Tag Archives: Nevada Copper

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July 31, 2015
Nevada Copper Extends and Increases Bridge Loan Facility


July 31, 2015 – Nevada Copper Corp. (TSX: NCU) (the “Company”) is pleased to announce that it has extended the maturity date of its US$15 million bridge loan facility (“Loan Facility”) with Pala Investments Limited (“Pala”) to January 31, 2016 while also increasing the maximum principal amount of the Loan Facility to US$25 million. The other terms of the Loan Facility remain unchanged. The Loan Facility will be drawn down as required.The Loan Facility is secured against the Company’s assets, but is subordinate to the security granted in connection with the US$200 million senior credit facility with RK Mine Finance announced by the Company on December 30, 2014.Giulio Bonifacio, President and CEO, comments: “This extension and increase of the bridge loan further confirms Pala’s continued support as our largest shareholder. This support most importantly allows Nevada Copper to continue advancement of the Pumpkin Hollow Copper Project, while evaluating several financing and development options.”

“In view of the capital markets and valuations in what has been an extremely challenging period in the mining sector, the support of Pala further enhances our ability to maximize value for all our shareholders.”

Additional Information

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

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 further drawdowns or repayments under the Loan Facility, and other financing activities of the Company.

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

View the release in PDF format:

File: http://www.nevadacopper.com/i/pdf/2015-07-31_NR.pdf
188 KB, approx. 36 seconds at 56.6Kbps

PHNEWS RELEASE

TSX: NCU

 NEVADA COPPER RECEIVES AIR POLLUTION CONTROL PERMIT

 July 31, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is very pleased to provide an update on progress of permitting with the Nevada Division of Environmental Protection (“NDEP”) – Bureau of Air Pollution Control (“BAPC”) for its 100%-owned Pumpkin Hollow project located near Yerington, Nevada.

On July 30, 2015, BAPC issued the revised Class II air quality operating control permit for a 70,000 tons per day underground and open pit mines feeding a single copper concentrator (“Integrated Project”). This is in addition to the current air permit, which will be retained, for a stand-alone 6,500 ton per day underground concentrator.  The air quality permit covers particulate emissions, electrical generators and fugitive dust.  Since the estimated emissions for any one pollutant are less than 100 tons per year, Pumpkin Hollow is classified as a minor source (Class II). The Integrated Project does not involve any hazardous emissions of criteria pollutants from thermal or chemical processes.

Timothy M. Dyhr, Vice President of Environment and External Relations commented: “Receipt of the air quality permit is a significant milestone.  Our reclamation permit is also near completion with the close of the public comment period on July 24th. No comments were received by NDEP.  Therefore, the Company expects to receive the reclamation permit in early August.  At that time, we will have all of the necessary State environmental permits to develop the much larger open pit and underground operation.”

 With full oversight from NDEP, the Company continues to address all aspects of environmental protection – air, water, waste, reclamation, cultural resources, spill prevention and control, drinking water and storm water.

Previously, the Company announced (News Release July 17, 2015) that the Bureau of Land Management (“BLM”) issued the Decision Record and Finding of No Significant Impact that fulfills the environmental review for the Congressionally-mandated Yerington Land Conveyance. Upon completion of a 30-day notice period, the BLM can issue a “patent”, or property deed, to the City of Yerington (the “City”). The land acquisition remains on track for a Q3 2015 closing.  The Company continues to work closely with the City and the BLM on the patent and payment for the land to finalize the conveyance.  Subsequently, the City will re-convey a major portion of those lands to Nevada Copper.

Additional Information

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

 

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

 

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.

RESPONSIBLE APPROACH TO MINING

Nevada Copper’s Pumpkin Hollow Project’s approach is to ensure our mine has minimal impact on the environment. With this in mind, some of the goals of this project are to protect human health and the environment, to reclaim mine rock and tailings storage areas, restore natural vegetation and seek to convert mine facilities to other future uses …… A responsible approach to mining. We have conducted extensive studies to understand the condition of the environment before starting operations. These studies help us understand the characteristics of the water, land, air, plant and animal species within our stewardship area. We also hire professionals to inventory cultural resources to discover any cultural artifacts that may be present. With this knowledge in hand, we design and implement methods to minimize the impact on the environment as much as practical, and – where possible – even enhance it.

PERMITS & COMPLIANCE:

The following are the key elements of the permitting and compliance for Pumpkin Hollow:

  • Obtained ten (10) environmental permits with state and federal agencies.
  • Prepare quarterly and annual reports for the Nevada Division of Environmental Protection detailing groundwater quality data.
  • Prepare annual reports to the Nevada Division of Environmental Protection delineating all existing disturbance acreage.
  • Report at least annually on several other permits.

