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Dec 05, 2017 13:06 EEST
December 5 (SeeNews) - Canada-based Nevsun Resources said on Tuesday it has discovered 14 new porphyry copper intersections of greater than 1.0% copper at the high-grade Timok Lower Zone copper-gold project in Serbia.
New drilling expands Lower Zone footprint to the northwest by approximately 350 metres by 750 metres and continues to confirm the high grade, continuity and thickness of the mineralisation, Nevsun Resources said in a statement.
"The results released today continue to demonstrate the potential of the Lower Zone mineralisation with numerous intervals of greater than 1.0% copper. The latest drilling has further extended the porphyry deposit to the northwest, and now identifies mineralisation over a roughly 1,000 by 1,500-metre footprint," the CEO of Nevsun, Peter Kukielski, said.
The reported assays are part of the ongoing $20 million (16.9 million euro) drilling programme with Nevsun's joint venture partner Freeport-McMoRan Exploration Corporation. The programme is expected to be complete in early 2018 and is designed to further define the large footprint of the Timok Lower Zone mineralisation, Kukielski noted.
The Timok project consists of the Cukaru Peki Upper Zone and Lower Zone. Nevsun owns 100% of the Cukaru Peki Upper Zone. The Lower Zone is owned by a joint venture with Freeport.
The project is located within the central zone of the Timok Magmatic Complex, in the Serbian section of the East European Carpathian-Balkan Arc. The Timok Magmatic Complex has one of the highest concentrations of copper enrichment in the Tethyan Belt.
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