Category Archives: Shaft Progress

NEWS RELEASE

TSX: NCU

NEVADA COPPER INTERSECTS 462 FEET OF 0.64% COPPER

 September 10, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide a project update and announce the remaining results of its first phase of diamond drilling on the North and South open pit deposits at the Company’s 100% owned Pumpkin Hollow project (“the Project”) located near Yerington Nevada.

Project Development Update

With the recent achievement of a fully-permitted, shovel-ready project and a feasibility study in hand, the Company is now reviewing various financing and development alternatives. On the financing front, a number of project finance banks have expressed interest in leading or participating in a large debt financing and the substantial mobile equipment fleet has attracted the interest of the major equipment lessors.  A large smelter has also expressed interest in a long term concentrate purchase contract that could attract government loan guarantees and result in longer loan term and lower financing costs.  On the project delivery front, the Company has been contacted by numerous engineering firms regarding EPCM work.  In light of the current lack of work in mine construction, there are good opportunities for soliciting lump sum bids and cost savings in major areas of project capital. We are also examining opportunities for cost reductions and optimization in the flow sheet and process plant. While the foregoing activities are proceeding, the Company has scaled back unnecessary expenditures at the project.

Open Pit Drilling Results

The Company has successfully completed the first phase of a multi-phase Open Pit drilling program with results from the final six drill holes.  The holes were drilled in the North and South deposits as well as the Connector zone.  All holes have been successful in intersecting copper mineralization.  The program was designed to expand open mineralization and convert material currently classified as waste, into measured or indicated categories. Twenty five holes were completed and 4 holes pre-collared for a total of 36,400 feet (11,100 meters).

The highlights of the drill program include:

  • Drilling was very successful in expanding mineralization within the core area of the North pit where material classed as waste was converted into mineral resources. One of the holes, NC15-04 intersected multiple zones of mineralization totaling over 300 meters (1,000 feet);
  • Mineralization was expanded and remains open along the western and eastern edges of current North pit;
  • The drilling shows that the shallow high grade zones in the North pit can be expanded further. NC15-16 intersected a shallow zone grading 1.29% copper over 38.7 meters (126.8 feet), 37.6 meters true thickness;
  • Mineralization continues to expand in the Connector zone between the North and South pits with NC15-13 intersecting 63.9 meters (209.5 feet) @ 1.39% copper, true thickness;
  • Shallow and down dip mineralization in the South deposit was expanded and remains open. The drilling also converted waste to mineralized material;
  • New mineralization was found in the McConnell Canyon Formation. This is the first time that copper mineralization has been found on the property in this older geologic unit, and this opens up additional exploration possibilities; and
  • Additional drilling is warranted as mineralization remains open along the edges of the deposits. The second phase of drilling will target the expansion of these zones.

NC15-16 was drilled in the center of the North deposit and was successful in converting waste and inferred material where drilling was lacking in the deeper parts of the deposit. The hole also encountered a much thicker shallow high grade zone than in adjacent holes, intersecting 38.7 meters (126.8 feet @ 1.29% Cu), 37.6 meters true thickness. This was within a larger zone of 140.9 meters (462.2 feet @ 0.64% Cu), 135.2 meters true thickness.

Drill holes NC15-22 and NC15-23 are located in the Connector zone between the North and South pits.  NC15-22 intersected multiple zones of lower grade mineralization that correlate well with adjacent holes. Mineralization is still open and additional holes are planned.

 Three holes, NC15-14, 17 and 21, were drilled in the South deposit. NC15-17 was successful in expanding the down dip extension of the deposit by intersecting multiple zones of mineralization within the design pit.  NC15-14 was a follow up of NC15-02 and intersected 43.2 meters (141.8 feet @ 0.51% Cu), 35.4 meters true thickness. This mineralization opens up a new target on the property hosted within the McConnell Canyon Formation, stratigraphically below our current host units. Possible follow up drilling in the new host rock is under review.

Metallurgical Drilling: South Pit

In July, 2015 the Company also completed a metallurgical drill program consisting of 8,500 feet (2,600 meter) in the South open pit area that was primarily to obtain additional samples for iron metallurgical testwork. The assay results however also contained several notable high grade copper intersections, including 70.1 meters (230 feet) 57.4 meters true thickness grading 1.49% copper within a broader zone of 136.6 meters (448 feet) 119.9 meters true thickness grading 1.0% copper (see July 15, 2015 News Release).

Greg French, Vice President of Project Development & Exploration, commented, “The Open Pit drill program has proven to be very successful. Drilling continued to intersect and expand mineralization within, and adjacent to, the current pit limits. This also included expanding mineralization in the Connector zone which is expected to improve future pit designs.

 “In addition to expanding mineralization, several of the drill holes intersected shallow high grade mineralization thicker then adjacent holes. A good example is NC15-16 which intersected 38.7 meters (126.8 feet) averaging 1.29% copper thicker then adjacent hole N92-04 at 12.3 meters (70 feet) at 1.36% copper. Additional expansion in this area will have a positive impact on the mining grades in the early years.

 “The results from the recent program will be incorporated into the geological model which will have a positive effect on the measured and indicated classes of mineralization. It is evident that additional drilling is warranted as we continue to expand mineralization in the Connector zone, continue to expand open mineralization along the edges of the pit design, and continue the conversion of internal waste into mineral resources.  These areas of new mineralization are expected to have a positive impact on future pit designs by expanding our proven and probable mineral reserves and lowering strip ratio and related mining costs.”

The tables below summarize the final assay results.

