Nevada Copper Corp.: Drilling Continues to Expand Shallow Mineralization in the South Deposit and Lower Zones in the North De...
09 August 2012 - 2:30PM
Marketwired
Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is pleased to
announce the latest step-out and expansion drill results from its
100% owned Pumpkin Hollow Property located near Yerington, Nevada.
Additional drill results are pending and will be released as they
become available.
An updated resource estimate will be released by September 7,
2012 which is later than initially anticipated. This delay will
allow for the inclusion of the positive drill results reported
below, as well as the previously-reported assays from the current
step-out and expansion drilling program. This program has been
ongoing since November 2010 and represents over 47,000 meters of
drilling.
The drill results reported below include 12 holes drilled in the
open-pittable Western deposits (North, South and Southeast
deposits). The drilling continues to expand the lower zone
mineralization in the North deposit, between the North and South
open pits, and shallow areas of the South deposit. Much of the
drilling intersected mineralization within, or just outside the
current National Instrument 43-101 Feasibility Study ultimate pit
limits for the North and South pits.
In the North deposit, four holes were drilled (NC12-18, 19, 23,
and 24). Results continue to expand mineralization along the
southern edge and at depth. NC12-23 targeted the expansion of the
lower zones intersected 475 feet (144.8 meters), 266.4 feet (81.2
meters) true thickness grading 0.62% copper. NC12-18 and NC12-24
also drilled in the southeast intersected mineralization. NC12-19
was drilled where previous holes were shallow. Mineralization in
the North deposit remains open at depth and to the east.
In the South deposit, four holes were also completed (NC12-26,
27, 29, and 37). NC12-29 was drilled in the center of the deposit
where drill spacing was wide and mineralization needed better
definition. In addition to confirming the main mineralized zone, a
much higher grade shallow zone was also intersected. The shallow
zone intersected 81.5 feet (24.8 meters), 66.6 feet (20.3 meters)
true thickness grading 1.23% copper. NC12-27 and NC12-37 were
drilled along the eastern border of the south deposit where older
drilling was shallow and the host unit had not been tested. The new
mineralization intersected is just within, and also outside, the
current feasibility ultimate pit limit. Future drill programs will
follow up on the open mineralization. NC12-26 successfully
intersected deeper mineralization.
In addition, three holes were drilled in the saddle area between
the North and South deposits a (Drill holes NC11-21, NC12-22, and
NC12-25). Drilling continues to intersect and expand low grade
mineralization between the two deposits. The mineralization remains
open in this area.
Drill hole NC12-20 was drilled in the Southeast deposit and
intersected two zones of mineralization. The hole expanded the
lower mineralized zone and confirmed the shallow upper zone.
Gregory French, Vice President, Senior Project Manager,
commented, "The latest step out drilling in the South deposit has
been successful in expanding shallow mineralization. Higher grades
intersected in the center of the deposit and open mineralization
discovered along the southeast border should have positive affect
on future mine designs. The North deposit drilling also continues
to expand mineralization, especially in the deeper zones. Bringing
the new drill results into the database is expected to have a very
positive effect on the upcoming resource estimate and future mine
designs."
NORTH DEPOSIT - Assays greater than 0.15% Cu
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True
From To Length Length Length Copper Gold Silver Mo
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Drill Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (g/t)
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less
than
NC12-18 202.1 213.4 11.3 37.0 8.0 0.50 0.005 0.8 0.001
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368.8 385.6 16.8 55.0 8.4 0.22 0.035 1.0 0.007
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476.9 500.8 23.9 78.5 12.0 0.39 0.035 1.9 0.005
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NC12-19 185.9 201.4 15.5 51.0 14.0 0.24 0.014 1.3 0.001
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270.8 307.8 37.0 121.5 32.0 0.45 0.053 1.5 0.002
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NC12-23 224.0 259.1 35.1 115.0 24.8 0.93 0.087 3.1 0.011
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278.9 286.5 7.6 25.0 5.4 0.87 0.520 2.1 0.005
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332.2 447.0 144.8 475.0 81.2 0.62 0.106 2.0 0.008
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491.3 502.9 11.6 38.0 8.9 0.64 0.081 1.8 0.016
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516.9 527.6 10.7 35.0 9.3 0.42 0.048 0.9 0.015
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NC12-24 312.4 327.6 15.2 50.0 11.6 0.23 0.012 0.8 0.010
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441.1 449.6 8.5 28.0 5.4 0.28 0.021 1.2 0.014
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461.8 469.2 7.5 24.5 4.3 0.62 0.082 2.4 0.011
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477.9 513.6 35.7 117.0 22.9 0.66 0.087 2.1 0.016
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SOUTH DEPOSIT - Assays greater than 0.15% Cu
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True
From To Length Length Length Copper Gold Silver Fe
