Nevada Copper Corp.
TSX : NCU

Nevada Copper Corp.

February 25, 2009 08:01 ET

Nevada Copper-Reports High-Grade Drill Results in the South Deposit: 48.5 Meters (159.0 ft) @ 1.40% Copper

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2009) - Nevada Copper Corp. (TSX:NCU) ("Nevada Copper") is very pleased with the recent drill results from the open pit South and Southeast Deposits at its 100% owned Pumpkin Hollow Copper Development Property located in Nevada. The drilling continues to confirm and improve the resource status of the South and Southeast Deposits. The ten holes presented below represent the remaining results from the 2008 drill program for the South and Southeast Deposits.

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
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True
Drill From To Length Length Length Copper Gold Silver Fe
Hole # (m) (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC08-45 No Significant Cu over 0.3%
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NC08-50 153.0 157.3 4.3 14.0 2.8 0.62 0.089 0.5 17.4
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NC08-52 59.4 68.6 9.2 30.0 5.9 0.83 0.072 0.3 39.7
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95.4 143.9 48.5 159.0 31.2 1.40 0.170 0.8 41.8
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NC08-53 26.7 60.4 33.7 110.4 21.6 0.52 0.058 0.4 8.5
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77.1 95.1 18.0 59.0 11.6 0.48 0.065 0.3 28.1
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NC08-57 122.8 132.3 9.5 31.0 6.1 0.66 0.093 3.3 36.9
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152.4 160.9 8.5 28.0 5.4 0.31 0.120 3.1 24.8
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215.9 224.6 8.7 28.5 5.6 0.51 0.040 1.8 25.5
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239.9 267.3 27.4 90.0 17.6 0.43 0.073 4.3 27.8
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NC08-58 129.5 198.1 68.6 225.0 44.1 0.50 0.110 2.8 45.9
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NC08-59 137.1 155.4 18.3 60.0 11.8 1.07 0.037 0.4 19.4
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NC08-62 77.7 82.3 4.6 15.0 3.0 0.39 0.088 1.4 12.4
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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
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True
Drill From To Length Length Length Copper Gold Silver Fe
Hole # (m) (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC08-44 89.9 117.3 27.4 90.0 19.4 0.57 0.120 0.9 37.0
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196.9 266.7 69.8 229.0 49.4 0.56 0.087 0.6 35.9
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NC08-51 149.3 161.5 12.2 40.0 7.9 0.35 0.087 1.0 13.8
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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 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.

Contact Information

  • Nevada Copper Corp.
    Eugene Toffolo
    Corporate Communications
    (604) 683-8266 or Toll Free: 1-877-648-8266
    or
    Nevada Copper Corp.
    Giulio T. Bonifacio
    President & CEO
    (604) 699-0023
    Email: info@nevadacopper.com
    Website: www.nevadacopper.com