Nevsun Resources Ltd.: Initial Assay Results from the 2005 Drill Program at the Augaro Property, Eritrea.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Nevsun Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :NSU NSU Nonspecific urethritis, see there )(AMEX AMEX See: American Stock Exchange :NSU) ("The Company") is very pleased to announce the initial assay results from the first drill program on its Augaro gold property located in western Eritrea. Highlights include: AUGARO TARGET Hole A-01 intersected 7.1 meters averaging 28.62 g/t Au and 4.2 meters averaging 15.25 g/t Au DAMISCIOBA TARGET Hole D-03 intersected 2.5 meters that averaged 5.51 g/t Au Hole D-05 intersected 4.1 meters that averaged 5.68 g/t Au Hole D-06 intersected 8.5 meters that averaged 3.42 g/t Au The Augaro and Damiscioba mines were the largest operating gold mines in Eritrea during the 1930's when they were under Italian management. Past production records are reported to have been destroyed resulting in uncertainty about past gold production and mined grades. Written reports by an Italian geologist in the 1930's that do exist indicate that the Augaro deposit mined a quartz quartz, one of the commonest of all rock-forming minerals and one of the most important constituents of the earth's crust. Chemically, it is silicon dioxide, SiO2. vein over a distance of 600-700 meters and to a depth of 100 meters. It is further reported that the Damiscioba Mine, located 3.0 kilometers to the southwest of Augaro Mine, was mined over a length of 400-600 meters on three levels. The quartz veins are reported to be 1.5 meters thick with some sections being up to 6.0-7.0 meters. Gold grades at surface were said to average 15.0 g/t Au. The gold deposits both used a common mill facility, the ruins
Ruins is a term used to describe the remains of man-made architecture: structures that were at one time complete but which have either been deliberately of which are still standing. The property had previously been held by Anglo American and Timmins Resource Ventures and was acquired by Nevsun in 2003. Anglo American had completed some preliminary geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. mapping and stream sediment sediment, mineral or organic particles that are deposited by the action of wind, water, or glacial ice. These sediments can eventually form sedimentary rocks (see rock). sampling. Nevsun has subsequently carried out additional stream sediment sampling and regional mapping to define more specific target areas. The Company subsequently established a line grid over the mine areas and completed detailed mapping, soil sampling and geophysical surveys Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. in the form of magnetometer and gradient gradient In mathematics, a differential operator applied to a three-dimensional vector-valued function to yield a vector whose three components are the partial derivatives of the function with respect to its three variables. The symbol for gradient is ∇. array IP/resistivity. The objective of the 2005 drill program was to test beneath the old Italian underground workings and determine the style and grades of any gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . Augaro and Damiscioba Assay Results Significant intersections over 0.5 g/t Au include: ----------------------------------------------------------- Hole # From To Length (m) Au g/t Azimuth Dip ----------------------------------------------------------- A-01 37.0 40.5 3.5 1.51 320 -55 ----------------------------------------------------------- And 71.9 79.0 7.1 28.62 ----------------------------------------------------------- And 92.5 98.0 5.5 3.19 ----------------------------------------------------------- And 149.8 154.0 4.2 15.25 ----------------------------------------------------------- And 157.0 164.5 7.5 1.64 ----------------------------------------------------------- A-02 84.5 86.0 1.5 0.83 144 -45 ----------------------------------------------------------- And 118.3 119.4 1.1 5.11 ----------------------------------------------------------- And 180.1 181.0 0.9 0.58 ----------------------------------------------------------- And 215.5 217.0 1.5 1.12 ----------------------------------------------------------- A-04 103.0 104.5 1.5 0.57 322.5 -50 ----------------------------------------------------------- And 112.0 113.5 1.5 0.78 ----------------------------------------------------------- And 116.5 117.5 1.0 0.58 ----------------------------------------------------------- A-07 11.9 13.6 1.7 0.86 322.5 -50 ----------------------------------------------------------- And 21.7 25.0 3.3 0.68 ----------------------------------------------------------- And 35.2 37.2 2.0 0.52 ----------------------------------------------------------- And 55.0 55.6 0.6 1.96 ----------------------------------------------------------- And 95.5 97.8 2.3 0.92 ----------------------------------------------------------- D-03 132.6 136.1 2.5 5.51 172.5 -45 ----------------------------------------------------------- D-05 127.3 129.2 1.9 1.63 170 -50 ----------------------------------------------------------- And 134.0 138.1 4.1 5.68 ----------------------------------------------------------- D-06 132.7 141.2 8.5 3.42 170 -45 ----------------------------------------------------------- Holes A-03, A-05, A-06, D-01, D-02 and D-04 all intersected quartz veining vein·ing n. Distribution or arrangement of veins or veinlike markings. and/or disseminated disseminated /dis·sem·i·nat·ed/ (-sem´i-nat?ed) scattered; distributed over a considerable area. dis·sem·i·nat·ed adj. Spread over a large area of a body, a tissue, or an organ. sulphides but returned no significant gold values. True widths of intersected mineralization are uncertain due to a lack of intersections up and down dip of any particular mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone. Bill Nielsen, P.Geo. and Nevsun's Vice-President of Exploration, the qualified person under National Instrument 43-101, supervised su·per·vise tr.v. su·per·vised, su·per·vis·ing, su·per·vis·es To have the charge and direction of; superintend. [Middle English *supervisen, from Medieval Latin and directed all work associated with the drilling program. Sample preparation and analysis were conducted at ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex of Vancouver, Canada. Eritrea Exploration Update The current exploration program in Eritrea is targeting two gold exploration properties, Okreb and AK, where approximately 4,000 meters of drilling will be carried out. Drilling activity at Okreb will be a continuation of the Spring 2005 program and initial drilling at AK will follow-up on targets identified by a recently completed IP/resisitivity geophysical survey. Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could case such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward looking statements in this release include statements regarding the continuing exploration program in country. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. NEVSUN RESOURCES LTD. Dr. John A. Clarke, President & Chief Executive Officer Nevsun Resources Ltd. (TSX:NSU) (AMEX:NSU) |
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