VANCOUVER, April 4, 2017 /CNW/ - Nevsun Resources Ltd. (TSX:
NSU) (NYSE MKT: NSU) ("Nevsun" or the "Company") is pleased to
announce new assay results from on-going drilling at Harena.
These results include in-fill drilling of large gaps in the
resource model, as well as new results from the testing of Harena
at depth. Nevsun is also pleased to report that the 6,386
line kilometre VTEM (Versatile Time Domain Electromagnetic)
airborne survey has been completed over an 825 square kilometre
licensed area at Bisha.
Highlights
- Intersected 18.4 metres of 1.65% Cu, 4.03% Zn, 0.82g/t Au,
55g/t Ag extending the deposit by 150 metres
- Borehole electromagnetic surveys suggest further down plunge
extensions likely
- Additional new drilling results include:
- 57.4 metres of 0.37% Cu, 7.08% Zn, 0.17g/t Au, 9g/t
Ag
- 44.5 metres of 0.49% Cu, 6.51% Zn, 0.43g/t Au, 29g/t
Ag
- 40.5 metres of 0.76% Cu, 4.82% Zn, 0.18g/t Au, 18g/t
Ag
- 84.0 metres of 0.80% Cu, 4.72% Zn, 0.27g/t Au, 15g/t
Ag
- Preliminary VTEM survey results highlight numerous new
untested shallow drill targets
Cliff Davis, Nevsun CEO,
commented, "The new drilling demonstrates that the already sizeable
Harena resource extends 150 metres beyond its currently modelled
limits, further enhancing the potential for underground
mining. We are particularly encouraged by the increasing
copper content which indicates the mineralizing system is
strengthening." Mr. Davis went on to say, "The recently
completed airborne survey over the Mogoraib River and Tabakin
Exploration Licenses that were acquired in 2016 has highlighted a
significant number of new shallow drill targets. Evaluation
of the highest priority anomalies is currently underway but the
full suite of targets will take years to pursue. As we have
always stated, Bisha is evolving into a large VMS district with
exploration still in its infancy."
Harena
Harena is located 10 kilometres south of the Bisha processing
plant and drilling continues to expand the deposit at depth. Some
of the results reported in today's update are part of an in-fill
program designed to upgrade the mineral resource and tighten the
drill spacing at Harena to 100 metre centres, while others are from
an on-going program focused on expanding the deposit. A drill-hole
plan map, longitudinal section and representative cross section
through Harena can be found in Figures 1, 2 and 3.
Hole HX-083, which is the deepest hole yet drilled at Harena, is
relatively higher in copper than recent holes drilled above it and
has an 11.0 metre interval grading 2.23% Cu, 4.92% Zn, 1.10 g/t Au,
79 g/t Ag including 2.6 metres grading 4.88% Cu, 7.79% Zn, 2.49 g/t
Au, 201 g/t Ag. This suggests that the mineralizing system is
strengthening and Borehole transient electromagnetic (BHEM)
modeling indicates that the mineralization should continue down
dip. Further drilling will determine if this is the case.
The mineralization at Harena displays a well-defined base metal
and host rock alteration zonation pattern consisting of a
sphalerite and pyrite, zinc-rich upper portion and a lower
chalcopyrite and pyrite, copper-rich basal section. The
copper-rich basal area is focussed along the northeastern edge of
the deposit and is commonly underlain by a thick zone of highly
altered felsic volcanics indicative of the high temperature focus
point of the mineralizing system. The zinc-rich upper portion
tends to be displaced to the southwest and has much less alteration
associated with the volcanic rocks below it, indicating that it is
somewhat distal from the active mineralizing centre.
BHEM surveys are routinely completed in all holes drilled at
Harena. The results of these surveys are typically
interpreted and modeled as plates of various conductivities in
three dimensional space. These models, along with the geology
and alteration patterns, have been instrumental in guiding the
drilling at Harena. Chalcopyrite is the main conductive
mineral and the borehole survey results preferentially focus our
efforts toward copper enriched mineralization. Sphalerite is
not conductive, but is associated with pyrite, which is less
conductive than chalcopyrite giving weaker anomalies. A
longitudinal section with the interpreted borehole plate models
derived from hole HX-083 is shown in Figure 4.
The highly predictable nature of the geology at Harena, coupled
with the borehole geophysical modeling, has allowed us to
aggressively step out with our drill pattern. This will
ultimately enable us to quickly define the full geometry of
Harena.
VTEM Survey
A 6,386 line kilometre VTEM survey has been recently completed
by helicopter over the Mogoraib River and Tabakin Exploration
Licenses covering an area of 825 square kilometres. These
licenses were acquired in mid-2016 and much of the area had never
been covered by any geophysical survey. Preliminary results
have highlighted many new anomalies that, by the nature of the
survey, should be relatively shallow (i.e., less than 100 metre
depth). Field evaluation is underway to determine the nature
of the anomalies and over 11,000 metres of drilling has been
allocated for the testing of targets.
Quality Assurance
A Quality Assurance/Quality Control program was part of the
assaying program at Harena. 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 and analyzed at Bisha's
on-site laboratory independently operated by SGS.
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.
