Category Archives: Mine Development

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Nevada Copper, Inc. is COMMITTED TO DEVELOPING LOCAL WORKFORCE EMPLOYMENT OPPORTUNITIES

Nevada Copper Inc. has received a number of job inquiries recently at the Pumpkin Hollow Project.  However, hiring of a construction or operations workforce is many months out, since the mine must first be constructed.

The passage of the Yerington Land Conveyance bill by Congress and the $200 million financing were exciting milestones and put us in a strong position to continue development of the project.  The company is also in a much better position to secure the remainder of financing needed to develop both the underground and open pit mines at the project.  The company is re-evaluating the project development strategy based on an exploration program and feasibility study update currently underway.

Currently, the Company is constructing a 24-foot diameter, production-sized shaft and lateral development.  This work is being performed by Cementation, USA, a specialized shaft-sinking contractor.  They currently have a workforce of about 50 people and from time to time may add people.

Completion of the land transfer affords the company an opportunity to re-evaluate the best and most efficient way to develop the project.  It will take about six months to complete the land transfer.  During that time the company is undertaking a significant amount of planning and engineering design that needs to be completed before we start construction and operation of the mine and process facilities.  Once those studies have been completed and the necessary financing is secured to complete development of the project, construction will be initiated and operations will follow.

At this time we cannot provide exact times when these different activities will occur.  Persons interested in employment opportunities or job training should monitor our website social media site on Facebook for information on start-up of construction and operations:

Website: www.pumpkinhollowcopper.com

Facebook: https://www.facebook.com/miningRbusiness.

At the present time, the jobs associated with Pumpkin Hollow are with many outside companies that supply us with skilled contractors who strengthen our workforce. For inquiries regarding contractor and vendor work, please explore the links below:

TYPES OF MINING CAREERS

  • Mining engineers
  • Metallurgical engineers
  • Electrical engineers
  • Civil engineers
  • Mechanical engineers
  • Structural engineers
  • Environmental engineers
  • Geologists
  • Hydrologists
  • Accountants
  • Supply chain professionals
  • Underground miners
  • Surface miners
  • Equipment operators
  • Supervisors
  • Electricians
  • Mechanics
  • Hoist operators
  • Safety professionals
  • Environmental technicians
  • Information systems and technology specialists

January 3, 2016 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) has entered into an agreement (the “Agreement”) to amend its senior secured loan agreement (the “Loan Agreement”) with EXP T1 Ltd. (“Red Kite”), an affiliate of Red Kite Mine Finance and postpone the exercise of certain rights and remedies that Red Kite has under the Loan Agreement. The Agreement also sets out the terms on which the Company will purchase Red Kite’s right, title and interest in Red Kite’s Offtake Agreement (as defined below).

The Loan Agreement was previously amended on September 30, 2015 to, among other things, extend the maturity date of the loan to December 31, 2021 and the outside date for fulfillment of project construction draw conditions by 12 months to December 31, 2016. The Loan Agreement amendment also required that, prior to December 31, 2015 the Company would complete an equity and/or subordinated debt financing transaction for proceeds of US$20 million (the “Interim Financing Transaction”). These funds were to provide adequate working capital while also providing funding for further project optimization.

During the fourth quarter of 2015, the Company engaged with several groups interested in Nevada Copper’s Pumpkin Hollow copper project (“the Project”), however in view of the challenging capital and commodity markets, the Company also entered into discussions with Red Kite regarding the Loan Agreement. On January 2, 2016, the Company reached the Agreement, pursuant to which Red Kite will not exercise its rights and remedies under the Loan Agreement as a result of the non-completion of the Interim Financing Transaction by December 31, 2015, the Company will have until April 15, 2016 to complete an alternative financing, and the Loan Agreement will be further amended, all as set out below.

The key provisions of the Agreement are as follows:

1. Loan Agreement Extension. Red Kite has agreed to:

a) not exercise its rights and remedies under the Loan Agreement as a result of the non-completion of the Interim Financing Transaction by December 31, 2015 and allow until April 15, 2016 for the completion of an alternative interim financing transaction in the minimum amount of US$15 million (the “2016 Financing”), following which the Loan Agreement will be in good standing;

b) reduce the minimum working capital requirement from US$10 million to US$5 million; and

c) subject to certain conditions, including depositing all loan interest cash payments due in 2017 into an escrow account by December 31, 2016, extend the project construction drawdown conditions by a further 12 months to December 31, 2017.

Red Kite has advised that, subject to certain conditions, it will subscribe for up to US$2 million of the 2016 Financing.

If the Company does not complete the 2016 Financing by April 15, 2016, all amounts outstanding under the Loan Agreement will be immediately due and payable by the Company and Red Kite will be in a position to exercise all remedies available to it under the Loan Agreement and related security agreements.

