VANCOUVER,
July 19,
2017 /CNW/ - Nevsun Resources Ltd.
(TSX:NSU) (NYSE MKT:NSU) ("Nevsun" or the "Company") is pleased to
announce final assay results from the recently completed infill
drilling of the Upper Zone at the Company's Timok copper-gold
project ("Timok Project") in Serbia.
HIGHLIGHTS
- Drilling confirms continuity and the high-grade nature of
the Upper Zone
- New massive and semi-massive sulphide intersections
include:
-
- 16.94% Cu and 6.97g/t Au over 25.5m, within 4.46% Cu and
2.38g/t Au over 280.0m in TC160146B
- 15.86% Cu and 7.69g/t Au over 27.0m, within 5.18% Cu and
2.28g/t Au over 274.5m in TC170157
- 20.57% Cu and 9.17g/t Au over 49.5m, within 6.77% Cu and
3.67g/t Au over 265.5m in TC160147
- 15.63% Cu and 12.28g/t Au over 19.5m, within 5.37% Cu and
4.94g/t Au over 177.0m in TC160142
- Exploration drilling for additional Upper Zone type deposits
underway
Nevsun CEO, Peter Kukielski,
commented, "The high-grade assays reported today are the final
holes from the infill drill program for the Timok Upper Zone.
This drilling is enabling development of improved geological and
geotechnical models and we expect an upgrade to a high percentage
of the resources. We are also excited to have exploration for
additional Upper Zone type deposits underway. At the Bor
operation, just five kilometres away, there were in excess of
twenty separate high sulphidation epithermal "upper zone" type
deposits, we believe the possibility of finding additional deposits
should be high."
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).
Timok Upper Zone
The high sulphidation epithermal mineralization (HSE) 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 preferentially occurring within pyrite bordering the
copper sulphides.
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 and 60% owner of the Timok Lower Zone
in Serbia. Nevsun generates cash flow from its 60% owned
copper-zinc Bisha Mine in Eritrea. Nevsun is well positioned
with a strong debt-free balance sheet to grow shareholder value
through advancing Timok 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,
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 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.
"Peter G.J. Kukielski"
Peter G.J. Kukielski
President & Chief Executive Officer
SOURCE Nevsun Resources Ltd.