Seeking Alpha
0
All posts from Seeking Alpha
Seeking Alpha in Seeking Alpha - Read, Decide, Invest.,

Update: Nevsun Doubles The Size Of Its Indicated Resources, Inferred Resources Grow 18-Fold

Nevsun Resources (NYSEMKT:NSU) just announced a resource estimate update at its Bisha and Harena deposits based on 2014 drilling.

The results were exceptional: the company said its measured and indicated resource base now contains 1.2 billion pounds of copper, 3.4 billion pounds of zinc, 750,000 ounces of gold and 42 million ounces of silver. Inferred resources contain 237 million pounds of copper, 757 million pounds of zinc, 311,000 ounces of gold and 11 million ounces of silver. In total, the indicated resources doubled in size, while inferred resources grew 18-fold from the previous estimate. What's arguably even more impressive is the fact that the estimated cost of discovery at Harena has been $.02 per pound copper and $.01 per pound zinc, according to the company's CEO Cliff…