 

  Hole #   From   To   Length True Length   Length   Cu   Gold   Silver Cu Equiv.*
(m) (m) (m) (m) (ft) % (g/t) (g/t) %
NC15-14 82.3 88.4 6.1 5.0 20.0 0.14 0.027 1.4 0.16
284.4 327.6 43.2 35.4 141.8 0.51 0.084 3.8 0.57
NC15-16 115.8 256.7 140.9 135.2 462.2 0.64 0.062 1.9 0.68
including 121.9 160.6 38.7 37.6 126.8 1.29 0.123 3.9 1.37
274.6 314.5 39.9 38.5 131.0 0.18 0.023 0.7 0.19
371.6 388.0 16.4 16.4 53.7 0.18 0.021 0.9 0.19
404.9 414.5 9.6 9.6 31.7 0.22 0.021 1.0 0.23
448.6 459.6 11.0 11.0 36.3 0.20 0.023 0.8 0.21
513.5 519.7 6.2 6.2 20.2 0.47 0.047 1.5 0.50
NC15-17 239.4 252.1 12.7 10.4 41.6 0.23 0.019 0.6 0.24
322.2 350.5 28.3 23.2 92.8 0.27 0.038 0.4 0.29
NC15-17 399.0 433.4 34.4 31.6 113.0 0.35 0.049 1.3 0.38
441.8 452.2 10.4 8.5 34.1 0.22 0.051 0.9 0.25
463.4 496.8 33.4 27.3 109.5 0.21 0.034 0.8 0.23
NC15-21 176.4 185.4 9.0 9.0 29.4 0.24 0.004 0.6 0.25
NC15-22 214.9 220.6 5.7 5.7 18.7 0.20 0.019 0.8 0.21
227.2 246.4 19.2 19.2 63.2 0.21 0.014 0.7 0.22
266.1 311.8 45.7 45.7 150.0 0.18 0.022 0.7 0.19
340.2 359.1 18.9 18.9 62.0 0.25 0.028 0.6 0.27
NC15-23 149.2 155.0 5.8 5.8 19.0 0.15 0.012 0.6 0.16

* Cu Equiv. used Cu $3.00, Au $1,200 and Ag $18; recoveries 89.3%, 67.3% and 57.3% respectively.

 

Cross-sections showing recent drill hole results in the open pit areas are shown below:

12

 

A plan map showing drill hole locations is shown below:

3

 Underground Drill Program

Two drills are currently working underground at the 1,900 foot production level. Ten holes will be drilled in the first phase for approximately 10,000 feet. The program consists of delineation and development drilling which will focus on further enhancing the high grade zones within the current mineral reserve, especially in areas planned for mining in the early years. Assays will be posted as results are received.

Management believes the program has the potential to improve the copper production grades in the early years and for continued expansion of mineralization, which remains open in several directions. Detailed geotechnical data is also collected for refining mine designs.

Additional Information

The Project, which is located entirely on private land near Yerington Nevada, is 100%-owned by Nevada Copper, and fully permitted for construction and operations.  The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounces of gold and 27.6 million ounces of silver (see News Release dated May 28, 2015 for mineral reserve tonnages and grades).

The Company continues to advance its project financing options and expects that its fully-permitted status, and continued exploration success, will further enhance financing opportunities.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

 

NEVADA COPPER CORP.

  

Giulio T. Bonifacio, President & CEO

 

Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning:  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

 Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

 The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

For further information call:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

Nevada Copper Pumpkin Hollow Project hosted a Public Presentation on July 22

Pumpkin Hollow Project staff met with the local community on July 22, 2015 at 6 PM in the Pioneer Crossing Convention Center for an update on the progress of the Project and revised feasibility study.  Tim Dyhr, Vice President of Environment & External Relations gave a PowerPoint presentation full of updates and information on the Pumpkin Hollow Project with a Q&A session to an audience of over one hundred (100) people.  Seven (7) station tables were set up with Nevada Copper managers and staff to answer questions regarding; Mining, Engineering & Construction, Procurement, Safety, Environment, Processing and Geology.

Key accomplishments to date include:

  • Completed production headframe and hoist
  • Completed 24-foot diameter production-sized shaft to 1900 feet below ground
  • Developed 500+ feet of underground drift on the 1900 haulage level
  • Commenced underground drilling from two stations on the 1900 level
  • Installed electrical substation, ventilation fans, dewatering pumps and other underground infrastructure in the 1900 level
  • Resumed surface drilling in the two open pit zones of the project
  • Completed the “Integrated Feasibility Study” for open pit and underground mining operations with a single 70,000 ton per day processing facility (concentrator) which included;
  • Added drill results from drilling not included in the previous feasibility studies
  • Added improvements to construction, mining and processing

Tim Dyhr pointed out the tasks and steps the Pumpkin Hollow Project must first complete before production can begin:

  • Finalize the land conveyance and state permitting
  • Secure financing for the project
  • Complete the main production shaft to 2,160 feet below the surface
  • Sink a second ventilation and emergency egress shaft
  • Develop the underground mine access drifts
  • Construct processing facilities
  • Construct water, power and road access, as well as shops and offices
  • Recruit and train a workforce for mining and milling operations
  • Obtain and assemble mine shovels, excavators and haul trucks and other equipment for mining
  • Initiate underground and open pit mining

A Safety Award “shout out” was also announced by Tim Dyhr.

Cementation, USA, Nevada Copper’s underground shaft sinking contractor, tied for first (1st) place in the Nevada Mining Association 2015 Safety Awards in the ‘Safety, Contractors’ category.   Nevada Copper, the Pumpkin Hollow Project also tied for first (1st) place in the Safety Underground Category for mine developments up to 99 employees.

http://www.nevadamining.org/safety/2015-safety-awards-release.pdf

TDyhrPres20150722

Tim Dyhr, Vice President of Environment and External Relations for Nevada Copper gives an informational updated presentation to the public.

NCU-PublicPres20150722

Greg French, Vice President Exploration and Project Development and Project Geologist, Korin Carpenter answer questions about geology and exploration at Pumpkin Hollow.

Greg French, Vice President of Exploration and Project Development and Project Geologist, Korin Carpenter answer questions about geology and exploration at Pumpkin Hollow.

The presentation also highlighted the extensive environmental studies that have been undertaken to design and operate the project in order to meet high environmental standards, as well as the environmental permitting, management and monitoring work that is ongoing to protect surface water and groundwater. Detailed reclamation plans and performance bonding (to ensure the safe and professional closure and reclamation of the mine upon completion of mining) is required before the project can be built.  These plans must be reviewed every three years by the Nevada Division of Environmental Protection.  The Yerington land conveyance, as directed by Congress, will also provide distinct opportunities to convert, rather than demolish, mine facilities such as buildings, power lines, water supply and wastewater treatment, and roads for other economic uses upon completion of mining.

MW12-WaterSample20150716rkm

Environmental Specialists Tim Leedy and Mark Hanley conduct groundwater sampling and monitoring seven days a week. Four people are presently employed at Pumpkin Hollow to manage the environmental aspects of the project including a network of 25 monitoring wells.  As the project transitions to production, additional management and monitoring will be conducted on air, water, mine rock, tailings and waste to insure that environmental resources are protected.

