Profile: Nevsun Resources Ltd (NSU.A)
Nevsun Resources Ltd., incorporated on July 19, 1965, is a base metals company. The Company's two principal properties are the Timok Project in Serbia, which hosts the copper-gold Cukaru Peki deposit on the Brestovac-Metovnica Exploration Permit (the B-M Permit) and the Bisha Property in Eritrea, which hosts the copper-zinc-gold Bisha deposit and includes satellite volcanogenic massive sulphides (VMS) deposits at Harena, Northwest, Hambok and Asheli. In addition, the Company owns the New Mogoraib River Exploration License, which covers an area of 630 square kilometers and the Tabakin Exploration License covering 184 square kilometers both adjacent to the Bisha Mining License. In the fiscal year ended December 31, 2016, the Company had produced 56 million pounds of copper, as well as 90 million pounds of zinc from primary ore.
The Company's principal mining operation is the Bisha Mine, which is located on the Bisha Property. Bisha is a volcanogenic massive sulfide (VMS) deposit located 150 kilometers west of Asmara, Eritrea and East Africa. The Bisha Property covers an area of 46.5 square kilometers, which contains the Bisha Mine, and the Bisha Mining License and the Harena Mining License. The Bisha Main deposit is located within the Bisha Mining License and the Harena satellite deposit lies in a separate Mining License six kilometers south.
The Timok Project is located in eastern Serbia near the Bor Mining and Smelting complex. The Timok project is located within the central zone of the Timok Magmatic Complex (TMC), in the Serbian section of the East European Carpathian-Balkan Arc. The Timok Project is focused on the Cukaru Peki (Timok) deposit, which includes the high grade Upper Zone (characterized by massive and semi-massive sulfide mineralization) and the Lower Zone (characterized by porphyry-style mineralization). The Timok project consists of the Brestovac-Metovnica, Brestovac Zapad, Jasikovo-Durlan Potok and Leskovo exploration permits that are held by Rakita d.o.o., a subsidiary of the Company. The exploration permits cover an area of 212.58 square kilometers. As of December 31, 2016, the Upper Zone had copper and gold content consisting of 1.7 million tons of indicated resource grading 13.5% copper and 10.4 gram per ton (g/t) gold and 35 million tons of inferred resource grading 2.9% copper and 1.7 g/t gold.
Nevsun Resources Ltd
760-669 Howe St
VANCOUVER BC V6C 0B4