Mineralization Remains Open at Nevada Copper's North Deposit: Intersecting 90.5 Feet of 1.37% Copper and 135.0 Feet of 0.88% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/16/10 -- Nevada Copper Corp. (TSX: NCU) ('Nevada Copper') announces 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 45,000 meters (148,000 ft) of resource drilling. To date, results from 50 of an estimated 83 drill holes to be drilled have been reported. Currently, three drill rigs continue to operate at the Pumpkin Hollow Property as part of the expanded drilling program.
NC10-38 was drilled to confirm deeper north-dipping mineralization (northern limb) in the open pittable North Deposit. While recent results from NC10-31 demonstrated the continuity of the deeper mineralization it also confirmed that the mineralization continues to be open down dip. NC10-38 intersected over 420 feet of mineralization, including 27.6 meters (90.5 ft), 13.8 meters true thickness averaging 1.37% copper and 41.1 meters (135.0 ft), 20.6 meters true thickness averaging 0.88% copper.
NC10-39, drilled as a step out, followed up shallow mineralization open along the northeastern edge of the North Deposit. With the mineralization intersected in NC10-39 and previous holes NC07-03 and NC10-29, additional holes are planned. Expanding the open mineralization in this area of the Deposit should have a positive impact on future pit designs.
Mr. Gregory French, Senior Project Manager of Nevada Copper commented, 'The current drilling continues to show that the limits of mineralization in the North Deposit have not been defined. Results from NC10-38 show that mineralization is open down dip along the northern limb, open to the northeast as shown by the recent results from NC10-29 and 39, and open to the southwest were NC10-31 intersected two new deeper zones 83.8 meters (275.0 ft) averaging 0.98% copper and 47.2 meters (155.0 ft) averaging 0.82% copper. Follow up drilling is currently in progress.'
The four holes reported for the South Deposit drilling were focused on upgrading resource classifications and confirming continuity of mineralization. The holes intersected multiple zones of mineralization with NC10-34 intersecting the two largest, 47.9 meters (157.0 ft), 36.7 meters true thickness averaging 0.52% copper and 56.4 meters (185.0 ft), 43.2 meters true thickness averaging 0.73% copper.
Plan maps with the recent drill locations for the North and South Deposits will be made available at www.nevadacopper.com.
NORTH DEPOSIT - Assays greater than 0.3% Cu
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True
Drill Hole From Length Length Length Copper Gold Silver Mo
# (m) To (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC10-30 297.2 313.0 15.8 52.0 7.9 0.36 0.032 1.9 0.003
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369.4 433.7 64.3 211.0 32.2 0.48 0.020 0.5 0.002
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NC10-32 137.2 153.9 16.7 55.0 8.4 0.47 0.005 1.1 0.027
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185.6 222.5 36.9 121.0 18.5 0.40 0.025 1.1 0.006
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295.7 301.8 6.1 20.0 3.1 0.57 0.012 1.6 0.022
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352.0 362.7 10.7 35.0 5.4 0.51 0.061 2.2 0.008
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376.4 385.5 9.1 30.0 4.6 0.53 0.042 1.9 0.006
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NC10-38 257.5 265.3 7.8 25.5 3.9 1.03 0.020 3.7 0.002
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285.1 306.0 20.9 68.5 10.5 0.52 0.021 2.6 0.002
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324.6 329.2 4.6 15.0 2.3 0.88 0.075 3.8 0.008
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386.2 413.8 27.6 90.5 13.8 1.37 0.138 4.9 0.010
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449.0 190.1 41.1 135.0 20.6 0.88 0.072 2.7 0.007
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502.3 522.1 19.8 65.0 9.9 0.45 0.099 2.7 0.005
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544.1 551.7 7.6 25.0 3.8 0.92 0.048 3.6 0.004
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NC10-39 115.8 131.0 15.2 50.0 10.7 0.65 0.078 2.9 0.008
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153.9 173.7 19.8 65.0 14.0 0.52 0.044 3.5 0.005
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198.1 214.9 16.8 55.0 11.9 0.44 0.059 2.5 0.011
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224.0 230.1 6.1 20.0 4.3 0.43 0.052 2.1 0.003
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SOUTH DEPOSIT - Assays greater than 0.3% Cu
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True
Drill Hole From Length Length Length Copper Gold Silver Fe
# (m) To (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC10-33 105.4 115.7 10.3 33.7 7.9 1.60 0.225 1.2 19.7
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NC10-34 146.3 152.4 6.1 20.0 4.7 0.34 0.065 0.7 15.8
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160.9 208.8 47.9 157.0 36.7 0.52 0.183 3.5 14.5
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268.2 321.6 56.4 185.0 43.2 0.73 0.163 3.3 31.7
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376.4 402.3 25.9 85.0 19.8 0.31 0.034 1.4 34.1
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425.2 431.3 6.1 20.0 4.7 1.08 0.086 2.6 41.2
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440.4 470.9 30.5 100.0 23.4 0.43 0.037 1.0 40.0
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NC10-35 181.9 218.5 36.6 120.0 28.0 0.46 0.109 1.0 25.2
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232.6 241.7 9.1 30.0 7.0 0.34 0.049 0.8 30.8
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260.0 266.9 6.9 22.5 5.3 0.43 0.075 0.9 32.4
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338.3 345.9 7.6 25.0 5.8 0.41 0.068 1.8 9.3
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NC10-36 141.6 152.4 10.8 35.5 8.3 0.85 0.163 1.6 46.4
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193.5 204.2 10.7 35.0 8.2 0.48 0.080 2.6 45.1
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216.4 232.6 16.2 53.0 12.4 1.70 0.277 10.9 42.0
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269.7 285.9 16.2 53.0 12.4 0.84 0.161 6.6 25.5
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321.6 341.4 19.8 65.0 15.2 0.34 0.140 2.7 33.3
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387.1 393.0 5.9 19.5 4.5 0.69 0.115 1.6 29.5
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About Nevada Copper
Nevada Copper has 53.1 million shares outstanding with Cdn. $27 million in cash and is well funded to completion of Definitive Feasibility Study scheduled for release in early 2011.
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.
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
Contacts:
Nevada Copper Corp.
Eugene Toffolo
Corporate Communications
604-683-8266 or Toll free: 1-877-687-5755
etoffolo@nevadacopper.com
Nevada Copper Corp.
Giulio T. Bonifacio
President & CEO
604-699-0023
www.nevadacopper.com