Nevada Copper Announces Expansion of Drilling Program and Selection of Tetra Tech for Definitive Feasibilty
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/25/10 -- Nevada Copper Corp. (TSX: NCU) ('Nevada Copper') is pleased to announce that it will move forward with a 20,000 meter drill program commencing in December which will focus on the expansion of existing resources as well as testing several targets on its 22 square mile Pumpkin Hollow property. Please see map at http://www.nevadacopper.com/i/pdf/Targets_2011.pdf. Currently two drill rigs are on the property completing the geotechnical drilling and following up on the newly discovered mineralization in the North Deposit.
Mr. Henry Ohlin, Senior Geologist, commented: 'Now that we have successfully delineated the resources necessary for the Definitive Feasibility Study in our recently-completed 50,000 meter drilling program, we can now shift our exploration focus toward testing several additional targets on the property. The North Deposit continues to grow with the newly discovered mineralization and is a good example of the robust nature of the mineralizing system at the Pumpkin Hollow property.'
Nevada Copper also announces that Tetra Tech Inc. ('Tetra Tech') has been selected to lead completion of the Definitive Feasibility Study ('DFS') on the Pumpkin Hollow project and has started on this work. The decision to proceed directly to a DFS was previously announced on November 1, 2010. The DFS will incorporate all scoping work and engineering completed to date and advance the remaining work to DFS standards. The DFS is scheduled for completion by June 30, 2011. Other consultants may also be included in specialist roles and for DFS oversight.
Tetra Tech is very familiar with the Pumpkin Hollow project, having completed two Preliminary Economic Assessments ('PEA') in 2008 and early 2010. The PEA's examined a variety of development alternatives while demonstrating very robust economics.
Tetra Tech was founded in 1966, initially providing engineering services related initially to waterways, harbours and coastal areas. Over the ensuing years, it has increased the size and scope of its business to include mining-related feasibility studies, and design and construction services. Tetra Tech has approximately 12,000 employees located in more than 330 offices worldwide. Tetra Tech's Denver office will be the lead office for the DFS.
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: 1-877-648-8266
etoffolo@nevadacopper.com
Nevada Copper Corp.
Giulio T. Bonifacio
President & CEO
604-699-0023
www.nevadacopper.com