Cash Cow! Nevsun Resources (NSU-T) June 18, '15 is pleased to announce assay results from a new massive sulphide discovery at the grassroots Asheli prospect on the Mogoraib River Exploration License located 20 kilometers southwest of the Bisha processing plant. The Asheli drilling is part of the 2015 Bisha regional exploration program which builds on the highly successful 2014 program.
HIGHLIGHTS
New greenfield volcanogenic massive sulphide discovery at Asheli
High grade massive sulphide intersections include:
MX-052: 2.29% Cu, 4.50% Zn, 0.45 g/t Au, 37 g/t Ag over 22.9 m Including 3.67% Cu, 8.04% Zn, 0.68 g/t Au, 50 g/t Ag over 7.4 m and 7.92% Cu, 3.89% Zn, 1.14 g/t Au, 101 g/t Ag over 2.9 m
MX-056: 1.26% Cu, 6.08% Zn, 0.28 g/t Au, 26 g/t Ag over 20.9 m including 1.71% Cu, 8.51% Zn, 0.37 g/t Au, 35 g/t Ag over 10.9 m
Deposit is associated with highly altered felsic volcanics and is open to expansion
Numerous untested geophysical targets along 4 km of similar stratigraphy
Nevsun CEO Cliff Davis commented, "We continue to have excellent results from our exploration programs at Bisha. The assays reported today demonstrate that the Bisha District hosts numerous deposits like other classic volcanogenic massive sulphide (VMS) camps worldwide. Our new greenfield discovery at Asheli is exciting in that it shows that the mineralizing systems on the Asheli trend are capable of producing high grade deposits with good thicknesses of massive sulphide. With over 4 kilometers of untested strike length with similar geology the potential for further discoveries on this trend looks very promising".
Asheli Prospect
The Asheli area was targeted for the initial drill testing of the over 5 kilometer long Asheli Trend which is characterized by an extensive highly siliceous felsic fragmental unit that has numerous geophysical (airborne VTEM and ground Transient EM (TEM)) anomalies associated with it. A previous operator of the project had drilled 10 short holes at Asheli targeting surface gossans that contained anomalous gold values (ASD-series of holes). These drill holes did not intersect any massive sulphide mineralization but did encounter narrow zones with minor chalcopyrite and sphalerite stringers. Bisha Mining Share Company (BMSC) re-evaluated the area by field mapping and completing a lithogeochemical analysis of the volcanic rocks. This work defined a 700 meter long zone of highly sericite and chlorite altered felsic volcanic stratigraphy associated with gossan zones enhancing the probability that a VMS deposit was likely to be found in the area.
Hole MX-044 drilled immediately below historical holes ASD-001 and ASD-003 which had tested a surface gold bearing gossan intersected the first indications of a new massive sulphide deposit. MX-044 returned 8.30 meters of massive sulphide grading 1.44% Cu, 4.00% Zn, 0.37 g/t Au, 27 g/t Ag. Follow-up drilling in hole MX-052 confirmed the new discovery with 22.90 meters of massive sulphide grading 2.29% Cu, 4.50% Zn, 0.45 g/t Au, 37 g/t Ag and similar results were encountered in hole MX-056 drilled approximately 100 meters above MX-052. The mineralization is associated with strongly chlorite and sericite altered felsic volcanics.
Chalcopyrite-rich zones in the massive sulphide produce strong borehole TEM responses and these responses are helping to guide the drilling of the deposit by allowing large over 100 meter step-outs in the initial drill evaluation. The zone remains open to expansion in a number of directions.
The Asheli discovery highlights the prospectivity of the Asheli Trend. With only 1 kilometer of the trend drill tested during this first phase of exploration and an additional 4 kilometers that has never been drill tested and having similar geology, the likelihood of further discoveries is high. Rainy season begins in mid-June and will require further work to be paused until later in the year.
Regional Exploration Program
The 2015 BMSC regional exploration program is currently focused on three main areas: expansion of the Harena deposit at depth and along strike; exploring the perimeter of the Bisha deposit at depth and along strike; and, evaluating regional targets on the Mogoraib River License at Asheli, Aderat and Tekewuda. Systematic surface and borehole TEM surveys in combination with geological and lithogeochemical modeling is being used to successfully guide the exploration effort.
