Growing copper resources outlined in Bornite report

NovaCopper Inc. May 16 filed a National Instrument 43-101-compliant technical report that describes 913 million pounds of indicated copper and 5.45 billion lbs. of indicated copper identified, so far, at the Bornite project in Northwest Alaska.

This marks a 410 percent increase in indicated copper and 517 percent increase in inferred copper since NovaCopper had its first resource calculated for Bornite in 2012.

At a 0.50 percent copper cut-off grade, Bornite is estimated to contain 40.5 million metric tons of in-pit indicated resources averaging 1.02 percent (913 million lbs.) copper for 913 million pounds of contained copper; and 84.1 million metric tons of in-pit inferred resources averaging 0.95 percent (1.8 billion lbs.) copper.

Additionally, at a 1.5 percent copper cut-off grade, Bornite is estimated to contain 57.8 million metric tons of below-pit inferred resources averaging 2.89 percent (3.7 billion lbs.) copper.

"The resource model also shows that there is ample room to expand the resources adjacent to the current in-pit endowment, as well as down dip to the north and east of the below-pit resources," NovaCopper President and CEO Rick Van Nieuwenhuyse said when the resource was reported in April.

Details of the resources and expansion potential can be found in the report, which is available under NovaCopper's profile on SEDAR and EDGAR; as well as http://www.novacopper.com.