Nevada Copper - Drills High Grade: 42 Meters (136 Ft) @ 3.2% Copper, 1 g/t Gold In The E-2 Deposit And 38 Meters (125 Ft) @ 3.2% Copper In The East Deposit
Drill hole NC08-39 intersected, 41.5 meters (136.2 ft), 26.6 meters (87 ft) true thickness, averaging 3.24% copper and 1.0 g/t gold in the E2 Deposit including an impressive higher grade interval of 9.1 meters (30 ft) averaging 6.0% copper and 1.75 g/t gold. NC08-39 was drilled 15 meters (50 ft) to the southwest and along strike of drill hole M-44 (44.2 meters (145 ft) averaging 2.58% copper and 0.89 g/t gold).
Recent drilling in the East Deposit also produced very favorable results that confirm and will further increase the resource. Drill hole NC08-49 intersected, 38.1 meters (125.0 ft), averaging 3.24% copper including an even higher grade zone of 14.9 meters (49 ft) averaging 5.4% copper and 0.6 g/t gold. This zone is thicker than the 4.1% copper over 12.2 meters (40 ft) and 3.3% copper over 17.4 meters (57 ft) found in NC07-05, located 40 meters (130 ft) to the southeast and along strike.
Additional holes were drilled in the East and E-2 Deposits that continue to confirm continuity or define the boundaries of the high grade mineralization. In the East Deposit NC08-18 and 48 confirmed continuity and NC08-54 defined the high grade boundary. Holes NC08-29, 47, and 55 were drilled in the E-2 Deposit. They intersected varying thicknesses of >1.0% copper along the edges of the E-2 mineralization.
The drill hole plan map for the East and E-2 Deposits are available at http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=345667.
E-2 DEPOSIT - Assays greater than 1.0% Cu
Drill Hole # |
From |
To |
Length |
Length |
True |
Copper |
Gold |
Silver |
Fe |
NC08-29 |
371.2 |
375.8 |
4.6 |
15.0 |
2.3 |
1.36 |
0.086 |
6.5 |
25.6 |
|
403.2 |
416.8 |
13.6 |
44.5 |
6.8 |
1.75 |
0.160 |
8.5 |
28.1 |
NC08-39 |
353.5 |
395.0 |
41.5 |
136.2 |
26.6 |
3.24 |
0.999 |
15.1 |
29.6 |
including |
355.0 |
364.1 |
9.1 |
29.9 |
5.8 |
6.00 |
1.745 |
28.4 |
28.2 |
NC08-47 |
339.9 |
346.0 |
6.1 |
20.0 |
3.1 |
1.56 |
0.147 |
7.4 |
37.2 |
NC08-55 |
645.5 |
656.2 |
10.7 |
35.0 |
7.6 |
1.20 |
0.161 |
6.8 |
21.7 |
EAST DEPOSIT - Assays greater than 1.0% Cu
Drill Hole # |
From |
To |
Length |
Length |
Copper |
Gold |
Silver |
Fe |
NC08-18 |
480.1 |
487.7 |
7.62 |
25.0 |
4.25 |
0.250 |
4.9 |
23.2 |
|
516.6 |
519.7 |
3.1 |
10.0 |
1.29 |
0.293 |
7.8 |
21.0 |
|
544.1 |
548.6 |
4.6 |
15.0 |
1.24 |
0.149 |
10.8 |
27.8 |
|
551.7 |
554.7 |
3.0 |
10.0 |
1.09 |
0.084 |
6.8 |
26.7 |
|
566.6 |
570.3 |
3.7 |
12.0 |
2.45 |
0.746 |
14.7 |
26.6 |
NC08-48 |
602.3 |
605.3 |
3.0 |
10.0 |
2.87 |
0.231 |
9.0 |
10.7 |
|
642.5 |
662.9 |
20.4 |
67.0 |
1.15 |
0.044 |
11.4 |
5.1 |
|
667.5 |
674.5 |
7.0 |
23.0 |
1.11 |
0.080 |
1.8 |
16.2 |
NC08-49 |
449.7 |
459.6 |
9.9 |
32.5 |
1.53 |
0.260 |
3.5 |
18.0 |
|
486.2 |
524.3 |
38.1 |
125.0 |
3.24 |
0.361 |
7.9 |
16.9 |
including |
495.6 |
510.5 |
14.9 |
49.0 |
5.37 |
0.598 |
12.4 |
11.6 |
|
542.2 |
549.5 |
7.3 |
24.0 |
1.69 |
0.109 |
6.5 |
12.7 |
NC08-54 |
625.7 |
628.0 |
2.3 |
7.5 |
2.39 |
0.220 |
3.6 |
12.6 |
|
680.3 |
683.0 |
3.0 |
10.0 |
1.21 |
0.214 |
3.7 |
29.2 |
|
701.7 |
704.7 |
3.0 |
10.0 |
1.08 |
0.175 |
4.4 |
22.0 |
NC08-56 |
Pre-collar only |
|||||||
The holes presented above complete the reporting of the results for the 2008 Pumpkin Hollow drill program. The program consisted of 73 resource, hydrological, and geotechnical holes that totaled over 26,600 meters (87,300 feet). An updated resource estimate that incorporates the 2008 drill program and the historic core re-assaying of gold, silver and molybdenum is scheduled for release in this quarter.
