Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

May 18, 2010 10:06 ET

Nevada Copper Discovers Two New Zones Intersecting 275 Feet of 0.98% Copper and 155 Feet of 0.82% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is very pleased to announce further drill results at the 100% owned Pumpkin Hollow Property located in Nevada. Drill results reported here represent results from Nevada Copper's current drilling program which has recently been increased from 25,000 meters (82,000 ft) to 36,000 meters (118,000 ft) of resource drilling. To date, results from 42 of 63 holes that will be drilled in the expanded program have been reported with further drill results pending. Currently, three drill rigs are operating at the Pumpkin Hollow Property as part of this expanded drilling program

NC10-31 was drilled as a step out hole to follow up open mineralization in the southeastern portion of the open pittable North Deposit. NC10-31 confirmed the continuity of mineralization with the adjacent holes and discovered two new deeper zones. The four mineralized zones in hole NC10-31 total over 178 meters (585 ft) of greater than 0.80% copper. The two new deeper zones discovered intersected in hole NC10-31 are 83.8 meters (275 ft) averaging 0.98% copper and 47.2 meters (155 ft) averaging 0.82% copper. Mineralization remains open and follow up drilling is currently being planned.

Mr. Gregory French, Senior Project Manager of Nevada Copper commented, "The historic drilling located near NC10-31 intersected sporadic copper mineralization while ending in mineralization. While NC10-31 was drilled to test for deeper mineralization, the robust nature and discovery of this mineralization is extremely positive. The success of this hole and recent hole NC10-29 confirm that we have yet to define the limits of mineralization in the North Deposit." Mr. French commented further, "We are extremely pleased with the current drilling program which continues to produce very positive results."

NC10-27 also drilled in the North Deposit confirmed the continuity of shallow mineralization along the northern edge of the deposit. The grades and thicknesses were similar to the adjacent holes.

Plan maps with the respective drill locations in the South and North Deposit are available at www.nevadacopper.com.

NORTH DEPOSIT – Assays greater than 0.3% Cu
Drill Hole # From (m)   To (m)   Length (m)   Length (ft)   True Length(m)   Copper (%)   Gold (g/t)   Silver (g/t)   Mo (%)
NC10-27 181.4   196.6   15.2   50.0   5.9   0.46   0.014   1.5   0.004
  213.8   219.4   5.6   18.5   2.2   0.69   0.010   1.3   0.005
  225.5   246.9   21.3   70.0   8.3   0.55   0.009   1.1   0.003
  254.5   257.6   3.1   10.0   1.2   1.16   0.010   2.6   0.001
NC10-31 214.9   254.7   39.8   130.5   39.8   0.83   0.059   1.6   0.014
  297.2   304.8   7.6   25.0   7.6   0.85   0.58   3.6   0.003
  367.3   451.1   83.8   275.0   83.8   0.98   0.037   2.0   0.003
  467.9   515.1   47.2   155.0   14.2   0.82   0.087   1.3   0.010

NC10-22, 26, and 28 were drilled in the South Deposit. NC10-22 and 28 confirmed the continuity of shallow copper mineralization located above the main magnetite mineralization in the deposit. NC10-26 was drilled along the northern edge of the deposit to better define the boundary of shallow mineralization in that area.

SOUTH DEPOSIT – Assays greater than 0.3% Cu
Drill Hole # From (m)   To (m)   Length (m)   Length (ft)   True Length (m)   Copper (%)   Gold (g/t)   Silver (g/t)   Fe (%)
NC10-22 246.9   256.0   9.1   30.0   8.4   0.33   0.006   1.6   7.0
  320.0   330.7   10.7   35.0   9.9   0.33   0.129   2.5   15.0
  424.6   437.7   13.1   43.0   12.1   0.34   0.073   1.2   37.9
NC10-26 92.7   105.2   12.5   41.0   7.1   0.41   0.062   2.0   32.1
  169.2   174.5   5.3   17.5   3.0   0.33   0.010   1.7   7.8
  228.6   231.7   3.1   10.0   1.8   0.63   0.025   2.2   17.7
NC10-28 116.1   178.3   62.2   204.0   56.4   0.79   0.134   6.1   8.5
  392.3   399.9   7.6   25.0   6.9   0.40   0.024   1.5   46.2

About Nevada Copper

Nevada Copper has 53.1 million shares outstanding with Cdn.$27 million in cash.

Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-gold-silver-iron property into Nevada's next copper mine. Concurrent with a resource delineation drilling program, metallurgical, geotechnical, hydrological, and environmental baseline data are being collected and processed for inclusion in a Pre-Feasibility Study currently in progress and scheduled for completion by the third quarter.

To date over 530 drill holes containing in excess of 223,000 meters of drilling have been incorporated into the resource database.

In December 2009, Nevada Copper updated its National Instrument 43-101 Preliminary Economic Assessment ("PEA") for its 100% owned Pumpkin Hollow IOGC Property in Nevada which incorporated a High Grade Case. This is an update to the PEA results published on March 17, 2008 both of which are available on Nevada Copper's website.

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.

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. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 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.

Contact Information

  • Nevada Copper Corp.
    Eugene Toffolo
    Corporate Communications
    604-683-8266 or Toll free: 1-877-687-5755
    Email: etoffolo@nevadacopper.com
    or
    Nevada Copper Corp.
    Giulio T. Bonifacio
    President & CEO
    604-699-0023