RECLAMATION:  Nevada Copper’s Pumpkin Hollow Mine Project:

  • Maintains a comprehensive database of every acre of disturbance on site.
  • Will reclaim and revegetate all disturbances to a state as good or better than the original.
  • Has completed reclamation earthwork on ~70% of existing disturbance
  • Has planted and is evaluating revegetation test plots
  • Will leave some multi-purpose facilities behind following cessation of mining to be converted to another use.

Land disturbance is a consequence of mining. Our aim is to minimize our footprint and mitigate our impacts.

An important element of our environmental management approach is the development of closure and reclamation plans as a part of initial project planning and design. Closure and reclamation plans are then routinely updated during the life of the operation to ensure that environmental impacts are effectively addressed and financial obligations are satisfied.

reclaim

MONITORING WELLS:

At Pumpkin Hollow we utilize state of the art groundwater sampling and monitoring technology (depth sensors, sonic sensors, and bladder pumps) to regularly monitor groundwater from approximately 20 on site monitoring wells.

In addition to the above, here are some other aspects of our commitment to a responsible approach to mining.

Ecology:

  • Characterized the native vegetation – no Threatened & Endangered (T&E) species affected.
  • Characterized the local wildlife community (no T&E species affected).
  • Will create facilities that are fenced or otherwise made generally inaccessible to wildlife.

Geology and Soils:

  • Characterized all primary rock types to be excavated and plans to safely manage and reclaim mine rock storage areas to prevent degradation of surface and ground water.
  • Determined with laboratory testing that the majority of the mine rock will not leach metals, pollutants or generate acid.
  • Identified and characterized all site soils.

Air:

  • Regularly monitor air quality, including fugitive dust, and has plans in place for dust control.

People:

  • Develop a well-trained workforce committed to safe, clean production.
  • Emphasize that safety of all of its workers is the highest priority.

Engineering:

  • Diversions and berms have been engineered to prevent storm water run-on into mine facilities and to manage storm water run-off from mine facilities.
  • Mine rock and tailings facilities have been designed and will be constructed to be structurally and erosionally stable during and after operations.

Mineral Processing:

  • Processing equipment has control systems designed to detect and prevent spillage or escape of process fluid to the environment.
  • All process fluids are contained in zero discharge vessels or ponds (primary containment), that have overflow (secondary containment) to capture accidental release of process fluids from primary containment.
  • Water will be removed from tailings (the fine ground rock that remains after the copper, gold and silver have been extracted) using high pressure filters to maximize water recycling and reduce water consumption by up to 65% over more standard methods.
  • Removing water from tailings also eliminates the need for a dam and the potential for seepage into groundwater. It also significantly reduces the size of the area needed for permanent storage of tailings.

 

 

NEVADA COPPER INTERSECTS 448 FEET GRADING 1.0% COPPER

July 15, 2015 Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce drill results at the Company’s 100%-owned Pumpkin Hollow project located near Yerington Nevada.

The primary objective of the drilling was to obtain additional samples for iron metallurgical testwork. The assay results however also contained several notable high grade copper intersections in the South open pit, including 230 feet (188 feet true thickness) grading 1.49% copper within a broader zone of 448 feet (367 feet true thickness) grading 1.0% copper. The copper- and iron-dominated intersections are shown in separate tables below.

Drilling in the South open pit area for the iron metallurgical test bulk sample has been completed. In April 2015, the Company announced a Memorandum of Understanding (“MOU”) with a large multi-national steel producer to assess opportunities to exploit Pumpkin Hollow’s iron resource. The assessments would include drill sampling consisting of six holes for a total of 8,500 feet (2,600 meters). Drill results have now been received with results reported for both iron and copper dominated zones.

Additionally mine planning, engineering studies and metallurgical work will 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.

Six holes, holes S-01 and S-03 through S-07, were drilled in the South deposit. The holes targeted both high and low grade iron areas within the pit limits of the deposit. In addition to the iron mineralization, the holes intersected the copper zones including areas of higher grade copper mineralization.

Several of the drill holes intersected multiple zones of iron mineralization. The largest zones of iron mineralization are found in S-03 and S-04, located in the center of the South deposit. The large zone in S-03 intersected, 117.0 meters (580.8 feet) 106.0 meters true thickness, averaging 40.0% iron. S-04 intersected, 224.9 meters (738.0 feet) 172.3 meters true thickness, averaging 48.4% iron.

