Nevsun starts exploration decline construction at Serbia copper project
TSX-listed Nevsun Resources has started construction of the exploration decline at its Timok Upper Zone copper project in Bor, Serbia.
Nevsun CEO Peter Kukielski said starting construction of the exploration decline on one of the world’s best underdeveloped copper projects is a significant milestone for the company.
“We look forward to unlocking significantly more value for our shareholders and stakeholders as we advance toward construction of the Timok Upper Zone, a much-anticipated initial resource for the Lower Zone, and ongoing regional exploration on our highly prospective land package.”
Contracts for the portal preparation and decline development have been awarded. The contractor for portal preparation has mobilised to site and the estimated eight-week work programme has begun.
Once preparation is complete, the decline contractor will build the portal and begin decline development.
The project is expected to be completed in about 24 months, including development of diamond drilling platform bays at depth and a lateral drift into the high-grade portion of the orebody for bulk sampling.
Meanwhile, the feasibility study on the Upper Zone remains on schedule for completion in mid-2019, and regional drilling, focused on the high-grade Upper Zone style mineralisation, has restarted with three rigs mobilised in May.
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