Lundin Mining Corporation Discovers New Copper-Rich Massive Sulphide Deposit at Neves-Corvo Mine in Portugal

Strategic Insights -

Lundin Mining Corporation has announced the discovery of a new copper-rich massive sulphide deposit, the Semblana deposit, at its 100% owned Neves-Corvo mine in southern Portugal. This significant event marks the sixth major sulphide deposit discovered at the mine, adding to the existing Neves, Corvo, Graca, Zambujal, and Lombador sulphide deposits. The new deposit is located approximately 1.3 km northeast of the Zambujal orebody and has been confirmed through surface exploration drilling.

Key Takeaways:

  • The Semblana deposit is a significant discovery, demonstrating that new high-grade copper deposits of the caliber of the original discoveries can still be found at Neves-Corvo.
  • Exploration drilling has outlined an area of at least 600 meters by 250 meters of massive sulphide + stockwork mineralization in 7 drill holes.
  • Drill intersections suggest that the Semblana deposit is geologically similar to the high-grade Corvo orebody, with high copper grades intercepted, including 36.5 meters grading 1.4% copper, including 6.0 meters grading 3.4% copper and 2.6% zinc.
  • Additional BHEM surveying indicates that the conductive sulphide mineralization has significant size potential, with four drill rigs currently delineating the extent of this new discovery.
  • Sampling and analytical protocol includes logging, cutting, and sampling of NQ-sized drill core, analyzing for a suite of elements including Zn, Cu, Pb, and Sn at the Neves-Corvo laboratory using XRF methods.
  • The Qualified Person, Bob Carmichael, P.Eng., General Manager, Resource Exploration, has reviewed and approved the technical information contained in this release.

Statistics:

  • 6th sulphide deposit discovered at the Neves-Corvo mine
  • 7 drill holes outlining an area of at least 600 meters by 250 meters of massive sulphide + stockwork mineralization
  • 36.5 meters grading 1.4% copper, including 6.0 meters grading 3.4% copper and 2.6% zinc
  • High copper grades intercepted in holes PSL48, PSL48-1, and PSK50-1
  • 4.0 meters grading 4.6% copper in hole PSL48A-1
  • 21.0 meters grading 4.2% copper in hole PSK50-1

Sources:

  • Lundin Mining Corporation (TSX: LUN)(OMX: LUMI) ("Lundin Mining" or the "Company")
  • Marketwire (via COMTEX)
  • Neves-Corvo mine in southern Portugal
  • October 27, 2010