All of the drill holes intersected multiple zones of copper mineralization. Located within the center of the deposit, holes S-01 and S03 both intersected mineralized zones that total over 800 feet in thickness. The largest zone in S-01 intersected 74.7 meters (245.0 feet) 61.2 meters true thickness at a grade of 0.62% copper.

Drill hole S-07 was drilled in the southeastern part of the deposit, in an area of higher copper grades and moderate iron. The hole intersected several zones of mineralization with the largest intersecting 136.6 meters (448.0 feet) 111.9 meters true thickness averaging 1.0% copper.

Greg French, Vice President of Project Development & Exploration, commented, “In addition to obtaining the material necessary to complete the iron metallurgical test work, the drilling has increased the continuity of both copper and iron mineralization. Drill hole S-03, within the core of the main iron mineralization, intersected 738 feet grading 48.4% iron.

“The copper results are also extremely positive, as the high grade copper core of the South deposit has been expanded. Within the broader zone of 1.0% copper in drill hole S-07 there is a high grade intercept of 230 feet averaging 1.49% copper. The results from recently completed open pit drilling which has expanded the South deposit and the metallurgical drilling are expected to have a positive effect on the resource and future mine designs.”

The tables below summarize the results received and have been grouped in copper-and iron-dominated zones.

Copper-Dominated Intervals

 

Hole # From To Length True Length Length Cu Gold Silver Fe
(m) (m) (m) (m) (feet) % (g/t) (g/t) %
S-01 155.4 230.1 74.7 61.2 245.0 0.62 0.131 3.9 8.4
245.4 318.2 72.8 59.6 239.0 0.25 0.041 1.8 22.9
348.4 374.8 26.4 21.6 86.7 0.66 0.117 3.5 18.9
383.1 455.0 71.9 58.9 236.0 0.23 0.027 0.7 35.4
S-03 89.9 160.0 70.1 63.5 230.0 0.25 0.055 1.9 13.1
184.4 202.7 18.3 16.6 60.0 0.19 0.037 1.4 17.8
217.2 281.6 64.4 58.4 211.4 0.33 0.060 1.7 15.2
311.8 355.4 43.6 39.5 143.0 0.32 0.021 0.9 40.0
368.6 414.2 45.6 41.3 149.8 0.19 0.021 0.8 43.0
426.7 432.8 6.1 5.5 20.0 0.20 0.012 0.5 51.5
S-04 106.7 153.9 47.2 36.2 155.0 0.37 0.047 1.9 35.3
192.0 221.0 29.0 22.2 95.0 0.17 0.019 0.7 47.8
237.7 279.6 41.9 32.1 137.5 0.22 0.015 0.7 45.2
285.8 301.1 15.3 11.7 50.3 0.16 0.012 0.6 49.2
S-05 160.0 170.7 10.7 8.2 35.0 0.23 0.029 0.6 10.2
222.5 231.6 9.1 7.0 30.0 0.22 0.054 0.7 17.5
243.8 380.4 136.6 104.6 448.0 0.29 0.045 1.0 20.9
408.0 462.7 54.7 41.9 179.5 0.23 0.046 1.3 27.4
489.4 507.8 18.4 14.1 60.5 0.30 0.047 1.9 46.7
S-06 164.6 172.2 7.6 6.6 25.0 0.17 0.038 1.0 22.5
216.4 307.9 91.4 79.2 300.0 0.18 0.006 0.6 33.6
S-07 167.6 304.2 136.6 111.9 448.0 1.00 0.162 5.4 26.3
including 182.9 253.0 70.1 57.4 230.0 1.49 0.190 7.7 20.5
322.5 389.5 67.0 54.9 219.9 0.30 0.049 1.1 20.5

Iron-Dominated Intervals

 

Hole # From To Length True Length Length Cu Gold Silver Fe
(m) (m) (m) (m) (feet) % (g/t) (g/t) %
S-01 213.4 254.5 41.1 33.7 135.0 0.20 0.025 1.3 23.7
278.9 318.2 39.3 32.2 129.0 0.29 0.051 2.3 28.1
387.4 455.1 67.7 55.4 222.0 0.22 0.018 0.6 36.9
S-03 89.9 97.5 7.6 6.9 25.0 0.37 0.052 0.5 28.0
258.3 292.0 33.7 30.5 110.5 0.24 0.032 0.8 24.4
298.0 475.0 117.0 106.0 580.8 0.18 0.014 0.6 40.0
S-04 117.4 342.3 224.9 172.3 738.0 0.18 0.018 0.2 48.4
S-05 184.4 204.2 19.8 15.2 65.0 0.11 0.033 0.4 25.4
253.0 282.7 29.7 22.8 97.5 0.57 0.097 1.2 26.2
292.9 329.8 36.9 28.3 120.9 0.29 0.043 1.3 22.7
S-04 344.4 378.8 34.4 26.4 113.0 0.17 0.021 0.9 21.6
408.0 443.8 35.8 27.4 117.5 0.22 0.039 1.4 34.3
S-06 199.6 302.9 103.3 89.5 339.0 0.16 0.006 0.6 35.6
S-07 213.4 306.2 92.8 76.0 304.5 0.10 0.180 5.9 34.8
347.6 387.1 39.5 32.4 129.7 0.28 0.056 1.3 29.5

