Business
NovaCopper Reports Significantly Increased Resources at Bornite Deposit: 5.7 Billion Pounds of Copper Inferred and 334 Million Pounds of Copper Indicated
In-Pit Indicated Resources of 14.1 million tonnes at an average grade of 1.08% copper co...
About this update from Trilogy Metals Inc.
[{"type":"text","content":"\n\n\n\nIn-Pit Indicated Resources of 14.1 million tonnes at an average grade of\n 1.08% copper containing 334 million pounds of copper at a 0.5% copper\n cutoff\n\n\nIn-Pit Inferred Resources of 109.6 million tonnes at an average grade of\n 0.94% copper containing 2.3 billion pounds of copper at a 0.5% copper\n cutoff\n\n\nBelow-Pit Inferred Resources of 55.6 million tonnes at an average grade\n of 2.81% copper containing 3.4 billion pounds of copper at a 1.5%\n copper cutoff\n\n\nThe latest resource estimate represents an 87% increase in contained\n copper in Indicated Resources and a 73% increase in contained copper in\n Inferred Resources at the Bornite Project\n\n\nMineralization remains wide open in multiple directions \n\n\n\n\n\n\nTSX, NYSE-MKT \nSymbol: NCQ\n\n\nVANCOUVER, March 18, 2014 /CNW/ - NovaCopper Inc. (TSX, NYSE-MKT: NCQ) (\"NovaCopper\" or \"the Company\") is pleased to\n announce the release of an updated National Instrument 43-101 (\"NI\n 43-101\") compliant resource estimate for the Bornite deposit for its\n Upper Kobuk Mineral Projects (\"UKMP\") located in the highly prospective\n Ambler mining district of northwest Alaska. This release incorporates\n the results of the 2013 core drilling and assaying of previously\n un-sampled or partially sampled historical Kennecott drill core. The\n previous mineral resource estimate was described in the previous\n Technical Report for the Bornite Deposit, South Reef and Ruby Creek\n Zones, prepared for NovaCopper by BD Resource Consulting Inc. (\"BDRC\")\n and Sim Geological Inc. (\"SGI\") which was made public on February 8,\n 2013 and has an effective date of January 31, 2013.\n\n\nHighlights\n\n\n\nAt a base case 0.50% copper cutoff grade, the Bornite Project is\n estimated to contain in-pit Indicated Resources of 14.1 million tonnes at 1.08% copper or 334 million lbs of contained copper (see Table 1 for details).\n\n\nAt a base case 0.50% copper cutoff grade, the Bornite Project is\n estimated to contain in-pit Inferred Resources of 109.6 million tonnes at 0.94% copper or 2.3 billion lbs of contained copper (see Table 1 for details).\n\n\nAt a base case 1.50% copper cutoff grade, the Bornite Project contains\n below-pit Inferred Resources of 55.6 million tonnes at 2.81% copper or 3.4 billion lbs of contained copper (see Table 2 for details).\n\n\nContained coppe...