Nevsun Drills 51M of 3.34 g/t Au at Harena Satellite Deposit
posted on
Mar 02, 2011 12:01PM
Growing high grade, low cost Gold producer - projects in Eritrea, East Africa
Mar. 2, 2011 (Marketwire Canada) --
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VANCOUVER, BRITISH COLUMBIA -- Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to report the gold assays from the thirty-four infill diamond drill holes at the Harena deposit within its Bisha exploration license in Eritrea. Nevsun plans to use the infill drilling results to complete a resource estimate, mine plan and mining license application to process the material at its Bisha processing plant. Harena lies 9.5 km southwest of the Bisha Main deposit on an exploration license contiguous to the Bisha Mining license.
Highlights
Select High Grade Results Include:
The drilling took place in the fall of 2010. Drill hole locations were selected to infill drill the gossanous oxide cap on 25m x 25m and 12.5m x 25m fences which is the same spacing used to define measured and indicated resource categories at the Bisha Main deposit. The results were positive, and have provided increased confidence to the widths and grades of the gold bearing oxide cap at Harena. A resource estimate on the deposit has been initiated with results expected in late April. If the results are positive a reserve estimate and mine study will be done to support a mining license application.
Detailed results of gold in the oxide are in the attached schedule together with a map of hole locations. The results of assays on the sulphides are still in progress and will be disclosed at a later date.
Nevsun views the Harena deposit as a potential source of supplemental feed for the processing plant at Bisha. Supplemental feed can provide valuable cash flow as an extension to mine life without having to absorb any start-up capital costs.
Darin Wasylik, Senior Geologist for Nevsun, a qualified person under National Instrument 43-101, supervised and directed all work associated with the drilling program.
Sample preparation and analysis were conducted at ALS Chemex of Romania and Vancouver, Canada.
Forward Looking Statements: The above contains statements regarding positive drill results, indications that the Bisha concession may host multiple deposits, the Harena deposit as a potential source of supplemental feed and valuable cash flow, the close relationship between the interpreted graphitic horizon and the Harena massive sulphide, and additional prospects at the Harena area. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements . Forward-looking statements are statements about the future and are inherently uncertain, and 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, those described in the Management Discussion and Analysis of the Company. 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. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.
NEVSUN RESOURCES LTD.
Cliff T. Davis, President & Chief Executive Officer
SCHEDULE TO NEWS RELEASE OF NEVSUN RESOURCES, dated March 2, 2011
The following are the details of the drill results of the oxide zone at Harena:
From | To | Length | Au | From | To | Length | Au | |||||
Hole # | (m) | (m) | (m) | (g/t) | Hole # | (m) | (m) | (m) | (g/t) | |||
H-048 | 25.5 | 28.5 | 3.0 | 1.09 | H-066 | 30.0 | 61.5 | 31.5 | 0.94 | |||
H-049 | 46.5 | 55.5 | 9.0 | 3.18 | incl. | 43.5 | 48.0 | 4.5 | 2.59 | |||
incl. | 49.5 | 52.5 | 3.0 | 8.55 | and | 57.0 | 60.0 | 3.0 | 2.57 | |||
H-050 | 16.5 | 28.5 | 12.0 | 1.15 | H-067 | 19.5 | 28.5 | 9.0 | 1.68 | |||
incl. | 16.5 | 21.0 | 4.5 | 1.45 | 19.5 | 22.5 | 3.0 | 2.61 | ||||
and | 25.5 | 28.5 | 3.0 | 1.89 | H-068 | 7.5 | 40.5 | 33.0 | 1.53 | |||