 

A plan map showing the metallurgical drill holes in the South Deposit is shown below:

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, 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 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

View the release in PDF format:

File: http://www.nevadacopper.com/i/pdf/2015-07-15_NR_5Dso2.jpg.pdf
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4-Nevada-Copper-Inc.-Pumpkin-Hollow-Project-570x257RIGHT PLACE.   RIGHT TIME.    RIGHT PEOPLE.   RIGHT WAY.

RIGHT FOR YERINGTON

 

NEVADA COPPER PUBLIC INFORMATION MEETING

JULY 22, 2015 – 6 PM – Pioneer Crossing Convention Center

 

Please join us for a public information meeting to learn about the Pumpkin Hollow Project.

On Thursday, July 9, Nevada Copper Corp. published a revised feasibility study that describes an integrated open pit and underground mine with a 70,000 ton per day process plant. Combined with the passage of the Yerington Land Conveyance by Congress in December 2014, the company sees the opportunity to develop the Integrated Project (2 mines, one mill) instead of a smaller underground mine and mill first and then a second open pit mine and mill.  The Integrated Project greatly enhances the attractiveness of and opportunity to finance the bigger project.  At the same time we have nearly completed receipt of all necessary permits to develop the integrated project.

With all of this progress, we believe it is a good time to conduct a public information meeting to let the local community know all the things we are doing and will be doing.  This includes safety, environmental and reclamation programs, management and use of groundwater and surface water, construction, mining and processing operations, and the most frequently asked questions about jobs, training and hiring.

Our goal is to ensure our mine is the safest and most productive mine with minimal impact on the environment.  We intend to convert mine facilities to other future economic uses and reclaim mine rock and tailings storage areas, and restore natural vegetation ……  A responsible approach to mining. 

Before Nevada Copper begins production and makes its first penny from copper, it needs to invest $1 billion!

We first must:

  • Complete 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-emergency egress shaft
  • Develop the underground mine access drifts (or tunnels)
  • 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

All of Nevada will benefit from the taxes and jobs created by the Pumpkin Hollow Mine Project. Over the period of active production, the Integrated Project would create approximately 900-1,000 direct jobs. In addition, the mine will employ contractors (indirect jobs) and create other “induced” jobs such as local retail or service businesses, teachers and other public services. Total direct, indirect and induced jobs created by this project are estimated to be 3,000-3,500.

We at Nevada Copper, Pumpkin Hollow Project are committed to an on-going consultation with the Yerington community and to provide updated information on the progress of our project as it moves along.

“Right Place. Right Time. Right People. Right Way.”

 

 

306120_620278957989389_1260346527_n

NEWS RELEASES

July 09, 2015
Nevada Copper Files Integrated Feasibility Study on Sedar


July 9, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper”) (the “Company”) is pleased to announce that it has completed, and SEDAR-filed, a National Instrument 43-101 (“NI 43-101″) Integrated Feasibility Study Technical Report for its 100%-owned Pumpkin Hollow Copper Project located near Yerington, Nevada.The Integrated Feasibility Study describes the proposed development of a 70,000 tons per day copper concentrator with mill feed from both open pit and underground mine operations. The Technical Report, entitled “NI 43-101 Technical Report Integrated Feasibility Study, Pumpkin Hollow Project Yerington, Nevada” (“IFS”), has an effective date of April 15, 2015. This technical report supersedes all previous technical reports on the Pumpkin Hollow Copper Project.

The IFS was prepared under the direction of Tetra Tech, Inc. (“Tetra Tech”) with Stantec Consulting Services Inc. (“Stantec”) having responsibility for the detailed underground mine design and underground capital cost estimation. Tetra Tech and Stantec are both industry-leading international engineering firms.

