http://www.winnipegfreepress.com/business/breakingnews/nevsun-says-it-will-mine-up-to-210000-gold-ounces-this-year-from-african-project--138840899.html
The Canadian Press - ONLINE EDITION
Nevsun says it will mine up to 210,000 gold ounces this year from African
project
By: The Canadian Press
Posted: 02/7/2012 6:28 AM
VANCOUVER - Nevsun Resources Ltd. (TSX:NSU) says it expects to produce
between 190,000 to 210,000 ounces of gold this year from its Bisha mine in
Eritrea — about half of what the junior miner was originally expecting.
The Vancouver company said Tuesday that original resource estimates used in
planning the mine "over-estimated gold in portions of the Bisha Main oxide
mineralization."
"Accordingly, the ounces to be produced in 2012 are about half of what
Nevsun was previously expecting," the company said.
Nevsun has called Bisha one of the highest grade open pit deposits in the
world, a mine with a life of at least 12 years and which is being developed
to produce copper starting next year.
"Bisha had an excellent 2011 operating year, achieving its gold and cost
per ounce production objectives," Nevsun CEO Cliff Davis said in a release
Tuesday before stock markets opened.
"For 2012, Bisha has the team and contractors in place to successfully
execute the copper phase expansion project so that copper production can
start in mid 2013."
The miner said it hopes to have updated figures on Bisha's gold and copper
resources later this year.
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Received on Tue Feb 07 2012 - 12:18:16 EST
