Profile: Nevsun Resources Ltd (NSU.A)
Nevsun Resources Ltd. (Nevsun), incorporated on July 19, 1965, is a gold and base metal mining and exploration company. The Company, through its subsidiaries, is engaged in the acquisition, exploration, development and production of mineral properties. As of December 31, 2011, the Company’s portfolio consisted of the Bisha Property located in Eritrea, North-East Africa with gold, silver and base metal (copper and zinc) mineral resources and mineral reserves. The Bisha Property is located 150 kilometers west of Asmara, 43 kilometers southwest of the regional town of Akurdat, and 50 kilometers north of Barentu, the regional or Zone Administration Centre of the Gash-Barka District, in Eritrea, East Africa. As of December 31, 2011, Bisha was owned by Bisha Mining S.C. (BMSC), held 60% by the Company and 40% by Eritrean National Mining Corporation (ENAMCO). In February 2011, the Company began commercial production of gold in Bisha property. In October 2012, NGEx Resources Inc. sold its Hambok copper-zinc deposit to Bisha Mining Share Company.
During the year ended December 31, 2011, the Bisha Mine had produced 379,000 ounces of gold. The Bisha Property mineral resource contains three ore types: the gold and silver bearing oxide cap, underlain by the secondary copper ore, which is in turn underlain by the primary ore with chalcopyrite (Cu) and sphalerite (Zn) mineralization. The Company’s properties are located in western Eritrea, a country located in north-eastern Africa. The properties consist of a 53 square kilometers exploration license and a 39 square kilometers mining agreement area that is inclusive of a 16.5 square kilometers mining license. The Company’s all mineral properties are situated in Africa.
Nevsun Resources Ltd
760-669 Howe St.
VANCOUVER BC V6C 0B4