Nevsun Intersects Further High Grade Mineralization at Asheli

VANCOUVER, April 19, 2016 /CNW/ - Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce new assay results from drilling at the Asheli prospect which is part of the ongoing 2016 Regional Exploration program at Bisha. 

HIGHLIGHTS

  • New drilling demonstrates continuity of Asheli mineralization
  • New massive sulphide intersections at Asheli include:
    • MX-068:  44.0m @ 1.97% Cu, 9.13% Zn, 0.36g/t Au, 32g/t Ag, including 20.0m @ 2.76% Cu, 11.04% Zn, 0.43g/t Au, 43g/t Ag
    • MX-066:  22.2m @ 2.43% Cu, 9.98% Zn, 0.33g/t Au, 35g/t Ag, including 7.50m @ 2.20% Cu, 21.42% Zn, 0.30g/t Au, 37g/t Ag
    • MX-065:  29.2m @ 2.10% Cu, 4.85% Zn, 0.46 g/t Au, 40 g/t Ag
    • Drill intercepts are estimated to be approximately 70% of the true width
  • Asheli mineralization open with further expansion potential possible
  • Numerous additional untested targets along the over 4 kilometres long trend of similar stratigraphy

Nevsun CEO Cliff Davis commented, "We continue to have excellent results from our exploration programs at Bisha as demonstrated today by the assays reported from our drilling at Asheli.  Asheli is a new greenfield discovery that we made on our Mogoraib River Exploration License a year ago. Attractive copper and zinc grades in massive sulphides continue to be intersected and the massive sulphide encountered in a recent hole is nearly twice as thick as our initial intercepts were. With over four kilometres of untested strike length with similar geology the potential for further discoveries on the Asheli trend looks very promising. Our exploration efforts continue to illustrate the high potential for the Bisha District to develop in a fashion similar to that of other large VMS camps worldwide".

Asheli

The Asheli deposit was discovered by Bisha Mining Share Company (BMSC) in April 2015 (see June 18, 2015 Press Release). The initial focus of exploration was a 700 metre long section of highly sericite and chlorite altered felsic volcanics with associated small, pod-shaped surface gossans within a five kilometre long horizon with similar geology.  Limited historical drilling (ASD prefixed holes) had intersected only narrow stringer style mineralization with minor chalcopyrite and sphalerite but no massive sulphides. 

BMSC's 2015 discovery hole MX-044 returned 8.30 metres of massive sulphide grading 1.44% Cu and 4.00% Zn. Follow-up drilling in hole MX-052 confirmed the new discovery with 22.90 metres of massive sulphide grading 2.29% Cu and 4.50% Zn and additional massive sulphide mineralization was intersected in hole MX-056 (20.90 metres grading 1.26% Cu, 6.08% Zn). Drilling was suspended in July for the rainy season in this part of Eritrea and to focus on other high priority targets elsewhere.

In April 2016, drilling resumed at Asheli with a goal of better defining the geometry of the massive sulphide deposit. Holes MX-065 (29.2 metres grading 2.10% Cu, 4.85% Zn; see table below) and MX-066 (22.2 metres grading 2.43% Cu, 9.98% Zn) confirmed the thickness and continuity of the massive sulphide zone, in addition to the high grade nature of the mineralization. Hole MX-068 targeted the projected down plunge extension of the mineralization approximately 100 metres below the known deposit. This hole successfully intersected 44.0 metres of massive sulphide grading 1.97% Cu and 9.13% Zn. Additional drilling is currently in progress to further extend this new thick zone of mineralization.

These new drill holes further highlight the prospectivity of the Asheli Trend to host high grade massive sulphide deposits. With only about one kilometre of the favourable trend having been drill tested so far, further drilling on this trend is planned once the definition of the Asheli deposit has been completed.

Quality Assurance                                                                                 

A Quality Assurance/Quality Control program was part of the assaying program at Bisha. 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.

Mr. Robert Foy P.Geo., BMSC's Exploration Manager, has been overseeing the drilling at Bisha 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.

About Nevsun Resources Ltd.

Nevsun Resources Ltd. is the 60% owner of the high grade Bisha Mine in Eritrea. Bisha has over 9 years of reserve life, generating revenue from both copper and zinc concentrates containing gold and silver by-products. Nevsun has a strong balance sheet with over US$400 million in cash, no debt and pays a peer leading quarterly dividend.  Nevsun is well positioned to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.

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 unexpected costs or repairs to the plant; * the Company incurs unanticipated costs as a result of the transition from the supergene ore phase of the Bisha mine to the primary ore phase or experiences challenges with copper mineralogy or host pyrite minerals that impacts metallurgical recoveries and concentrate grades in the transition zone; or (xi) 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, 2015, 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, 2015, 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.

NEVSUN RESOURCES LTD.

