NEVADA COPPER CORP. SPECULATIVE BUY
(NCU - TSXV $2.10) Target: U/R
Market Capitalization (Basic) $75 Million
High Grades at Pumpkin Hollow…
Nevada Copper Corp. is a junior mining company focused on the exploration and development of the Pumpkin Hollow copper-iron project (100% owned; subject to a 6% NSR at current copper prices) located in the Yerington district of west-central Nevada. The Company acquired the rights to the project in December 2005 and completed a reverse-takeover for its listing in August 2006. Since then, it has carried out a drilling program consisting of infill and step-out drilling with two drill rigs operating around the clock.
In addition to the Company’s efforts, previous operators – beginning with US Steel in 1960 and thereafter Anaconda Copper, CONOCO, Plexus Resources and Cyprus Exploration – have collected voluminous data including that from over 180,000 metres of drilling. These
companies focussed on the potential for the property to support fundamentally different operations: US Steel considered an open pit primarily-iron mine while Anaconda Copper, CONOCO, and Cyprus considered an open pit copper mine.
We view a re-examination of the potential for an open pit operation, based upon the copper mineralization with possible credits coming from a by-product iron concentrate, as having merit in the context of current and long term projected metal prices. We caution clients that in such a scenario, we would look for the copper to carry the operating costs as metallurgical testing has not yet demonstrated a saleable iron concentrate. In any case, we are primarily
focussed on the potential for a high-grade underground bulk-mineable operation, at least as an initial means of getting Pumpkin Hollow into production.
Resources at Pumpkin Hollow, as released by the Company in June 2006, stand at 312 million tons at 0.44% copper and 12.3% iron in the measured and indicated categories from six mineralized zones. Additional inferred resources amount to a further 454 million tons at 0.37% copper and 8.2% iron. Clearly, a very large mineralized system exists at Pumpkin Hollow.
Within this mineralized system, we direct client’s attention to the Northwest zone and particularly the East and E-2 zones, which may ultimately prove to be part of a single, larger zone of mineralization. Using a 0.75% copper cut-off grade, the Northwest zone contains total resources of 13.9 million tons at 1.45% copper, the East zone contains 12.1 million tons at 1.45% copper, and the E-2 zone contains 11.0 million tons at 1.50% copper.
Recent drilling suggests that both the tonnage and grade of these zones may increase in future estimates. We would look for, in particular, the East and E-2 zones to be connected by similar
holes as NC06-03, which was drilled 300 metres north of the E-2 zone and 500 metres south of the East and intersected 16.5 metres of 2.00% copper. Step-out holes, such as NC07-02 (which intersected 30.5 metres of 2.16% copper, 30 metres to the east of KM-18, which in turn
intersected 28.9 metres of 3.98% copper) and NC07-05 (which intersected 12.3 metres of 4.1% copper and 17.6 metres of 3.4% copper, 30 metres to the northeast of historic drill hole KM-12,
which in turn intersected 17.4 metres of 2.3% copper), will expand the resources regardless.
Recommendation With Report To Follow
In light of our expectation for continued positive drilling results from the Pumpkin Hollow project, and more particularly from the Northwest, East and E-2 zones, we are initiating coverage on Nevada Copper Corp. with a SPECULATIVE BUY recommendation. We look forward
to continued drilling to potentially establish continuity between the East and E-2 zones and an improved resource estimate in Q4. Following a site visit and detailed review of the deposit block model, we will publish a more detailed report.
NEVADA COPPER CORP. SPECULATIVE BUY
(NCU - TSXV $2.10) Target: U/R
Market Capitalization (Basic) $75 Million
High Grades at Pumpkin Hollow…
Nevada Copper Corp. is a junior mining company focused on the exploration and development of the Pumpkin Hollow copper-iron project (100% owned; subject to a 6% NSR at current copper prices) located in the Yerington district of west-central Nevada. The Company acquired the rights to the project in December 2005 and completed a reverse-takeover for its listing in August 2006. Since then, it has carried out a drilling program consisting of infill and step-out drilling with two drill rigs operating around the clock.
In addition to the Company’s efforts, previous operators – beginning with US Steel in 1960 and thereafter Anaconda Copper, CONOCO, Plexus Resources and Cyprus Exploration – have collected voluminous data including that from over 180,000 metres of drilling. These
companies focussed on the potential for the property to support fundamentally different operations: US Steel considered an open pit primarily-iron mine while Anaconda Copper, CONOCO, and Cyprus considered an open pit copper mine.