NEWS RELEASE

TSX: NCU

 

NEVADA COPPER CONTINUES TO EXPAND OPEN PIT MINERALIZATION INTERSECTING 381 FEET GRADING 0.53% COPPER

 

June 24, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce additional results of diamond drilling on the North and South open pit deposits and provide a project update at the Company’s 100% owned Pumpkin Hollow project located near Yerington Nevada.

Open Pit Drilling Results

Drilling continues to expand the open extent of mineralization in the North and South open pit deposits including areas that may have economic copper mineralization but are currently categorized as inferred, or waste, due to limited drill data. Phase 1 of the drill program, which started in late February, has been completed. Currently 21 holes have been completed for a total of 34,600 feet (10,600 meters).  The results for 10 holes have previously been released.  This news release provides the results for five drill holes bringing the total holes released to 15.  The results for the remaining 6 holes are pending.

The holes were drilled in the North and South deposits and the Connector zone between the deposits. Drill holes NC15-08 and NC15-10 were drilled in the Connector zone. NC15-11 was drilled in the center of the North deposit where mineralization was expanded and copper grades were higher than the adjacent holes. Drill hole NC15-15 expanded mineralization within the current pits limits on the north edge of the North deposit and NC15-12, drilled in the South deposit, expanded mineralization to the north toward the Connector zone.

Drill holes NC15-08 and NC15-10 are located in the Connector zone between the North and South open pit deposits. Both holes intersected narrow zones of mineralization.

Drill hole NC15-11, located in the center of the North deposit, intersected multiple zones of mineralization in the center of the deposit. The largest zone, 116.3 meters (381.5 feet) true thickness averaging 0.53% copper is higher grade and thicker than adjacent holes.  The new lower zones below this intercept fill in areas where drill density was limited and the material was previously classified as waste or inferred. Additional drilling is currently under review.

Drill hole NC15-12 which is located on the northern edge, and within the designed South pit limit, intersected multiple zones of mineralization. The highest grade was 50.6 meters (166.0 feet @ 0.75% Cu), 38.8 meters true thickness. The mineralization is continuous with adjacent holes and remains open. Additional off set holes are planned.

Drill hole NC15-15 is located along the northern edge and within the designed North pit limit. The mineralization is continuous with adjacent holes and is open to the north.

Greg French, Vice President of Project Development & Exploration, commented, “We continue to be very pleased with our drilling results to date within the design limits of the Western open pit deposits. Mineralization is expanding into areas currently classified as waste or inferred material. With the current breakeven cut-off for the open pits at 0.16% copper, the addition of this mineralization should have a positive effect on mine design and strip ratios. Drill hole NC15-11 has intersected mineralization projected below previous shallow drilling, as was the case for the previously-released drill hole NC15-04. These lower zones will expand mineralization in the center of the North deposit. The thickest intercept, 381 feet averaging 0.53% copper not only expanded mineralization, but is higher grade than adjacent holes.”

The table below summarizes the results received.  Assays for the remaining drill holes will be posted as results are received.

 

 Hole #  From  To  Length True Length  Length  Cu  Gold  Silver Cu Equiv.*
(m) (m) (m) (m) (ft) % (g/t) (g/t) %
NC15-08 449.0 458.7 9.7 9.7 32.0 0.18 0.016 0.9 0.19
NC15-10 509.9 516.0 6.1 6.1 20.0 0.21 0.025 1.1 0.23
NC15-11 204.2 214.0 9.8 32.0 32.0 0.42 0.007 0.8 0.43
224.6 243.8 19.2 63.0 63.0 0.39 0.009 1.1 0.40
251.0 264.3 13.3 43.5 43.5 0.32 0.021 1.0 0.33
293.7 410.0 116.3 381.5 381.5 0.53 0.048 2.1 0.56
425.2 448.1 22.9 75.0 75.0 0.25 0.044 1.4 0.28
457.2 483.7 26.5 87.0 87.0 0.40 0.049 1.8 0.43
NC15-12 114.3 132.4 18.1 13.9 59.5 0.64 0.421 1.8 0.84
157.1 221.0 63.9 49.0 209.5 0.34 0.038 0.8 0.36
277.7 308.5 30.8 23.6 100.9 0.22 0.016 0.6 0.23
346.2 372.0 25.8 19.8 84.5 0.17 0.014 0.5 0.18
406.5 424.7 18.2 13.9 59.8 0.28 0.031 1.1 0.30
451.7 502.3 50.6 38.8 166.0 0.75 0.079 2.0 0.80
NC15-15 244.7 269.1 24.4 17.3 80.0 0.26 0.042 1.2 0.29
381.0 386.5 5.5 3.9 18.0 0.17 0.011 0.5 0.18

 

* Cu Equiv. used Cu $3.00, Au $1,200 and Ag $18; recoveries 89.3%, 67.3% and 57.3% respectively.

A map showing drill holes location is shown below:

DrillMap20150623

Underground Drill Program

The underground drilling program began during the last week in May.  This program will consist of up to 26,000 feet (7,900 meters) of delineation and development drilling which will focus on further enhancing the high grade zones within the current mineral reserve, especially in areas planned for mining in the early years.

Management believes the program has the potential to improve the copper production grades in the early years and continue to expand mineralization which remains open in several directions. This drilling will also provide additional geotechnical data for updated mine designs.

Iron Concentrate Study

Drilling in the South pit area for the bulk sample for iron metallurgical test work has been completed and assays are pending.  On April 23, 2015, the Company announced a Memorandum of Understanding (“MOU”) with a large multi-national steel producer to assess opportunities to exploit the large Pumpkin Hollow iron resource. The assessments would include drill sampling consisting of six holes for a total of 8,500 feet (2,600 meters). Drill results from this drilling will be released as they become available and the results will report both iron and copper assays.

Additionally mine planning, engineering studies and metallurgical work will also be completed. These studies will determine if a byproduct magnetite (iron oxide) stream from the copper tailings at a future Pumpkin Hollow concentrator would be suitable as feed for downstream iron ore processing for use in steelmaking.

Permitting and Land Acquisition Update

The Federal land acquisition administrative process is progressing as planned, with land surveying and official land records maps completed, and official deeds and land valuation appraisal 90% complete.