Highlights of the Integrated Feasibility Study (All dollar amounts are stated in United States currency)

Reserves and mine production are as reported in the May 28, 2015 press release however, certain costs differ slightly from previously reported amounts:

  • Long mine life of 23 years with low-risk profile located in an ideal mining jurisdiction close to existing infrastructure, an increase of 5 years from the first published integrated feasibility study, with production ramp-up targeted for 2018;
  • Assuming the Base Case of US$3.15 copper, US$1,200 gold and US$18 silver, the Integrated Project generates Life-of-Mine (“LOM”) after-tax net cash flow of US$2.5 billion, NPV@ 5% of US$1.1 billion, an after-tax IRR of 15.6% with 4.7 year payback;
  • Significant LOM metal production of 4.5 billion pounds (2.05 million tonnes) of copper, 512,000 ounces of gold and 15.6 million ounces of silver in a quality copper concentrate. Average annual copper production of 275 million pounds in years 1 to 5;
  • The project development contemplates a 63,500 tons/day open pit mine and 6,500 tons/day underground mine, feeding a single 70,000 tons/day concentrator, generating substantial annual cash flow over LOM;
  • Proven and Probable Mineral Reserves, including open pit and underground mineable, are 572 million tons of ore grading 0.47% copper equivalent1, containing 5.05 billion pounds of copper, 761,000 ounces of gold and 27.6 million ounces of silver;
  • Initial capital costs are estimated to be $1.04 billion including contingencies, excluding working capital of $33 million. Sustaining LOM capital is $0.63 billion;
  • Low LOM site operating costs of $11.80 per ton of ore-milled (Year 1 to 5 – C1 Production Costs at $1.49/lb. payable copper), excluding leased equipment and Nevada State Minerals Tax;
  • The IFS includes drilling data to 2011 for the underground deposits and 2013 for the open pit deposits. Further upside and optimization potential exists from current drilling in 2015 which is not included in the IFS; and
  • The IFS confirms the technical and financial viability of constructing and operating a 70,000 tons/day copper mining and processing operation at Pumpkin Hollow comprising a single large concentrator with mill feed from both open pit and underground operation.

_______________________
1The copper grade equivalency was determined using Base Case metals prices and metallurgical recoveries of 89.3%, 67.3% and 56.3% for copper, gold and silver respectively

Annual copper production in concentrates and C1 operating costs:

Units Years 1-5* Years 1-10* LOM (Average)
Copper in Concentrates 000s lbs./yr. 274,700 246,300 198,200
Copper in Concentrates Tonnes/yr. 124,600 111,700 89,900
C1 Production Costs** $/lb payable copper $1.49 $1.70 $1.76

* Note starting post ramp-up period
** The direct cash costs of mining, milling and concentrating, site administration and general expenses, concentrate treatment charges, and freight and marketing costs, less the net value of gold and silver by-product credits.

Summary of Economic Results:

    Low Case Base Case High Case
Copper Price $/lb $2.85 $3.15 $3.75
Gold Price $/oz $1,200 $1,200 $1,200
Silver Price $/oz $18 $18 $18
                                                                              (In Millions of US Dollars)
Net Smelter Revenue, after royalty $10,768 $11,990 $14,434
Net Cash Flow Pre-tax $1,831 $2,992 $5,315
Net Cash Flow After-tax $1,584 $2,514 $4,249
Annual Net Cash Flow Yr. 1-5 avg. $204 $262 $366
Pre-tax Operating Margin* Yr. 1-5 avg. $300 $380 $540
NPV 5% Pre-tax $659 $1,362 $2,768
NPV 5% After-tax $534 $1,100 $2,155
IRR Pre-tax 11.3% 17.5% 28.8%
IRR After-tax 10.4% 15.6% 24.6%
Payback – years Pre-tax 7.9 4.2 2.8
Payback – years After-tax 8.2 4.7 3.2

* Note: Net revenues less smelter charges, concentrate transport and site operating costs, including operating lease costs.

Capital Costs

The project initial capital costs are estimated at $1.04 billion with an accuracy of plus/minus 15% as of March 2015, including an initial contingency of $67 million. The contingency allowance is calculated based on assessed factors for each of the major Direct and Indirect cost categories.

The major direct cost items include development of the East underground mine, open pit mine equipment, leasing costs, North deposit pre-stripping, process plant, tailing storage facility, site infrastructure and offsite rail load-out facility. Indirect costs include such major areas as engineering and procurement, construction management, construction indirects, freight and commissioning, spares inventory, first fills, and Owners Costs.