In November 2007, Nevada Copper updated its National Instrument 43-101 compliant resource estimate. The detailed resource summary is as follows:
COPPER - GOLD - SILVER RESOURCE
MEASURED RESOURCES
MEASURED RESOURCES
Copper |
Tons |
Copper |
lbs Copper (thousands) |
Gold |
Silver |
0.20 |
52,787 |
0.70 |
737,190 |
112,000 |
4,407,000 |
0.30 |
38,052 |
0.88 |
665,850 |
98,000 |
3,584,000 |
0.75 |
14,271 |
1.54 |
440,296 |
60,000 |
1,797,000 |
INDICATED RESOURCES
Copper |
Tons |
Copper |
lbs Copper |
Gold |
Silver |
0.20 |
289,948 |
0.56 |
3,230,498 |
522,000 |
22,236,000 |
0.30 |
189,416 |
0.73 |
2,745,190 |
421,000 |
16,591,000 |
0.75 |
53,687 |
1.38 |
1,476,062 |
206,000 |
6,428,000 |
MEASURED AND INDICATED RESOURCES
Copper |
Tons |
Copper % Grade |
lbs Copper |
Gold |
Silver |
0.20 |
342,735 |
0.58 |
3,967,688 |
635,000 |
26,643,000 |
0.30 |
227,468 |
0.75 |
3,411,040 |
520,000 |
20,175,000 |
0.75 |
67,958 |
1.41 |
1,916,358 |
267,000 |
8,225,000 |
INFERRED RESOURCES
Copper |
Tons |
Copper |
lbs Copper |
Gold |
Silver |
0.20 |
438,164 |
0.45 |
3,906,825 |
647,000 |
30,680,000 |
0.30 |
231,079 |
0.63 |
2,913,251 |
462,000 |
19,197,000 |
0.75 |
47,710 |
1.31 |
1,252,129 |
177,000 |
5,650,000 |
Within this estimate, at a 1% copper cutoff, the East and E2 Deposits stood at: Measured, 6.5 million tons at 1.91% copper; Indicated, 19.6 million tons at 1.78% copper; and Inferred, 13.7 million tons at 1.59% copper. Additionally, there is also an open-pit measured and indicated resource of 53.2 million tons of iron and inferred resource of 91.4 million tons of iron.
Nevada Copper continues its systematic program to develop the advanced stage Pumpkin Hollow IOCG Property with the resource delineation drilling program, metallurgical, geotechnical, hydrological, condemnation data and environmental baseline data for purposes of a Feasibility Study planned to commence in 2009.
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, 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.
NEVADA COPPER CORP.
Giulio T. Bonifacio
President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although Nevada Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper's annual filings that are available at www.sedar.com.
| For further information call: | OR: |
| Eugene Toffolo, Corporate Communications | Giulio T. Bonifacio, President & CEO |
| Phone: 604-683-8266 | Phone: 604-699-0023 |
| Tollfree: 1-877-648-8266 | Email: |
Nevada Copper - Intersects 225 Meters (739 Feet) of 0.62% Copper
NC08-46 intersected a large mineralized zone, 225.3 meters (739 ft), 195.2 meters true thickness, averaging 0.62% copper. This in fill hole was drilled as a follow up to the recently discovered NC08-20 mineralization located along the southern boundary of the North deposit. NC08-20 which was previously announced is located 30 meters south of NC08-46 and intersected 235.6 meters (773.0 ft), averaging
1.03 % copper.
Additionally, NC08-42 drilled as an infill hole in the eastern portion of the North deposit confirmed continuity and intersected several zones of mineralization, the largest 11.7 meters (38.5 ft), averaged 2.65 % copper. Holes NC08-60 and 61 were drilled as infill to improve the resource status of the shallow mineralization located along the northern border of the North deposit.
