NovaCopper Provides Project and Corporate Update

NovaCopper (NYSEMKT:NCQ;TSX:NCQ) announced an update on its project and corporate activities.
As quoted in the press release:

Preparations are underway at the Bornite Camp to accommodate the 2016 field program on the Company’s 100%-owned Upper Kobuk Mineral Projects located in Northwest Alaska.  The majority of this year’s project budget of US$5.5 million is planned to be spent on a drilling program at the Arctic Project that will include approximately 3,000 meters of drilling for geotechnical, hydrological, waste rock characterization and metallurgical studies as well as further resource definition.  In addition to the drilling program, a series of environmental studies are planned for this year including an aquatic survey, avian and large mammal habitat survey and a continuation of baseline environmental information collection. The LiDAR survey that was incomplete last year due to weather conditions will be completed while the wetlands delineation and surface water quality work will be expanded.  This site investigation work will form the basis for completing a future pre-feasibility study on the Arctic deposit.  The exploration camp will host approximately 40 to 50 staff and contractors with the majority of the workforce hired locally and most of the work occurring from mid-June through mid-August.

NovaCopper President and CEO, Rick Van Nieuwenhuyse, stated:

We are extremely pleased with the progress made to advance the Upper Kobuk Mineral Projects over the past year considering market conditions.  Last year we completed the first phase of a multi-year site investigation program at the Arctic Project to support pre-feasibility. In addition, we reported a 173% increase in Indicated Resources at the Bornite Project.
While the majority of this year’s site investigation program will focus on the Arctic Project, the Company will also continue to improve our geological understanding of the regional exploration potential of the Ambler mining district through low-cost bedrock mapping within the Ambler schist belt and a deep penetrating soil geochemistry survey located immediately north and east of the current Bornite multi-billion pound copper resource. We also look forward to continuing to work closely with our partners at NANA to support training and hiring of the local workforce and with AIDEA to support their effort to build access to the Ambler mining district.

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