State permitting activities for the Integrated project are continuing and are now in the final phase, with issuance of all key construction and operating permits expected by August. Subject to project financing, commencement of project construction would then be able to proceed on closing of the land acquisition from the Bureau of Land Management.

 Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

 

NEVADA COPPER CORP.

  

Giulio T. Bonifacio, President & CEO

 

Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management’s expectations of completion of the permitting and land acquisition by Q3-2015,  expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

 Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

 The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

For further information call:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

lyon-country-lands-billNEWS RELEASE

TSX: NCU

NEVADA COPPER LAND PERMITTING AND LAND TRANSFER UPDATE

 May 13, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide an update on permitting, land transfer and conveyance at its 100% owned Pumpkin Hollow Project located near Yerington, Nevada.

Permitting

With completion of the land transfer and conveyance, all project activities will be regulated under Nevada State and local regulations and requirements.  Permitting for the underground mining and processing component of the project has been completed, and shaft sinking and underground development have been proceeding pursuant to the issued air, water, reclamation, including bonding, and other permits.

As of May 8, 2015 all permit applications necessary for the large open pit and underground Integrated Project have been submitted and are progressing according to plan.  This permitting involves modification of our existing State air pollution control and reclamation permits to allow for the larger open pit operation and a 70,000 tons/day concentrator. Prior to submission of those applications, Nevada Copper and its representatives have worked closely with the Nevada Division of Environmental Protection to assure that the applications met all State requirements. Modifications to the existing State permits are scheduled to be completed in Q3-2015.

Federal Land Transfer and Conveyance

Since passage by U.S. Congress of legislation (the “Act”) in December 2014 to authorize conveyance of approximately 10,400 acres of land to the City of Yerington (the “City”), Nevada Copper and the City have been working with the Bureau of Land Management (“BLM”) to expedite the land conveyance.  A Congressional decision to convey the lands is not appealable however there are several procedural reviews needed to complete the land conveyance. The BLM and the City have executed various agreements and all parties are working diligently and cooperatively to try to complete the land conveyance in Q3-2015.

Details of the activities and procedural reviews needed to complete the land conveyance are summarized below:

Land Survey, Appraisal and Patents

The BLM, with support from a Certified Federal Surveyor has completed the field survey of lands in the conveyance area, which provides the precise legal description for the deeds and the appraisal.

The Office of Valuation Services, the federal agency responsible for determining valuation, has approved a certified federal appraiser (the “contractor”) and issued appraisal instructions to the contractor. The contractor is expected to complete the appraisal by early June 2015.

The Nevada State Office of the BLM is preparing deed documents for the official conveyance.  Once these are completed a Federal Register Notice is published to notify the public of the closing of the conveyance.

Environmental Reviews

Several federal procedural reviews are needed to complete the land conveyance.  These include:

  • A National Environmental Policy Act environmental review. This relates only to the land being conveyed and is not related to Nevada Copper’s proposed mine operation or any other proposed future use of the land. The draft assessment, which has been completed and been released for public review, is expected to be finalized by early June 2015. The conveyance is nondiscretionary and under the Act the BLM must convey the lands to the City in accordance with the Act.
  • A Phase I Environmental Site Assessment – to identify any hazardous material/waste impacts and environmental conditions that may affect the property conveyance has been completed. The report did not identify any significant environmental hazards and primarily documented the presence of known exploration and historic mining activities.
  • Compliance with the National Historic Preservation Act (“NHPA”). There are no sites identified within the areas of mine development, and based on advice to the City, the BLM and the Nevada State Historic Preservation Office are working on a Memorandum of Agreement (“MOA”) to complete the NHPA review process by June 2015. Once the MOA is signed, the conveyance can be completed.

Tim Dyhr, Vice President of Environment & External Relations, commented, “We are very pleased with the progress and level of effort by the City, BLM and contractors to complete the necessary procedural aspects of the conveyance.  The City is in almost daily contact with the BLM to assure that all necessary resources are available to complete the transfer on a timely basis. The Nevada Congressional delegation is also in regular communication with the BLM to expedite the land transfer. In the meantime, we continue to advance final permitting for the open pit component of the project.”

 

NEVADA COPPER CORP.

 Giulio T. Bonifacio, President & CEO

 Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management’s expectations of completion of the permitting and land acquisition in mid-2015, expectations as to the possible results of the Integrated Feasibility Study when completed, expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

 Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

 The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

For further information call:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

The Pumpkin Hollow Project load haul dump (LHD), also known as a scoop tram, and a jumbo drill were hoisted down the shaft and put to work last week.

The 25,000 lb. LHD truck is a specialized loader manufactured for underground mining.   LHDs are used to load or scoop blasted mine waste rock and ore (known as ‘muck’ in the mining business), into the bucket, and haul it to an ore or waste pass or primary crusher before being hoisted to the surface.

Nevada Copper will be using the LHD to load muck from the lateral drifts (tunnels) under construction and transport it to the shaft.  The muck is then hoisted 1,900 feet up the shaft in buckets to the surface and then placed in a permanent mine rock storage area. The drifts will initially be used to access underground drill stations to further define and expand the boundaries of the mineral deposit. As the mine develops they will be used to access mining areas.  The drifts are 16 feet high by 16 feet wide, designed to eventually accommodate 30-ton underground haul trucks.LHD2

Prior to hauling the muck, the Drill Jumbo drills blast holes in the rock which are filled with explosives and then blasted. A scissor-lift truck has also been lowered down the shaft and will be used to bring down loose material after the blast to make the drift safe.  It will also be used to install the rock bolts and steel mesh that help reinforce the drift’s back (ceiling) and ribs (sidewalls), and to spray shotcrete and other operations.

A typical small jumbo drill

 

NEWS RELEASES

April 23, 2015
Nevada Copper Pumpkin Hollow Project Update


April 23, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce results for an initial three diamond drill holes from the current open pit drilling program and to provide a project update at the Company’s 100 percent owned Pumpkin Hollow project located near Yerington Nevada.

Highlights

  • Initial three drill holes yield strong results from new open pit drill program with particularly pleasing results from two new drill holes in the saddle zone between the North and South pits;
  • Underground drill program from 1,900 foot level to commence in May;
  • New integrated feasibility study results scheduled for release before the end of May;
  • Progress on federal land acquisition progressing according to plan with permitting progressing concurrent with land acquisition; and
  • MOU signed with large international steel company to assess opportunities to exploit Pumpkin Hollow’s significant iron ore resource.