Initial Sustaining Total
Area US$M US$M US$M
Open Pit Mine $263 $222 $485
Underground Mine 81 158 238
Ore Handling 12 2 15
Process Facility 268 52 320
Dry Stack Tailings Storage 69 79 148
Infrastructure 88 0 88
Water Management 18 2 19
Environmental & Reclamation 12 41 54
   Subtotal Directs 811 556 1,367
Construction Indirects 66 35 101
Spares & Warehouse Inventory 10 2 12
Initial Fills 4 0 4
Freight & Logistics 15 2 17
Commissioning & Start-Up 2 0 2
EPCM 58 0 58
Vendor & Consulting Assistance 1 0 1
   Subtotal In-directs 156 39 195
Contingency 67 39 106
Owner Costs 7 0 7
Total Capital $1,041 $634 $1,675

Note: totals may not add due to rounding

Working capital required for initial operations is estimated to be $33 million.

LOM sustaining capital totals $0.63 billion and includes development costs associated with the E2 underground deposit and related equipment; South open pit deposit development costs; replacement of, and additions to, surface mobile equipment; expenditures on the tailings storage facility, and reclamation costs, net of salvage value at the conclusion of the project.

Operating Costs

LOM site unit operating cash costs, net of capitalized pre-stripping and other predevelopment costs, are $11.80 per ton-milled, as summarized in the table below:

LOM Unit Operating Cost Summary
Area $/ton-milled
Open Pit  Mining $5.03
Underground Mining 1.45
Processing 4.73
Tailings & Water Management 0.17
Environmental 0.02
G&A 0.40
Total LOM Site Operating Costs $11.80

Note: The cost of operating leases and Nevada Net Proceeds of Mining tax adds $0.72/ton and $0.28/ton, respectively.

Unit open pit mining cash costs average $5.34 per ton of open pit ore mined and milled. This equates to $1.16 per ton of open pit material mined, including waste and ore. Average LOM strip ratio for the North and South deposits is 3.59. Underground mining costs average $24.06 per ton of underground ore mined, excluding $1.25 for truck transport of ore to concentrator.

LOM Unit Mining Costs
Open Pit
($/ton of open pit ore mined)
Underground
($/ton of underground ore mined)
$5.34/ton $24.06/ton

A power cost of $0.065/kwh was used for IFS purposes, based on NV Energy expected rates.

Qualified Persons

In November 2014 Nevada Copper commissioned Tetra Tech and Stantec to prepare an updated Pumpkin Hollow Project Integrated Feasibility Study Technical Report in accordance with NI 43-101. The scientific and technical information in this release has been reviewed and approved by Mr. Ed Lips, PE, of Tetra Tech, who is overall manager for the IFS and who is an Independent Qualified Person within the meaning of NI 43-101. It has also been reviewed by Mr. Mel Lawson, SME-RM, Principal/Senior Consulting Engineer, Stantec Consulting Services Inc. who is an Independent Qualified Person within the meaning of NI 43-101.

This release was also reviewed by Gregory French, P.G., Vice-President Exploration & Project Development of Nevada Copper, Timothy D. Arnold, PE, Vice President of Operations and Robert McKnight, P. Eng., Executive Vice-President of Nevada Copper, all of whom are Non-independent Qualified Persons within the meaning of NI 43-101.

Readers should refer to the IFS for further details of the project development. The IFS will be filed in accordance with NI 43-101 on SEDAR (www.sedar.com).

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, including the likelihood of commercial mining, securing a strategic partner, expanding the mineral resources and mineral reserves and possible future financings are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning: Nevada Copper Corp. (the “Company”) plans at the Pumpkin Hollow Project; the timing of granting of key permits; from the IFS: the estimated metal production and the timing thereof; capital and operating costs, future metal prices, cash flow estimates, and economic indicators derived from the foregoing.

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: history of losses; requirements for additional capital; dilution; 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; 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.

Alternative Performance Measures

“Copper Production Costs”, “LOM Operating Costs”, “LOM site unit operating costs”, “C1 Production Costs” and similar terms are +alternative performance measures. These performance measures are included because these statistics are key performance measures that management may use to monitor performance. Management may use these statistics in future to assess how the Company is performing to plan and to assess the overall effectiveness and efficiency of mining operations. These performance measures do not have a meaning within International Financial Reporting Standards (“IFRS”) and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

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.,
Executive Vice President
Phone 604-683-1309
Email: bmcknight@nevadacopper.com

Timeline_Cover_doNotRename43NEWS RELEASE

TSX: NCU

NEVADA COPPER election of new director and annual meeting results

June 29, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or “Company”) The Board of Directors of Nevada Copper is very pleased to announce the election of Mr. James Askew to its Board of Directors.