An NI 43-101 compliant updated resource estimate to incorporate these results and over 26,600 meters (87,300 feet) of drilling in 2008 is scheduled for completion in the second quarter of 2009. Open pit resources on the property are included in both the North and South deposits. In November of 2007 the Company reported a combined copper resource estimate for both the North and South deposits, at a 0.2% cutoff of: Measured, 19.6 million at 0.645% copper; Indicated, 142.3 million at 0.51% copper; and Inferred, 233.8 million at 0.44 % copper for a total of 1.7 billion pounds of contained copper in the Measured and Indicated categories and further 2 billion pounds of contained copper in the Inferred category. Management expects this estimate to be positively impacted as a result of the successful 2008 drilling program.
A North deposit plan map and a cross section with hole NC08-46 is available at http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=186142. Drill results announced here represent true thicknesses.
| Drill Hole # |
From (m) |
To (m) |
Length (m) |
Length (ft) |
True Length (m) |
Copper (%) |
Gold (g/t) |
Silver (g/t) |
Mo (%) |
| NC08-42 | 215.4 | 227.1 | 11.7 | 38.5 | 11.7 | 2.65 | 0.130 | 8.8 | 0.008 |
|
237.3 | 244.8 | 7.5 | 24.5 | 7.5 | 0.47 | 0.060 | 2.6 | 0.004 |
| 274.3 | 281.3 | 7.0 | 23.0 | 7.0 | 0.57 | 0.044 | 1.7 | 0.002 | |
| NC08-46 | 134.1 | 138.7 | 4.6 | 15.0 | 3.9 | 0.81 | 0.039 | 2.4 | 0.004 |
| 184.1 | 409.4 | 225.3 | 739.0 | 195.2 | 0.62 | 0.072 | 1.6 | 0.007 | |
| NC08-60 | 76.2 | 106.7 | 30.5 | 100.0 | 23.4 | 0.49 | 0.006 | 0.7 | 0.004 |
| NC08-61 | 115.8 | 120.4 | 4.6 | 15.0 | 3.5 | 1.05 | 0.024 | 0.7 | 0.019 |
Of the 73 holes totaling 26,600 meters (87,300 feet) drilled during 2008 program, the four holes presented in this press release represent the remaining results for the North deposit. Outstanding results for the East and E-2 deposits will be released as they become available in the second quarter of 2009.
In other recent project developments Joe Kircher, Chief Operating Officer commented: Nevada Copper is continuing with its optimization studies with a view to further enhance already robust economics. Our Project attributes include high grade copper and gold resources which allow for a mine production profile that significantly reduces capital costs, is resilient to lower copper prices and realizes excellent financial metrics. These studies which are preliminary in nature are progressing and will be reported subsequent to the incorporation of the results of the updated resource estimate scheduled for release in Q2."
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, 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
NEVADA COPPER CORP.
Giulio T. Bonifacio
President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Eugene Toffolo, Corporate Communications
Phone: 604-683-8266
Tollfree: 1-877-648-8266
Email: info@nevadacopper.com
Nevada Copper - Reports High-Grade Drill Results In The South Deposit: 48.5 Meters (159.0 Ft) @ 1.40% Copper
Drill hole NC08-52 was drilled in the South Deposit to follow-up and expand on the shallow high-grade copper mineralization discovered during the 2007 drill program. The hole was collared 30 meters west of NC07-30 which intersected 27.4 meters (90 ft) averaging 2.30% copper. NC08-52 intersected 48.5 meters (159.0 ft), 31.2 meters true thickness, averaging 1.40% copper.
Drill holes NC08-58, 59, and 62, also in the South Deposit, were drilled as shallow infill continuity holes. Drill hole NC08-58 intersected 68.6 meters (225.0 ft), 44.1 meters true thickness, averaging 0.50% copper and 45.9% iron. NC08-58 confirmed the continuity of mineralization with the adjacent drill holes. The hole was collared 60 meters east of US Steel hole L-50 which averaged 0.31% copper over 24 meters and 0.61% copper over 57 meters.