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 Annual Information Form for the
fiscal year ended December 31, 2016,
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
Table of previously unreleased assay results from
Harena
HOLE
ID
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
Zn
(%)
|
Au
(g/t)
|
Ag
(g/t)
|
Harena
|
HX-072
|
539.50
|
594.10
|
54.60
|
1.02
|
2.54
|
0.46
|
20
|
includes
|
574.30
|
594.10
|
19.80
|
2.27
|
1.76
|
0.59
|
31
|
HX-073
|
285.60
|
319.00
|
33.40
|
1.08
|
4.08
|
2.07
|
40
|
includes
|
314.00
|
319.00
|
5.00
|
0.92
|
0.14
|
11.05
|
95
|
HX-074
|
190.00
|
193.60
|
3.60
|
0.40
|
9.31
|
0.33
|
46
|
HX-075
|
219.00
|
225.50
|
6.50
|
0.72
|
6.44
|
0.65
|
42
|
HX-076
|
371.60
|
374.30
|
2.70
|
0.49
|
10.62
|
0.25
|
26
|
HX-077
|
701.00
|
701.50
|
0.50
|
0.91
|
0.06
|
0.21
|
12
|
HX-078
|
No Significant
Values
|
HX-079
|
795.10
|
852.50
|
57.40
|
0.37
|
7.08
|
0.17
|
9
|
includes
|
800.90
|
840.10
|
39.20
|
0.35
|
7.99
|
0.18
|
8
|
and
|
845.40
|
852.50
|
7.10
|
0.33
|
9.33
|
0.11
|
10
|
HX-080
|
909.00
|
916.60
|
7.60
|
0.40
|
4.69
|
1.51
|
47
|
and
|
1,077.10
|
1,082.60
|
5.50
|
0.67
|
5.21
|
0.58
|
60
|
HX-081
|
762.60
|
768.50
|
5.90
|
0.06
|
8.20
|
0.07
|
6
|
and
|
883.20
|
927.70
|
44.50
|
0.49
|
6.51
|
0.43
|
29
|
includes
|
883.20
|
888.90
|
5.70
|
0.29
|
15.02
|
0.32
|
19
|
and
|
894.00
|
898.00
|
4.00
|
2.64
|
1.25
|
1.11
|
84
|
and
|
914.00
|
923.20
|
8.40
|
0.08
|
15.23
|
0.20
|
19
|
HX-082
|
856.00
|
896.50
|
40.50
|
0.76
|
4.82
|
0.18
|
18
|
includes
|
869.20
|
875.10
|
5.90
|
1.67
|
2.45
|
0.14
|
21
|
and
|
875.10
|
892.30
|
17.20
|
0.37
|
5.67
|
0.12
|
10
|
and
|
892.30
|
896.50
|
4.20
|
2.48
|
4.33
|
0.59
|
73
|
HX-083
|
1170.70
|
1176.00
|
5.30
|
0.17
|
3.87
|
0.85
|
26
|
and
|
1211.00
|
1229.40
|
18.40
|
1.65
|
4.03
|
0.82
|
55
|
includes
|
1213.50
|
1224.50
|
11.00
|
2.23
|
4.92
|
1.10
|
79
|
and
|
1213.50
|
1216.10
|
2.60
|
4.88
|
7.79
|
2.49
|
201
|
HX-084
|
598.00
|
682.00
|
84.00
|
0.80
|
4.72
|
0.27
|
15
|
includes
|
598.00
|
616.60
|
18.60
|
0.31
|
7.51
|
0.66
|
24
|
and
|
625.30
|
640.50
|
15.20
|
0.45
|
6.66
|
0.15
|
5
|
and
|
640.50
|
646.70
|
6.20
|
4.42
|
1.23
|
0.76
|
49
|
and
|
649.70
|
669.00
|
19.30
|
0.89
|
6.69
|
0.11
|
11
|
and
|
658.60
|
661.00
|
2.40
|
4.62
|
1.35
|
0.25
|
54
|
and
|
678.70
|
682.00
|
3.30
|
2.53
|
1.30
|
0.29
|
43
|
Estimated true widths
are approximately 70% of the drill intercept length.
|
Drill Collar Locations
HOLE
ID
|
UTM
Easting
|
UTM
Northing
|
Elevation
|
Depth
(m)
|
Azimuth
|
Dip
|
HX-072
|
334229
|
1707761
|
602
|
702
|
125
|
-65
|
HX-073
|
334424
|
1707684
|
602
|
407
|
125
|
-67
|
HX-074
|
334605
|
1707864
|
600
|
387
|
125
|
-65
|
HX-075
|
334339
|
1707439
|
604
|
389
|
125
|
-66
|
HX-076
|
334162
|
1707443
|
604
|
464
|
125
|
-65
|
HX-077
|
334448
|
1708041
|
599
|
765
|
125
|
-69
|
HX-078
|
334710
|
1708216
|
597
|
775
|
125
|
-74
|
HX-079
|
334015
|
1707667
|
602
|
875
|
122
|
-74
|
HX-080
|
333879
|
1707639
|
601
|
1199
|
122
|
-76
|
HX-081
|
333995
|
1707558
|
602
|
947
|
125
|
-76
|
HX-082
|
334033
|
1707777
|
601
|
1126
|
123
|
-74
|
HX-083
|
333710
|
1707635
|
601
|
1410
|
123
|
-75
|
HX-084
|
334170
|
1707619
|
600
|
695
|
125
|
-70
|
Note: Collar
coordinates are in UTM WGS84 Zone37N
|
SOURCE Nevsun Resources Ltd.