Mr. Askew holds a Bachelor of Mining Engineering (Honours) and Masters Degree in Engineering Science and has over 40 years of international experience as a Director and/or Chief Executive Officer. Mr. Askew has extensive technical expertise in both open pit and underground mines including design, construction and operations in all major continents. In addition to his vast technical experience, Mr. Askew has overseen numerous financings, M&A successes and assembling of key personnel for mine-building teams.

Mr. Askew is currently the Chairman of Oceanagold Corporation and Syrah Resources, as well as a Director of Evolution Mining and Asian Mineral Resources. Other past listed company directorships include PMI Gold (Chairman), Sino Gold (Chairman), Yamana Gold (Non-Executive Director), and Ivanhoe Australia (Non-Executive Director).

Mr. Bonifacio, President & CEO, commented, “On behalf of Nevada Copper’s Board of Directors, we welcome Jim to Nevada Copper.  Jim’s extensive background in construction and operation of surface and underground mines along with his proven leadership and wide knowledge of the industry will prove invaluable to Nevada Copper as we move the Pumpkin Hollow copper development project forward to production.”

Annual and Special Meeting Results

The Company is pleased to announce the results from its 2015 Annual and Special Meeting (the “Meeting”), held on Friday, June 26th in Vancouver, B.C.  Shareholders holding a total of 56,666,742 common shares of the Company attended the meeting in person or were represented by proxy, representing 70% of the total 80,501,458 common shares of the Company outstanding as of the record date.  Shareholders voted in favour of all items of business before the Meeting, including the appointment of auditors, the election of all directors and the re-pricing of certain stock options held by insiders.

  1. Appointment of Auditor

KPMG was appointed as the Company’s auditor and the directors were authorized to fix the auditor’s remuneration.

  1. Determination of the Number of Directors

The number of directors was determined at nine.

  1. Election of Directors

The following persons were elected as Directors of the Company until the next annual meeting with the voting results shown below:

 

Director Votes For % For Votes Against % Against
Victor Bradley, Lead Director 53,633,655 99.71 155,812 0.29
James Askew 53,635,655 99.71 153,812 0.29
Michael Barton 53,667,655 99.77 121,812 0.23
Giulio Bonifacio 53,667,428 99.77 122,039 0.23
Michael Brown 53,665,655 99.77 123,812 0.23
Philip Clegg 53,664,255 99.77 125,212 0.23
Daniel Dumas 53,664,755 99.77 124,712 0.23
Joseph Giuffre 53,664,328 99.77 125,139 0.23
Paul Matysek 53,662,355 99.76 127,112 0.24

 

  1. Stock Option Re-pricing

The following ordinary resolution to approve the repricing of stock options held by insiders of the Company was approved.   The ordinary resolution was approved by the disinterested shareholders of the Company with the following results:

Disinterested Shareholders

Votes For                                       –           45,845,129 (97.25%)
Votes Against                               –           1,294,128 (2.75%)
Votes Withheld                              –            0 (0%)
Total Common Shares Voted        –            47,139,257 (100%)

 

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

 

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

 

Timeline_Cover_doNotRename43

NEWS RELEASE

TSX: NCU

 

NEVADA COPPER INTERSECTS 210 FEET OF 1.39% COPPER IN THE CONNECTOR ZONE

 

June 1, 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 test 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. The drill program which started in late February currently consists of up to 74,000 feet (22,600 meters) of drilling. There are currently three drill rigs which have completed 13 holes for a total of 24,300 feet (7,400 meters).The results for the first 3 holes were released April 23, 2015. This news release provides the results for the latest seven drill holes, bringing the total holes released to 10. The results for the remaining 3 holes are pending. All of the latest seven holes were drilled in the North deposit and the Connector zone between the North and South deposits. All holes have been successful in intersecting mineralization. Drill holes NC15-03, NC15-07 and NC 15-13 expanded mineralization in the Connector zone. Drill holes NC15-05 & 06 and NC15-09 expanded mineralization on the edges of the North deposit but still within the current pit limits. NC15-04, drilled in the center of the North deposit, was also successful in expanding mineralization below the main zone.Drill holes NC15-03, NC 15-07 and NC15-13 are located in the Connector zone between the North and South open pit deposits. In all three holes mineralization correlated with adjacent holes. NC15-13 drilled on the bridge of the pits intersected shallow mineralization 63.9 meters (209.5 feet @ 1.39% Cu), true thickness. Just northwest of NC15-13, drill hole NC15-03 intersected over 42.8 meters (158.0 feet @ 0.79% Cu), true thickness. Additional drilling is planned to follow up this new high grade zone.

