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July 24, 2012
06:33 EDTNSUNevsun Resources reports increased base metals reserves
Nevsun Resources announced new increased base metal Canadian National Instrument 43-101 compliant mineral resources and reserves estimates at its 60%-owned Bisha Mine in Eritrea. Expressed as contained metal, the copper reserves estimate is 6% higher and the zinc reserves estimate is 38% higher as of May 31 compared with the previous reserves estimate effective date January 1, 2011. Management will hold a conference call on Tuesday, July 24 to discuss the results. Total mineral reserves estimate consists of 26.5M tonnes with the oxide portions grading 5.79 gram per tonne, or g/t, gold for a total of 167,000 troy ounces of gold, the supergene portions grading 4.09% copper for a total of 579 million pounds of copper, and the primary portions grading 1.09% copper and 6.33% zinc for a total of 462M pounds of copper and 2,680 million pounds of zinc respectively. A tabulation of total mineral resources and mineral reserves by classification is appended at the end of this news release.
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