Early drilling finds copper at Nova Esperana

Preliminary drilling by Novicourt (NOV-T) and Falconbridge (FAL.LV-T, FAL-N) has intersected copper-gold mineralization in three areas on the Nova Esperana property in Para state, Brazil.

The drilling tested three of four targets that had been identified by airborne electromagnetic surveys supplemented by magnetic and geochemical data. Project operator Novicourt drilled nine holes for 2,300 metres.

Four holes on the Nova Esperana target, a 1.7-km-long geochemical anomaly in soils, cut mineralized core lengths of 7 to 18 metres, assumed to represent true widths of 5 to 14 metres based on dips seen in field mapping. Samples graded 0.2% to 0.42% copper, with trace gold credits.

At the Sao Jorge target south of Nova Esperana, four holes intersected grades of 0.1% to 0.2% copper, except in hole FSJ05-03, where a 22.1-metre intersection averaged 0.64% copper and a deeper 47.9-metre intersection averaged 0.55%. Both included higher-grade intervals.

A drill hole in the Uniao target, about 6 km west of Sao Jorge, cut a 7.6-metre interval grading 0.29% copper.

One other target, Morro Alto, remains to be tested, and Novicourt plans to do borehole electromagnetic surveys down the holes already drilled. Follow-up drilling is slated for Sao Jorge.