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Drill Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (%)
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NC12-26 181.4 189.0 7.6 25.0 4.4 0.28 0.138 1.7 6.5
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234.7 283.8 49.1 161.0 31.6 0.22 0.014 1.2 27.1
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329.2 389.4 60.2 197.5 38.7 0.32 0.030 1.0 34.9
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NC12-27 76.4 106.7 30.3 99.5 28.4 0.33 0.036 1.8 39.6
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128.0 196.6 68.6 225.0 64.3 0.30 0.015 0.6 27.9
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207.3 221.9 14.6 48.0 9.4 0.17 0.027 0.9 44.7
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245.3 265.9 20.6 67.5 10.3 0.21 0.028 1.0 16.6
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270.7 299.3 28.6 94.0 14.3 0.19 0.035 1.1 18.7
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NC12-29 146.3 171.1 24.8 81.5 20.3 1.23 0.105 6.9 8.4
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184.4 200.7 16.3 53.5 13.4 0.19 0.003 0.6 10.5
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216.4 228.6 12.2 40.0 10.0 0.21 0.019 1.2 5.2
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244.5 309.4 64.9 213.0 53.2 0.38 0.054 2.7 16.6
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341.4 395..0 53.6 176.0 43.9 0.40 0.050 2.1 26.9
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401.0 410.0 9.0 29.5 7.4 0.19 0.051 0.7 46.2
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NC12-37 95.9 106.7 10.8 35.5 10.1 0.18 0.036 1.4 24.7
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131.1 172.2 41.1 135.0 38.5 0.42 0.034 2.4 6.0
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BETWEEN NORTH & SOUTH DEPOSITS - Assays greater than 0.15% Cu
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True
From To Length Length Length Copper Gold Silver Fe
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Drill Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (%)
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NC12-21 158.5 169.2 10.7 35.0 8.8 0.18 0.020 0.7 20.4
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262.1 269.7 7.6 25.0 7.1 0.19 0.026 0.5 5.6
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283.5 292.6 9.1 30.0 8.6 0.25 0.011 0.6 6.2
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NC12-22 358.2 367.3 9.1 30.0 7.5 0.24 0.006 0.6 2.9
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less
than
NC12-25 189.0 198.6 9.6 31.5 8.7 0.28 0.048 1.2 0.001
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SOUTHEAST DEPOSIT - Assays greater than 0.15% Cu
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True
From To Length Length Length Copper Gold Silver Fe
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Drill Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (%)
----------------------------------------------------------------------------
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NC12-20 86.9 160.0 73.1 240.0 56.0 0.41 0.085 1.1 51.0
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184.4 239.3 54.9 180.0 45.0 0.22 0.043 1.0 12.0
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Plan maps with the respective drill locations will be made
available at
http://www.nevadacopper.com/i/pdf/NCU-Maps-Aug2012.pdf.
Iron Metallurgical Testwork Update
Iron metallurgical testing commenced in February and is ongoing
with initial flotation testing of iron concentrates producing
encouraging results which reduce the levels of sulphur in the
high-Fe magnetite concentrates. Additional testing is now focused
on different flotation collectors and grind size to further improve
these results. These results will be incorporated into an updated
feasibility study for an Integrated open pit and underground mine
that will include the benefits from the project's iron magnetite
resource.
Feasibility Study Update
Feasibility study work continues on track for a stand-alone
5,000 to 7,500 ton per day high grade underground mine and mill as
described in News Release dated June 20, 2012. Release of this
feasibility study is anticipated for October 2012.
An updated feasibility study for an Integrated open pit and
underground mine with a single 67,500 ton per day processing
facility which will incorporate the benefits of an updated resource
estimate and iron magnetite resource is scheduled for completion in
late December 2012.
The Pumpkin Hollow drilling program is under the supervision of
Gregory French, CPG #10708, and a Qualified Person as defined in
Canadian National Instrument 43-101, who is responsible for the
preparation of the technical information in this news release. All
assaying and whole rock geochemistry is processed at the American
Assay Laboratories (AAL) in Reno, Nevada. Samples are delivered
from the project core logging facility to AAL by Nevada Copper or
AAL personnel. A Quality Assurance and Quality Control Assay
Protocol have been implemented whereby blanks and standards are
inserted into the assay stream and check samples are sent to
Chemex-Reno and Inspectorate-Reno laboratories.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
Cautionary Language
We seek safe harbour.
Contacts: Nevada Copper Corp. Eugene Toffolo Corporate
Communications 604-683-8266 or Toll free:
1-877-648-8266etoffolo@nevadacopper.com Nevada Copper Corp. Robert
McKnight, P.Eng. Executive Vice President
604-683-1309bmcknight@nevadacopper.com www.nevadacopper.com
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