November 15, 2010
Nevsun Commences Resource Expansion Drilling
VANCOUVER, BC - Nevsun
Resources Ltd. (TSX:NSU) (NYSE Amex:NSU) is
pleased to announce the commencement of its Resource Expansion Drill
Program announced in mid September. Drilling will test the
extent of mineralization in the hanging wall copper zone, which is
immediately west and adjacent to the Bisha
Main deposit. The program will also include infill drilling at Harena, which lies 9km SW of the Bisha Main deposit. With favorable results, both
areas could add significant tonnage to the Company's reserve, extending
mine life and cash flow.
Nevsun anticipates
at least 8,000m of diamond drilling, using two rigs over the next ten
weeks. After which, results will be assessed and, if
favorable, resource/reserve estimation will be initiated on Harena while drilling continues on the hanging
wall.
Past
drilling at Bisha identified appreciable
amounts of relatively low-grade copper mineralization located up to
several hundred meters into the hanging wall. Assays included
12.0m of 2.64% Cu (Hole B-370), 19.6m of 2.11% Cu (Hole B-369), 56.5m
of 0.81% Cu (Hole B-335) and 31.5m of 0.76% Cu (Hole B-109). It
is interpreted that this zone may extend for hundreds of meters in a
north south direction. Although this mineralization is lower
grade than the Bisha Main, it is potentially
economic, which could add incremental value to the project.
The Harena deposit saw considerable drilling in 2005/06
that revealed Nevsun's third VMS near surface
deposit on the Bisha licenses, followed up by
infill drilling in 2009. Harena will be
a likely source of supplemental feed for Bisha's
processing plant, which could provide valuable cash flow and prolong
mine life.
Darin Wasylik, P.Geo., Sr. Geologist for Nevsun,
a Qualified Person as defined by National Instrument 43-101, will
oversee the drill program and has reviewed the technical contents of
this release.
Forward
Looking Statements: The above contains forward-looking statements
concerning the objectives of the drill program and potential resource
and reserve expansion. Forward-looking statements are frequently,
but not always, identified by words such as "expects," "anticipates,"
"believes," "intends," "estimates,"
"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"
Cliff T. Davis
President & Chief Executive Officer
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