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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: krishnamurti888 who wrote (20835)	9/20/2003 3:26:10 PM
From: Andrew	Respond to of 39344

NSU.TO is one that I dont hear much about here on the messege boards. It is my largest holding and I still hold some of what I bought at .13 and added a few on Thursday at 4.41 and 4.43. They will have two drill rigs working in October on their Bisha project. Nevsun Resources Ltd (C-NSU) - News Release Nevsun's third phase of Bisha drilling to begin Oct. 10 Nevsun Resources Ltd NSU Shares issued 55,422,606 Sep 16 2003 close $ 4.53 Wednesday September 17 2003 News Release Dr. John Clarke reports NEVSUN RESOURCES LTD.: SECOND DRILL RIG MOBILIZED TO BISHA PROJECT, ERITREA; EXPLORATION UPDATE ON ERITREAN PROPERTIES Nevsun Resources has disclosed that a second diamond drill rig is currently in transit and is due to arrive at the Bisha high-grade gold and copper project in Eritrea toward the end of September. The third phase exploration and drill program is on schedule and due to commence on or around Oct. 10, 2003. Two Boart Longyear 44 drills will conduct a 14,000-metre drilling program designed to infill zones defined by past work, extend known zones along strike, and to depth and test several kilometres of new exploration targets. At the commencement of the program, one rig will focus on drilling the main Bisha high-grade gold/copper discovery and the second rig will target a significant anomaly located 1.5 kilometres to the northwest of the main Bisha discovery. The new Northwest zone displays a significant airborne electromagnetic and ground gravity response. This strong electromagnetic response can be traced over a strike length of at least three kilometres to the south, representing a high-quality exploration target. Past stream sediment work indicated anomalous copper, lead and zinc values in a stream located 1.5 kilometres southwest of the main Bisha zone where electromagnetic data indicate significant anomalies. An important objective of the drill program is to be able to complete an initial resource estimation in early 2004. Snowden Mining Industry Consultants will be conducting an on-site visit of the project in November as part of its participation in the resource estimation. Contract geophysical work in the form of pulse electromagnetic, horizontal loop electromagnetic, gravity and magnetometer surveys will be carried out over an expanded grid that covers airborne electromagnetic targets defined mostly to the west of the present drill defined deposit. It is expected that this geophysical work will take place over a 2.5-month period in order to cover the extensive anomalous area depicted by the airborne geophysical results. Past geophysical work has successfully discriminated anomalous conditions and allowed Nevsun's exploration staff to prioritize exploration targets for subsequent drilling. An exploration team will also be responsible for prioritizing a number of airborne geophysical targets located within the present Bisha permit area. These areas are to be prospected, sampled and when warranted gridded, geologically mapped and geophysically surveyed. It is aimed to have a number of these targets ready for drilling in early 2004. With the assistance of ALS Chemex, Nevsun will be establishing a preparation laboratory on-site which will be operated by Nevsun. The laboratory will reduce sample shipping costs and decrease the turnaround time on analytical/assay results. The laboratory has been set up by ALS Chemex in a standard shipping container to be able to function as soon as it arrives on-site at the Bisha camp. ALS Chemex will audit the laboratory to ensure correct quality assurance protocols to North American standards. In anticipation of an expanded exploration program, Nevsun is currently doubling the size of the permanent camp at Bisha. Construction will be completed for the startup of the exploration work in early October. Exploration work on properties other than Bisha is also being formulated. The AK and Okreb properties, situated close to Bisha, have been geologically and geophysically surveyed in the past and some targets are ready for drill testing. Soil geochemistry has discriminated some of the geophysical targets. It is planned to use a small Eritrean diamond drill to complete the initial drilling at AK and Okreb. This work will likely commence in early November. A 1,000- to 1,500-metre program is initially planned. Final drill contract negotiations will take place in the latter part of September. At Nevsun's newly acquired Augaro property, a separate exploration team will mobilize in early November in order to set up a semi-permanent camp, complete an area reconnaissance and a followup on a recently completed airborne geophysical survey. It is anticipated that additional regional geochemical work as well as trenching over the old Augaro mine area will also take place during the initial six-week exploration program. It is anticipated that a number of targets will be ready for drilling in the latter part of 2004.