The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Nevsun Drills 37.5m of 8.26% Copper Adjacent to Bisha Mine

Thursday, October 27, 2011

Nevsun Drills 37.5m of 8.26% Copper Adjacent to Bisha Mine07:45 EDT Thursday, October 27, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to report the assays from the final four diamond drill holes from the hanging wall copper phase one drilling at the Bisha Deposit. These four holes were delayed due to mining operations in the area. Highlights Extension of Bisha Main Sulphide LensNear surface copper mineralization adjacent to Bisha Main depositLikely additional feed for Bisha supergene copper phaseSelect High Grade Results Include:Hole B-464 – 37.5m at 8.26% Cu, from 31.5 meters to 69.0 metersHole B-465 – 12.0m at 1.29% Cu, from 76.0 meters to 88.0 metersDrill holes B-464 and B-465 intersected the same supergene sulphide lens that was intersected by drill hole B-395 and B-396 that were previously reported in the press release issued August 31, 2011. Drill hole spacing is approximately 50m x 50m. The sulphide lens appears to be an extension of the northwest lens of Bisha that was faulted off and is not included in currently disclosed resources. Detailed results are in the following table together with a map of the hole locations. Hole IDFrom (m)To (m)Interval (m)Au (ppm)Ag (ppm)Cu (%)Zn (%)AzimuthDipZoneB-46349.5061.5012. Cuincl.58.5061.503. CuB-46431.5069.0037.500.5832.278.260.10270-90SupgIncl.40.5051.0010.500.9870.1416.990.04Supgand58.1061.803.701.1670.0026.500.23SupgB-46545.0064.0019.000.041.950.580.02270-45HW CuIncl.57.5064.006.500.093.771.120.02HW CuAnd76.0088.0012.000.5616.751.290.01SupgB-46643.50109.5066. CuIncl.43.5046.503.000.012.502.280.01HW Cuand81.0084. CuNote: True thickness is estimated at approximately 90% of the drill intervals reported in the table.Phase II drilling of the hanging wall copper zone, designed to further infill drill the zone as well as the newly identified lens is complete and assay results are expected later in Q4. The Company also completed a 16,000 meter diamond drill program on the Bisha Main deposit below the existing planned pit. Final results of this drill program are expected soon with a second resource and reserve re-statement now targeted for Q1 2012. Nevsun had previously guided Q4 2011 but has pushed back the date due to additional drilling follow-up on the above and availability of third party engineers.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 Vancouver, Canada.Forward Looking Statements: The above contains statements regarding positive drill results, near term additional drill results and anticipated resource and reserve re-statement. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates","believes", "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 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 OfficerTo view the Map associated with this release, please visit the following link: FURTHER INFORMATION PLEASE CONTACT: 604-684-6730 or Toll Free: 1-866-684-6730Kin