|
HX-037
|
334134
|
1707255
|
605
|
494
|
125
|
-65
|
HX-038
|
334380
|
1707810
|
601
|
605
|
125
|
-70
|
HX-039
|
334244
|
1707416
|
604
|
477
|
125
|
-65
|
HX-040
|
334310
|
1707685
|
602
|
536
|
125
|
-62
|
HX-041
|
334429
|
1707775
|
601
|
492
|
125
|
-65
|
HX-042
|
334250
|
1707485
|
603
|
461
|
125
|
-65
|
HX-043
|
334150
|
1707515
|
603
|
605
|
125
|
-65
|
HX-044
|
334519
|
1707859
|
601
|
473
|
125
|
-60
|
HX-045
|
334362
|
1707606
|
602
|
410
|
125
|
-59
|
HX-046
|
334381
|
1707894
|
600
|
586
|
125
|
-57
|
HX-047
|
334265
|
1707736
|
601
|
607
|
125
|
-65
|
HX-048
|
334301
|
1707587
|
603
|
551
|
125
|
-70
|
HX-049
|
334179
|
1707550
|
603
|
536
|
125
|
-63
|
HX-050
|
334236
|
1707634
|
602
|
680
|
125
|
-72
|
HX-051
|
334248
|
1707691
|
602
|
650
|
125
|
-70
|
|
Note: Collar
coordinates are in UTM WGS84 Zone37N
|
SOURCE Nevsun Resources Ltd.