VANCOUVER, Feb. 27, 2017 /PRNewswire/ - Nevsun
Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) ("Nevsun" or the "Company")
is pleased to announce new assay results from on-going infill
drilling of the Upper Zone at the Company's Timok copper-gold
project ("Timok Project").
HIGHLIGHTS
- Drilling continues to confirm continuity and the high-grade
nature of the Upper Zone
- New massive and semi-massive sulphide intersections
include:
- 14.58% Cu and 12.9g/t Au over 67.5m, within 6.00% Cu and
3.79g/t Au over 256.3m in TC160130
- 17.97% Cu and 7.59g/t Au over 46.5m, within 5.93% Cu and
2.20g/t Au over 279.0m in TC160128A
- 16.94% Cu and 9.44g/t Au over 22.5m, within 5.25% Cu and
4.69g/t Au over 163.5m in TC160133
- 13.94% Cu and 4.91g/t Au over 20.3m, within 4.96% Cu and
2.01g/t Au over 222.8m in TC160124A
- Final 10,000m of planned pre-feasibility study resource
drilling in progress
Nevsun CEO, Cliff Davis,
commented, "The ultra-high-grade assays reported today are part of
the in-fill drilling to confirm and upgrade the resource of the
Timok Upper Zone mineralization. This drilling is enabling
the development of an improved geological and geotechnical model
for the deposit that will be incorporated in our Pre-Feasibility
Study. This study is progressing well and is expected to be
completed on schedule in September
2017."
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 80 to
95% of true width.
Timok Copper-Gold Project
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.
Timok Upper Zone
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 correlates with the copper
sulphides and occurs within the associated pyrite.
Quality
Assurance
Drill core samples were collected in accordance with protocols
that are compatible with accepted industry procedures and best
practice. The Company conducts its own analysis of QAQC generated
by the systematic inclusion of certified reference materials, blank
samples and duplicate samples. The analytical results from the
quality control samples have been evaluated and have been
demonstrated to conform to best practice standards.
Mr. Peter Manojlovic, P.Geo.,
Nevsun's VP Exploration, is a Qualified Person as defined by NI
43-101. Mr. Manojlovic has reviewed the technical content of
this press release and approved its dissemination.
About Nevsun Resources Ltd.
Nevsun Resources Ltd. is the 100% owner of the high-grade
copper-gold Timok Upper Zone in Serbia and 60% owner of the
high-grade copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned with a
strong debt-free balance sheet to grow shareholder value through
advancing the Timok project to production.
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", "hopes", "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
statements and information made concerning: statements relating to
the business, prospects and future activities of, and developments
related to the Company, anticipated dividends, goals, strategies,
future growth, planned future acquisitions and explorations
activities, the adequacy of financial resources and other events or
conditions that may occur in the future, 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 or Serbia, 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 timing and success of improving the quality of the
copper circuit product by resolving the metallurgical challenges
from the variable ore materials being processed to produce
concentrate from the copper circuit; * the effect on resource or
reserve estimates due to the possible inability to resolve the
metallurgical challenges on the variable ore materials being
processed on a timely basis or at all; and other risks are more
fully described in the Company's Management Information Circulars
dated May 18, 2016 with respect to
the proposed arrangement between Reservoir Minerals Inc. and
Nevsun, and the Company's Annual Information Form for the fiscal
year ended December 31, 2015, which
are 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, 2016, 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.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T.
Davis
President & Chief Executive Officer
SOURCE Nevsun Resources Ltd.