Drill holes NC15-05 & NC15-06 are located along the western edge and within the designed North pit limit. The mineralization has narrowed in NC15-05. Mineralization seems to be thickening to the southwest where NC15-06 intersected 58.0 meters (190.4 feet) true thickness averaging 0.40% copper. Follow up drilling of NC15-06 is currently planned.

Drill hole NC15-04, located in the center of the North deposit, intersected multiple zones of mineralization totalling over 1,000 feet in the center of the deposit. The upper zones correlate well with existing mineralization. The new lower zones helps fill in area where drill density is limited and the rock is classified as waste or inferred. Additional drilling is currently planned.

Drill hole NC15-09 is located along the eastern edge and within the designed North pit limit intersected 70.3 meters (230.7 feet @ 0.37% Cu), true thickness. The mineralization is continuous with adjacent holes and remains open and expected to convert inferred and waste material. Additional off set holes are planned.

Greg French, Vice President of Project Development & Exploration, commented, “We are very pleased that our drilling continues to be successful in intersecting and expanding the mineralization within the current pit and the Connector zone.

“In the Connector zone, we expect that the positive results we are achieving in this area will not only upgrade what is currently classified as waste, but also improve future pit designs. Three holes were drilled in the area and multiple zones of mineralization were encountered. The shallow mineralization in drill hole NC15-13 was higher grade than expected at 209.5 feet averaging 1.39% copper. We continue to keep one of the drill rigs focused on expanding this significant area.

“In the center of the North deposit, below the main zone, mineralization had been geologically projected but could not be included in the mineral reserve due to limited deeper drilling. Drill hole NC15-04 helped confirm the mineralization by intersecting multiple zones. Additional drilling in this area is being planned. Following up open mineralization on the eastern and western edges of the North deposit has also been successful. On the eastern edge, drill hole NC15-09 intersected 230.7 feet averaging 0.37% copper. This hole will be off set.”

The tables below summarize 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) %
NC15-03 395.6 409.7 14.1 14.1 46.1 0.15 0.002 0.7 0.15
436.8 444.4 7.6 7.6 25.0 0.20 0.047 0.9 0.23
494.7 542.9 48.2 48.2 158.0 0.79 0.201 3.8 0.90
555.7 569.4 13.7 13.7 45.0 0.19 0.028 0.8 0.21
NC15-04 53.3 64.0 10.7 10.7 35.0 0.51 0.016 0.8 0.52
71.6 77.7 6.1 6.1 20.0 0.24 0.012 0.7 0.25
114.3 144.8 30.5 30.5 100.0 0.23 0.016 0.7 0.24
158.5 223.6 65.1 65.1 213.5 0.58 0.125 0.9 0.64
232.8 297.8 65.0 65.0 213.0 0.22 0.020 0.7 0.23
329.8 386.6 56.9 56.9 186.5 0.20 0.014 0.5 0.21
394.7 465.4 70.7 70.7 232.0 0.20 0.026 1.1 0.22
496.5 509.9 13.4 13.4 44.0 0.03 0.044 1.2 0.06
NC15-05 361.2 373.4 12.2 11.5 40.0 0.85 0.046 1.8 0.88
NC15-06 326.7 338.3 11.6 11.6 38.3 0.51 0.030 3.7 0.54
415.1 473.1 58.0 58.0 190.4 0.40 0.020 1.2 0.42
NC15-07 158.8 168.3 9.5 7.2 31.0 0.18 0.014 0.5 0.19
194.2 199.2 5.0 3.8 16.5 0.21 0.018 0.7 0.22
223.1 227.7 4.6 3.5 15.0 0.20 0.029 1.2 0.22
251.2 266.1 14.9 11.4 49.0 0.19 0.024 0.8 0.21
396.9 441.4 44.4 34.0 145.6 0.44 0.026 1.3 0.46
467.2 491.3 24.1 18.5 79.0 0.20 0.035 0.9 0.22
532.5 539.7 7.2 5.5 23.5 0.18 0.026 0.6 0.19
550.2 560.2 10.0 7.7 33.0 0.29 0.092 0.9 0.34
630.8 637.0 6.2 4.7 20.5 0.21 0.101 0.8 0.25
NC15-09 252.8 323.1 70.3 70.3 230.7 0.37 0.032 1.1 0.39
NC15-13 173.9 237.7 63.8 63.8 209.5 1.39 0.426 3.6 1.60

* 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:

Underground Drill Program
The first underground drill station at the 1,900 foot production level is complete and drilling has commenced. The 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.

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 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

View the release in PDF format:

File: http://www.nevadacopper.com/i/pdf/2015-06-01_NR_20jtq.pdf
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