Nevada Copper Exploration Program Targets Recently-Staked Ground and New Zones Near Open Pit
April 11 2019 - 8:00AM
Nevada Copper Corp. (TSX: NCU) (“
Nevada
Copper” or the “
Company’’) is pleased to
announce plans for a $3 million exploration program in 2019 at its
100%-owned Pumpkin Hollow copper project in Nevada, USA. The
program has the following goals:
- Newly-staked land exploration: drill-test
high-priority areas including Tedeboy and East targets where areas
of both porphyry and skarn-style copper mineralization have been
identified at surface
- Open pit exploration: drill-test open
extensions to the Open Pit ore body and follow up on successful
2018 results
- Open pit advancement: Infill drilling of
in-pit Inferred resource material1 with objective to increase
resource tonnage and grade
Matt Gili, Chief Executive Officer of Nevada
Copper, stated, “While our operations team focuses on putting our
underground mine into production in Q4, 2019, our experienced
geological team is executing on our exploration and expansion
goals. The new program has been designed in line with our corporate
philosophy of pursuing smart, low-cost growth options. It will
encompass drilling some of the high-priority targets in
underexplored areas of the Pumpkin Hollow project, including
newly-staked ground that has encouraging copper showings on
surface. In addition, we will also be targeting areas of potential
growth in and around the open pit via exploration and expansion
drilling.”
2019 Exploration Program
Details
Newly-Staked Land Exploration and East
Target (see news release dated February 22, 2019)
In February 2019, the Company expanded its land
position by 32% with the staking of 5,700 acres of Federal Land to
the northwest of its prior land position (shown below Figure 1),
known as the Tedeboy Area. This area contains porphyry-style
alteration and copper oxide mineralization at surface with multiple
zones of copper mineralization sampled in outcrops and
trenches.
- Objective: Demonstrate the potential of both existing and
newly-staked lands and test multiple new targets, including both
porphyry and skarn mineralization
- Key activities: o Airborne geophysics survey, and mapping and
sampling o Drill test Tedeboy and East Targets (see Figure
1.)
Open Pit Exploration
Following on the success of the 2018 drilling
program, the Company has identified several directions of open
mineralization around the current Open Pit, notably to the north
and the west. Additionally, the Company intends to increase
its understanding of the area immediately between the North and
South pit boundaries, known as the “Connector Zone”.
- Objective: Continue to test open extensions to the Open Pit ore
body, following the successful extensions identified in 2018
- Key activities: o Drill test the new, shallow
mineralization in the Northern & NW Extension areas, discovered
during the summer 2018 drill program (see news release dated
September 24, 2018) o Drill test a possible offset of
mineralization west of the Open Pit o Drill test the connector
zone between the north and south pits
Open Pit Advancement
Current work on the resource model has
identified several areas within the Open Pit shell where increased
drilling density may add to the resource model as well as
potentially convert some of the Inferred Resource to the Indicated
Resource category. Additionally, as we go into detailed
engineering, the Company recognizes the need to drill test areas of
potential future infrastructure locations to verify no
mineralization will be sterilized by their positioning.
- Objective: Infill areas of in-pit inferred material, with the
aim of increasing the Open Pit resource tonnage and grade
- Key activities: o Drill areas classified as waste and
Inferred Resources with goal to convert to Indicated Resources
zones in pit o Drill areas classified as waste and Inferred
Resources to Indicated Resources with goal to convert in open areas
along the open pit borders. o Drill mineralized areas with
goal to upgrade areas of poor core recovery o Drill-test
targets that fall within proposed infrastructure
Underground In-Fill Drilling
While not part of the current year exploration budget, the
underground near-mine exploration continues to hold significant
potential for adding new mineral resources and extending the mine
life of the Underground Project through in-fill drilling. We
plan on initiating this drilling commensurate with underground mine
activities as the underground drilling platforms are developed.
Please visit our website at
www.nevadacopper.com for updated construction progress photos
and additional project information.
Qualified Persons
The information and data in this news release
was reviewed by Greg French, P.G., VP Exploration and Project
Development for Nevada Copper, who is a non-independent Qualified
Person within the meaning of NI 43-101.
About Nevada Copper
Nevada Copper’s (TSX: NCU) Pumpkin Hollow
underground project is in construction with a view to commencement
of copper production in Q4, 2019. Located in Nevada, USA, Pumpkin
Hollow has substantial reserves and resources including copper,
gold and silver. Its two fully-permitted projects include a
high-grade underground project (under construction) and a
large-scale open pit project.
Additional Information
For further information please visit the Nevada Copper corporate
website (www.nevadacopper.com).
NEVADA COPPER CORP.
Matthew Gili, President and CEO
For further information call:
Rich Matthews,VP Investor RelationsPhone: 604-355-7179Toll free:
1-877-648-8266Email: rmatthews@nevadacopper.com
We seek safe harbour.
_________________
1 References to Inferred, Indicated and Measured Resources are
based on the Canadian Institute of Mining (CIM) definitions
Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/cd81a557-f2d9-4619-a0a2-e24a6d3345d5
http://www.globenewswire.com/NewsRoom/AttachmentNg/bdfb601f-0362-4c06-9f16-e8465b8bdbae
http://www.globenewswire.com/NewsRoom/AttachmentNg/cbe2eace-b3f0-46df-8574-5794ff1980c9
http://www.globenewswire.com/NewsRoom/AttachmentNg/c7d6db1d-5859-4732-97b7-52baf5702d95
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