Open Pit Drilling Results
Targeted drilling continues on the open pit deposit with the goals of testing the ultimate extent of the deposits, and identifying areas that may have economic copper mineralization but are currently categorized as waste due to lack of drill data.

The drill program which started in late February currently has three drill rigs on site. The current drill program will consist up to 74,000 feet (22,600 meters) of drilling. The first drill holes were drilled in the North Deposit to follow up open prospective areas identified in early 2013 drilling. Drill hole NC15-02 was drilled along the edge of the South deposit where mineralization was open. The table below summarizes the drilling results received for drill holes NC13-10; NC-15-01 and NC15-02. Assays for the remaining drill holes will be posted as results are received.

Greg French, Vice President of Project Development & Exploration, commented, “The current drill program is focused on the saddle zone mineralization located between the North and South pits and the open and inferred mineralized areas on the edges of the open pit deposits. The initial drill holes reported continue to expand mineralization. NC15-02 drilled along the southern portion of the South Deposit, discovered at shallow depths, a 125.5 meter zone averaging 0.42% copper. Mineralization remains open and the drill hole location in the current pit design is expected to upgrade currently classified waste material in that area.”

Drill hole NC13-10 was drilled in the Saddle Zone between the North and South open pit deposits. The mineralization correlates well with adjacent holes and bottomed in mineralization. This hole finished up a pre-collared hole from the previous 2013 drilling. The lower zone of intersected 62.4 meters (204.8 feet) true thickness averaging 0.27% copper and continues to push mineralization out and should convert mineral classification.

Drill hole NC15-01 also drilled in the Saddle Zone between the North and South deposits intersected two thick mineralized zones that correlate with adjacent holes but with slightly lower grade. The largest zone intersected 103.7 meters (340.3 feet) true thickness averaging 0.23% copper. There are also localized zones of high grade within low grade. The hole expanded mineralization within the present designed pit.

Drill hole NC15-02: South Deposit, intersected several zones of shallow mineralization along the southern edge of the deposit. The upper zones have expanded the existing mineralization. The lower zone 125.5 meters (411.7 feet @ 0.42% Cu), 88.7 meters (291feet) true thickness, is new, as several adjacent holes were only drilled as shallow pre-collars. Drill hole NC15-02 has expanded the mineralization. Follow up drilling for this expanded area and newly discovered mineralization is planned.

Hole # From
(m)
To
(m)
Length
(m)
True Length
(m)
Length
(ft)
Cu
%
Gold
(g/t)
Silver
(g/t)
Cu Equiv*
%
NC13-10 233.2 240.8 7.6 7.6 25 0.18 0.007 1.1 0.19
257.5 267.1 9.6 9.6 31.4 0.48 0.013 2.1 0.50
432.8 495.2 62.4 62.4 204.8 0.27 0.014 1.6 0.29
576.1 591.3 15.2 15.2 50 0.4 0.329 1.7 0.55
685.7 695.8 10.1 10.1 33.2 0.27 0.045 1.1 0.30
NC15-01 402.3 408.4 6.1 6.1 20 0.17 0.012 0.8 0.18
454.2 461.8 7.6 7.6 25 0.17 0.014 0.8 0.18
481.6 585.3 103.7 103.7 340.3 0.23 0.041 1.4 0.26
648.6 688.5 39.9 39.9 131 0.18 0.032 1.1 0.20
701 713.8 12.8 12.8 42 0.5 0.07 2.1 0.54
726.3 732.4 6.1 6.1 20 0.59 0.085 2.1 0.64
NC15-02 80.9 105.9 25  17.7 82.1 0.23 0.04 2.8 0.26
112.3 125 12.7 9.0 41.5 0.19 0.014 1.8 0.21
138.2 263.6 125.5  88.7 411.6 0.42 0.034 1.6 0.44
including  152.4 174.3 21.9  15.5 71.7 1.04 0.1 6.6 1.12

* Cu Equiv using Cu 3.00, Au $1200 and Ag $18; recoveries 89.3%, 67.3% and 57.3% respectively

A map showing drill holes location is shown below:


Underground Drill Program
Underground drilling of the East deposit is expected to commence in May 2015 from drill stations on the 1,900 foot level. The underground drilling program will consist of up to 26,000 feet (7,900 meters) of delineation and development drilling which will focus on further enhancing the high grade zones within the current mineral reserve, especially in areas planned for mining in the early years. This drilling program will also provide additional data for mine development designs while expanding the open mineralized areas.

Management believes that the program has the potential to improve the overall copper production grades especially in the early years while also allowing for expansion of the combined Eastern underground copper reserve boundaries that remains open in several directions.

Integrated Feasibility Study
Significant progress has been made on the Integrated Feasibility Study (“IFS”) with results targeted for release on or before May 28, 2015. The IFS envisages a single, large 70,000 tons/day concentrator with dual sources of mill feed comprising an average of 63,500 tons/day of open pit ore blended with 6,500 tons/day of high grade ore from the Eastern underground deposits. The IFS will incorporate all available current information, including approximately 32,500 feet (9,900 meters) of new drilling data from 2012 and 2013, mine plans, engineering work and updated capital and operating costs for both the open pit and underground operations associated with this development.

Federal Land Acquisition and Permits
Since passage in December of Congressional legislation that authorizes the transfer of federal lands to City and private ownership, Nevada Copper has been fully engaged with the Bureau of Land Management (“BLM”) and the City of Yerington to complete the land conveyance. The necessary agreements between the BLM and the City of Yerington are now in place to allow for the many activities to proceed toward the purchase of approximately 10,400 acres of land under the legislation. These activities include surveying, land valuation, and including compliance of the acquisition with provisions of the National Historic Preservation Act and National Environmental Policy Act. Nevada Copper and its consultants are working closely with the BLM and supplying additional resources to them as necessary to expedite the sale process.

Upon closing of the land conveyance, the City will convey 6,430 acres of private land to Nevada Copper. Adding this acreage to the 1,560 acres of private land that Nevada Copper currently controls, means that the Company will have a total of 7,990 acres (12.8 square miles) available for the large scale integrated open pit and underground mine development.

