Bor: Nevsun Mining invests in extraction of gold and copper

The Nevsun Mining Corporation has approved the budget for the conclusion of research into the precious metal deposits in the Bor area. The research is supposed to finish by September 2017, followed by the opening of a mine.

Canada-based mining company Nevsun, that recently purchased the exploration rights to the Čukara Peki deposits near Bor which is presumed to be the biggest global copper and gold resource, intends to complete the geological research by the end of next year after which the mine would be opened. The budget for these activities is set at 60 million USD and Nevsun plans to drill a total of 113km of bores followed by a feasiblity study and opening of the mine. Most of the exploitation of the gold and cooper ore here will be done at greath depth.

Parallel with this, Nevsun will also conduct complementary activities like acquiring permits for opening of the mine, buying the land, writing the environmental impact study, determining the exploitation modus, and processing of the extracted ore.

Nevsun will invest a total of 40 million in researching the upper zone of the Čukaru Peki deposits and will build 50,000 metres of bores. Along with their partners from the U.S. mining corporation Freeport Mc-Mo-Ran, Nevsun will also invest another 20 million USD in the bottom zone of the said deposits with the aim of building the additional 67,000m of bores.

The latest research has shown that a single deposit, at 179m depth, contains an 84-metre-thick layer comprising of 10.75% copper and 10.86 grams per ton of gold. Another deposit is even more valuable – the 46-metre-thick layer here contains an incredible 15.85% of copper and 16.77 grams per ton of gold.

(Vecernje Novosti, 06.10.2016)

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