|
Updated Resource
Statement for the Bisha Deposit in Eritrea
January
10, 2006
UPDATED RESOURCE STATEMENT FOR THE BISHA DEPOSIT IN
ERITREA
Nevsun Resources Ltd (NSU-TSX and AMEX) (“The
Company”) is pleased to announce an updated
independent resource estimate for the Bisha
volcanogenic massive sulphide deposit in
Eritrea. The 2005 Bisha Resource Statement
will be incorporated into the Final Bisha
Feasibility Study.
A scoping study on the Bisha deposit, utilizing
the 2004 resource statement, was released by
AMEC Americas Limited (“AMEC”) in December
2005. The robust economic results of this
Bisha Scoping Study were released to the
public on
December 9th, 2005.
A 43-101 Technical Report and Preliminary
Assessment for the Bisha Project was filed
on
December 30, 2005 and can be viewed on
www.nevsun.com.
Highlights:
The noteworthy improvements between the 2005
Bisha Resource Statement (Table 1) and the
October 2004 Bisha Resource Statement are:
a)
The addition of the measured resource
category.
b)
An 8% increase in gold grade within the
measured and indicated categories of the
oxide layer and a 4% increase in the gold
metal content to bring the total gold in the
measured and indicated category to 1.084
million ounces.
c)
A 14% increase in copper grade within the
measured and indicated categories of the
supergene copper horizon and a 12% increase
in copper metal content to bring the total
supergene copper in the measured and
indicated category to 655.87 million pounds.
d)
A 2% increase in zinc grade within the
measured and indicated categories of the
primary Zn (>2.0% Zn) body and a 4% increase
in the zinc metal content to 1.74 billion
pounds.
e)
A 100% increase in tonnage in the inferred
category to 11.726 million tonnes from the
previous 5.85 million tonnes.
f)
Overall measured and indicated Cu resources
in the supergene and primary horizons now
stands at 1,005 million pounds.
g)
Overall Zn resources (>2%) in the measured
and indicated primary horizons now stands at
1,956 million pounds
h)
The inferred resources category now contains 1.38 billion
pounds of Zn and 235 million pounds of Cu.
Table 1: 2005 Bisha Resource Statement
|
Category |
Cut-off |
Tonnes
(000's) |
Au g/t |
Ag g/t |
Cu% |
Zn% |
Au
m oz |
Ag
m oz |
Cu
m lbs |
Zn
m lbs |
|
|
Measured |
|
|
|
|
|
|
|
|
|
|
|
|
Oxides |
0.5 g/t Au |
764 |
6.26 |
27.8 |
0.11 |
0.10 |
0.15 |
0.68 |
|
|
|
|
Supergene Cu |
0.5% Cu |
844 |
0.77 |
43.6 |
5.03 |
0.24 |
0.02 |
1.18 |
93.55 |
|
|
|
Primary Zn |
2.0% Zn |
320 |
0.84 |
68.5 |
1.11 |
12.29 |
0.01 |
0.70 |
7.83 |
86.66 |
|
|
Primary |
2.0% Zn |
4 |
0.69 |
22.5 |
0.67 |
2.17 |
0.00 |
0.00 |
0.05 |
0.17 |
|
|
Primary |
0.5%Cu
<2.0% Zn |
87 |
0.63 |
24.2 |
0.65 |
0.90 |
0.00 |
0.07 |
1.24 |
1.72 |
|
|
Total |
|
2,018 |
|
|
|
|
|
|
|
|
|
|
Indicated |
|
|
|
|
|
|
|
|
|
|
|
|
Oxides |
0.5 g/t Au |
4,036 |
7.17 |
30.7 |
0.08 |
0.07 |
0.93 |
3.98 |
|
|
|
|
Supergene Cu |
0.5% Cu |
6,660 |
0.71 |
30.9 |
3.83 |
0.10 |
0.15 |
6.61 |
562.32 |
|
|
|
Primary Zn |
2.0% Zn |
8,256 |
0.76 |
59.2 |
1.06 |
9.07 |
0.20 |
15.70 |
192.93 |
1,650.80 |
|
|
Primary |
2.0% Zn |
1,659 |
0.75 |
31.4 |
0.79 |
3.09 |
0.04 |
1.68 |
28.89 |
113.02 |
|
|
Primary |
0.5%Cu
<2.0% Zn |
4,657 |
0.67 |
33.4 |
1.16 |
1.01 |
0.10 |
5.00 |
119.11 |
103.70 |
|
|
Total |
|
25,268 |
|
|
|
|
|
|
|
|
|
|
Measured &Indicated |
|
|
|
|
|
|
|
|
|
|
|
|
Oxides |
0.5 g/t Au |
4,800 |
7.02 |
30.2 |
0.09 |
0.08 |
1.084 |
4.66 |
|
|
|
|
Supergene Cu |
0.5% Cu |
7,503 |
0.72 |
32.3 |
3.96 |
0.12 |
0.173 |
7.79 |
655.87 |
|
|
|
Primary Zn |
2.0% Zn |
8,576 |
0.76 |
59.5 |
1.06 |
9.19 |
0.210 |
16.41 |
200.75 |
1,737.46 |
|
|
Primary |
2.0% Zn |
1,663 |
0.75 |
31.4 |
0.79 |
3.09 |
0.040 |
1.68 |
28.95 |
113.18 |
|
|
Primary |
0.5%Cu
<2.0% Zn |
4,744 |
0.67 |
33.2 |
1.15 |
1.01 |
0.10 |
5.07 |
120.07 |
105.53 |
|
|
Total |
|
27,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inferred |
|
|
|
|
|
|
|
|
|
|
|
|
Oxides |
0.5 g/t Au |
60 |
2.85 |
17.5 |
0.03 |
0.02 |
0.01 |
0.03 |
|
|
|
|
Supergene Cu |
| 