"Cliff T. Davis"

Cliff T. Davis
President & Chief Executive Officer

2016 Asheli Drilling Results

HOLE
ID

From
(m)

To
(m)

Length
(m)

Cu %

Zn %

Au g/t

Ag g/t

MX-064

No Significant Values 

MX-065

274.50

280.50

6.00

2.34

1.05

0.51

29

MX-065

290.60

319.80

29.20

2.10

4.85

0.46

40

includes

290.60

301.10

10.50

2.74

5.24

0.46

60

and

301.10

319.80

18.70

1.74

4.63

0.46

29

also

294.55

300.50

5.95

3.82

2.96

0.54

65

also

301.10

303.50

2.40

0.96

16.54

0.46

36

also

317.10

319.40

2.30

3.27

7.59

0.60

41

MX-066

191.80

214.00

22.20

2.43

9.98

0.33

35

includes

191.80

195.00

3.20

2.84

5.01

0.39

37

and

195.00

202.50

7.50

2.20

21.42

0.30

37

and

202.50

214.00

11.50

2.46

3.90

0.35

34

also

206.00

212.00

6.00

3.61

5.23

0.40

46

MX-067

Assays Pending 

MX-068

354.00

355.90

1.90

3.23

11.05

0.77

46

MX-068

361.00

363.30

2.30

1.11

12.96

0.50

25

MX-068

367.00

411.00

44.00

1.97

9.13

0.36

32

includes

367.00

373.50

6.50

1.97

6.34

0.53

45

and

373.50

393.50

20.00

2.76

11.04

0.43

43

and

393.50

400.50

7.00

1.71

3.72

0.27

24

and

400.50

411.00

10.50

0.65

10.83

0.19

8

and

411.00

418.50

7.50

0.57

1.57

0.59

26

also

373.50

380.00

6.50

2.26

17.12

0.28

41

also

380.00

393.50

13.50

3.00

8.11

0.50

44

MX-069

Assays Pending 

MX-070

154.00

162.80

8.80

2.68

3.86

0.55

35

includes

154.00

158.30

4.30

4.50

1.14

0.82

57

and

158.30

162.80

4.50

0.94

6.46

0.29

14

MX-070

163.70

165.50

2.30

0.16

0.27

3.28

158

 

Drill intercepts are estimated to be approximately 70% of the true width

2015 Asheli Drilling Results

HOLE ID

From

To

L (m)

Cu %

Zn %

Au ppm

Ag ppm

previously
reported

MX-041

No Significant Values 

N

MX-042

No Significant Values 

N

MX-043

No Significant Values 

N

MX-044

202.20

210.50

8.30

1.44

4.00

0.37

27

Y

includes

204.50

207.00

2.50

1.56

8.51

0.33

27

Y

MX-045

No Significant Values 

N

MX-046

No Significant Values 

N

MX-047

No Significant Values 

N

MX-048

309.80

325.00

15.20

0.44

0.47

0.37

44

N

includes

315.00

317.50

2.50

1.56

1.69

0.72

69

N

MX-049

No Significant Values 

N

MX-050

318.00

321.60

3.60

0.12

0.09

2.39

159

N

MX-051

No Significant Values 

N

MX-052

242.00

264.90

22.90

2.29

4.50

0.45

37

Y

includes

242.70

250.10

7.40

3.67

8.04

0.68

50

Y

and

255.00

264.90

9.90

1.99

3.38

0.36

39

Y

and

242.70

245.60

2.90

7.92

3.89

1.14

101

Y

and

259.90

261.80

1.90

5.62

2.53

0.37

66

Y

MX-053

No Significant Values 

N

MX-054

428.00

429.00

1.00

1.21

0.28

0.05

13

N

MX-055

No Significant Values 

N

MX-056

142.10

163.00

20.90

1.26

6.08

0.28

26

Y

includes

142.10

153.00

10.90

1.71

8.51

0.37

35

Y

and

153.00

161.50

8.50

0.84

3.91

0.20

16

Y

MX-057

No Significant Values 

N

MX-058

482.20

485.00

2.80

0.40

0.21

0.05

4

N

 

Drill intercepts are estimated to be approximately 70% of the true width

2016 - Drill Collar Locations

HOLE
ID

UTM
Easting

UTM
Northing

Elevation

Depth
 (m)

Azimuth

Dip

MX-064

319634

1704084

671

272

120

-45

MX-065

319557

1704132

674

419

120

-63

MX-066

319632

1704086

671

350

120

-68

MX-067

319643

1704174

671

350

120

-60

MX-068

319523

1704219

673

500

120

-62

MX-069

319645

1704025

675

200

120

-45

MX-070

319596

1704006

674

266

120

-50

MX-071

319556

1704031

672

in progress

120

-62

MX-072

319501

1704159

674

in progress

120

-62

 

Note: Collar coordinates are in UTM WGS84 Zone37N

2015 - 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

1704071

678

356

120

-63

MX-053

319952

1704256

676

215

120

-58

MX-054

319477

1704130

679

503

120

-62

MX-055

320192

1704581

671

128

120

-55

MX-056

319623

1704042

679

209

120

-55

MX-057

319504

1704402

675

620

120

-68

MX-058

319479

1704224

677

637

120

-68

 

Note: Collar coordinates are in UTM WGS84 Zone37N

SOURCE Nevsun Resources Ltd.

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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