Nevada Copper Corporation announced additional step out drill results from its 100% owned Pumpkin Hollow Property located near Yerington, Nevada. The drill holes reported below represent results from the on going 50,000 meter step-out and expansion drilling program. To date 85 holes totaling 44,000 meters have been drilled. Two exploration drill rigs are currently active at the Pumpkin Hollow project. Additional drill results will be released as they become available.
On February 6th 2012, Nevada Copper SEDAR-filed a National Instrument 43-101 Technical Report Feasibility Study for the Pumpkin Hollow Copper project based on a mineral resource developed from drilling results to October 2010. Drilling results since October 2010 which have been extremely positive will be incorporated into an updated mineral resource to be released in July 2012. From this updated resource, a new mineral reserve and related mining plans will be developed as part of a feasibility study update, targeted to be released in October 2012. The updated feasibility study will also incorporate the benefits of magnetite recovery and sales from the project's iron magnetite resource. The dual benefits of the iron resource and the anticipated expansion of the project's copper reserves are expected to have a positive impact on already favorable project economics.
The drill results reported below represent holes drilled in the open pittable Western deposits: five holes drilled on the edges of the North deposit and two holes between the North and South deposit. The holes have intersected new mineralization within or just outside the outside the current NI 43-101 Feasibility Study ultimate open pit limits.
Drilling along the southwest edge of the North deposit, Drill hole NC11-51 intersected mineralization at the boundary of the current designed pit, several zones were intersected, the largest zone, 470 feet, 407 feet true thickness grading 0.73% copper. Additional step out drilling continues in this area and still remains open in several directions.
Drill hole NC11-47 was drilled in the northeast sector of the North deposit where multiple zones of mineralization were intersected. The mineralized zones are just outside and within the present ultimate pit limit. Mineralization along the northeast border remains open and follow up drilling is in progress.
Drill hole NC11-41, 42 and 46 targeted the mineralization along the southeastern portion of the North Deposit and drill hole NC11-44 along the southwestern portion of the deposit. Mineralization continues to be intersected. Drilling continues to extend and confirm the continuity of mineralization along the southern border of the North deposit.
Drilling continues to intersect mineralization between the North and South deposits. Drill holes NC11-40; NC11-45; and NC12-02 all intersected mineralization. Drill hole NC11-40 intersected, 191 feet, 146.3 feet true thickness grading 0.25% copper. The mineralization remains open and additional drilling is planned.
Mr Gregory French VP senior project manager of Nevada Copper Corporation said that "Drilling continues to focus on expanding mineralization along the edges of the open pit deposits and expanding the mineralized zones previously discovered between the North and South open pits. In addition to finding mineralization just outside the current Feasibility Study open pit limits, drilling has also encountered new mineralization within the pit boundaries in areas previously modeled as waste. We believe the continued success of the expansion drilling suggests that the North and South pits will eventually merge, with positive implications for lowering strip ratios, improving overall mining efficiencies and lowering costs."
Source - Nevada Copper Corporation
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