2. Offtake Buyback. In connection with the initial execution of the Loan Agreement, the Company entered into an offtake agreement (the “Offtake Agreement”) pursuant to which Red Kite, assuming the full $200 million drawdown, would have the right to purchase up to 74.5% of the copper concentrates produced from the underground deposits at the Pumpkin Hollow Project. Red Kite’s percentage offtake right is pro-rated based on the principal amount drawn under the Loan Agreement, and based on current drawdowns, Red Kite has the right to purchase 33.5% of copper concentrate production from the underground deposits. The Company has agreed to buy and Red Kite has agreed to sell its rights under the Offtake Agreement for US$10 million, which will be funded by an additional draw under the Loan Agreement. The offtake buy-back reduces the percentage of the offtake from the Pumpkin Hollow underground deposits allocated to third parties from 59% to 25.5%. Copper concentrates to be derived from ores of the larger open pit deposits remain 100% uncommitted.

The $10 million offtake buyback price will allow for lowered smelter charges and better copper price certainty on this portion of the concentrates while also providing improved financial returns upon commencement of commercial production.

The Agreement includes customary provisions for such agreements, including additional restrictive covenants applicable until the completion of the 2016 Financing.

Despite challenging capital and commodity market conditions, the Company’s Pumpkin Hollow Copper Project represents an attractive, “shovel-ready” fully permitted copper project located in and ideal mine friendly location. Pumpkin Hollow is located entirely on private land close to infrastructure with all required power and water supplies secured.

Giulio Bonifacio, the CEO of Nevada Copper commented on the Agreement: “Nevada Copper is pleased to have the continued support of Red Kite. Red Kite continues to work with the Company and has made favorable amended loan terms including a further 12 month extension that give recognition to the current commodity markets. This extension is subject to ensuring adequate working capital in 2016 and will allow the necessary additional time to facilitate a strategic review process leading to a transaction that maximizes value for all stakeholders. We also view the offtake buyback as an extremely positive development that improves the overall smelter terms and reduces copper pricing risk.”

Strategic Alternatives
With the goal of maximizing value to our shareholders, the Company plans to engage an adviser to present and consider all strategic alternatives available to it. A Special Committee of the Board consisting of independent directors has been appointed to review and evaluate all value-add strategic alternatives. The study of strategic alternatives will be broad, and could include, but not be limited to, a strategic investment in the Pumpkin Hollow Project or the Company by a third party, a joint venture arrangement, the sale of all or a portion of the project, a sale of the Company, a business combination with another entity, or some combination of the foregoing.

Over the past several months, the Company has conducted discussions and executed confidentiality agreements with a number of interested parties regarding potential strategic alternatives and will continue to advance those discussions.

At present, there can be no assurance as to what, if any, strategic alternatives might be pursued by the Company. The Company does not intend to disclose further details with respect to its review of strategic alternatives unless and until the board of directors has approved a specific transaction or otherwise determines that further disclosure is warranted.

2016 Project Optimization
During 2016, management will focus on maintaining the Project’s “construction ready” status. In addition, subject to financing, management will consider alternate project development plans that would evaluate a smaller initial development of the open pit deposit that targets higher grade areas of the deposits first, followed by possible expansion at a later date. Value engineering and further project optimization will be part of this project re-assessment process that is currently underway.

 

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: the completion of the 2016 Financing, the cure of any default under the Loan Agreement, the continued forbearance of Red Kite, and any statements regarding revised development plans at the Pumpkin Hollow property or the future completion of any strategic transaction, as well as the Company’s plans in general.

Forward-looking statements or information relate to future events and future performance and include statements regarding the expectations and beliefs of management. 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 actual results to be materially different from any anticipated 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: conditions in debt and equity financing markets and the challenges of the Company completing the 2016 Financing on or before April 15, 2016 on acceptable terms or at all in the current commodity market, future metals price fluctuations, ongoing low commodity prices for copper, silver and gold, requirements for additional capital; loss of its material properties; interest rates increase; global economy risks; risks related to mineral production; 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

Pumpkin Hollow Copper Project – “shovel-ready” fully permitted copper project located entirely on private land close to infrastructure with all required power and water supplies secured.

NCU-CorpPresentation-Pg8Nov2015Final-gmf (3)

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

 

FlagOntop

City of Yerington , Mayor George Dini signs the

City of Yerington, Mayor George Dini signs the land patent.  Left to right is Nevada Copper’s Vice President of Operations, Tim Arnold, Nevada Copper’s Vice President of Exploration & Project Development, Greg French, City of Yerington Mayor, George Dini, Lyon County Manager, Jeff Page and City of Yerington Manager, Dan Newell.

 

NEWS RELEASE

TSX: NCU

FEDERAL LAND CONVEYANCE COMPLETE

AT NEVADA COPPER’s PUMPKIN HOLLOW PROJECT 

 August 21, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce the completion of the Yerington Land Conveyance (the “Conveyance”) of Federal land to the City of Yerington (the “City”), that encompasses the Company’s Pumpkin Hollow Copper Project (“the Project”).

On August 20, the Bureau of Land Management (“BLM”) signed a deed of sale that conveys 10,058 acres (final surveyed acres) of federal land to the City. The appraised fair market value of US$1.8 million has been fully funded by Nevada Copper.

Pursuant to a pre-existing agreement between the Company and the City, the City will re-convey 9,130 acres of the acquired land to Nevada Copper.  The final steps between the Company and City to convey the required land to Nevada Copper (completing the subdivision map) are now entirely administrative. The City has advised Nevada Copper that it can immediately proceed with any work necessary to develop the Project.

