Mogoraib / Hambok

Mogoraib / Hambok Highlights

  • Agreement to acquire from Sanu Resources (NGEx) in July 2012
  • 97.4 square kilometers, including the copper-zinc Hambok deposit
  • Open pit potential 16 km southwest of Bisha processing plant
  • Historic indicated and inferred base metal resource estimate at Hambok

Mogoraib / Hambok Overview

The Mogoraib license is 97.4 square kilometers in area and includes the Hambok copper-zinc deposit. The Hambok deposit is located 16 km southwest of Nevsun's Bisha Mine (see Figure to right).

While Bisha does not believe that Hambok is economic as a stand-alone deposit it plans to undertake further exploration on the deposit. With the Bisha plant a short distance away, Hambok could become additional feed for Bisha base metal operations. If additional exploration is successful and base metal reserves are identified, then Bisha may consider increasing capacity when the Bisha plant transitions from copper to zinc in 2015 or 2016.

The Hambok massive sulphide body is a steeply east dipping, lenticular body consisting of a series of lenses. The massive sulphide body extends for over 1,000m along strike, approximately 350m down dip and is up to 75m thick in the center of the lens. Local stringer sulphide vein mineralization lies within the footwall to the massive sulphide mineralization. The main sulphide minerals are pyrite, chalcopyrite, and sphalerite. There is also minor galena, tennantite, and digenite. The distribution of assayed base metal values within the sulphide body shows that the best grades occur at the top, bottom, and edges of the thickest accumulation of sulphides.

Sanu Resources drilled 57 diamond holes and completed 326 down hole surveys and assays for gold, silver, copper and zinc. A geologic model from cross sections outlined the massive sulphide unit and was the basis for a three dimensional mineralized solid for the following historical resource estimate.

3D model - Hambok

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Hambok Historical Resource Estimate within the Mineralized Shell
[Source: NI 43-101 Technical Report, Effective January 23, 2009 (1)]

Indicated
Cut-off Zn % Grade
> Cut-off 		Tonnes >
Cut-off 		Cu (%) Zn(%) Au (g/t) Ag (g/t)
0.75 10,700,000 0.98 2.25 0.20 6.84
2.00 5,100,000 1.12 3.24 0.21 7.81

Inferred
Cut-off Zn % Grade
> Cut-off 		Tonnes >
Cut-off 		Cu (%) Zn(%) Au (g/t) Ag (g/t)
0.75 17,000,000 0.85 1.74 0.19 5.89
2.00 5,100,000 0.96 2.81 0.19 6.20

1. The historic mineral resources estimate set out in the table above have been extracted from NI 43-101 technical report dated January 23, 2009, by Messrs. G. H. Giroux, P Eng. and C. Tucker Barrie, P.Geo., who are qualified persons under NI 43-101. Assumptions in the NI 43-101 report included: (i) metals prices - Cu at $1.30/lb; Zn at $0.79/lb; Au at $675/oz; Ag at $10/oz; (ii) recoveries - Cu at 85%; Zn at 84%; Au at 36%; Ag at 29%, however no metallurgical test work had been performed.

Details and additional notes can be found in the Hambok Technical report filed March 27, 2009 on SEDAR www.sedar.com under Sanu Resources Ltd.

Mogoraib / Hambok Next Steps

  • Mogoraib license part of regional generative exploration program
  • Objective to establish a larger regional land package on which to explore for additional reserves for the Bisha plant
  • Forward work program on Mogoraib / Hambok to be determined