Timok project: Updated drilling results

Highlights 

• 2.93% Cu and 2.54g/t Au (4.71% Cu equivalent) over 27 m starting at 396 m in TC170189.
• 3.1% Cu and 0.8g/t Au (3.66% Cu equivalent) over 18 m starting at 569 m in TC170182R.
• 3.91% Cu and 1.61g/t Au (5.04% Cu equivalent) over 7.5 m starting at 474 m in TC170188R.
• Follow-up exploration electromagnetic surveying and drilling in 2018.
• Cu equivalent calculated as 1g/t Au = 0.7% Cu.
• Intersections estimated to be approximately 50-95% of true width.

Drilling has intersected new high-sulfidation epithermal (HSE or Upper Zone-style) copper-gold mineralisation 500 m to the east of the Upper Zone deposit at Timok.  Mineralisation occurs over a 250 m by 250 m area which is similar in plan size to the Timok Upper Zone. The new zone of mineralisation has similar characteristics to the Upper Zone with massive, semi-massive and disseminated mineralisation that is dominated by pyrite with lesser covellite and energite.  Exploration drilling will continue in 2018 aided by downhole electromagnetic surveying and will focus on expansion of this new zone of mineralisation.

CEO of Nevsun, Peter Kukielski, commented: "The assay results reported today are part of the 2017 exploration programme for new Timok Upper Zone style mineralisation on the license covering the Upper and Lower Zone projects. While the quantum of this new discovery is still unknown, mineralisation of a similar tenor could be processed at the Timok Upper Zone mill, further enhancing the already stellar project economics. 

These results demonstrate the tremendous upside potential of the Timok project area for additional new discoveries. At the Bor deposits 5 km to the north, approximately144 million t of HSE mineralisation was mined from 27 separate bodies."

Detailed drill results, sections and a plan map of drill hole locations are attached to this news release.  Hole TC170189 is a vertical Lower Zone hole and does not represent true width.  The other reported holes, suffixed with R, are angled regional exploration holes targeting true width.

Geology of the Timok Upper Zone

The HSE mineralisation in the Upper Zone comprises pyrite-covellite-enargite bearing massive, semi-massive and hydrothermal breccia matrix sulfides that transition to vein and stockwork dominated sulfides at depth. Mineralisation is hosted by a strongly advanced argillic altered volcanic and volcaniclastic andesite sequence. The HSE mineralisation forms a single coherent zone at depths ranging from 400 to over 800 m below surface and underlies fresh andesite and Upper Cretaceous sediments. Pyrite is the dominant sulfide mineral and covellite the principal copper mineral with lesser enargite, bornite and chalcocite occurring in veins, hydrothermal breccias and disseminations. Gold correlates with the copper sulfides and occurs within the associated pyrite. 

Read the article online at: https://www.globalminingreview.com/exploration-development/17012018/timok-project-updated-drilling-results/