Nevsun Resources report on new assay results from on-going drilling of the Lower Zone at the Timok copper-gold project in east Serbia.
-Drilling continues to confirm grade, continuity and thickness of the Lower Zone
-New porphyry copper intersections include:
– 0.80% Cu and 0.22g/t Au over 798.1m in TC170131A (1.11% Cu equivalent)
– 1.01% Cu and 0.18g/t Au over 336.1m in TC160118 (1.27% Cu equivalent)
– 1.02% Cu and 0.25g/t Au over 327.0m in TC160125D (1.38% Cu equivalent)
– 1.18% Cu and 0.29g/t Au over 238.7m in TC160125B (1.59% Cu equivalent)
Intersections estimated to be near true width
Cu equivalent calculated as 1g/t Au = 0.7% Cu
Drilling targeted completion in late 2017
Nevsun CEO, Peter Kukielski, commented, “The Lower Zone assays reported today are part of an on-going $20 milliondrilling program with our joint venture partner Freeport-McMoRan aimed at defining the large footprint of the Timok Lower Zone mineralization. There are currently 12 drills in operation on the program with a target date for completion in late 2017.”
The Lower Zone consists of porphyry-type mineralization characterized by chalcopyrite-pyrite and minor bornite and molybdenite occurring as disseminations and within quartz and quartz-magnetite stockwork veinlets. Anhydrite veins are common. Within the Lower Zone, porphyry-type potassic alteration is preserved locally but generally overprinted by sericite-clay, argillic and advanced argillic alteration. The latter overprinting also brings occasional covellite-pyrite mineralization. The host rocks are predominantly volcanic andesite, andesite breccia and andesitic porphyry. The geometry of the Lower Zone remains to be fully defined. Its top is about 700 metres below surface and has been traced down to depths in excess of 2,000 metres.