Serbia mining: Nevsun Resources drilling result confirms high-grade copper and gold at Timok Project, Mining
Targeting the Upper Zone at Timok, the company has released assays for drilling previously carried out by Reservoir as part of its 2015 mineral resource upgrade programme.
A number of notable hits were received including a 248m intercept grading 6.37% Cu and 3.19g/t Au from 448m depth. Within this was an 87m intersection averaging 11.95% Cu and 5.35g/t Au from 448m depth.
Intercepts like this would be exceptional at most projects around the globe, but they are commonplace at Timok, an asset that has an indicated resource of 1.7 million tonnes grading 13.5% Cu and 10.4g/t Au to its name.
Nevsun, which previously outbid Lundin Mining for the asset, is currently carrying out another 30,000m of drilling to further improve confidence in the resource base at Timok.
This will mean the Timok momentum continues to build as the company heads for a prefeasibility study in September.
Nevsun Resources Ltd. announced assay results from drilling of the Upper Zone at the company’s high-grade Timok copper-gold project located in the historic Bor mining district in eastern Serbia. These excellent results continue to confirm the continuity and the high-grade nature of the Upper Zone.
Vertical holes were designed to intersect the high-grade upper portion of the mineralization at near perpendicular orientation.
Nevsun CEO, Cliff Davis, commented, “The assays reported today continue to demonstrate the high grade nature of the Timok mineralization. These holes were drilled prior to the company acquiring its interest in the Timok Project and were recently assayed after the ownership changed. In addition to the 30,000 metres of ongoing drilling, the results from these holes will be included in the model used to generate a new resource for the pre-feasibility study due in September 2017.”
In September, Nevsun announced they were advancing towards a Pre-Feasibility Study with a major drilling program at Timok stating, “Since closing the acquisition of the Timok Project this past June, Nevsun has been rapidly ramping up the Upper Zone pre-feasibility study work. In addition, Nevsun, with its joint venture partner, Freeport-McMoRan, has commenced a 67,000 metre drilling program on the Lower Zone deposit to further define the deep porphyry potential.
An additional 30,000 metres of drilling are in progress to further improve confidence in the resource.
- December 9, 2022 Montenegro, EPCG shareholders will consider a loan from the EBRD for the construction of the Iron and Steel Plant
- December 9, 2022 Bulgaria, Half of crude oil processed in Lukoil’s Neftochim refinery in Burgas during 2021 was not Russian
- December 9, 2022 Bulgaria, The price of electricity for companies is limited to 102 euros per MWh