Nevsun Discovers New Massive Sulphide Deposit at Bisha

VANCOUVER, June 18, 2015 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce assay results from a new massive sulphide discovery at the grassroots Asheli prospect on the Mogoraib River Exploration License located 20 kilometers southwest of the Bisha processing plant.  The Asheli drilling is part of the 2015 Bisha regional exploration program which builds on the highly successful 2014 program.

HIGHLIGHTS

  • New greenfield volcanogenic massive sulphide discovery at Asheli
  • High grade massive sulphide intersections include:
    • MX-052: 2.29% Cu, 4.50% Zn,  0.45 g/t Au, 37 g/t Ag over  22.9 m
      Including 3.67% Cu, 8.04% Zn, 0.68 g/t Au, 50 g/t Ag over 7.4 m and 7.92% Cu, 3.89% Zn, 1.14 g/t Au, 101 g/t Ag over 2.9 m
    • MX-056: 1.26% Cu, 6.08% Zn, 0.28 g/t Au, 26 g/t Ag over 20.9 m including 1.71% Cu, 8.51% Zn, 0.37 g/t Au, 35 g/t Ag over 10.9 m
  • Deposit is associated with highly altered felsic volcanics and is open to expansion
  • Numerous untested geophysical targets along 4 km of similar stratigraphy

Nevsun CEO Cliff Davis commented, "We continue to have excellent results from our exploration programs at Bisha.  The assays reported today demonstrate that the Bisha District hosts numerous deposits like other classic volcanogenic massive sulphide (VMS) camps worldwide.  Our new greenfield discovery at Asheli is exciting in that it shows that the mineralizing systems on the Asheli trend are capable of producing high grade deposits with good thicknesses of massive sulphide.  With over 4 kilometers of untested strike length with similar geology the potential for further discoveries on this trend looks very promising".

Asheli Prospect

The Asheli area was targeted for the initial drill testing of the over 5 kilometer long Asheli Trend which is characterized by an extensive highly siliceous felsic fragmental unit that has numerous geophysical (airborne VTEM and ground Transient EM (TEM)) anomalies associated with it.  A previous operator of the project had drilled 10 short holes at Asheli targeting surface gossans that contained anomalous gold values (ASD-series of holes).  These drill holes did not intersect any massive sulphide mineralization but did encounter narrow zones with minor chalcopyrite and sphalerite stringers.  Bisha Mining Share Company (BMSC) re-evaluated the area by field mapping and completing a lithogeochemical analysis of the volcanic rocks.  This work defined a 700 meter long zone of highly sericite and chlorite altered felsic volcanic stratigraphy associated with gossan zones enhancing the probability that a VMS deposit was likely to be found in the area.

Hole MX-044 drilled immediately below historical holes ASD-001 and ASD-003 which had tested a surface gold bearing gossan intersected the first indications of a new massive sulphide deposit.  MX-044 returned 8.30 meters of massive sulphide grading 1.44% Cu, 4.00% Zn, 0.37 g/t Au, 27 g/t Ag.  Follow-up drilling in hole MX-052 confirmed the new discovery with 22.90 meters of massive sulphide grading 2.29% Cu, 4.50% Zn, 0.45 g/t Au, 37 g/t Ag and similar results were encountered in hole MX-056 drilled approximately 100 meters above MX-052.  The mineralization is associated with strongly chlorite and sericite altered felsic volcanics.

Chalcopyrite-rich zones in the massive sulphide produce strong borehole TEM responses and these responses are helping to guide the drilling of the deposit by allowing large over 100 meter step-outs in the initial drill evaluation.  The zone remains open to expansion in a number of directions.    

The Asheli discovery highlights the prospectivity of the Asheli Trend.  With only 1 kilometer of the trend drill tested during this first phase of exploration and an additional 4 kilometers that has never been drill tested and having similar geology, the likelihood of further discoveries is high. Rainy season begins in mid-June and will require further work to be paused until later in the year. 

Regional Exploration Program

The 2015 BMSC regional exploration program is currently focused on three main areas:  expansion of the Harena deposit at depth and along strike; exploring the perimeter of the Bisha deposit at depth and along strike; and, evaluating regional targets on the Mogoraib River License at Asheli, Aderat and Tekewuda.  Systematic surface and borehole TEM surveys in combination with geological and lithogeochemical modeling is being used to successfully guide the exploration effort.

Quality Assurance                                                                                

A Quality Assurance/Quality Control program was part of the sampling program for the Asheli work.  This program includes chain of custody protocols as well as systematic use of standards, duplicates and blank samples into the flow of samples produced by the sampling. All samples were prepared and analyzed at Bisha's on-site laboratory independently operated by SGS.

Drilling intercept lengths only are reported in the tables and text below.

Mr. Robert Foy P.Geo., BMSC's Exploration Manager, has been overseeing the drilling at Asheli and is a Qualified Person as defined by NI 43-101.  Mr. Foy has reviewed the technical content of this press release and approved its dissemination.

