2015 Press Releases

Nevsun Discovers New Massive Sulphide Deposit at Bisha

June 18, 2015

Nevsun Resources Ltd. (TSX:NSU) (NYSE MKT:NSU) (Nevsun or the Company) is pleased to announce assay results from a new massive sulphide discovery at the grassroots Asheli prospect on the Mogoraib River Exploration License located 20 kilometers southwest of the Bisha processing plant.  The Asheli drilling is part of the 2015 Bisha regional exploration program which builds on the highly successful 2014 program.
HIGHLIGHTS

  • New greenfield volcanogenic massive sulphide discovery at Asheli
  • High grade massive sulphide intersections include:
    • MX-052: 2.29% Cu, 4.50% Zn,  0.45 g/t Au, 37 g/t Ag over  22.9 m
      Including 3.67% Cu, 8.04% Zn, 0.68 g/t Au, 50 g/t Ag over 7.4 m and 7.92% Cu, 3.89% Zn, 1.14 g/t Au, 101 g/t Ag over 2.9 m
    • MX-056: 1.26% Cu, 6.08% Zn, 0.28 g/t Au, 26 g/t Ag over 20.9 m including 1.71% Cu, 8.51% Zn, 0.37 g/t Au, 35 g/t Ag over 10.9 m
  • Deposit is associated with highly altered felsic volcanics and is open to expansion
  • Numerous untested geophysical targets along 4 km of similar stratigraphy

Nevsun CEO Cliff Davis commented, “We continue to have excellent results from our exploration programs at Bisha.  The assays reported today demonstrate that the Bisha District hosts numerous deposits like other classic volcanogenic massive sulphide (VMS) camps worldwide.  Our new greenfield discovery at Asheli is exciting in that it shows that the mineralizing systems on the Asheli trend are capable of producing high grade deposits with good thicknesses of massive sulphide.  With over 4 kilometers of untested strike length with similar geology the potential for further discoveries on this trend looks very promising”.

Asheli Prospect
The Asheli area was targeted for the initial drill testing of the over 5 kilometer long Asheli Trend which is characterized by an extensive highly siliceous felsic fragmental unit that has numerous geophysical (airborne VTEM and ground Transient EM (TEM)) anomalies associated with it.  A previous operator of the project had drilled 10 short holes at Asheli targeting surface gossans that contained anomalous gold values (ASD-series of holes).  These drill holes did not intersect any massive sulphide mineralization but did encounter narrow zones with minor chalcopyrite and sphalerite stringers.  Bisha Mining Share Company (BMSC) re-evaluated the area by field mapping and completing a lithogeochemical analysis of the volcanic rocks.  This work defined a 700 meter long zone of highly sericite and chlorite altered felsic volcanic stratigraphy associated with gossan zones enhancing the probability that a VMS deposit was likely to be found in the area.

Hole MX-044 drilled immediately below historical holes ASD-001 and ASD-003 which had tested a surface gold bearing gossan intersected the first indications of a new massive sulphide deposit.  MX-044 returned 8.30 meters of massive sulphide grading 1.44% Cu, 4.00% Zn, 0.37 g/t Au, 27 g/t Ag.  Follow-up drilling in hole MX-052 confirmed the new discovery with 22.90 meters of massive sulphide grading 2.29% Cu, 4.50% Zn, 0.45 g/t Au, 37 g/t Ag and similar results were encountered in hole MX-056 drilled approximately 100 meters above MX-052.  The mineralization is associated with strongly chlorite and sericite altered felsic volcanics.

Chalcopyrite-rich zones in the massive sulphide produce strong borehole TEM responses and these responses are helping to guide the drilling of the deposit by allowing large over 100 meter step-outs in the initial drill evaluation.  The zone remains open to expansion in a number of directions.    
The Asheli discovery highlights the prospectivity of the Asheli Trend.  With only 1 kilometer of the trend drill tested during this first phase of exploration and an additional 4 kilometers that has never been drill tested and having similar geology, the likelihood of further discoveries is high. Rainy season begins in mid-June and will require further work to be paused until later in the year. 

Regional Exploration Program
The 2015 BMSC regional exploration program is currently focused on three main areas:  expansion of the Harena deposit at depth and along strike; exploring the perimeter of the Bisha deposit at depth and along strike; and, evaluating regional targets on the Mogoraib River License at Asheli, Aderat and Tekewuda.  Systematic surface and borehole TEM surveys in combination with geological and lithogeochemical modeling is being used to successfully guide the exploration effort.

Quality Assurance                                                           
A Quality Assurance/Quality Control program was part of the sampling program for the Asheli work.  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.

Drilling intercept lengths only are reported in the tables and text below.

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

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 costs or required repairs to the copper floatation plant; or (x) 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, 2014, 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, 2014, 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

About Nevsun Resources Ltd.
Nevsun Resources Ltd. is a Vancouver-based mining company with an operating mine in Eritrea.  Nevsun’s 60%-owned Bisha Mine ranks as one of the highest grade open pit copper mines in the world. Nevsun has a strong balance sheet and future cash flows to grow shareholder value through exploration at Bisha and acquisition of additional mining assets.

NEVSUN RESOURCES LTD.
Cliff T. Davis
President & Chief Executive Officer

For further information, Contact:
Kin Communications
Tel: 604 684 6730
Toll free: 1 866 684 6730
Email: NSU@kincommunications.com
Website: www.nevsun.com

Hole Id From To Length Cu Zn % Au ppm Ag ppm Rock Type
MX-044 202.20 210.50 8.30 1.44 4.00 0.37 27 MSUL
includes 204.50 207.00 2.50 1.56 8.51 0.33 27 MSUL
MX-052 242.00 264.90 22.90 2.29 4.50 0.45 37 MSUL
includes 242.70 250.10 7.40 3.67 8.04 0.68 50 MSUL
and 255.00 264.90 9.90 1.99 3.38 0.36 39 MSUL
and 242.70 245.60 2.90 7.92 3.89 1.14 101 MSUL
and 259.90 261.80 1.90 5.62 2.53 0.37 66 MSUL
                 
MX-056 142.10 163.00 20.90 1.26 6.08 0.28 26 MSUL
includes 142.10 153.00 10.90 1.71 8.51 0.37 35 MSUL
and 153.00 161.50 8.50 0.84 3.91 0.20 16 MSUL

Figure 1. Asheli - Drillhole Location Map


 Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058

Figure 2. Asheli Section 10300

Figure 3. Asheli Section 10400

Figure 4. Asheli Longitudinal Projection (Looking Northwest)


Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058

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 1704068 677 356 120 -63
MX-053 319953 1704255 675 215 120 -58
MX-054 319476 1704126 681 503 120 -62
MX-055 320192 1704582 671 128 120 -55
MX-056 319623 1704042 679 209 120 -55
MX-057 319503 1704400 677 600 120 -68
MX-058 319478 1704222 677 600 120 -68

Note: Collar coordinates are in UTM WGS84 Zone37N
Assays are pending for holes MX-041 - 043; MX-045 – 051; MX-053 – 055; MX-057 - 058