Nevsun increases mineable reserves at Bisha by 40% using updated metal prices

Marketwire | March 28, 2011 | 2:59 pm Base Metals Precious Metals Africa Gold Zinc 
Bisha project Nevsun Resources Eritrea

Nevsun Resources Ltd. (TSX:NSU)(NYSE Amex:NSU) is pleased to announce the revised reserve estimate for its Bisha mine in Eritrea. The revised estimate has increased the total proven and probable reserves to 28.3 million tonnes from the previously reported 20.1 million tonnes (2006 feasibility study). The net impact of higher throughputs and lower cut-off grade has resulted in an extended mine life of 13 years, while increasing previously reported robust cash flow.

Highlights

  • 40% increase in reserves, using $1,015/oz gold, $15.85/oz silver, $2.40/lb copper, $0.92/lb zinc
  • 20% increase in ore throughput starting in 2013
  • Bisha 13 year undiscounted cash flow now totals $2,162,000,000
  • Upgrade does not include pit expansion at depth, hanging wall copper zone or the Harena satellite deposit

Read the full press release here.

Image of Bisha project in Eritirea from Nevsun Resources.

Mining.com Recommends

More News