Quality Assurance
A Quality Assurance/Quality Control program was part of the sampling program for the Asheli work. This program includes chain of custody protocols as well as systematic use of standards, duplicates and blank samples into the flow of samples produced by the sampling. All samples were prepared and analyzed at Bisha's on-site laboratory independently operated by SGS.
Drilling intercept lengths only are reported in the tables and text below.
Mr. Robert Foy P.Geo., BMSC's Exploration Manager, has been overseeing the drilling at Asheli and is a Qualified Person as defined by NI 43-101. Mr. Foy has reviewed the technical content of this press release and approved its dissemination.
NEVSUN RESOURCES LTD.
"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
NSU15-18.doc
Asheli Intersections
Hole ID
| From
| To
| L (m)
| Cu %
| Zn %
| Au
ppm
| Ag
ppm
| Rock
Type
| MX-044
| 202.20
| 210.50
| 8.30
| 1.44
| 4.00
| 0.37
| 27
| MSUL
| includes
| 204.50
| 207.00
| 2.50
| 1.56
| 8.51
| 0.33
| 27
| MSUL
|
|
|
|
|
|
|
|
|
| MX-052
| 242.00
| 264.90
| 22.90
| 2.29
| 4.50
| 0.45
| 37
| MSUL
| includes
| 242.70
| 250.10
| 7.40
| 3.67
| 8.04
| 0.68
| 50
| MSUL
| and
| 255.00
| 264.90
| 9.90
| 1.99
| 3.38
| 0.36
| 39
| MSUL
| and
| 242.70
| 245.60
| 2.90
| 7.92
| 3.89
| 1.14
| 101
| MSUL
| and
| 259.90
| 261.80
| 1.90
| 5.62
| 2.53
| 0.37
| 66
| MSUL
|
|
|
|
|
|
|
|
|
| MX-056
| 142.10
| 163.00
| 20.90
| 1.26
| 6.08
| 0.28
| 26
| MSUL
| includes
| 142.10
| 153.00
| 10.90
| 1.71
| 8.51
| 0.37
| 35
| MSUL
| and
| 153.00
| 161.50
| 8.50
| 0.84
| 3.91
| 0.20
| 16
| MSUL
|
Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058
Asheli Figures 1-4
Drill Collar Locations
HOLE
ID
| UTM
Easting
| UTM
Northing
| Elevation
| Depth
(m)
| Azimuth
| Dip
| MX-041
| 319722
| 1704390
| 675
| 350
| 120
| -50
| MX-042
| 319713
| 1704286
| 676
| 350
| 120
| -60
| MX-043
| 319943
| 1704493
| 673
| 299
| 120
| -55
| MX-044
| 319629
| 1704138
| 678
| 335
| 120
| -55
| MX-045
| 320092
| 1704641
| 671
| 143
| 120
| -55
| MX-046
| 319529
| 1704000
| 679
| 291
| 120
| -55
| MX-047
| 320637
| 1705652
| 660
| 164
| 120
| -55
| MX-048
| 319521
| 1704198
| 677
| 410
| 120
| -55
| MX-049
| 319433
| 1704053
| 680
| 428
| 120
| -60
| MX-050
| 319361
| 1703843
| 682
| 440
| 120
| -58
| MX-051
| 319608
| 1704340
| 675
| 440
| 120
| -60
| MX-052
| 319580
| 1704068
| 677
| 356
| 120
| -63
| MX-053
| 319953
| 1704255
| 675
| 215
| 120
| -58
| MX-054
| 319476
| 1704126
| 681
| 503
| 120
| -62
| MX-055
| 320192
| 1704582
| 671
| 128
| 120
| -55
| MX-056
| 319623
| 1704042
| 679
| 209
| 120
| -55
| MX-057
| 319503
| 1704400
| 677
| 600
| 120
| -68
| MX-058
| 319478
| 1704222
| 677
| 600
| 120
| -68
|
Note: Collar coordinates are in UTM WGS84 Zone37N
Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058
SOURCE Nevsun Resources Ltd. |