Permitting of the large open pit and underground integrated project is continuing according to plan. This permitting involves modification of our existing State air pollution control and reclamation permits to allow for the larger open pit operation and a 70,000 tons/day concentrator. Permitting is scheduled to be completed by mid-2015 concurrently with closing of the land acquisition.

Iron Concentrate Study
The Company recently executed a Memorandum of Understanding (“MOU”) with a large multi-national steel producer to assess opportunities to exploit the large Pumpkin Hollow iron resource. Measured and indicated iron mineral resources total 395 million tons grading 32.1% iron using a 20% cutoff, as disclosed in a 43-101 Technical Report filed on SEDAR in 2013. The assessments would include drill sampling, mine planning, engineering studies and metallurgical work. These studies will determine if a byproduct magnetite (iron oxide) stream from the copper tailings at a future Pumpkin Hollow concentrator would be suitable as feed for downstream iron ore processing for use in steelmaking. Other work would focus how mining plans could be modified to deliver additional magnetite in the copper concentrator feed while minimizing loss of copper. Magnetite recovery circuits are not uncommon at copper operations which contain magnetite in their mill feed. Examples are the Candelaria IOCG mine in Chile and Glencore’s Earnest Henry mine in Australia.

Along with low cost power, Pumpkin Hollow has close proximity to rail infrastructure which is important for moving the larger tonnages associated with any future iron ore production. The possibility of adding iron revenues at minimal or no cost has not been factored into any previous feasibility studies, nor in the current IFS to be released in May.

Additional Information
For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons
The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

NEVADA COPPER CORP.

Giulio T. Bonifacio, President & CEO

Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management’s expectations of completion of the permitting and land acquisition in mid-2015, expectations as to the possible results of the Integrated Feasibility Study when completed, expectations as to any future revenues from an possible iron magnetite operation, expectations as to the results of the planned underground and surface drilling programs, as well as the Company’s plans in general at the Pumpkin Hollow Project.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States, other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 17, 2015. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com.

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

For further information call:
Eugene Toffolo
VP, Investor Relations & Communications
Phone: 604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

Minesite20150203A-rkm

NEWS RELEASE

                                                                                                                         TSX: NCU

 

Nevada Copper achieves major MILESTONE

February 26, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that it achieved a major milestone at its Pumpkin Hollow project by way of reaching the 1,900 foot main haulage level at its 24-foot diameter concrete-lined production sized shaft.

A concrete-lined production shaft to the level of the main workings further de-risks the Pumpkin Hollow project and was defined as project milestone in early 2011. During 2012, after the official ground breaking in February, shaft related construction activities included: shaft foundation (“sub-collar”); “pre-sink” to 99 feet; installation of a production-sized hoist and control room; erection of a permanent head-frame; plus related surface facilities. Early in 2012, management made a decision to forego a temporary sinking hoist arrangement and take the additional time to purchase and construct a production-sized hoist, hoist control room and erect a permanent head-frame. This decision is expected to accelerate future project construction activities.

In May 2013 with all facilities in place and operational with the “pre-sink” completed, shaft sinking resumed below 99 feet.  During progress of the shaft towards the 1,900 foot main haulage level, an effective dewatering program was implemented.  This consisted of drilling two fully commissioned dewatering wells (1,500 and 2,070 feet deep), with water disposal by way of eight permitted rapid infiltration basins, and summer agriculture irrigation.

While the 1,900 foot level milestone was delayed from our initial estimate, it was delivered within an acceptable timeframe considering the Company’s decision to purchase a production-sized hoist and erect a permanent head frame.

Nevada Copper will now move forward with approximately 700 feet of lateral development on the 1,900 foot main haulage level and construction of drill stations for purposes of locating and expanding high grade ore to enhance an already high grade profile. The lateral development will also establish key work areas underground for future development, and provide for future access to the East ore zones. Drilling was suspended on the underground deposits in 2011 in view of the then-outlined proven and probable mineable reserves with a view of resuming drilling upon accessing the main haulage level. The current underground drilling program is expected to commence in April and will consist of 26,000 feet (7,900 meters) of drilling.

The shaft is currently within the host skarn related rocks where little or no water is reporting to the bench.  Good ground conditions are expected for the lateral development work.  As lateral development and drilling continues on the 1,900 level, the shaft will be deepened first to 2,050 and then to its final depth of 2,150 feet.  At the 2,050 level, lateral development around the shaft will provide for a station and development to the west and north in Q3-2015.  In addition, a temporary sump will be cut out at the level (which will be used for temporary storage, equipment safety bay, and eventually become the bottom of a waste pass). The lateral development work is the minimum necessary in order to continue sinking the remainder of the shaft, while still allowing for equipment delivery to the 2,050 level for future mine development.

About Nevada Copper

The Company’s advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day underground copper mine development, with the main shaft in construction, and a nearby 70,000 tons/day open pit copper project with permits expected in Q2-2015.  Projected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 220 million lbs./year from the Stage 2 open pit mine.  The project is located near Yerington, Nevada, close to road, rail, and power infrastructure, and with all future water supply requirements met.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

NEVADA COPPER CORP.

  

Giulio T. Bonifacio, President & CEO

 Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management’s expectations of the production shaft reaching the 2,150 foot level, and the timing of the planned lateral development work, expectations as to the results of the planned underground drilling program as well as the Company’s plans in general at the Pumpkin Hollow Project.

 Forward-looking statements or information relate to future events and future performance include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

 Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 25, 2014.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

 The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

For further information call:
Eugene ToffoloVP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

Significant Facts for the number 1776:

Declaration-of-Independence-Day1776

1. Declaration of Independence Day – July 4, 1776

According to popular legend the Liberty Bell rang for the 2nd Continental Congress two hundred and thirty nine years ago, on July 4th, 1776. US Congress proclaimed the Declaration of Independence and independence from Britain.


FreedomTower

2. One World Trade Center

The top floor of the One World Trade Center marks 1,776 feet high, making it the tallest building in the Western Hemisphere by pinnacle height and the third-tallest building in the world.

Click here for a virtual panoramic view.  This view gives a good perception of how deep the Pumpkin Hollow shaft is of 1,776 feet below surface at the mine site.