An updated resource estimate that incorporates over 26,600 meters (87,300 feet) of drilling and the historic core re-assaying of gold, silver and molybdenum is scheduled for completion in the first half of 2009. Drill results announced here represent true thicknesses and are summarized below:
SOUTH DEPOSIT -- Open Pit: Assays greater than 0.3% Cu
Drill Hole # |
From |
To |
Length |
Length |
True |
Copper |
Gold |
Silver |
Fe |
NC08-45 |
No Significant Cu over 0.3% |
||||||||
NC08-50 |
153.0 |
157.3 |
4.3 |
14.0 |
2.8 |
0.62 |
0.089 |
0.5 |
17.4 |
NC08-52 |
59.4 |
68.6 |
9.2 |
30.0 |
5.9 |
0.83 |
0.072 |
0.3 |
39.7 |
|
95.4 |
143.9 |
48.5 |
159.0 |
31.2 |
1.40 |
0.170 |
0.8 |
41.8 |
NC08-53 |
26.7 |
60.4 |
33.7 |
110.4 |
21.6 |
0.52 |
0.058 |
0.4 |
8.5 |
|
77.1 |
95.1 |
18.0 |
59.0 |
11.6 |
0.48 |
0.065 |
0.3 |
28.1 |
NC08-57 |
122.8 |
132.3 |
9.5 |
31.0 |
6.1 |
0.66 |
0.093 |
3.3 |
36.9 |
|
152.4 |
160.9 |
8.5 |
28.0 |
5.4 |
0.31 |
0.120 |
3.1 |
24.8 |
|
215.9 |
224.6 |
8.7 |
28.5 |
5.6 |
0.51 |
0.040 |
1.8 |
25.5 |
|
239.9 |
267.3 |
27.4 |
90.0 |
17.6 |
0.43 |
0.073 |
4.3 |
27.8 |
NC08-58 |
129.5 |
198.1 |
68.6 |
225.0 |
44.1 |
0.50 |
0.110 |
2.8 |
45.9 |
NC08-59 |
137.1 |
155.4 |
18.3 |
60.0 |
11.8 |
1.07 |
0.037 |
0.4 |
19.4 |
NC08-62 |
77.7 |
82.3 |
4.6 |
15.0 |
3.0 |
0.39 |
0.088 |
1.4 |
12.4 |
Results show that holes NC08-45 and 50 that were drilled along the margins of the South Deposit have bounded mineralization. Drill hole NC0-57 was drilled along the southern margin and confirmed the up-dip extension of mineralization.
Drill hole NC08-44, drilled to improve the resource classifications in the open pit Southeast Deposit intersected 69.8 meters (229.0 ft), 49.4 meters true thickness, averaging 0.56% copper. Drill hole NC08-51 was drilled along the margin of the Southeast Deposit and currently bounds copper mineralization to the west.
SOUTHEAST DEPOSIT -- Open Pit: Assays greater than 0.3% Cu
Drill Hole # |
From |
To |
Length |
Length |
True |
Copper |
Gold |
Silver |
Fe |
NC08-44 |
89.9 |
117.3 |
27.4 |
90.0 |
19.4 |
0.57 |
0.120 |
0.9 |
37.0 |
|
196.9 |
266.7 |
69.8 |
229.0 |
49.4 |
0.56 |
0.087 |
0.6 |
35.9 |
NC08-51 |
149.3 |
161.5 |
12.2 |
40.0 |
7.9 |
0.35 |
0.087 |
1.0 |
13.8 |
In 2008, 73 holes were drilled for a total of 26,600 meters (87,300 feet). To date assay results from 59 holes have been reported with further drilling results being released as they become available throughout the remainder of the first quarter of 2009.
An updated plan map for the South and Southeast Deposits is available at http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=191564.
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, 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.
About Nevada Copper
Nevada Copper has 40.6 million shares outstanding and is well financed with no debt. For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-iron property into Nevada's next copper mine. Concurrent with the resource delineation drilling program, metallurgical, geotechnical, hydrological, condemnation data and environmental baseline data are being processed. The current program will support an updated resource estimate and Definitive Feasibility Study in that will commence in 2009.
In November 2007, Nevada Copper updated its National Instrument 43-101 compliant resource estimate. At a 0.2% copper cutoff grade, the measured and indicated copper resource is 3.96 billion pounds of copper, contained in 343 million tons grading 0.58% copper and 635 thousand ounces of gold and 26.6 million ounces of silver. An inferred copper resource of 3.91 billion pounds of copper is contained in 438 million tons grading 0.45% copper and 647 thousand ounces of gold and 30.1 million ounces of silver. Additionally, there is also an open-pit measured and indicated resource of 53.2 million tons of iron and inferred resource of 91.4 million tons of iron.
Within these large resources is a significant high grade copper resource in the East and E2 deposits. Using a 0.75% copper cutoff grade, the measured and indicated resources contain 1.2 billion pounds of copper in 41.6 million tons of material grading 1.46% copper and, in addition, the inferred resource contains 635 million pounds of copper within 25.3 million tons grading 1.25% copper.
