VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/09/13 -- Nevsun Resources Ltd. (TSX: NSU)(NYSE MKT: NSU) -
Q2 2013 OPERATING HIGHLIGHTS
-- Safety milestone reached - 12 million man hours without a lost time injury-- Gold production of 34,900 ounces in line with guidance-- Copper expansion project completed on-time and under budget-- Copper plant commissioning with pyrite sand on schedule-- Milled 455,000 tonnes at 2.75 g/t gold and 80% recovery
Nevsun Resources Ltd. is pleased to announce gold production results of 34,900 ounces for the quarter ending June 30, 2013, in line with 2013 production guidance of 110,000 ounces of gold in addition to 30,000 to 50,000 pounds of copper in concentrate.
A summary of the Company's second quarter operating results are as follows:
Q2 2013 Q1 2013 Year-to-Date 2013 3 months ending 3 months ending 6 months ending June 30 March 31 June 30Mining Ore mined, tonnes(1) 425,000 475,000 900,000 Waste mined, tonnes 1,647,000 1,925,000 3,572,000 Strip ratio (calc in BCM's) 4.5 5.1 4.8Milling Ore milled, tonnes 455,000 432,000 887,000 Feed grade, g/t 2.75 4.14 3.43Processing Recovery % of gold 80% 79% 79% Gold in dore, ounces poured 34,900 42,300 77,200 Gold ounces in PM(2) concentrate 2,700 - 2,700 Silver ounces in PM(2) concentrate 277,000 - 277,000(1) Q2 2013 mining tonnage includes both oxide ore from Harena (249,000tonnes) and from Bisha Main pit (176,000 tonnes) of which the latter isinclusive of the transitional pyrite sands ore (93,000 tonnes)(2) PM is the precious metals concentrate produced from flotation of 56,000tonnes transitional pyrite sand materials with the tails from this flotationdirected to the CIL for gold in dore ounces poured
Cliff Davis, President and CEO stated: "We are particularly proud of the safety record at the Bisha Mine, with a milestone of 12 million man hours achieved without a lost time injury. The last LTI was in Q4 of 2011."
Waste mined in the quarter was 1,675,000 tonnes for a strip ratio of 4.5 to 1 by volume. Waste stripping remains behind plan however this is not expected to have an adverse impact on copper production through to the end of 2014. Actions are in place to rectify the underlying equipment delivery and maintenance issues. The northeast layback has been delayed such that the oxide ore below the northeast wall will likely be mined and stock piled for processing in future years. The Company's 2013 guidance remains unchanged.
The 455,000 tonnes milled was inclusive of 56,000 tonnes of the transitional pyrite sand ore processed commencing June 15, 2013. Pyrite sand processing, which serves to partially commission the copper flotation plant, is progressing to plan with minor problems rectified. To date, the pyrite sand is performing to expectations for metallurgical performance.