We view a re-examination of the potential for an open pit operation, based upon the copper mineralization with possible credits coming from a by-product iron concentrate, as having merit in the context of current and long term projected metal prices. We caution clients that in such a scenario, we would look for the copper to carry the operating costs as metallurgical testing has not yet demonstrated a saleable iron concentrate. In any case, we are primarily
focussed on the potential for a high-grade underground bulk-mineable operation, at least as an initial means of getting Pumpkin Hollow into production.
Resources at Pumpkin Hollow, as released by the Company in June 2006, stand at 312 million tons at 0.44% copper and 12.3% iron in the measured and indicated categories from six mineralized zones. Additional inferred resources amount to a further 454 million tons at 0.37% copper and 8.2% iron. Clearly, a very large mineralized system exists at Pumpkin Hollow.
Within this mineralized system, we direct client’s attention to the Northwest zone and particularly the East and E-2 zones, which may ultimately prove to be part of a single, larger zone of mineralization. Using a 0.75% copper cut-off grade, the Northwest zone contains total resources of 13.9 million tons at 1.45% copper, the East zone contains 12.1 million tons at 1.45% copper, and the E-2 zone contains 11.0 million tons at 1.50% copper.
Recent drilling suggests that both the tonnage and grade of these zones may increase in future estimates. We would look for, in particular, the East and E-2 zones to be connected by similar
holes as NC06-03, which was drilled 300 metres north of the E-2 zone and 500 metres south of the East and intersected 16.5 metres of 2.00% copper. Step-out holes, such as NC07-02 (which intersected 30.5 metres of 2.16% copper, 30 metres to the east of KM-18, which in turn
intersected 28.9 metres of 3.98% copper) and NC07-05 (which intersected 12.3 metres of 4.1% copper and 17.6 metres of 3.4% copper, 30 metres to the northeast of historic drill hole KM-12,
which in turn intersected 17.4 metres of 2.3% copper), will expand the resources regardless.
Recommendation With Report To Follow
In light of our expectation for continued positive drilling results from the Pumpkin Hollow project, and more particularly from the Northwest, East and E-2 zones, we are initiating coverage on Nevada Copper Corp. with a SPECULATIVE BUY recommendation. We look forward
to continued drilling to potentially establish continuity between the East and E-2 zones and an improved resource estimate in Q4. Following a site visit and detailed review of the deposit block model, we will publish a more detailed report.
News 2:
Jun 14, 2007 09:00 ET
Nevada Copper Corp.: Intersects High Grade Copper Zone at Shallow Depth
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 14, 2007) - Nevada Copper Corp. (TSX VENTURE:NCU)(FRANKFURT:ZYT) ("Nevada Copper") is pleased to announce additional high grade copper results from on-going drilling at its 100% owned Pumpkin Hollow Copper Development Property located in Nevada. Drilling in the open pittable South Deposit intersected a large width of high grade copper mineralization at a relatively shallow depth.
NC07-18, a reverse circulation drill hole was designed to test the southwestern extension of the South Deposit. NC07-18 encountered a continuous high grade copper-gold zone starting at 43.5 meters (143 ft) below surface of 70.1 meters (230 ft) averaging 1.6% copper, 0.19 g/t gold, 8.4 g/t silver and 41.6% iron. NC07-18 was designed to offset the mineralization in nearby S93-14 (28.9 meters averaging 3.98% copper). The South Deposit mineralization continues to be open to the southwest. Prior to the start of this drilling program Nevada Copper reported a NI 43-101 compliant open pittable measured and indicated resource for the South Deposit of 37 million tons of 0.44% copper, in addition to 31 million tons of 0.42% copper of inferred resource at a 0.3% cutoff.
Other drill results reported include NC07-11 which targeted the northern extension of the E-2 mineralization. NC07-11 intersected 27.7 meters (91 ft) averaging 1.39% copper, 0.29 g/t gold and 9.4 g/t silver. Mineralization continues to be open to the north in the E-2 deposit. Also in the open pittable North Deposit, drilling of NC07-09 encountered copper mineralization which defines the southwestern boundary of the North deposit.
A plan map and cross sections for the deposits are available at www.nevadacopper.com. Drill results announced here represent true thicknesses.
