Nevsun outlines sizable gold resource at Tabakoto and Kubi in West Africa

Drill programs at the Tabakoto project in Mali and the Kubi in Ghana have enabled Nevsun Resources (NSU-T) to calculate preliminary gold resources of 2.7 million oz.

The Vancouver-based junior, which has been exploring in Africa for four years, holds a 90% interest in both projects.

At Tabakoto, preliminary estimates have established a measured and indicated resource of 4.4 million tonnes grading 7.2 grams gold per tonne, based on 91 diamond drill holes and a cutoff grade of 3 grams. All high-grade values were cut to 60 grams.

With an additional inferred resource of 2.9 million tonnes grading 2.17 grams, total contained gold there is estimated at 1.17 million oz.

Gold mineralization is defined within a north-south trending porphyritic monzonite dyke over a strike length of 1,850 metres, and to a vertical depth exceeding 200 metres. Recent drilling has intersected mineralization as deep as 275 metres, and Nevsun believes it can calculate a resource as deep as 400 metres.

A second drill rig will test the system to depths of 600 metres in early 1997. In addition, the Tabakoto deposit hosts several high-grade cross structures that have yet to be fully evaluated.

Previous exploration by BHP Minerals at the Kubi deposit, which is situated in the Ashanti goldbelt, outlined a potential oxide gold resource amenable to open-pit methods of 3.4 million tonnes grading 2.14 grams.

With an interest in the deposits underground sulphide potential, Nevsun drilled over a strike length of 1,300 metres and to a depth of 500 metres.

The company believes mineralization continues below 1,000 metres.

Based on 72 diamond drill holes and a 3-gram cutoff, measured and indicated resources are calculated at 5.2 million tonnes grading 7.6 grams. Contained gold at Kubi is estimated at 1.5 million oz.

In 1997, Nevsun expects to spend $24 million on exploration at the Kubi and Tabakoto deposits and initial exploration at Ghana’s Gemap project and Mali’s Kakadian project.