Nevada Copper Step Out Drilling Expands the Open Pittable North Deposit: Intersecting 190 Feet of 0.76% Copper and 132.5 Feet of 0.75% Copper
May 6, 2010 - Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) is pleased to announce further drill results at the 100% owned Pumpkin Hollow Property located in Nevada. The drill results continue to demonstrate continuity of mineralization and upgrading of the copper resource. Drill results reported here represent results from Nevada Copper’s current drill program which has recently been increased to 36,000 meters of resource drilling. To date, results from 37 of 63 holes that will be drilled in the program have been reported with further drill results pending. Currently, three drill rigs are operating at the Pumpkin Hollow Property as part of this expanded drilling program.
NC10-29 was drilled as a step out hole to follow up open mineralization in the northeastern portion of the open pittable North Deposit. NC10-29 was collared 43 meters (140 ft) northeast of NC07-03 where several mineralized zones were intersected, 46.9 meters (154 ft) averaging 0.50% copper, 29.5 meters (97 ft) averaging 0.65% copper and 27.7 meters (91ft) averaging 0.42% copper. Drill hole NC10-29 also intersected several mineralized zones and copper grades were significantly higher. The zones are 57.9 meters (190 ft) averaging 0.76% copper and 40.4 meters (132.5 ft) averaging 0.75% copper. The mineralization remains open to the northeast.
Mr. Gregory French, Senior Project Manager of Nevada Copper commented, “It is very encouraging that the recent step out drilling in the North Deposit intersected mineralization that is higher grade and thicker than the adjacent holes. Expanding the open mineralization in this area of the deposit will have a positive impact on future pit designs. Follow up drilling is planned.”
NC10-20, 21, and 23 were drilled to convert resource classifications and confirm continuity of mineralization. NC10-25 was drilled along the southern edge of the North Deposit and has defined the boundary of mineralization in that area.
A plan map with the respective drill locations in the North Deposit is available at www.nevadacopper.com.
|Drill Hole #||From (m)||To (m)||Length (m)||Length (ft)||True Length|
|Copper (%)||Gold (g/t)||Silver (g/t)||Mo (%)|
Nevada Copper is very pleased to announce that Jeffrey Duvall has joined the company in the capacity of Project Engineer assuming direct responsibility for the Pre-Feasibility Study. Jeffrey Duvall has a wide breadth of mining experience having worked with Snowden Mining Industry Consultants, Inc. (“Snowden”) and Pincock Allen & Holt for several years in addition to senior engineering roles with Centerra Gold Inc, Cleveland Cliffs, Inc. and Homestake Mining Company over the last 18 years. Jeffrey Duvall is a graduate of the Colorado School of Mines in Mining Engineering and also holds a M.Sc. and MBA.
The Pre-Feasibility Study is under the direction of Snowden which has extensive experience in project management, geology, open pit and underground mine optimization, metallurgy and financial analysis. They have assembled a team of leading mining industry consultants with extensive industry experience to assist Nevada Copper with developing the Pre-Feasibility Study. They include Scare-Davey with specialties in processing and infrastructure and Knight Piesold specializing in environmental, tailings, permitting, geotechnical, and socio-economics.
Mr. Giulio Bonifacio, President and CEO of Nevada Copper commented, “We are extremely pleased with the contributions of our technical team and consultants toward the rapid development of the Pumpkin Hollow Project. The addition of Jeffrey Duvall will further strengthen our team as we progress through both Pre-Feasibility and Definitive Feasibility.”
Nevada Copper also announces that Joe Kircher, COO, Vice President is no longer with the company.
About Nevada Copper
Nevada Copper will have 53.1 million shares outstanding and is well funded with Cdn$28 million in cash.
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, and 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 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. Mineral resources that are not mineral reserves do not have demonstrated economic viability. 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
For further information call:
Eugene Toffolo, Corporate Communications
Toll free: 1-877-687-5755
Giulio T. Bonifacio, President & CEO