Description
Nevsun Resources Ltd. is a gold and base metal explorer/developer with a focus on developing mining projects in Africa. Nevsun is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea. The Bisha volcanic-associated massive sulphide (VMS) deposit is located in a newly discovered VMS district in western Eritrea. Nevsun completed a feasibility study for the Bisha project in late 2006. The Bisha Mining and Stability Agreements were signed in December 2007 and the Bisha Mining License was awarded in January 2008. The mining license covers an area of 16.5 square kilometers (includes the Bisha Main Zone deposit and the Northwest Zone deposit) within a mining agreement area of approximately 39 square kilometers. The Company retains an exploration license of approximately 94.5 square kilometers which includes the Harena deposit.
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Company Statement:
Nevsun Resources Ltd. is a junior gold & base metals explorer/producer with a focus on developing the Bisha project in Africa
Nevsun's Mission Statement:
To maximize asset growth and shareholder value through the successful acquisition, exploration and development to production of gold and base metal properties
Nevsun Resources Ltd. is a gold and base metal explorer/developer with a focus on developing mining projects in Africa. Nevsun is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea.
The Bisha volcanic-associated massive sulphide (VMS) deposit is located in a newly discovered VMS district in western Eritrea. Nevsun completed a feasibility study for the Bisha project in late 2006. The Bisha Mining and Stability Agreements were signed in December 2007 and the Bisha Mining License was awarded in January 2008. The mining license covers an area of 16.5 square kilometers (includes the Bisha Main Zone deposit and the Northwest Zone deposit) within a mining agreement area of approximately 39 square kilometers. The Company retains an exploration license of approximately 94.5 square kilometers which includes the Harena deposit.
With recent advances in preliminary and detailed engineering design at Bisha, an update to capital costs (approx. US$250m) and a revised financial model (approx. 1.2 years payback at current metal prices), the Company is entirely focused on advancing the Bisha Project to production by early 2010. Nevsun and its partner, ENAMCO (Eritrean National Mining Corporation) expect to finance the Bisha Mine using their existing cash resources and debt financing.
The Bisha Mine will be a low cost gold producer for its first two years of production (approx. 430,000 ounces gold per year) and a low cost high grade copper concentrate producer (containing approx. 75,500 tonnes of contained copper metal per year) for a further three years. Thereafter the mine will produce separate zinc and copper concentrates.
The Company's Eritrean portfolio provides a good base for future corporate growth.
Current Operations:
Nevsun Resources is currently focused on advancing its high grade gold, copper and zinc Bisha Project in Eritrea. The Bisha volcanic-associated massive sulphide (VMS) deposit is located in a newly discovered VMS district in western Eritrea. A mining license was issued for the project in early January 2008 covering an area of 16.5 square kilometers within a mining agreement area of approximately 39 square kilometers and includes the Bisha Main Zone deposit and the Northwest Zone deposit. The Company retains an exploration license of approximately 94.5 square kilometers, including the Harena deposit.
The Company's Eritrean portfolio provides a good base for future corporate growth.
Bisha, Eritrea
Bisha is a large precious metal and base metal-rich volcanogenic massive sulphide (VMS) deposit located in a newly discoverd VMS district in western Eritrea. Suggested models for the deposit include felsic dominated bimodal-siliclastic VMS and Noranda/Kuroko type deposits and a comparison has been made to the Matagami VMS district in Quebec. Read More
Map of Eritrea showing the location of the Bisha property.
Landsat image of the Bisha property showing the Bisha Main, NW Zone and Harena Deposits.
Management
R. Stuart (Tookie) Angus: Director, Chairman
John A. Clarke: Director, Vice-Chairman
Cliff T. Davis: Director, Chief Executive Officer
Robert J. Gayton: Director
Gary E. German: Director
Gerard E. Munera: Director
To view more Information on Mangement Click here
Major Shareholders
For investor information click HERE
Contact Information
Head Office
Suite 800, 1075 West Georgia Street
Vancouver, BC, V6E 3C9
Canada
Tel: (604) 623-4700
Toll Free: 1-888-600-2200
Fax: (604) 623-4701
Email: nevsuninfo@nevsun.com
Corporate Information
Investor Relations
John Clarke
(604) 623-4700
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