Nevada Copper Intersects 4.18% Copper Over 29.7 Meters (97.5 Ft)
March 3, 2010 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) is pleased to announce further drill results from the East Deposits which remains open in several directions. The current drilling continues to demonstrate continuity of mineralization and expand the copper resource at the 100% owned Pumpkin Hollow Property located in Nevada. The five drill holes presented below are the latest results from a 25,000 meter drill program. Currently five drills rigs including four core rigs are operating at the Pumpkin Hollow Property.
Drill holes NC10-01 and NC10-05 were drilled in the northern part of the East Deposit to delineate high grade copper mineralization encountered in the 2008 and recent 2009 drilling. Drill hole NC10-01 was collared 30 meters north of previously reported NC08-49 where two mineralized zones were intersected, 38.1 meters (125.0ft) averaging 3.24% copper along with 7.3 meters (24.0ft) averaging 1.69% copper. Drill hole NC10-01 also intersected two zones, 29.7 meters (97.5 ft) averaging 4.18% copper and a lower zone of 13.7 meters (45.0ft) averaging 2.82% copper. Drill hole NC10-05 has extended the high grade mineralization 60 meters to the west from previously announced NC09-05, which intersected 24.9 meters (114.5 ft) averaging 3.20% copper. Drill hole NC10-05 intersected 16.5 meters (54.0 ft) averaging 3.38% copper.
“Infill drilling in the East Deposit continues to intersect significant zones that confirm the continuity of high grade mineralization. Several follow up holes, including NC10-05, have also been successful in expanding the high grade zones. These results will have a positive impact on an already robust economic profile,” commented Giulio Bonifacio, President and CEO of Nevada Copper.
A plan map and cross sections for the deposit will be made available at www.nevadacopper.com. Drill results announced here represent true thicknesses and are summarized below:
|Drill Hole #||From (m)||To (m)||Length (m)||Length (ft)||Copper (%)||Gold (g/t)||Silver (g/t)||Iron (%)|
Drill hole NC09-12 was drilled as a step-out hole 60 meters west of drill hole NC09-02. Drill hole NC09-12 was a follow up to drill hole NC09-02 which intersected 31.1 meters (102 ft) averaging 2.45% copper. While the mineralization narrowed to 11.5 meters (38 ft) averaging 2.13% copper in drill hole NC09-12, the hole intersected several zones of high grade mineralization shallower in the hole, 6.7 meters (22.0 ft) averaging 1.08% copper and 12.5 meters (41.0ft), averaging 2.40% copper.
Both Drill holes NC09-11and NC10-02 were drilled to confirm and delineate mineralization in several thin or lower grade areas in the central portion of the East Deposit. Drill holes NC09-11 and NC10-02 confirmed the mineralization in those areas.
About Nevada Copper
Nevada Copper is an emerging copper company, responsibly developing its advanced stage Pumpkin Hollow copper-gold-silver-iron property into Nevada’s next copper mine. Concurrent with a resource delineation drilling program, metallurgical, geotechnical, hydrological, and environmental baseline data are being collected and processed for inclusion in a Pre-Feasibility Study currently in progress and scheduled for completion by the third quarter.
To date over 530 drill holes containing in excess of 223,000 meters of drilling have been incorporated into the resource database.
In December 2009, Nevada Copper updated its National Instrument 43-101 Preliminary Economic Assessment (“PEA”) for its 100% owned Pumpkin Hollow IOGC Property in Nevada which incorporated a High Grade Case. This is an update to the PEA results published on March 17, 2008 both of which are available on Nevada Copper’s website.
The Pumpkin Hollow drilling program 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.
For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
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 the Company 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. Mineral resources that are not mineral reserves do not have demonstrated economic viability. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedar.com
For further information call:
Eugene Toffolo, Corporate Communications
Giulio T. Bonifacio, President & CEO