Additionally, there are open pit resources on the property in both the North and South deposits. In November of 2007 the Company reported a combined NI 43-101 compliant copper resource estimate for both the North and South deposits at a 0.2% cutoff of: Measured, 19.6 million at 0.645% copper; Indicated, 142.3 million at 0.51% copper; and Inferred, 233.8 million at 0.44 % copper for a total of 3.7 billion pounds of contained copper.
NEVADA COPPER CORP.
Giulio T. Bonifacio
President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although Nevada Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper's annual filings that are available at www.sedar.com.
For further information call:
Eugene Toffolo, Corporate Communications
Phone: 604-683-8266
Tollfree: 1-877-648-8266
OR:
Giulio T. Bonifacio, President & CEO
Phone: 604-699-0023
Email: info@nevadacopper.com
Nevada Copper - Drilling Expands The North Deposit With Significant Copper Intercepts
Follow-up step-out drilling of previous drill hole NC08-20 (236 meters at 1.03% copper) has been extremely successful in extending mineralization along the southern boundary of the North Deposit. NC08-40 was drilled 60 meters to the south and intersected several large mineralized zones including: 68.3 meters (216.5 ft) averaging 0.63% copper and 82.9 meters (272.0 ft) averaging 0.58% copper. Additionally NC08-41 drilled 60 meters east of NC08-20 intersected 192 meters (629 ft) of mineralization greater than 0.3% copper including: 62.8 meters (206.0 ft) averaging 0.65% copper and 59.4 meters (195 ft) averaging 0.67% copper.
Mineralization also remains open on the eastern boundary of the North Deposit. Drill hole NC08-35, drilled as a step-out, intersected 50.8 meters (166.5 ft), averaging 0.45% copper. NC08-35 and previously drilled NC08-12 continue to show that the additional drilling to the East has been successful in expanding mineralization. Drill hole NC08-30 drilled as an infill hole, intersected 75.6 meters (248.0 ft), 43.3 meters true thickness, averaging 0.96% copper. The drill hole as expected confirmed the down-dip continuity of mineralization.
Gregory French, Nevada Copper's Project Manager commented, "The 2008 drilling program has been a huge success in both confirming continuity necessary for upgrading the mineral classifications and in expanding the North Deposit. Both the east extension and the robust mineralization discovered in drill hole NC08-20 remain open. Expanding mineralization in these areas will be one of the priorities going forward."
An updated resource estimate that incorporates over 26,600 meters (87,300 feet) of drilling and the historic core re-assaying of gold, silver and molybdenum is scheduled for completion in the first half of 2009.
Open pit resources on the property are included in both the North and South deposits. In November of 2007 the Company reported a combined NI 43-101 compliant copper resource estimate for both the North and South deposits, at a 0.2% cutoff of: Measured, 19.6 million at 0.645% copper; Indicated, 142.3 million at 0.51% copper; and Inferred, 233.8 million at 0.44% copper for a total of 3.7 billion pounds of contained copper.
A North deposit plan map and a cross section with hole NC08-40 is available at http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=186142.
Drill results announced here represent true thicknesses.
NORTH DEPOSIT -- Open Pit: Assays greater than 0.3% Cu
Drill Hole # |
From |
To |
Length |
Length |
True |
Copper |
Gold |
Silver |
Mo |
NC08-30 |
235.3 |
236.8 |
1.5 |
5 |
0.9 |
1.36 |
0.058 |
4.9 |
<0.001 |
|
245.7 |
252.7 |
7.0 |
23.0 |
4.0 |
0.82 |
0.032 |
2.3 |
0.001 |
|
342.3 |
417.9 |
75.6 |
248.0 |
43.3 |
0.96 |
0.054 |
2.6 |
0.005 |
|
427.9 |
433.4 |
5.5 |
18.0 |
3.2 |
1.83 |
0.059 |
3.8 |
0.008 |
|
447.1 |
457.2 |
10.1 |
33.0 |
5.8 |
0.53 |
0.017 |
1.5 |
0.003 |
NC08-35 |
234.8 |
285.6 |
50.8 |
166.5 |
50.8 |
0.45 |
0.054 |
1.4 |
0.002 |
|
309.4 |
313.3 |
3.9 |
13.0 |
13.0 |
0.35 |
0.005 |
0.5 |
<0.001 |
NC08-36 |
177.4 |
210.3 |
32.9 |
108 |
18.9 |
0.44 |
0.034 |
3.5 |
0.006 |
|
220.1 |
275.2 |
