VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 3, 2011) - Nevada Copper Corp. (News - Market indicators) ("Nevada Copper")is pleased to announce further positive drill results from the Western Deposits at the 100% owned Pumpkin Hollow Property located in Nevada. The holes reported below represent assay results from geotechnical drilling related to the Definitive Feasibility Study ("DFS") and initial drill results from the current 20,000 meter step-out and expansion program. Geotechnical drilling and data collection is now complete with all three (3) drilling rigs focused on the expansion drilling program.
In the North Deposit, NC10-GT09 was drilled to collect geotechnical data in the southwestern portion of this deposit. A very large mineralized zone was intersected, the upper portion of the hole confirmed existing mineralization and the lower portion continued in new mineralization. The southwestern boundary of the deposit remains open. Drill hole NC-GT-09 intersected 1,191 feet (363 meters), 1,164 feet (355 meters) true thickness, averaging 0.49% copper.
NC10-75 and 76 were drilled to extend mineralizationin the northwestern portion of the open pit North Deposit. These holes were pre-collared in 2010 and later completed and assayed in 2011.
"Drilling in the North Deposit continues to intersect significant zones of mineralization. NC10-GT09 intersected one of the largest mineralized zones to date. The hole proved very positive as not only was necessary geotechnical data collected and mineral continuity confirmed, the hole was successful in expanding mineralization along the southern boundary of the deposit. Follow up holes are planned and will be added to 2011 program", commented Gregory French, Vice President, Senior Project Manager of Nevada Copper.
| NORTH DEPOSIT – Assays greater than 0.2% Cu |
|
| Drill Hole # |
From
(m |
) |
To
(m |
) |
Length
(m |
) |
Length
(ft |
) |
True
Length
(m |
) |
Copper
(% |
) |
Gold
(g/t |
) |
Silver
(g/t |
) |
Mo
(% |
) |
| NC10-GT09 |
165.9 |
|
528.8 |
|
362.9 |
|
1,190.6 |
|
354.9 |
|
0.49 |
|
0.073 |
|
1.9 |
|
0.007 |
|
| Including |
176.8 |
|
272.8 |
|
96.0 |
|
315.0 |
|
93.9 |
|
0.80 |
|
0.104 |
|
3.1 |
|
0.007 |
|
| |
356.6 |
|
408.4 |
|
51.8 |
|
170.0 |
|
50.7 |
|
0.52 |
|
0.075 |
|
2.3 |
|
0.012 |
|
| |
429.8 |
|
518.2 |
|
88.4 |
|
290.0 |
|
86.5 |
|
0.60 |
|
0.114 |
|
1.7 |
|
0.007 |
|
| |
NC10-75 |
266.7 |
|
281.9 |
|
15.2 |
|
50.0 |
|
10.7 |
|
1.09 |
|
0.032 |
|
0.8 |
|
<0.001 |
|
| |
294.1 |
|
317.0 |
|
22.9 |
|
75.0 |
|
16.2 |
|
0.20 |
|
0.004 |
|
0.6 |
|
0.004 |
|
| |
371.9 |
|
376.4 |
|
4.5 |
|
15.0 |
|
3.2 |
|
0.54 |
|
0.019 |
|
1.3 |
|
0.002 |
|
| |
NC10-76 |
189.0 |
|
205.1 |
|
16.1 |
|
53.0 |
|
11.4 |
|
0.49 |
|
0.024 |
|
0.9 |
|
0.001 |
|
| |
214.9 |
|
221.0 |
|
6.1 |
|
20.0 |
|
4.3 |
|
0.97 |
|
0.024 |
|
1.3 |
|
0.001 |
|
| |
357.7 |
|
389.9 |
|
32.2 |
|
105.8 |
|
22.8 |
|
0.75 |
|
0.021 |
|
1.0 |
|
0.003 |
|
Geotechnical holes NC10-GT06, GT08, and GT11 were drilled in the South Deposit. NC10-GT06 and GT11 were drilled predominantly in footwall lithologies of the northwest and south portions of the deposit. NC10-GT08 was drilled though mineralization to the northwest. The hole intersected a large zone that confirmed the mineralization, intersecting 614 feet (187 meters), 470 feet (143 meters) true thickness averaging 0.43% copper.
| SOUTH DEPOSIT – Assays greater than 0.2% Cu |
|
| Drill Hole # |
From
(m |
) |
To
(m |
) |
Length
(m |
) |
Length
(ft |
) |
True
Length
(m |
) |
Copper
(% |
) |
Gold
(g/t |
) |
Silver
(g/t |
) |
Fe
(% |
) |
| NC10-GT06 |
125.0 |
|
152.4 |
|
27.4 |
|
90.0 |
|
23.0 |
|
0.57 |
|
0.103 |
|
4.3 |
|
25.7 |
|
| |
285.3 |
|
292.8 |
|
7.5 |
|
24.7 |
|
6.3 |
|
0.32 |
|
0.131 |
|
2.8 |
|
16.8 |
|
| NC10-GT08 |
127.1 |
|
314.2 |
|
187.1 |
|
614.0 |
|
143.3 |
|
0.43 |
|
0.054 |
|
1.3 |
|
30.8 |
|
| NC10-GT11 |
163.1 |
|
294.4 |
|
131.3 |
|
431.0 |
|
100.6 |
|
0.39 |
|
0.092 |
|
1.0 |
|
2.5 |
|
Plan maps with recent drill locations are available at http://www.nevadacopper.com/i/pdf/NO_section_48100E.pdf.
About Nevada Copper
Nevada Copper has 59.0 million shares outstanding and is well funded with no debt and approximately $21 million in cash. The DFS is being prepared by Tetra Tech and targeted for completion by June 30, 2011. Further drill results from its resource step-out and expansion drilling program will be released as they become available.
The Pumpkin Hollow drilling program is under the supervision of Gregory French, CPG #10708, and a Qualified Person as defined in Canadian National Instrument 43-101, who is responsible for the preparation of the technical information in this news release. All assaying and whole rock geochemistry is processed at the American Assay Laboratories (AAL) in Reno, Nevada. Samples are delivered from the project core logging facility to AAL by Nevada Copper or AAL personnel. A Quality Assurance and Quality Control Assay Protocol have been implemented whereby blanks and standards are inserted into the assay stream and check samples are sent to Chemex-Reno and Inspectorate-Reno laboratories.
For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
To see additional maps, please visit the following link: http://media3.marketwire.com/docs/nc52.pdf.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
We seek safe harbour.