NY_buildings_diagram_432_Park_Awenue_comparison__with_one_world_trade_ceters_and_empire_state_building_on_architecture_beast_01

The One World Trade Center soars over Lower Manhattan with 104-stories and sits where the twin towers did, not only honoring the 3,000 lives lost in the terrorist attacks of 9/11, but also serving as a reminder of the resiliency and resolve of the American people.


1776-20150206

4. Pumpkin Hollow Shaft Reaches 1,776 feet deep

Recently, the shaft at Pumpkin Hollow reached a depth of 1,776 feet deep.  We believe this is significant and symbolic of the progress that Nevada Copper is making in developing  Pumpkin Hollow Mine.  The shaft is now moving closer to production of copper, a strategically important metal, here in the U.S.

The 24-foot diameter, vertical production shaft will have an ultimate depth of 2,160 feet deep and is being constructed by Cementation USA Inc. for Nevada Copper.

ShaftBriefingRKM20150206

Cementation, Inc., Area Superintendent Tim Goodell briefs Nevada Copper’s Community Relations Coordinator, Rita Menesini about certain specifications on the shaft. In the background is Nevada Copper’s, Pumpkin Hollow Project Safety Manager, Mike Weaver.

CemenationUG- 1976Crew20150206

Cementation underground crew in this picture from left to right is Jose Justo, James Webb, Steve Ramirez, Kyle Kelly and Troy Thorn standing in front of the 1776 shaft depth marker.

 

 

 

 

 

Timeline_Cover_doNotRename43NEWS RELEASE

TSX: NCU

Nevada Copper PUMPKIN HOLLOW project update

 February 10, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to provide an update and summary of project activities for 2015 on its 100% owned Pumpkin Hollow Copper Project (“the Project”), located near Yerington, Nevada.

Highlights:

  • Land conveyance and final permits expected by June:
    • Passage of the Yerington land bill was signed into law by President Obama on December 19,2014 and directs the conveyance of 10,400 acres of Federal land to the City of Yerington within 180 days as prescribed by law;
    • Binding agreements were executed with the City of Yerington on February 9, 2015 to formalize the details of the land conveyance from the City to Nevada Copper;
    • Nevada Copper will acquire private ownership of all Federal land surrounding Pumpkin Hollow which will consolidate the entire Project within a privately held land position where the required permits will be under State jurisdiction and not Federal; and,
    • Receipt of all key State permits for the open pit operation are expected by June by way of revisions to the current Reclamation and Air Pollution Control permits;
  • Integrated Feasibility Study launched – With the passage of the Land Bill and receipt of permits expected by June 2015, the previously announced Stage 2 Open Pit optimization and updated Feasibility Study (see November 4, 2014 News release) has been modified to allow for the inclusion of high grade supplemental mill feed from the East and E2 underground deposits (“Integrated Feasibility Study”);
  • Shaft approaching completion – At the Eastern underground development, the production sized shaft is at a current depth of 1,806 feet – over 95% complete towards the main 1,900 foot haulage level which is expected to be reached in the next few weeks;
  • Open pit and underground drilling programs:
    • 26,000 feet (7,900 meters) of drilling from underground drill stations is expected to commence in May; and,
    • 74,000 feet (22,600 meters) of open pit drilling has commenced.

Giulio Bonifacio, President and CEO, stated: “With successful passage of the Land Bill, and with open pit permits expected by June, Nevada Copper can now consider a large scale project development with a single large concentrator with mill feed from an open pit supplemented by high grade underground ore. We will continue to preserve our development options with respect to a staged development versus a single large integrated project, until such time as we have the results of the Integrated Feasibility Study and can determine our optimal strategy going forward. In either case, first production is targeted for late 2016, early 2017, subject to completion of financing arrangements.

 We are also very excited about the commencement of our open pit and underground drilling programs which will focus on enlarging the high grade zones within the current reserve, especially in areas planned for mining in the early years, and will provide additional data for mine development designs while also expanding the open mineralized areas.

 Federal Land Conveyance and Open Pit Permitting

On December 19, 2014, President Obama signed into law a bill that contained provisions directing the Secretary of the Interior to convey 10,400 acres of Federal lands surrounding the Pumpkin Hollow project to the City of Yerington by June 17, 2015 (180 days is specified in the legislation). With funding provided by the Company, the City will acquire the land and, under our agreements with them, immediately re-convey most of the land to Nevada Copper at no additional cost.

Nevada Copper is working closely with the City of Yerington to advance the Federal conveyancing process and, in expectation of a successful closing in June, is concurrently completing the revisions to the current Reclamation and Air Pollutions Control State permits for a large open pit development, setting the stage for issuance of all key open pit permits by June 2015.  All permits for the underground operation are currently in place.

 In anticipation of closing the land conveyance in June, binding agreements were executed with the City of Yerington on February 9, 2015.  These agreements formalize the funding mechanisms for the acquisition and the obligations of the City to Nevada Copper.

Integrated Feasibility Study

With passage of the Land Bill and no Federal permit requirements, the Company expects receipt of all State permits for a large Stage 2 open pit project in Q2 2015. Early delivery of these open pit development permits strongly suggests reorienting the current engineering work on the open pit feasibility study towards a single, large 70,000 tons/day concentrator with dual sources of mill feed rather than proceeding by way of a staged project (6,500 tons/day Stage 1 underground project followed by a 70,000 tons/day Stage 2 open pit project).  Mill feed will comprise an average of 63,500 tons/day of open pit ore blended with 6,500 tons/day of high grade ore from the Eastern underground deposits.

The previous open pit mining plans for the Stage 2 North open pit demonstrated a production profile with higher- than-average copper grades (0.5% to .6%) in the early years (see 2012 Stage 2 Feasibility Study filed on SEDAR).  The addition of higher grade mill feed (plus 1.75% copper) from the Eastern underground deposits will further improve mill feed grades in the important early production years.  The enhanced mill copper feed grades, coupled with elimination of the capital required for the smaller 6,500 tons/day mill proposed for the standalone Stage 1 underground project, are anticipated to provide better capital efficiency and overall better project economics.