55.1 |
181.0 |
31.6 |
0.66 |
0.088 |
2.4 |
0.007 |
|
281.3 |
290.4 |
9.1 |
30.0 |
5.2 |
0.39 |
0.022 |
1.1 |
0.008 |
|
301.1 |
307.2 |
6.1 |
20.0 |
3.5 |
0.41 |
0.009 |
0.9 |
0.004 |
NC08-38 |
178.3 |
199.6 |
21.3 |
70.0 |
17.4 |
0.35 |
0.063 |
1.6 |
0.002 |
|
272.8 |
281.9 |
9.1 |
30.0 |
8.2 |
0.34 |
0.065 |
1.0 |
0.004 |
|
293.2 |
371.9 |
78.7 |
258.0 |
70.8 |
0.67 |
0.080 |
1.8 |
0.002 |
NC08-40 |
105.1 |
108.2 |
3.1 |
10.0 |
3.1 |
0.35 |
0.010 |
0.4 |
0.004 |
|
139.0 |
207.3 |
68.3 |
216.5 |
68.3 |
0.63 |
0.046 |
2.0 |
0.010 |
|
225.9 |
308.8 |
82.9 |
272.0 |
82.9 |
0.58 |
0.060 |
1.4 |
0.009 |
|
335.6 |
338.8 |
3.2 |
10.5 |
3.2 |
0.44 |
0.041 |
1.2 |
0.003 |
|
345.3 |
356.0 |
10.7 |
35.0 |
10.7 |
0.63 |
0.086 |
2.1 |
0.003 |
|
386.5 |
406.3 |
19.8 |
65.0 |
19.8 |
0.68 |
0.090 |
2.4 |
0.007 |
NC08-41 |
83.8 |
96.0 |
12.2 |
40.0 |
12.2 |
0.74 |
0.011 |
1.2 |
0.005 |
|
134.1 |
143.2 |
9.1 |
30.0 |
9.1 |
0.31 |
0.016 |
0.8 |
0.003 |
|
164.6 |
167.6 |
3.0 |
10.0 |
3.0 |
0.60 |
0.035 |
1.6 |
0.004 |
|
189.0 |
199.6 |
10.6 |
35.0 |
10.6 |
1.33 |
0.230 |
4.2 |
0.004 |
|
245.4 |
250.9 |
5.5 |
18.0 |
5.5 |
0.33 |
0.011 |
0.9 |
0.001 |
|
265.5 |
328.3 |
62.8 |
206.0 |
62.8 |
0.65 |
0.073 |
3.0 |
0.008 |
|
338.9 |
354.2 |
15.2 |
50.0 |
15.2 |
0.63 |
0.086 |
2.3 |
0.004 |
|
360.3 |
363.3 |
3.0 |
10.0 |
3.0 |
0.36 |
0.038 |
1.2 |
0.008 |
|
387.7 |
398.4 |
10.7 |
35.0 |
10.7 |
0.38 |
0.088 |
1.4 |
0.001 |
|
413.6 |
473.0 |
59.4 |
195.0 |
59.4 |
0.67 |
0.092 |
2.5 |
0.002 |
Drill holes NC08-36 and NC08-38 were drilled as infill holes in the eastern portion of the North Deposit and continue to confirm the continuity of the copper mineralization.
In 2008, 73 holes were drilled with assay results from 49 holes that have been reported. Additional drilling results will be released as they become available throughout the remainder of the first quarter of 2009.
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, 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.
About Nevada Copper
Nevada Copper has 40.6 million shares outstanding and is well financed with no debt.
Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-iron property into Nevada's next copper mine. Concurrent with the resource delineation drilling program, metallurgical, geotechnical, hydrological, condemnation data and environmental baseline data are being processed. The current program will support an updated resource estimate and Definitive Feasibility Study in that will commence in 2009.
In March, 2008 Nevada Copper announced initial economic results which were robust from an NI43-101 compliant Preliminary Economic Assessment ("PEA") which was based on the resource estimated reported in November 2007. The PEA evaluates an integrated underground and open pit mining operation with a standard milling and floatation plant that will produce high-grade copper concentrates. Annual production will average 95,000 tons of copper per year over a mine life exceeding 20 years. Highlights from the PEA at copper prices from $1.75 to $3.00 per lb. copper are as follows:
- Net Present Value $784 Million to $1.9 Billion at an 8% discount rate;
- Internal Rate of Return 20.6% to 29.4%;
- Operating Cost $0.57/lb of copper, direct and $1.02/lb total, net of by-product credits;
- Capital Cost Estimate $665 Million before contingencies and working capital, $780 inclusive;
- Project payback from start of construction 3.1 to 4.8 years
In November 2007, Nevada Copper updated its National Instrument 43-101 compliant resource estimate. At a 0.2% copper cutoff grade, the measured and indicated copper resource is 3.96 billion pounds of copper, contained in 343 million tons grading 0.58% copper and 635 thousand ounces of gold and 26.6 million ounces of silver. An inferred copper resource of 3.91 billion pounds of copper is contained in 438 million tons grading 0.45% copper and 647 thousand ounces of gold and 30.1 million ounces of silver. Additionally, there is also an open-pit measured and indicated resource of 53.2 million tons of iron and inferred resource of 91.4 million tons of iron.
