Nevada Copper-Intersects 773 Feet of 1.03% Copper in the Open Pittable North Depositadmin
Nevada Copper Corp. announce very significant high grade drilling results from the Company’s current 40,000 meter drill program, at its 100% owned Pumpkin Hollow Copper Development Property located in Nevada. Drilling continues to define continuity, thickness and expand the high grade copper mineralization. Specifically, following are the latest drilling results from the North Deposit.
Drill hole NC08-20 has intersected 235.6 meters (773 ft) averaging 1.03% copper. NC08-20 was drilled as a step out along the southern boundary of the open pittable North Deposit, where drill density was sparse or too shallow. The drill hole confirmed the extension of the shallow copper mineralization and much more. Within this large zone of copper mineralization a new high grade zone of skarn breccia was encountered, 45.7 meters (150 ft) averaging 2.99% copper, 0.232 g/t gold, and 8.3 g/t silver. In addition, NC08-20 contained a 26 meter (85ft) zone within the copper mineralization averaging 0.018% molybdenum.
“This exceptionally strong mineralization along the southern boundary of the North Deposit is very significant as it is expected to substantially expand the existing resource and any future open pit configurations. Continued success in expanding the resource southward could result in the merging of the proposed North and South Deposit pits as suggested in the recent Preliminary Economic Assessment, further enhancing already robust project economics,” commented Greg French, Project Manager for Nevada Copper. The Company is currently in the process of offsetting the mineralization which remains open 500 feet to the South and Southwest.
Drill holes NC08-06, 7, 8, and 9 were also drilled in the open pittable North Deposit. The drill holes were designed as infill holes to establish continuity and convert inferred resources to measured and indicated resources. The holes encountered several large zones of open pittable grade mineralization. The three largest zones: NC08-06 intersected 36.6 meters (120 ft) averaging 0.41% copper and 38.4 meters (126 ft) averaging 0.78% copper. Hole NC08-08 intersected 69.5 meters (228 ft) averaging 0.45% copper.
A plan map and cross sections for the deposits are available at www.nevadacopper.com. Drill results announced here represent true thicknesses.
In November of 2007, the Company reported a NI 43-101 compliant copper resource estimate for the North Deposit, at a 0.2% cutoff, of: Measured resource of 10.3 MM tons @ 0.81% copper, Indicated resource of 64.5 MM tons at 0.58% copper, and an additional Inferred resource of 158 MM tons @ 0.46% copper, resulting in a total contained copper resource of 2.4 billion pounds.
Over 40,000 meters of drilling is planned in the current 2008 program. To date 55 exploration, hydrologic, and geotechnical holes have been drilled for a total of 20,000 meters. Results from 13 holes have been reported with the balance either being processed or awaiting assays. Further drill results will be released as they become available throughout the remainder of 2008 and prior to the updated resource estimate scheduled for release in early December.