After the Stage 2 Open Pit Feasibility Study was completed in 2013, results from 9,880 meters (32,414 feet) of additional drilling on the North Deposit were received.  In Q2-2014, the Company decided to incorporate these drill results to ascertain if the data would improve the present mine design. In particular, drill hole NC12-34 as previously disclosed in a news release dated September, 13, 2012, on the southwestern edge of the North Deposit ultimate pit intersected 690 feet (210.3 meters), 625.3 feet (190.6 meters) true thickness, grading 1.17% copper, including 150 feet grading 3.8% Another drill hole, NC13-05, disclosed in a news release dated June 17, 2013, along the western edge of the North deposit and not included in the 2013 Feasibility Study, intersected several zones including 125 feet (38.1 meters), true thickness, grading 1.45% copper. The new information resulted in an opportunity to significantly improve the grade profile and reduce mine waste rock quantities by re-evaluating the pit shell in the North Deposit.  Preliminary work to date on the mineral resource calculations and production schedule has demonstrated positive results with respect to the copper grades and copper production in the early years, as well as overall life-of-mine copper grades.

The 70,000 tons/day Integrated Feasibility Study will incorporate all available current information, including new drilling data, mine plans, engineering work and updated capital and operating costs for both the open pit and underground operations associated with this development.  Completion of the Integrated Feasibility Study is targeted for April 2015.

Readers are cautioned that until the results of the Integrated Feasibility Study are available, the implications of the copper grade, production increases, addition of high grade underground ore feed, cost updates on the Project, and the impact on Project economics, cannot be fully determined.

Eastern Underground Deposits: Main Shaft & Lateral Development Plans

The circular 24-foot diameter concrete-lined production sized shaft is currently at the 1,806 foot level – over 95% of the way towards the main 1,900 haulage level.  The shaft continues to progress through dry ground with water inflows controlled by two fully commissioned dewatering wells.

Reaching the 1,900 foot haulage level is expected in the next several weeks.  About 700 feet of lateral development will then commence on this level to establish setup locations for delineation and development drilling, and to provide for future access to the East ore zones. As lateral development continues, the shaft will be deepened to its final depth of 2,160 feet.

Open Pit and Underground Drilling

The East deposit has not been drilled since 2011 and the deposit remains open in several directions. With a reserve in excess of 13 years it was determined that additional delineation and development drilling would be more cost effective from underground drill stations once the production shaft reached the 1,900 level.

The underground drill program totaling 26,000 feet (7,900 meters) is expected to commence in May after reaching the 1,900 level in late February, and after excavation of sufficient lateral development to establish drill stations. The planned underground drill program will focus on enlarging the high grade zones within the current reserve, especially in areas planned for mining in the early years, and will provide additional data for mine development designs while expanding the open mineralized areas.

Management believes that the program has the potential to improve the overall copper production grades especially in the early years while also allowing for expansion of the combined Eastern underground copper reserve boundaries that remains open in several directions.

The open pit drill program totaling 74,000 feet (22,600 meters) has commenced with drilling results being reported as they become available.  The drill program will focus on the important “saddle zone” located between the North and South deposits and areas of the North pit that, with success, will further enhance current copper grades and reduce the strip ratio.  Drilling success in the saddle zone is expected to add copper pounds by converting into ore that which was previously considered waste due to lack of drill data.

Financing Update

Nevada Copper has a cash balance of US$36 million as at December 31, 2014. The Company also has US$110 million remaining as the undrawn portion of its Red Kite secured loan facility (see December 30, 2014 News Release).  The final draw of the latter loan facility is subject to certain conditions, including completion of the shaft and arrangement of the balance of funding of Stage 1 project capital.  Nevada Copper also has an available US$24 million Caterpillar Financial equipment lease finance facility available for mobile equipment purchases.

The Pala bridge loan facility has recently been extended to April 26, 2015.

About Nevada Copper

The Company’s advanced stage Pumpkin Hollow project in Nevada consists of a fully permitted, 6,500 tons/day underground copper mine development, with the main shaft in construction, and a nearby 70,000 tons/day open pit mine copper project with permits expected in Q2-2015.  Projected average copper production for the first five years is 75 million lbs./year from the Stage 1 underground mine, and 220 million lbs./year from the Stage 2 open pit mine.  The project is located near Yerington, Nevada, close to road, rail, and power infrastructure, and with all future water supply requirements met.

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

Qualified Persons

The technical information in this release has been reviewed and approved by Gregory French, P.G., Vice-President, Exploration & Project Development, Timothy D. Arnold, P.E., Vice President Operations, and Robert McKnight, P. Eng., Executive Vice-President and CFO of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

NEVADA COPPER CORP.

 

 Giulio T. Bonifacio, President & CEO

 Cautionary Language

This news release includes certain statements and information that may contain forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: management’s expectations of the production shaft reaching the 1900 foot level in Q1-2015, expectations as to the possible results of the Integrated Feasibility Study when completed, expectations as to the results of the planned underground and surface drilling programs, completing the land conveyance and receiving Stage 2 permits by June 2015, as well as the Company’s plans in general at the Pumpkin Hollow Project.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management and include, but are not limited to, statements with respect to the estimation of mineral resources and reserves, the realization of mineral resources and mineral reserve estimates, the timing and amount of estimated future production, capital costs, costs of production, capital expenditures, success of mining operations, environmental risks and other mining related matters.  Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to: requirements for additional capital; loss of its material properties; interest rates increase; global economy; no history of production; future metals price fluctuations, speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates may differ from what is indicated and the difference may be material; legal and regulatory proceedings and community actions; accidents, title matters; regulatory restrictions; permitting and licensing; volatility of the market price of Common Shares; insurance; competition; hedging activities; currency fluctuations; loss of key employees; unanticipated political events in the United States,  other risks of the mining industry as well as those factors discussed in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 25, 2014.  Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information.  The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law, and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended.  For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s annual filings that are available at www.sedar.com

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

For further information call:
Eugene Toffolo VP, Investor Relations & Communications
Phone:     604-683-8266
Toll free: 1-877-648-8266
Email: etoffolo@nevadacopper.com
Robert McKnight, P.Eng., MBA
Executive Vice President  & CFO
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

 

dt.common.streams.StreamServerRob Sabo
rsabo@nnbw.biz

 

The new year is shaping up to be an eventful one for Nevada Copper.

After working since early 2011 to get 10,400 acres of federal land transferred to the City of Yerington, Nevada Copper in mid December finally saw that goal realized. The transfer of land allows Nevada Copper to proceed with plans to develop a large open-pit copper mine on 3,800 acres of former federal land that surrounds the company’s underground copper mine on 1,200 acres.

Please read the full article written by Rob Sabo, Nevada Appeal here