H-051 | 67.5 | 77.0 | 9.5 | 0.90 | incl. | 9.3 | 12.4 | 3.1 | 1.35 | |||
incl. | 69.0 | 72.0 | 3.0 | 1.31 | and | 24.0 | 25.5 | 1.5 | 1.02 | |||
H-052 | 3.0 | 12.0 | 9.0 | 2.42 | and | 31.5 | 39.0 | 7.5 | 5.09 | |||
incl. | 6.0 | 11.0 | 5.0 | 4.23 | H-069 | 18.0 | 21.0 | 3.0 | 1.02 | |||
H-053 | 25.5 | 46.5 | 21.0 | 1.37 | incl. | 19.5 | 21.0 | 1.5 | 1.60 | |||
incl. | 25.5 | 33.0 | 7.5 | 3.40 | H-070 | 6.0 | 24.0 | 18.0 | 1.14 | |||
and | 45.0 | 46.5 | 1.5 | 1.75 | 13.5 | 16.5 | 3.0 | 4.34 | ||||
H-055 | 37.5 | 67.5 | 30.0 | 1.23 | H-071 | 16.5 | 60.0 | 43.5 | 1.68 | |||
incl. | 55.5 | 67.5 | 12.0 | 2.56 | incl. | 28.5 | 28.5 | 10.5 | 4.54 | |||
H-056 | 33.0 | 61.5 | 28.5 | 1.44 | and | 36.0 | 52.5 | 16.5 | 1.27 | |||
incl. | 33.0 | 34.5 | 1.5 | 2.78 | H-072 | 18.0 | 24.0 | 6.0 | 1.06 | |||
and | 40.5 | 46.5 | 6.0 | 3.53 | incl. | 21.0 | 22.5 | 1.5 | 2.21 | |||
and | 55.5 | 58.5 | 3.0 | 2.94 | and | 36.0 | 40.5 | 4.5 | 1.33 | |||
H-058 | 6.0 | 34.5 | 28.5 | 0.80 | and | 45.0 | 57.0 | 7.5 | 1.31 | |||
incl. | 6.0 | 18.0 | 12.0 | 1.25 | incl. | 45.0 | 48.0 | 3.0 | 2.78 | |||
and | 31.5 | 34.5 | 3.0 | 1.47 | H-073 | 21.0 | 25.5 | 4.5 | 1.21 | |||
H-059 | 13.5 | 73.5 | 60.0 | 2.73 | H-074 | 30.0 | 45.0 | 15.0 | 1.01 | |||
incl. | 13.5 | 19.5 | 6.0 | 12.84 | incl. | 36.0 | 40.5 | 4.5 | 2.81 | |||
and | 60.0 | 64.5 | 4.5 | 14.26 | H-075 | 36.0 | 39.0 | 3.0 | 1.80 | |||
H-060 | 34.5 | 51.0 | 16.5 | 0.75 | and | 46.5 | 70.5 | 24.0 | 3.19 | |||
incl. | 34.5 | 37.5 | 3.0 | 2.65 | incl. | 46.5 | 57.0 | 10.5 | 3.51 | |||
H-061 | 55.5 | 58.5 | 3.0 | 1.31 | and | 60.0 | 70.5 | 10.5 | 3.77 | |||
H-062 | 5.6 | 37.5 | 31.9 | 4.09 | H-078 | 51.0 | 69.0 | 18.0 | 11.78 | |||
incl. | 18.0 | 24.0 | 6.0 | 3.22 | incl. | 51.0 | 54.0 | 3.0 | 1.61 | |||
and | 30.0 | 36.0 | 6.0 | 16.17 | and | 58.5 | 69.0 | 10.5 | 19.64 | |||
H-063 | 19.5 | 70.5 | 51.0 | 3.34 | and | 73.5 | 81.0 | 7.5 | 1.03 | |||
incl. | 27.0 | 30.0 | 3.0 | 4.02 | incl. | 76.5 | 79.5 | 3.0 | 1.84 | |||
and | 48.0 | 70.5 | 22.5 | 6.57 | H-079 | 16.5 | 27.0 | 10.5 | 0.93 | |||
H-064 | 52.5 | 63.2 | 10.7 | 1.19 | incl. | 25.5 | 27.0 | 1.5 | 5.54 | |||
incl. | 58.5 | 63.2 | 4.7 | 2.20 | H-080 | 10.5 | 15.0 | 4.5 | 0.60 | |||
H-065 | 43.5 | 69.0 | 25.5 | 1.44 | incl. | 13.5 | 15.0 | 1.5 | 0.97 | |||
incl. | 43.5 | 46.5 | 3.0 | 1.77 | H-081 | 45.0 | 63.0 | 18.0 | 3.89 | |||
and | 61.5 | 69.0 | 7.5 | 3.01 | incl. | 46.5 | 54.0 | 7.5 | 9.19 |
Note: True thickness is estimated at approximately 90% of the drill intervals reported in the table. All holes were done at 45 degrees from horizontal.
Hole H-057 showed no significant mineralization.
Historic holes 1 through 27 were carried out and published in 2005 and holes 28 through 44 were carried out in the fall of 2009 and the results were published in February 2010.
Oxide gold results from those programs are restated below:
From | To | Length | Au | ||
Hole # | (m) | (m) | (m) | (g/t) | |
H-029 | 61.5 | 68.5 | 7.0 | 2.71 | |
Incl. | 67.5 | 68.5 | 1.0 | 16.60 | |
H-031 | 20.5 | 44.9 | 24.4 | 1.63 | |
Incl. | 30.0 | 35.7 | 5.7 | 3.31 | |
Incl. | 38.0 | 43.9 | 5.9 | 2.26 | |
H-035 | 36.0 | 38.0 | 2.0 | 1.24 | |
and | 42.0 | 73.0 | 31.0 | 2.41 | |
Incl. | 49.5 | 57.0 | 7.5 | 3.71 | |
Incl. | 58.5 | 64.0 | 5.5 | 4.93 | |
Incl. | 67.0 | 71.5 | 4.5 | 3.47 | |
H-001 | 30.8 | 39.0 | 8.2 | 0.80 | |
and | 45.0 | 57.0 | 12.0 | 3.16 | |
Incl. | 51.0 | 57.0 | 6.0 | 5.97 | |
H-005 | 51.0 | 55.3 | 4.3 | 1.33 | |
H-009 | 42.0 | 51.0 | 9.0 | 0.68 |
MAP: LOCATIONS OF DRILL HOLES
To view map please click on the following link: http://media3.marketwire.com/docs/0302NSU.pdf
Kin Communications
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www.nevsun.com