Nevada Copper Expands Mineralization Intersecting 690 Feet at 1.17% Copper Along the Edge of the North Deposit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/13/12 -- Nevada Copper Corp. (TSX: NCU) ("Nevada Copper") is pleased to announce the latest step-out and expansion drill results from its 100% owned Pumpkin Hollow Property located near Yerington, Nevada. Ninety four (94) drill holes totaling 47,000 meters have been completed. The results for the remaining few drill holes are pending and will be released as they become available.
The drill results reported below include six (6) holes drilled in the open-pittable North and South deposits (the "Western Deposits"). Assays for all holes except for drill hole NC12-31 were received after the recently released updated resource. As previously reported on September 7, 2012 the updated measured and indicated copper resource in the Western Deposits increased by over 1.1 billion pounds to 5.4 billion pounds.
In the North deposit, five holes were drilled, drill holes; NC12-28, 30, 31, 33, and 34. Results continue to expand mineralization along the southern edge and at depth. 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. Mineralization still remains open in several directions.
Drill holes NC12-28 and NC12-33 were also drilled along the south edge of the deposit. NC12-33 was drilled approximately 300 feet (91 meters) northeast of drill hole NC12-34 and intersected the main mineralized zone. The mineralization remains open to the south. Drill hole NC12-28 intersected limited mineralization. Drill hole NC12-31 targeted deeper mineralization and intersected several zones, confirming the shallower zones and expanding the lower mineralized zone.
Drill hole NC12-30 was drilled to test the down dip extension of mineralization along the northwest edge of the North deposit. The zone was intersected and mineralization remains open.
One hole was drilled in the South deposit. Drill hole NC12-32 was drilled in the center of the deposit where drill spacing was wide and mineralization needed better definition. The hole confirmed both the copper and iron mineralization. Several zones were encountered with the lower zone intersecting 230.0 feet (70.1 meters), 179.5 feet (54.7 meters) true thickness grading 0.23% copper just within, and also outside, the current feasibility ultimate pit limit.
Gregory French, Vice President, Senior Project Manager, commented, "The south edge of the North deposit continues to produce great results in both grade and thickness. Intersecting almost 700 feet of high grade mineralization in NC12-34 is extremely positive as we previously intersected 127 feet at 3.96% copper in hole NC12-03 which is located approximately 300 feet to the north. These results now open up a large prospective area between those holes that has not yet been drill tested. The nearest holes to the south and east are approximately 600 to 800 feet away. When drilling resumes, this area will be a top priority."
NORTH DEPOSIT - Assays greater than 0.15% Cu
---------------------------------------------------------------------------
True
Drill From To Length Length Length Copper Gold Silver Mo
Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (g/t)
---------------------------------------------------------------------------
NC12-28 338.3 344.4 6.1 20.0 3.5 0.94 0.086 2.1 0.001
---------------------------------------------------------------------------
NC12-30 276.8 283.5 6.7 22.0 3.8 0.56 0.030 1.8 less
than
0.001
---------------------------------------------------------------------------
507.3 530.3 23.0 75.5 13.2 0.50 0.043 2.0 0.010
---------------------------------------------------------------------------
553.2 560.2 7.0 23.0 4.0 0.67 0.096 3.9 0.016
---------------------------------------------------------------------------
NC12-31 277.3 332.2 54.9 180.0 4.0 0.27 0.026 1.2 0.004
---------------------------------------------------------------------------
353.5 365.1 11.6 30.0 8.9 0.59 0.061 2.3 0.004
---------------------------------------------------------------------------
424.0 468.2 44.2 145.0 33.9 0.71 0.087 3.6 0.005
---------------------------------------------------------------------------
NC12-33 440.4 449.6 9.1 30.0 7.9 0.29 0.027 1.1 less
than
0.001
---------------------------------------------------------------------------
460.2 499.7 39.5 129.5 34.2 0.70 0.081 3.1 less
than
0.001
---------------------------------------------------------------------------
NC12-34 352.0 562.3 210.3 690.0 190.6 1.17 0.085 3.6 0.009
---------------------------------------------------------------------------
including 371.9 417.6 45.7 150.0 35.0 3.08 0.143 8.3 0.022
---------------------------------------------------------------------------
580.7 627.9 47.2 155.0 33.4 0.26 0.053 1.0 0.002
---------------------------------------------------------------------------
644.7 672.1 27.4 90.0 19.4 0.40 0.059 1.7 0.002
---------------------------------------------------------------------------
SOUTH DEPOSIT - Assays greater than 0.15% Cu
---------------------------------------------------------------------------
True
Drill From To Length Length Length Copper Gold Silver Fe
Hole # (m) (m) (m) (ft) (m) % (g/t) (g/t) (%)
---------------------------------------------------------------------------
NC12-32 120.8 173.7 52.9 173.5 43.3 0.30 0.060 2.0 21.7
---------------------------------------------------------------------------
227.1 243.8 16.7 55.0 13.7 0.25 0.017 1.0 41.1
---------------------------------------------------------------------------
256.0 326.1 70.1 230.0 57.4 0.23 0.018 0.9 39.4
---------------------------------------------------------------------------
Plan maps with the respective drill locations will be made available at: http://www.nevadacopper.com/i/pdf/2012-09-12_NRM.pdf
Feasibility Study Update
Feasibility study work continues on schedule for a stand-alone high grade underground mine and mill as described in the News Release dated June 20, 2012. The production rate has now been established at 6,500 tons per day, sufficient for a 12 year initial mine life. Release of the feasibility study results is anticipated for October 2012.
A separate, updated feasibility study for an integrated project development will incorporate the new mineral resource estimate announced on September 7, 2012 for the Western Deposits. This study is scheduled for completion in January 2013.
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
To view the two images accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/ncu913i.pdf
We seek safe harbor.
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.
Executive Vice President & CFO
604-683-1309
bmcknight@nevadacopper.com
www.nevadacopper.com