Within these large resources is a significant high grade copper resource in the East and E2 deposits. Using a 0.75% copper cutoff grade, the measured and indicated resources contain 1.2 billion pounds of copper in 41.6 million tons of material grading 1.46% copper and, in addition, the inferred resource contains 635 million pounds of copper within 25.3 million tons grading 1.25% copper.
For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio
President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Eugene Toffolo, Corporate Communications
Phone: 604-683-8266
Tollfree: 1-877-648-8266
OR:
Giulio T. Bonifacio, President & CEO
Phone: 604-699-0023
Email: info@nevadacopper.com
Nevada Copper - Intersects 90 Meters (294 Feet) of 1.03% Copper in the Open Pittable South Deposit
In 2008, 73 holes were drilled for a total of 26,600 meters (87,300 feet). To date assay results from 43 holes have been reported with further drilling results being released as they become available throughout the remainder of the first quarter of 2009.
An updated resource estimate to incorporate over 26,600 meters (87,300 feet) of drilling and 16,000 meters (52,500 feet) of historic core that was assayed for gold, silver and molybdenum is scheduled for completion in the first half of 2009.
Mr. Joe Kircher, Nevada Copper's COO commented, "We are very encouraged with our drilling results to date from the South Deposit drilling and expect them to positively impact both the tenor and total copper resource of this relatively shallow deposit. In fact, the South Deposit may ultimately prove to be the new economic driver of Pumpkin Hollow's open pit production."
An updated resource estimate for the entire Pumpkin Hollow Project is currently underway and scheduled for release in the 1st quarter of 2009. In November of 2007, the Company reported a NI 43-101 compliant copper resource estimate for the South/Southeast Deposit, at a 0.2% cutoff, of: Measured 9.4MM tons @ 0.46% copper, Indicated 77.8 MM tons at 0.46% copper, and an additional Inferred resource of 75.9 MM tons @ 0.37% copper, resulting in a total contained copper resource of 1.4 billion pounds.
Drill hole NC08-25 in the South Deposit intersected 89.6 meters (294.0 ft), 77.7 meters true thickness, averaging 1.03% copper. NC08-25 was drilled as an infill hole targeting the up-dip extension of copper mineralization along the southern boundary of the South Deposit. Additionally, drill hole NC08-23, also drilled as an infill hole in the South Deposit, intersected several large zones of copper mineralization: 61.3 meters (201.0 ft), 52.5 meters true thickness, averaging 1.00% copper and 80.1 meters (263.0 ft), 68.7 meters true thickness, averaging 0.66% copper. The mineralized zones confirmed continuity especially with adjacent hole L-88 (61 meters west) which intersected 59.1 meters (194.0 ft), averaging 1.53% copper and 86.3 meters (283 ft), averaging 0.65% copper.
Drill holes NC08-31, 33, and 34 were drilled as infill holes near the southern edge of the copper mineralization and intersected several smaller zones mineralization. A South Deposit plan map and a cross section with holes NC08-25 and 31 are available at http://www.nevadacopper.com/s/PumpkinHollow.asp?ReportID=191564. Drill results announced here represent true thicknesses.
