From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Thu Feb 11 2010 - 08:14:18 EST
2010 Press Release - Assay Results at the Harena VMS Deposit, Eritrea
February 11, 2010
Vancouver, British Columbia -- Nevsun Resources Ltd. (TSX: NSU/NYSE
AMEX:NSU) is pleased to report the final assays from the seventeen infill
diamond drill holes at the Harena deposit within its Bisha exploration
license in Eritrea. Harena lies 9.5 km southwest from the Bisha Main
deposit and the exploration license is contiguous to the Company's Bisha
Mining license.
Highlights
* Third VMS near surface deposit on Bisha
* Mainly base metal (zinc) with some gold
* Additional feed for the Bisha mine
The infill drilling took place in the fall, 2009 and was carried out to
confirm a previously identified discovery. Harena was originally selected as
a potential exploration target based on an alteration anomaly defined on
Landsat imagery. A subsequent airborne EM survey defined a moderate
conductor over a limited strike length on what was interpreted to be the
same stratigraphic horizon as the Bisha Main deposit. Diamond drilling in
2005 intersected various widths of oxide and sulphide mineralization over a
strike length of 400 meters confirming the presence of a satellite VMS
(volcanogenic massive sulphide) deposit. As a result of the Company's
efforts to advance the Bisha Main Zone through feasibility and development,
the Harena area was left until the fall of 2009 for further exploration.
The results are summarized as follows:
Hole #
>From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
Zn (%)
H-029
61.50
68.50
7.00
2.71
51.86
1.01
0.14
Incl.
67.50
68.50
1.00
16.60
155.00
0.79
0.03
H-030
118.30
119.30
1.00
0.27
12.00
0.34
2.27
and
148.75
153.00
4.25
0.43
12.01
0.54
2.34
H-031
20.50
44.90
24.40
1.63
8.90
0.06
0.68
Incl.
30.00
35.75
5.75
3.31
10.56
0.03
0.47
Incl.
38.00
43.90
5.90
2.26
10.25
0.05
0.18
H-032
62.57
100.00
37.43
0.13
9.72
0.37
3.51
Incl.
68.00
75.00
7.00
0.11
6.43
0.13
4.21
Incl.
81.00
99.00
18.00
0.13
8.67
0.48
4.58
H-033
105.70
137.70
32.00
0.15
11.19
0.33
5.42
Incl.
106.70
114.70
8.00
0.12
18.88
0.16
7.91
Incl.
127.70
132.70
5.00
0.06
3.20
0.21
6.59
H-034
106.57
134.00
27.43
0.69
39.62
0.74
4.93
Incl.
110.50
121.40
10.90
0.23
19.38
0.52
6.38
Incl.
124.80
128.80
4.00
0.10
7.50
0.27
8.32
Incl.
128.80
134.00
5.20
2.62
134.42
1.95
1.35
H-035
36.00
38.00
2.00
1.24
30.50
0.10
0.96
and
42.00
73.00
31.00
2.41
12.71
0.05
0.06
Incl.
49.50
57.00
7.50
3.71
4.60
0.02
0.05
Incl.
58.50
64.00
5.50
4.93
4.73
0.01
0.04
Incl.
67.00
71.50
4.50
3.47
12.67
0.16
0.04
H-036
77.30
115.00
37.70
0.32
27.18
0.74
3.00
Incl.
93.95
102.00
8.05
0.58
38.39
1.59
7.57
Incl.
108.00
113.00
5.00
0.14
6.20
0.41
5.07
H-037
131.50
154.50
23.50
0.61
30.52
1.09
4.50
Incl.
131.50
142.90
11.40
0.33
33.64
1.08
8.51
H-038
150.30
162.60
12.30
0.50
30.91
1.13
3.85
Incl.
150.30
155.30
5.00
0.28
31.40
0.78
8.45
H-040
74.50
94.20
19.70
0.41
23.40
0.65
5.04
Incl.
75.30
83.50
8.20
0.57
34.21
0.97
8.58
Incl.
83.50
88.20
4.70
0.92
39.96
0.99
5.60
H-041
121.00
124.00
3.00
0.19
27.00
0.59
4.51
and
145.20
147.00
1.80
0.54
26.50
0.68
3.26
H-042
167.25
187.00
19.75
0.85
37.20
0.72
3.82
Incl.
167.25
172.00
4.75
0.35
57.40
1.11
5.81
Incl.
172.00
180.00
8.00
0.29
15.00
0.23
5.75
H-043
149.55
160.00
10.45
0.38
19.04
0.51
4.79
Holes 28, 39, and 44 showed no significant mineralization. Historic holes 1
through 27 were carried out and published in 2005. The drill hole locations
were selected to infill drill the gossanous oxide cap and underlying
sulphide structure on 50m spacings. All holes were done at 45 or 65 degrees.
The results were positive, and have provided added confidence to the widths
and grades of the third VMS near surface deposit on the Bisha concession.
A number of dykes have cut the near surface mineralization at Harena making
determinations of actual widths of the zone somewhat difficult but have been
estimated to range between 5m to 35m over a 400m strike length. The deposit
is hosted by a sequence of felsic to intermediate volcanics with a distinct
footwall often containing kyanite and andalusite. The footwall rocks are
often noticeably chloritized.
Nevsun views the Harena deposit as a very likely source of supplemental feed
for the processing plant at Bisha which is currently under construction.
Supplemental feed can provide valuable cash flow as an extension to mine
life without having to absorb start up plant capital expenses. A map is
attached to this release showing the locations of the holes.
Darin Wasylik, Senior Geologist for Nevsun, a qualified person under
National Instrument 43-101, supervised and directed all work associated with
the drilling program.
Sample preparation and analysis were conducted at ALS Chemex of Vancouver,
Canada.
The Bisha Main zone is a significant gold/copper/zinc deposit that has been
developed through feasibility, engineering and construction. It is
approximately 50% complete to production, with operations planned to
commence in late 2010. The Bisha Main deposit is open at depth and there
exists at least two additional satellite deposits within the Company's
exploration and mining licensed areas.
The State of Eritrea is a strong supporter of a responsible mining industry
and is a partner with the Company in the ownership and development of the
Bisha mine.
Forward Looking Statements:
The above contains statements regarding positive drill results, indications
that the Bisha concession may host multiple deposits, the Harena deposit as
a potential source of supplemental feed and valuable cash flow, the close
relationship between the interpreted graphitic horizon and the Harena
massive sulphide, and additional prospects at the Harena area. Although we
believe the expectations reflected in our forward looking statements are
reasonable, results may vary, and we cannot guarantee future results, levels
of activity, performance or achievements. . Forward-looking statements are
statements about the future and are inherently uncertain, and actual
achievements of the Company or other future events or conditions may differ
materially from those reflected in the forward-looking statements due to a
variety of risks, uncertainties and other factors, including, without
limitation, those described in the Management Discussion and Analysis of the
Company. The Company's forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements are made
and the Company assumes no obligation to update such forward-looking
statements in the future. For the reasons set forth above, investors should
not place undue reliance on forward-looking statements..
NEVSUN RESOURCES LTD.
Cliff T. Davis
President & Chief Executive Officer
To view the map accompanying this press release please visit the following
link:
<http://media3.marketwire.com/docs/NEV210MAP.pdf>
http://media3.marketwire.com/docs/NEV210MAP.pdf
For further information, please contact:
Kin Communications
Tel: 604 684 6730
Toll free 1 866 684 6730
Email: <mailto:ir@kincommunications.com> ir@kincommunications.com
Website: <http://www.nevsun.com> www.nevsun.com
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