The newly-acquired land, combined with Nevada Copper’s existing 1,550 acres of private land, places the entire integrated open pit and underground mine on 10,680 acres of private land owned by the Company and allows the Project to be constructed and operated with its current, approved Nevada State permits.

Giulio Bonifacio, President and CEO commented: Completion of the federal land conveyance, combined with the recent receipt of all state permits completes a process that achieves a significant project milestone that further de-risks the Project. With all permits in hand and land title aspects complete, Nevada Copper will focus on financing options as it now can begin construction of any or all components of the Project.

 Additional Information

The Project, located near Yerington Nevada, is 100%-owned by Nevada Copper. The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounce ounces of gold and 27.6 million ounces of silver. In June 2015 the Company completed an Integrated Feasibility Study to construct and operate a 70,000 tons per day open pit and underground mine. The Company continues to advance financing options and expects that completion of the Conveyance will significantly enhance those opportunities.

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 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

 

MineSite20150306NEWS RELEASE

TSX: NCU

NEVADA COPPER FULLY PERMITTED 

 August 17, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is pleased to announce that it is now fully permitted for construction and operation of a 70,000 tons per day integrated open pit and underground mine at its Pumpkin Hollow Copper Project (“the Project”).

On August 9, 2015, the appeal period for the outstanding revised reclamation permit expired.  No appeals were filed and this final permit is now effective as of August 14, 2015. The revised reclamation permit was the final outstanding permit required for construction and operation of the Project.

Giulio T. Bonifacio, President and CEO commented: “Achievement of a fully permitted project is an enormous achievement and, for Pumpkin Hollow, is the culmination of years of effort by many people.

“Pumpkin Hollow has a long life and low operating cost, confirmed by our recently-completed Integrated Feasibility Study with additional upside as demonstrated by recent drilling results.  What makes Pumpkin Hollow truly unique, however, is that it is now a fully-permitted copper project located in Nevada – one of the best mining jurisdictions in the world.  This makes Pumpkin Hollow an attractive and scarce copper asset.”

Additional Information

The Project, located near Yerington Nevada, is 100%-owned by Nevada Copper. The Project currently has proven and probable reserves of 5.05 billion pounds of copper, 760,585 ounce ounces of gold and 27.6 million ounces of silver. The Company continues to advance financing options and expects that these developments will further enhance those opportunities.

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

 

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.

 

 

PumpkinHollowNEWS RELEASE

TSX: NCU

NEVADA COPPER RECEIVES DECISION RECORD ON

YERINGTON LAND CONVEYANCE

 July 17, 2015 – Nevada Copper Corp. (TSX: NCU) (“Nevada Copper” or the “Company”) is very pleased to provide an update on progress of the Yerington Land Conveyance.

On July 16, 2015, the Federal Bureau of Land Management (“BLM”) issued a Finding of No Significant Impact (“FONSI”) and issued a Decision Record with respect to the congressionally-mandated conveyance of lands to the City of Yerington.  Upon completion of a 30-day notice period, the BLM will be able to issue a “patent” to the City of Yerington.  A patent document records the sale of land from the Federal government to another entity, in this case, the City of Yerington and is the deed that permanently transfers all right, title and interest to municipal, and ultimately private ownership, no longer subject to federal permitting.

The land conveyance was authorized on December 19, 2014 in Section 3009 of the National Defense Authorization Act.  This legislation directed the sale of approximately 10,000 acres of land, for fair market value, from the federal government to the City of Yerington (“Yerington” or “City”).  In order to execute the conveyance, the BLM needed to complete a number of administrative steps including an environmental assessment, cultural resource study, land boundary survey, identification of any valid and existing rights, a land appraisal and patent documents. Issuance of the FONSI and Decision Record is the final step before patents are issued.

 Timothy M. Dyhr, Vice President Environment and External Relations, commented, “Issuance of the FONSI and Decision Record was the culmination of an extraordinary effort by a BLM interdisciplinary resource team supported by external experts, the City, and Nevada Copper.”

Based upon the land boundary surveys performed by BLM, the final acreage to be conveyed is 10,050 acres. Under an agreement with the City, Nevada Copper will be deeded approximately 9,100 acres for mine and other development at no additional cost.  Combined with 1,550 acres of private lands it currently controls, the Company will have approximately 11,600 acres (18.1 square miles) of private land that encompasses 100% of the current proposed Integrated Project (see News Releases dated May 28, 2015 and July 9, 2015). In addition, the Company controls 4,740 acres of unpatented mining claims outside conveyance area, for a total land position of 15,420 acres (25.5 square miles).

Once the land has been conveyed, Nevada Copper can proceed to develop the large 70,000 tons/day Integrated Project, subject to financing and State of Nevada permits and regulations. In this regard, Nevada Copper has already obtained permits from the Nevada Division of Environmental Protection, including two water pollution control permits that cover underground and open pit processing components of the Integrated Project; and, a reclamation permit and an air permit for the underground mine that are currently being amended to include the Integrated Project open pits and the 70,000 ton per day process facility.

 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 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

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