Nevada Copper Intersects 180 Feet of 1.59% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/11/11 -- 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 hole reported below represents the latest assay results from the geotechnical drilling program. Currently one drill rig is finishing the geotechnical program and will join the second rig which has already started the 20,000 meter resource step-out and expansion drilling program proposed for 2011.
Assay results have been received from drill hole NC10-GT-07 and, in addition to collecting geotechnical data within the development areas of the East Deposit, NC10-GT-07 was successful in confirming the continuity of high grade mineralization. Drill hole NC10-GT-07 intersected 180.0 feet (54.9 meters) averaging 1.59% copper and 0.261 grams gold and 3.6 grams silver.
'We are very pleased that NC10-GT-07, along with the earlier geotechnical holes, continues to confirm and expand mineralization in the East and South deposits. The remaining geotechnical drilling is currently being completed on the E2 and North deposits as part of the engineering data collection for the ongoing Feasibility Study. The drill program will then focus on the expansion of the resource,' 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 - Assays greater than 1.0% Cu
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From Length Length Copper Gold Silver
Drill Hole # (m) To(m) (m) (ft) (%) (g/t) (g/t) Fe(%)
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NC10-GT-07 518.1 522.7 4.6 30 1.24 0.157 5.1 19.0
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618.7 673.6 54.9 180 1.59 0.261 3.6 33.6
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Including 637.0 658.3 21.3 70.0 2.35 0.396 5.4 38.2
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-- All thicknesses are true width.
Other Business
Nevada Copper announces that Zhongtiaoshan Non-ferrous Metals Group Co., Ltd. ('ZTS') elected to convert its Convertible Debenture and exercise warrants resulting from the transaction entered into in June 2009. ZTS currently holds 2,112,800 common shares of Nevada Copper.
ZTS is a leading Chinese copper producer formed in 1956 and based in Shanxi Province. ZTS has developed into a large diversified copper group that conducts business in mining, refining and processing. ZTS is currently one of China's largest state-owned enterprises.
About Nevada Copper
Nevada Copper has 58.6 million shares outstanding and is well funded with $26 million in cash and no debt. Nevada Copper is scheduled to release results from a Definitive Feasibility Study release by June of 2011 in addition to ongoing drilling results from its resource step-out and expansion drilling program.
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