Nevada Copper to Start Follow-Up Drilling of Discovery Hole NC12-34 Which Intersected 690 Feet Grading 1.17% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/05/12 -- Nevada Copper Corp. (TSX: NCU) ("Nevada Copper") is pleased to announce that drill contracts have been signed for follow-up drilling of the NC12-34 area from its 100% owned Pumpkin Hollow Property located near Yerington, Nevada. It is expected that drill mobilization will commence later this month. The initial phase of the drill program will total 5,000 meters.
The mineralization discovered in the NC12-34 area is located along the southern edge of the North Deposit where mineralization remains open in several directions. Drill hole NC12-34 targeted the expansion of the main mineralized zone, intersecting 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper.
Assays results for drill hole NC12-34 were received after the recently-released updated "Western Deposits" resource. The new measured and indicated copper resource increased by over 1.1 billion pounds to 5.4 billion pounds of copper as described in News Release dated September 7, 2012. Drill hole 12-34 mineralization is just outside the current National Instrument 43-101 Feasibility Study ultimate pit limits for the North and South pits.
A section and map showing the NC12-34 area are available at http://www.nevadacopper.com/i/pdf/2012-12-04_Maps.pdf.
Gregory French, Vice President, Senior Project Manager, commented, "The south edge of the North Deposit, where NC12-34 is located continues to produce great results. The newly discovered mineralization intersected in NC12-34 opens up a large area between the North and South pits that has not yet been drill tested. We believe the continued success of the follow-up drilling will significantly increase the resource and have very positive implications in future mine designs."
Shaft & Hoist Installation Progress
Shaft construction at the East deposit overseen by Atkinson Construction is proceeding on time and budget. Schmueser & Associates, the subcontractor for the hoist installation, is currently in the process of assembling and placing the hoist. The first sections of the head-frame are also in place. Photos of the contractor, TEKKO Inc., erecting the initial head-frame sections can be found on the project web page at: www.pumpkinhollowcopper.com/mine-community/category/shaft-progress.
Qualification Statement
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
We seek safe harbour.
Contacts:
Nevada Copper Corp.
Eugene Toffolo
VP, Investor Relations & Communications
604-683-8266 or Toll Free: 1-877-648-8266
etoffolo@nevadacopper.com
Nevada Copper Corp.
Robert McKnight, P.Eng., MBA
Executive Vice President & CFO
604-683-1309
bmcknight@nevadacopper.com
www.nevadacopper.com