Nevsun Resources Ltd.
TSX : NSU
NYSE Amex : NSU

Nevsun Resources Ltd.

August 31, 2011 08:00 ET

Nevsun Drills 30m of 8.55% Copper Adjacent to Bisha Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2011) - Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to report the assays from the forty-three diamond drill holes at the hanging wall copper zone within its Bisha mining license in Eritrea. The hanging wall copper zone is immediately west of the Bisha Main deposit and partially within the current open pit limit but it is not included in the current resource or reserve estimate for Bisha.

Highlights

  • Discovery of additional supergene mineralization
  • Confirmation of near surface copper mineralization that is likely additional feed for the Bisha mill

Select Results Include:

  • Hole B-395 – 30.0m at 8.55% Cu, from 34.5 meters to 64.5 meters
  • Hole B-413 – 82.5m at 0.81% Cu, from 39.0 meters to 121.5 meters
  • Hole B-398 – 45.5m at 0.95% Cu, from 52.5 meters to 98.0 meters
  • Hole B-411 – 39.25m at 1.00% Cu, from 66.25 meters to 101.5 meters
  • Hole B-410 – 28.5m at 1.06% Cu, from 40.5 meters to 69.0 meters

A two phase drill program was designed to define the extent and continuity of the previously identified copper mineralization located within the hanging wall of the Bisha deposit. Phase 1 of the program was completed in March 2011. The results were positive, and have provided valuable information on the extent and nature of the mineralization. Phase 2, focused on infilling the mineralization in order to calculate resources, will start in mid-September. Nevsun views the hanging wall mineralization as a potential source of supplemental feed for the processing plant at Bisha.

Detailed Phase 1 assay results are in the attached schedule together with a map of the hole locations. Assays from holes B-463, B-464, B-465 and B-466 reported on the map are still pending as drilling was delayed due to mine operations in the area.

Drill hole B-395 intersected a 30m lens of supergene copper mineralization grading 8.55% Cu that was not previously identified. The lens appears to be an extension of the northwest lens of Bisha that was faulted off and not previously identified. Hole B-395 was lost within the mineralized zone so B-396 was drilled 3m to the south to test the full depth extent of the lens, yielding 22m of 4.47% Cu. Holes B-463 and B-464 were then drilled 50m to the west. B-463 drilled over top of the lens but B-464 intersected 30m of supergene enriched massive sulphide. Assays for this hole are still pending.

The Company also completed a 16,000 meter diamond drill program on the Bisha Main deposit. The objective was to infill drill the inferred resources in the Bisha Main resource with the goal of upgrading the resources to the indicated category. Results of this drill program are expected over Q3 and Q4 2011 with a second reserve re-statement targeted for Q4 2011.

Hole # From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
Azimuth Dip
B-383 64.50 67.50 3.00 0.01 6.00 0.79 0.21 90 -45
B-384 60.00 67.50 7.50 0.01 1.00 0.80 0.07 90 -45
B-387 3.70 9.00 5.30 0.01 1.00 1.13 0.50 90 -45
and 55.50 63.00 7.50 0.01 1.00 0.70 0.07
B-388 54.00 64.50 10.50 0.01 1.00 0.88 0.05 90 -45
B-392 51.00 54.00 3.00 0.06 1.00 1.07 0.02 90 -45
and 61.00 66.00 5.00 0.01 1.00 1.84 0.03
B-394 37.50 57.00 19.50 0.01 1.23 0.70 0.02 270 -45
and 63.00 66.00 3.00 0.02 1.50 0.81 0.02
B-395 34.50 64.50 30.00 1.48 62.65 8.55 0.04 270 -45
incl. 46.50 55.50 9.00 0.94 72.83 22.39 0.09
B-396 46.50 69.00 22.50 0.54 19.84 4.47 0.03 270 -45
incl. 57.00 66.00 9.00 0.65 28.78 7.92 0.06
and 74.50 81.00 6.50 0.04 1.23 0.99 0.02
B-397 58.50 66.00 7.50 0.01 1.00 0.70 0.02 270 -45
incl. 58.50 61.50 3.00 0.01 1.00 1.28 0.02
B-398 31.50 33.00 1.50 0.04 1.00 1.33 0.06 270 -90
and 52.50 98.00 45.50 0.01 1.20 0.95 0.04
incl. 58.50 67.50 9.00 0.01 1.00 1.91 0.05
B-399 67.50 73.50 6.00 0.01 1.00 0.92 0.04 90 -45
B-400 63.00 72.00 9.00 0.01 1.00 1.32 0.03 80 -45
B-401 62.50 72.00 9.50 0.01 1.00 0.91 0.06 90 -45
B-402 58.50 68.60 10.10 0.01 1.15 0.83 0.03 90 -45
incl. 66.00 68.60 2.60 0.01 1.00 1.88 0.05
B-403 61.50 69.00 7.50 0.00 1.17 0.72 0.00 90 -45
B-404 57.00 58.50 1.50 0.01 1.00 0.73 0.01 90 -45
B-405 6.00 9.00 3.00 0.01 1.00 0.95 0.40 90 -45
B-406 63.00 73.50 10.50 0.02 1.00 2.04 0.09 90 -45
incl. 70.50 72.00 1.50 0.01 1.00 4.33 0.08
B-407 3.00 6.00 3.00 0.01 1.00 2.81 0.54 90 -45
and 70.70 81.00 10.30 0.01 1.00 0.85 0.01
B-409 4.30 10.50 6.20 0.01 1.00 1.30 0.65 90 -45
B-410 40.50 69.00 28.50 0.01 1.33 1.06 0.03 90 -45
B-411 66.25 105.50 39.25 0.01 1.09 1.00 0.02 90 -45
incl. 76.50 83.00 6.50 0.01 1.31 1.99 0.01
B-413 3.00 6.00 3.00 0.01 4.00 0.70 0.04 90 -45
and 39.00 121.50 82.50 0.01 1.11 0.81 0.01
incl. 91.50 105.00 13.50 0.01 1.00 1.61 0.00
B-414 6.00 7.50 1.50 0.01 1.00 1.19 0.14 270 -45
B-415 33.00 36.00 3.00 0.01 1.00 0.92 0.01 270 -90
B-416 43.50 90.00 46.50 0.01 1.00 0.52 0.02 90 -45
B-418 63.00 67.50 4.50 0.01 1.00 0.87 0.03 90 -45
B-420 72.50 86.00 13.50 0.01 1.00 1.32 0.01 90 -45
incl. 74.00 78.50 4.50 0.01 1.00 1.96 0.02
B-421 60.00 63.00 3.00 0.01 1.00 1.21 0.04 90 -45
Note: True thickness is estimated at approximately 90% of the drill intervals reported in the table.

Holes B-379, B-380, B-381, B-382, B-385, B-386, B-389, B-390, B-391, B-393, B-408, B-412, B-417 and B-419 showed no significant mineralization.

Assay results from drill holes and trenches that previously intercepted hanging wall copper mineralization were published in June 2005 and April 2006.

Darin Wasylik, Senior Geologist for Nevsun, a qualified person under National Instrument 43-101, supervised and directed all work associated with the drilling program.

Sample preparation and analysis were conducted at ALS Chemex of Vancouver, Canada.

Forward Looking Statements: The above contains statements regarding positive drill results, indications that the hanging wall copper zone is an extension of the Bisha Main zone, and is a potential source of supplemental feed to the Bisha plant. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those described in the Management Discussion and Analysis of the Company. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

NEVSUN RESOURCES LTD.

Cliff T. Davis, President & Chief Executive Officer

Contact Information