| Drill Hole # | From (m) |
To (m) |
Length (m) |
Length (ft) |
True Length (m) |
Copper (%) |
Gold (g/t) |
Silver (g/t) |
Fe (%) |
| NC08-23 | 216.7 | 224.8 | 8.1 | 26.5 | 6.9 | 0.84 | 0.035 | 1.7 | 7.5 |
|
248.1 | 309.4 | 61.3 | 201.0 | 52.5 | 1.00 | 0.144 | 7.1 | 34.3 |
| 346.0 | 426.1 | 80.1 | 263.0 | 68.7 | 0.66 | 0.079 | 2.0 | 17.3 | |
| NC08-25 | 132.6 | 137.2 | 4.6 | 15.0 | 3.9 | 0.47 | 0.060 | 3.5 | 9.3 |
| 160.9 | 165.5 | 4.6 | 15.0 | 3.9 | 0.79 | 0.080 | 3.5 | 8.7 | |
| 174.7 | 264.3 | 89.6 | 294.0 | 77.7 | 1.03 | 0.127 | 6.5 | 31.9 | |
| 337.4 | 342.0 | 4.6 | 15.0 | 3.9 | 0.42 | 0.044 | 1.3 | 28.6 | |
| NC08-31 | 189.1 | 199.0 | 9.9 | 32.5 | 8.5 | 0.33 | 0.011 | 1.5 | 20.5 |
| 238.6 | 272.3 |
33.7 | 110.5 | 28.9 | 0.64 | 0.026 | 1.9 | 6.8 | |
| 281.3 | 285.0 | 3.7 | 12.0 | 3.2 | 0.40 | 0.027 | 1.4 | 13.0 | |
| 292.0 | 298.4 | 7.9 | 26.0 | 6.8 | 0.56 | 0.060 | 3.1 | 23.8 | |
| NC08-33 | 218.4 | 225.0 | 6.6 | 21.5 | 5.6 | 0.55 | 0.027 | 0.8 | 36.3 |
| 234.1 | 240.2 | 6.1 | 20.0 | 5.2 | 0.70 | 0.014 | 0.3 | 19.3 | |
| NC08-34 | 122.7 | 136.7 | 14.0 | 46.0 | 12.0 | 0.44 | 0.071 | 3.7 | 23.0 |
| 189.4 | 181.0 | 21.6 | 71.0 | 18.5 | 0.50 | 0.081 | 4.3 | 36.6 | |
| 250.9 | 253.9 | 3.0 | 10.0 | 2.6 | 0.32 | 0.074 | 2.3 | 44.3 | |
| 269.1 | 276.6 | 7.5 | 24.5 | 6.4 | 0.34 | 0.089 | 3.0 | 34.9 |
Drill holes NC08-27 and 32 were drilled in the shallow open pittable Southeast Deposit. The Southeast Deposit is a possible candidate for a starter pit as the mineralization is shallower than the more massive North and South deposits. Drill hole NC08-27 was designed as an infill hole and intersected 48.8 meters (160 ft), 28.0 meters true thickness, averaging 0.42% copper. NC08-32 also drilled as an infill hole intersected a small zone of Tertiary gold mineralization in addition to the older IOGC mineralization, 6.1 meters (20 ft), averaging 1.93 g/t gold in the younger conglomerates.
| Drill Hole # | From (m) |
To (m) |
Length (m) |
Length (ft) |
True Length (m) |
Copper (%) |
Gold (g/t) |
Silver (g/t) |
Fe (%) |
| NC08-27 | 88.4 | 109.7 | 21.3 | 70.0 | 12.2 | 0.47 | 0.091 | 1.5 | 56.8 |
| 133.5 | 143.3 | 9.8 | 32.0 | 5.6 | 0.35 | 0.097 | 4.4 | 28.1 | |
| 173.8 | 189.0 | 15.2 | 50.0 | 8.7 | 0.56 | 0.075 | 1.7 | 60.9 | |
| 198.7 | 247.5 | 48.8 | 160.0 | 28.0 | 0.42 | 0.052 | 0.7 | 29.6 | |
| including | 76.2 | 194.2 | 118.0 | 387.0 | 67.5 | 0.29 | 0.057 | 1.4 | 48.1 |
NC08-32,-70° |
30.5 | 36.6 | 6.1 | 20 | 4.2 | <0.001 | 1.93 | 0.4 | 3.7 |
|
144.8 | 147.8 | 3.0 | 10.0 | 2.1 | 1.69 | 0.045 | 3.1 | 40.9 |
|
158.5 | 167.6 | 9.1 | 30.0 | 6.3 | 0.52 | 0.050 | 3.8 | 33.8 |
|
235.5 | 249.0 | 13.5 | 44.5 | 9.4 | 0.36 | 0.047 | 0.6 | 31.7 |
Nevada Copper continues its program to develop its advanced stage Pumpkin Hollow IOCG Property with the resource delineation drilling program, metallurgical, geotechnical, hydrological, condemnation data and environmental baseline data for purposes of a Feasibility Study planned to commence in 2009.
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, 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.
NEVADA COPPER CORP.
Giulio T. Bonifacio
President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Eugene Toffolo, Corporate Communications
Phone: 604-683-8266
Tollfree: 1-877-648-8266
OR:
Giulio T. Bonifacio, President & CEO
Phone: 604-699-0023
Email: info@nevadacopper.com