Forward Looking Statements

The above contains forward-looking statements or forward-looking information within the meaning of the United States Private Securities Litigation Reform Act of 1995, and applicable Canadian securities laws. Forward-looking statements are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimated," "potential," "possible" and similar expressions, or statements that events, conditions or results "will," "may," "could" or "should" occur or be achieved.  Forward-looking statements are statements concerning the Company's current beliefs, plans and expectations about the future including but not limited to commercial production, future production of copper and related cash flows and are inherently uncertain. The 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, the risks that: (i) any of the assumptions in the historical resource estimates turn out to be incorrect, incomplete, or flawed in any respect; (ii) the methodologies and models used to prepare the resource and reserve estimates either underestimate or overestimate the resources or reserves due to hidden or unknown conditions, (iii) exploration activities or the mine operations are disrupted or suspended due to acts of god, internal conflicts in the country of Eritrea, unforeseen government actions or other events; (iv) the Company experiences the loss of key personnel; (v) the Company's operations or exploration activities are adversely affected by other political or military, or terrorist activities; (vi) the Company becomes involved in any material disputes with any of its key business partners, suppliers or customers; (vii) the Company is subjected to any hostile takeover or other unsolicited attempts to acquire control of the Company; (viii) the Company is subject to any adverse ruling in any of the pending litigation to which it is a party; (ix) the Company incurs unanticipated power interruptions or failures due to electrical circuit failures or inadequate fuel quality or supply required to effectively operate power generators for the plant or otherwise or costs or required repairs to the copper floatation plant; or * are associated with the speculative nature of exploration activities, periodic interruptions to exploration, failure of drilling, processing and mining equipment, the interpretation of drill results and the estimation of mineral resources and reserves, changes to exploration and project plans and parameters and other risks are more fully described in the Company's Annual Information Form for the fiscal year ended December 31, 2014, which is incorporated herein by reference.  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, except as required by law.  For the reasons set forth above, investors should not place undue reliance on the Company's forward-looking statements.

Further information concerning risks and uncertainties associated with these forward-looking statements and our business can be found in our Annual Information Form for the year ended December 31, 2014, which is available on the Company's website (www.nevsun.com), filed under our profile on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under cover of Form 40-F

About Nevsun Resources Ltd.

Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea.  Nevsun's 60%-owned Bisha Mine ranks as one of the highest grade open pit copper mines in the world. Nevsun has a strong balance sheet and future cash flows to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.

NEVSUN RESOURCES LTD.

"Cliff T. Davis"
Cliff T. Davis
President & Chief Executive Officer
NSU15-18.doc

Asheli Intersections

Hole ID

From

To

L (m)

Cu %

Zn %

Au
ppm

Ag
ppm

Rock
Type

MX-044

202.20

210.50

8.30

1.44

4.00

0.37

27

MSUL

includes

204.50

207.00

2.50

1.56

8.51

0.33

27

MSUL










MX-052

242.00

264.90

22.90

2.29

4.50

0.45

37

MSUL

includes

242.70

250.10

7.40

3.67

8.04

0.68

50

MSUL

and

255.00

264.90

9.90

1.99

3.38

0.36

39

MSUL

and

242.70

245.60

2.90

7.92

3.89

1.14

101

MSUL

and

259.90

261.80

1.90

5.62

2.53

0.37

66

MSUL










MX-056

142.10

163.00

20.90

1.26

6.08

0.28

26

MSUL

includes

142.10

153.00

10.90

1.71

8.51

0.37

35

MSUL

and

153.00

161.50

8.50

0.84

3.91

0.20

16

MSUL

Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058

 

Asheli Figures 1-4

Drill Collar Locations

HOLE
ID

UTM
Easting

UTM
Northing

Elevation

Depth
 (m)

Azimuth

Dip

MX-041

319722

1704390

675

350

120

-50

MX-042

319713

1704286

676

350

120

-60

MX-043

319943

1704493

673

299

120

-55

MX-044

319629

1704138

678

335

120

-55

MX-045

320092

1704641

671

143

120

-55

MX-046

319529

1704000

679

291

120

-55

MX-047

320637

1705652

660

164

120

-55

MX-048

319521

1704198

677

410

120

-55

MX-049

319433

1704053

680

428

120

-60

MX-050

319361

1703843

682

440

120

-58

MX-051

319608

1704340

675

440

120

-60

MX-052

319580

1704068

677

356

120

-63

MX-053

319953

1704255

675

215

120

-58

MX-054

319476

1704126

681

503

120

-62

MX-055

320192

1704582

671

128

120

-55

MX-056

319623

1704042

679

209

120

-55

MX-057

319503

1704400

677

600

120

-68

MX-058

319478

1704222

677

600

120

-68

Note: Collar coordinates are in UTM WGS84 Zone37N

Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058

SOURCE Nevsun Resources Ltd.

PDF available at: http://stream1.newswire.ca/media/2015/06/18/20150618_C4363_PDF_EN_18245.pdf

For further information: Kin Communications, Tel: 604 684 6730, Toll free: 1 866 684 6730, Email: nsu@kincommunications.com, Website: www.nevsun.com


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