Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

July 15, 2015 07:00 ET

Nevada Copper Intersects 448 Feet Grading 1.0% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 15, 2015) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper" or the "Company") is pleased to announce drill results at the Company's 100%-owned Pumpkin Hollow project located near Yerington Nevada.

The primary objective of the drilling was to obtain additional samples for iron metallurgical testwork. The assay results however also contained several notable high grade copper intersections in the South open pit, including 230 feet (188 feet true thickness) grading 1.49% copper within a broader zone of 448 feet (367 feet true thickness) grading 1.0% copper. The copper- and iron-dominated intersections are shown in separate tables below.

Drilling in the South open pit area for the iron metallurgical test bulk sample has been completed. In April 2015, the Company announced a Memorandum of Understanding ("MOU") with a large multi-national steel producer to assess opportunities to exploit Pumpkin Hollow's iron resource. The assessments would include drill sampling consisting of six holes for a total of 8,500 feet (2,600 meters). Drill results have now been received with results reported for both iron and copper dominated zones.

Additionally mine planning, engineering studies and metallurgical work will be completed. These studies will determine if a byproduct magnetite (iron oxide) stream from the copper tailings at a future Pumpkin Hollow concentrator would be suitable as feed for downstream iron ore processing for use in steelmaking.

Six holes, holes S-01 and S-03 through S-07, were drilled in the South deposit. The holes targeted both high and low grade iron areas within the pit limits of the deposit. In addition to the iron mineralization, the holes intersected the copper zones including areas of higher grade copper mineralization.

Several of the drill holes intersected multiple zones of iron mineralization. The largest zones of iron mineralization are found in S-03 and S-04, located in the center of the South deposit. The large zone in S-03 intersected, 117.0 meters (580.8 feet) 106.0 meters true thickness, averaging 40.0% iron. S-04 intersected, 224.9 meters (738.0 feet) 172.3 meters true thickness, averaging 48.4% iron.

All of the drill holes intersected multiple zones of copper mineralization. Located within the center of the deposit, holes S-01 and S03 both intersected mineralized zones that total over 800 feet in thickness. The largest zone in S-01 intersected 74.7 meters (245.0 feet) 61.2 meters true thickness at a grade of 0.62% copper.

Drill hole S-07 was drilled in the southeastern part of the deposit, in an area of higher copper grades and moderate iron. The hole intersected several zones of mineralization with the largest intersecting 136.6 meters (448.0 feet) 111.9 meters true thickness averaging 1.0% copper.

Greg French, Vice President of Project Development & Exploration, commented, "In addition to obtaining the material necessary to complete the iron metallurgical test work, the drilling has increased the continuity of both copper and iron mineralization. Drill hole S-03, within the core of the main iron mineralization, intersected 738 feet grading 48.4% iron."

"The copper results are also extremely positive, as the high grade copper core of the South deposit has been expanded. Within the broader zone of 1.0% copper in drill hole S-07 there is a high grade intercept of 230 feet averaging 1.49% copper. The results from recently completed open pit drilling which has expanded the South deposit and the metallurgical drilling are expected to have a positive effect on the resource and future mine designs."

The tables below summarize the results received and have been grouped in copper-and iron-dominated zones.

Copper-Dominated Intervals


Hole #

From

To

Length
True Length
Length

Cu

Gold

Silver

Fe
(m) (m) (m) (m) (feet) % (g/t) (g/t) %
S-01 155.4 230.1 74.7 61.2 245.0 0.62 0.131 3.9 8.4
245.4 318.2 72.8 59.6 239.0 0.25 0.041 1.8 22.9
348.4 374.8 26.4 21.6 86.7 0.66 0.117 3.5 18.9
383.1 455.0 71.9 58.9 236.0 0.23 0.027 0.7 35.4
S-03 89.9 160.0 70.1 63.5 230.0 0.25 0.055 1.9 13.1
184.4 202.7 18.3 16.6 60.0 0.19 0.037 1.4 17.8
217.2 281.6 64.4 58.4 211.4 0.33 0.060 1.7 15.2
311.8 355.4 43.6 39.5 143.0 0.32 0.021 0.9 40.0
368.6 414.2 45.6 41.3 149.8 0.19 0.021 0.8 43.0
426.7 432.8 6.1 5.5 20.0 0.20 0.012 0.5 51.5
S-04 106.7 153.9 47.2 36.2 155.0 0.37 0.047 1.9 35.3
192.0 221.0 29.0 22.2 95.0 0.17 0.019 0.7 47.8
237.7 279.6 41.9 32.1 137.5 0.22 0.015 0.7 45.2
285.8 301.1 15.3 11.7 50.3 0.16 0.012 0.6 49.2
S-05 160.0 170.7 10.7 8.2 35.0 0.23 0.029 0.6 10.2
222.5 231.6 9.1 7.0 30.0 0.22 0.054 0.7 17.5
243.8 380.4 136.6 104.6 448.0 0.29 0.045 1.0 20.9
408.0 462.7 54.7 41.9 179.5 0.23 0.046 1.3 27.4
489.4 507.8 18.4 14.1 60.5 0.30 0.047 1.9 46.7
S-06 164.6 172.2 7.6 6.6 25.0 0.17 0.038 1.0 22.5
216.4 307.9 91.4 79.2 300.0 0.18 0.006 0.6 33.6
S-07 167.6 304.2 136.6 111.9 448.0 1.00 0.162 5.4 26.3
including 182.9 253.0 70.1 57.4 230.0 1.49 0.190 7.7 20.5
322.5 389.5 67.0 54.9 219.9 0.30 0.049 1.1 20.5

Iron-Dominated Intervals


Hole #

From

To

Length
True Length
Length

Cu

Gold

Silver

Fe
(m) (m) (m) (m) (feet) % (g/t) (g/t) %
S-01 213.4 254.5 41.1 33.7 135.0 0.20 0.025 1.3 23.7
278.9 318.2 39.3 32.2 129.0 0.29 0.051 2.3 28.1
387.4 455.1 67.7 55.4 222.0 0.22 0.018 0.6 36.9
S-03 89.9 97.5 7.6 6.9 25.0 0.37 0.052 0.5 28.0
258.3 292.0 33.7 30.5 110.5 0.24 0.032 0.8 24.4
298.0 475.0 117.0 106.0 580.8 0.18 0.014 0.6 40.0
S-04 117.4 342.3 224.9 172.3 738.0 0.18 0.018 0.2 48.4
S-05 184.4 204.2 19.8 15.2 65.0 0.11 0.033 0.4 25.4
253.0 282.7 29.7 22.8 97.5 0.57 0.097 1.2 26.2
292.9 329.8 36.9 28.3 120.9 0.29 0.043 1.3 22.7
S-04 344.4 378.8 34.4 26.4 113.0 0.17 0.021 0.9 21.6
408.0 443.8 35.8 27.4 117.5 0.22 0.039 1.4 34.3
S-06 199.6 302.9 103.3 89.5 339.0 0.16 0.006 0.6 35.6
S-07 213.4 306.2 92.8 76.0 304.5 0.10 0.180 5.9 34.8
347.6 387.1 39.5 32.4 129.7 0.28 0.056 1.3 29.5

A plan map showing the metallurgical drill holes in the South Deposit is shown at the link below:

http://media3.marketwire.com/docs/154Map_NCU.pdf

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, 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