Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

June 01, 2015 06:00 ET

Nevada Copper Intersects 210 Feet of 1.39% Copper in the Connector Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 1, 2015) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or the "Company") is pleased to announce additional results of diamond drilling on the North and South open pit deposits and provide a project update at the Company's 100% owned Pumpkin Hollow project located near Yerington Nevada.

Open Pit Drilling Results

Drilling continues to test the open extent of mineralization in the North and South open pit deposits including areas that may have economic copper mineralization but are currently categorized as inferred, or waste, due to limited drill data. The drill program which started in late February currently consists of up to 74,000 feet (22,600 meters) of drilling. There are currently three drill rigs which have completed 13 holes for a total of 24,300 feet (7,400 meters).

The results for the first 3 holes were released April 23, 2015. This news release provides the results for the latest seven drill holes, bringing the total holes released to 10. The results for the remaining 3 holes are pending. All of the latest seven holes were drilled in the North deposit and the Connector zone between the North and South deposits. All holes have been successful in intersecting mineralization. Drill holes NC15-03, NC15-07 and NC 15-13 expanded mineralization in the Connector zone. Drill holes NC15-05 & 06 and NC15-09 expanded mineralization on the edges of the North deposit but still within the current pit limits. NC15-04, drilled in the center of the North deposit, was also successful in expanding mineralization below the main zone.

Drill holes NC15-03, NC 15-07 and NC15-13 are located in the Connector zone between the North and South open pit deposits. In all three holes mineralization correlated with adjacent holes. NC15-13 drilled on the bridge of the pits intersected shallow mineralization 63.9 meters (209.5 feet @ 1.39% Cu), true thickness. Just northwest of NC15-13, drill hole NC15-03 intersected over 42.8 meters (158.0 feet @ 0.79% Cu), true thickness. Additional drilling is planned to follow up this new high grade zone.

Drill holes NC15-05 & NC15-06 are located along the western edge and within the designed North pit limit. The mineralization has narrowed in NC15-05. Mineralization seems to be thickening to the southwest where NC15-06 intersected 58.0 meters (190.4 feet) true thickness averaging 0.40% copper. Follow up drilling of NC15-06 is currently planned.

Drill hole NC15-04, located in the center of the North deposit, intersected multiple zones of mineralization totalling over 1,000 feet in the center of the deposit. The upper zones correlate well with existing mineralization. The new lower zones helps fill in area where drill density is limited and the rock is classified as waste or inferred. Additional drilling is currently planned.

Drill hole NC15-09 is located along the eastern edge and within the designed North pit limit intersected 70.3 meters (230.7 feet @ 0.37% Cu), true thickness. The mineralization is continuous with adjacent holes and remains open and expected to convert inferred and waste material. Additional off set holes are planned.

Greg French, Vice President of Project Development & Exploration, commented, "We are very pleased that our drilling continues to be successful in intersecting and expanding the mineralization within the current pit and the Connector zone.

"In the Connector zone, we expect that the positive results we are achieving in this area will not only upgrade what is currently classified as waste, but also improve future pit designs. Three holes were drilled in the area and multiple zones of mineralization were encountered. The shallow mineralization in drill hole NC15-13 was higher grade than expected at 209.5 feet averaging 1.39% copper. We continue to keep one of the drill rigs focused on expanding this significant area.

"In the center of the North deposit, below the main zone, mineralization had been geologically projected but could not be included in the mineral reserve due to limited deeper drilling. Drill hole NC15-04 helped confirm the mineralization by intersecting multiple zones. Additional drilling in this area is being planned. Following up open mineralization on the eastern and western edges of the North deposit has also been successful. On the eastern edge, drill hole NC15-09 intersected 230.7 feet averaging 0.37% copper. This hole will be off set."

The tables below summarize the results received. Assays for the remaining drill holes will be posted as results are received.


Hole #

From

To

Length
True Length
Length

Cu

Gold

Silver
Cu Equiv.*
(m) (m) (m) (m) (ft) % (g/t) (g/t) %
NC15-03 395.6 409.7 14.1 14.1 46.1 0.15 0.002 0.7 0.15
436.8 444.4 7.6 7.6 25.0 0.20 0.047 0.9 0.23
494.7 542.9 48.2 48.2 158.0 0.79 0.201 3.8 0.90
555.7 569.4 13.7 13.7 45.0 0.19 0.028 0.8 0.21
NC15-04 53.3 64.0 10.7 10.7 35.0 0.51 0.016 0.8 0.52
71.6 77.7 6.1 6.1 20.0 0.24 0.012 0.7 0.25
114.3 144.8 30.5 30.5 100.0 0.23 0.016 0.7 0.24
158.5 223.6 65.1 65.1 213.5 0.58 0.125 0.9 0.64
232.8 297.8 65.0 65.0 213.0 0.22 0.020 0.7 0.23
329.8 386.6 56.9 56.9 186.5 0.20 0.014 0.5 0.21
394.7 465.4 70.7 70.7 232.0 0.20 0.026 1.1 0.22
496.5 509.9 13.4 13.4 44.0 0.03 0.044 1.2 0.06
NC15-05 361.2 373.4 12.2 11.5 40.0 0.85 0.046 1.8 0.88
NC15-06 326.7 338.3 11.6 11.6 38.3 0.51 0.030 3.7 0.54
415.1 473.1 58.0 58.0 190.4 0.40 0.020 1.2 0.42
NC15-07 158.8 168.3 9.5 7.2 31.0 0.18 0.014 0.5 0.19
194.2 199.2 5.0 3.8 16.5 0.21 0.018 0.7 0.22
223.1 227.7 4.6 3.5 15.0 0.20 0.029 1.2 0.22
251.2 266.1 14.9 11.4 49.0 0.19 0.024 0.8 0.21
396.9 441.4 44.4 34.0 145.6 0.44 0.026 1.3 0.46
467.2 491.3 24.1 18.5 79.0 0.20 0.035 0.9 0.22
532.5 539.7 7.2 5.5 23.5 0.18 0.026 0.6 0.19
550.2 560.2 10.0 7.7 33.0 0.29 0.092 0.9 0.34
630.8 637.0 6.2 4.7 20.5 0.21 0.101 0.8 0.25
NC15-09 252.8 323.1 70.3 70.3 230.7 0.37 0.032 1.1 0.39
NC15-13 173.9 237.7 63.8 63.8 209.5 1.39 0.426 3.6 1.60
* Cu Equiv. used Cu $3.00, Au $1,200 and Ag $18; recoveries 89.3%, 67.3% and 57.3% respectively.

A map showing drill holes location is shown at the link below:

http://media3.marketwire.com/docs/Map_NCU.pdf

Underground Drill Program

The first underground drill station at the 1,900 foot production level is complete and drilling has commenced. The program will consist of up to 26,000 feet (7,900 meters) of delineation and development drilling which will focus on further enhancing the high grade zones within the current mineral reserve, especially in areas planned for mining in the early years.

Management believes the program has the potential to improve the copper production grades in the early years and continue to expand mineralization which remains open in several directions. This drilling will also provide additional geotechnical data for updated mine designs.

Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

We seek safe harbour.

Contact Information

  • Nevada Copper Corp.
    Eugene Toffolo
    VP, Investor Relations & Communications
    604-683-8266 or Toll free: 1-877-648-8266
    etoffolo@nevadacopper.com

    Nevada Copper Corp.
    Robert McKnight, P.Eng., MBA
    Executive Vice President & CFO
    604-683-1309
    bmcknight@nevadacopper.com