SOUTH DEPOSIT - Assays greater than 0.3% Cu----------------------------------------------------------------------------------------------------------------------------------------------------Drill From To Length Length Copper Gold Silver IronHole # (m) (m) (m) (ft) (%) (g/t) (g/t) (%)--------------------------------------------------------------------------NC07-18 38.1 44.2 6.1 20 0.94 0.17 4.1 8.5--------------------------------------------------------------------------(-70 degrees) 50.3 120.4 70.1 230 1.60 0.19 8.4 41.6--------------------------------------------------------------------------
E-2 DEPOSIT - Assays greater than 1% Cu----------------------------------------------------------------------------------------------------------------------------------------------------Drill From To Length Length Copper Gold Silver IronHole # (m) (m) (m) (ft) (%) (g/t) (g/t) (%)--------------------------------------------------------------------------NC07-11 394.3 395.6 1.3 4.5 5.50 0.019 23.1 5.5-------------------------------------------------------------------------- 575.5 603.2 27.7 91 1.39 0.290 9.4 28.6-------------------------------------------------------------------------- 614.2 615.7 1.5 5 1.07 0.045 2.1 2.7-------------------------------------------------------------------------- 620.3 621.8 1.5 5 1.38 0.088 4.9 5.1--------------------------------------------------------------------------
NORTH DEPOSIT - Assays greater than 0.3% Cu----------------------------------------------------------------------------------------------------------------------------------------Drill From To Length Length Copper Gold SilverHole # (m) (m) (m) (ft) (%) (g/t) (g/t)--------------------------------------------------------------------NC07-09 338.9 340.5 1.5 5 0.36 0.002 0.8-------------------------------------------------------------------- 356.6 366.1 9.5 31 1.00 0.062 3.2--------------------------------------------------------------------Including 357.5 359.0 1.5 5 3.50 0.008 1.0--------------------------------------------------------------------Including 364.5 366.0 1.5 5 1.52 0.113 5.2--------------------------------------------------------------------
Based on the very successful step-out drilling results to date the drilling program has been expanded further to over 18,000 meters. The initial drilling program consisted of 12,000 meters.
To date, 30 holes have been drilled for a total of 15,000 meters. Of the 30 holes, results from 16 holes have been released to date. Future drilling results will be released as they become available.
These drilling results will be incorporated into an updated resource estimate to commence later in the month. The drilling program includes in-fill and step-out holes designed to both upgrade the current resource classifications for purposes of the feasibility study planned for 2007 and to test for further resource expansion down dip and along strike in areas where the deposits remain open.
About Nevada Copper
Nevada Copper is a well financed emerging copper company, responsibly developing the Pumpkin Hollow copper-iron property located in Western Nevada. In June 2006, a National Instrument 43-101 compliant resource estimate for the advanced-stage Pumpkin Hollow property was completed, as previously announced: At a 0.2% copper cutoff grade, the measured and indicated copper resource is 2.7 billion pounds of copper, contained in 312 million tons grading 0.44% copper and 12.3% iron. An additional inferred copper resource of 3.4 billion pounds of copper is contained in 454 million tons grading 0.37% copper and 8.2% iron.
Within these large resources is a significant high grade copper resource. Using a 0.75% copper cutoff grade, the measured and indicated resources contain 700 million pounds of copper in 25 million tons of material grading 1.45% copper and, in addition, the inferred resource contains 500 million pounds of copper within 17 million tons grading 1.5% copper. Over half of this high grade copper mineralization is contained in the East and E-2 deposits.
Nevada Copper has embarked on a systematic fast-track program to develop its advanced stage Pumpkin Hollow Property into Nevada's next copper mine. Concurrent with the resource delineation drilling program, metallurgical, geotechnical, hydrological and environmental baseline data is being processed. The current drilling program will support an updated resource estimate and economic feasibility study scheduled to commence in late 2007.
The Pumpkin Hollow project is under the supervision of Gregory French, CPG #10708, a Qualified Person as defined in Canadian National Instrument 43-101, who is responsible for the preparation of the technical information in this news release. All assaying and whole rock geochemistry is processed at the American Assay Laboratories (AAL) in Reno, Nevada. Samples are delivered from the project core logging facility to AAL by Nevada Copper or AAL personnel. A Quality Assurance and Quality Control Assay Protocol have been implemented whereby blanks and standards are inserted into the assay stream and check samples are sent to Chemex-Reno and Inspectorate-Reno laboratories.
Nevada Copper has 35.5 million shares outstanding and is well financed with no debt. For additional information about Nevada Copper please visit our website at www.nevadacopper.com.
NEVADA COPPER CORP.
Giulio T. Bonifacio, President & CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
For more information, please contact
Longview Capital Partners Incorporated
Eugene Toffolo
(604) 681-5755 or Toll Free: 1-877-687-5755
or
Nevada Copper Corp.
Susan L. Wilson
Corporate Communications
(604) 688-7508
(604) 681-0122 (FAX)
Email: info@nevadacopper.com
Website: www.nevadacopper.com
Eine gute News nch der anderen!!
ZYT Nevada Copper
und für mich ist das die canadische Aurelian.........also weiter Strong LOng
(kann man ja sehr gespannt sein wie es weiter geht...!) 
