Nevada Copper Announces Further High Grade Drill Results of 78.5 Feet of 3.17% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/02/10 -- Nevada Copper Corp. (TSX: NCU) ('Nevada Copper') is pleased to announce further positive drill results at the 100% owned Pumpkin Hollow Property located in Nevada. The holes reported below represent the latest results from the geotechnical and North Deposit resource drilling programs. Once the geotechnical drilling is completed the drilling will transition into the recently announced 20,000 meter resource step-out and expansion drilling program.
Assay results from five geotechnical holes have been received; one from the South Deposit, one in the East Deposit, and three in the Decline area. NC10-GT-01 was drilled to collect geotechnical data within the East Deposit. The hole confirmed mineral continuity intersecting 78.5 feet (23.9 meters) averaging 3.17% copper and 0.228 grams of gold.
The geotechnical drilling east of the East Deposit focused on collecting data for engineering the proposed decline to the East and E2 zones. The majority of the drilling was non-mineralized rock above the host units, including NC10GT-02 and NC10GT-04. Hole NC10GT-01 was drilled deeper to collect additional data within development areas. The hole intersected low grade mineralization (less than 1% Cu) in the same host as the East Deposit. The hole was drilled 150 meters east of NC10-49 which intersected 35 feet (10.7 meters) averaging 3.0% copper. This area has been targeted for drilling in the 2011 drill program.
In addition to collecting geotechnical data in the open-pittable South Deposit, NC10GT-05 was successful in expanding several deeper mineralized zones to the southeast. The hole intersected multiple zones of mineralization with the largest averaging 0.76% copper over 299.1 feet (91.2 meters), 259.2 feet (79.0 meters) true thickness. This intercept is approximately 70 meters southeast of L-102 (216 feet averaging 0.53% Cu).
NC10-74 completed in the open-pittable North Deposit focused on expanding the recently discovered deep mineralization. While NC10-74 was successful in intersecting several of the lower zones the hole was terminated just above the lowest zones due to hole conditions. The best zone intersected 107.5 feet (32.8 meters), 106.0 feet (32.3 meters) true thickness, averaging 1.26% copper. The last interval in the hole just tagged the top of the lower zones with the last sample interval intersecting 0.86% copper. Continued expansion of the lower zones is planned in the 2011 drill program.
'The mineral resource and geotechnical drilling continue to produce positive results at the Pumpkin Hollow Project. It is apparent that the limits of mineralization continue to expand. The focus of our 2011 drill program will continue to follow up on this open mineralization as well as test additional targets,' commented Gregory French, Vice President, Senior Project Manager of Nevada Copper.
Plan maps with recent drill locations will be made available at www.nevadacopper.com.
EAST DEPOSIT and DECLINE AREA
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Drill Hole From To Length Length Copper Gold Silver Fe
# (m) (m) (m) (ft) (%) (g/t) (g/t) (%)
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NC10GT-01 458.1 461.4 3.3 10.9 1.33 0.267 2.9 23.9
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465.3 467.9 2.6 8.6 1.66 0.241 6.4 17.2
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520.3 544.2 23.9 78.5 3.17 0.228 7.2 7.5
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NC10GT-02 NA-Decline Zone
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NC10GT-03 570.3 577.3 7.0 23.0 0.74 0.048 1.2 2.5
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Decline Zone
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NC10GT-04 NA-Decline Zone
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(i) All thicknesses are true width.
SOUTH DEPOSIT
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True
From To Length Length Length Copper Gold Silver Fe
Drill Hole # (m) (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC10-GT-5 138.5 147.7 9.2 30.1 8.0 0.23 0.050 1.6 4.9
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(-80 degrees) 253.6 268.2 14.6 48.0 12.6 0.20 0.007 1.1 9.4
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296.3 302.4 6.1 20.0 5.3 0.31 0.021 1.5 9.5
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314.5 337.5 23.0 75.4 19.9 0.52 0.114 3.3 11.6
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349.7 440.9 91.2 299.1 79.0 0.76 0.146 3.4 16.3
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457.5 465.4 7.9 25.9 6.8 0.47 0.065 0.8 12.2
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NORTH DEPOSIT
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True
From To Length Length Length Copper Gold Silver Mo
Drill Hole # (m) (m) (m) (ft) (m) (%) (g/t) (g/t) (%)
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NC10-74 190.6 211.8 21.2 69.5 21.1 0.80 0.079 2.7 0.009
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221.0 256.3 35.3 116.0 34.8 0.54 0.055 1.5 0.008
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273.7 306.5 32.8 107.5 32.3 1.26 0.082 3.1 0.005
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391.7 406.3 14.6 48.0 12.0 0.96 0.091 4.3 0.018
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424.7 436.3 11.6 38.0 9.5 0.73 0.087 3.0 0.007
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Lost hole 478.5 480.0 1.5 5.0 1.2 0.86 0.074 3.3 0.012
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About Nevada Copper
Nevada Copper has 56.5 million shares outstanding and is well funded with approximately $27 million in cash to complete the current and proposed drilling programs as well as the Definitive Feasibility Study scheduled for release in June of 2011.
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: 1-877-648-8266
etoffolo@nevadacopper.com
www.nevadacopper.com