Noveder hits copper-gold at Baie Verte property

Geophysical surveys carried out on Newfoundland’s Baie Verte Peninsula have confirmed the presence of copper-gold mineralization at the Cabot project of Noveder (NED-M).

The program outlined a surface pulse-electromagnetic conductor that extends over a linear distance of 600 metres, to either side of a copper-cobalt showing discovered by PNL Ventures.

This conductive zone is less than 15 km from three known deposits: Terra Nova (257,417 tons at 2.41% copper and 1.68 oz. gold per ton); Ming (2 million tons at 3.7% copper and 2.4 oz. gold); and East Rambler (1.93 million tons at 1.04% copper).

Mineralization at the Cabot property is defined over a length of more than 1.4 km and a width of 300 metres.

Surface sampling over 400 metres along this mineralized structure returned values ranging from 1.13% to 6.8% copper. In addition, two short holes drilled by prospectors on the pyrrhotite-bearing zone hit 0.55% copper over 5.5 metres, including 0.04% cobalt over 0.5 metre and 0.51% copper over 6.5 metres, including 0.03% cobalt over 0.5 metre.