DRAGOON, Ariz., July 20, 2004 (PRIMEZONE) -- Nord Resources Corporation (Pink Sheets:NRDS) today announced its initial exploration activities at the Johnson Camp Copper Mine have generated the following positive results.
Exploration West on Trend from the Copper Chief Pit
Two areas of interest have been identified west of the Copper Chief Pit. The first area, a silicified, resistant tactite hill with iron gossan after sulfides 2,100 feet west, exhibits favorable alteration and remnant copper oxide showings. The second area, approximately 4,100 feet west of the Copper Chief Pit, is a massive skarn block prospective for disseminated copper mineralization. Reconnaissance geology, a geo-chemical sampling program, and additional chip sampling to develop drill targets are scheduled to begin immediately along this trend.
Peabody Mine Area, High Grade Copper Mineralization
A detailed review of the existing exploration drill-hole data in the area north of Johnson Camp has generated significant interest at the old Peabody Mine for high grade copper mineralization. In 1971, Cyprus Mines Corporation drilled hole number BP-71 near the Peabody Mine. As reported by Cyprus, this drill hole intercepted 4 feet of mineralization, from 317 feet to 321 feet, grading 10.53% copper, 1.61% zinc and 7.60 ounces silver per ton. A geological review of this area continues with the objective of developing high grade drill targets. The Peabody Mine is located 4,000 feet north of the existing Burro Pit and 600 feet south of the Strong-Harris copper deposit.
Texas Arizona Mine Option and Claim Staking
The Texas Arizona Mine is located 4 miles southeast of the Johnson Camp Mine on the flank of the Gunnison Hills. Nord has recently concluded an option to acquire several mining claims at Texas Arizona and staked six lode claims in the area. The five-level underground mine was developed in 1908 and was most actively mined during the period 1910 -- 1928. According to the U.S. Geological Survey Professional Paper #416 by Cooper & Silver, 1964, typical ore mined at Texas Arizona averaged 38.5% lead, 49 ounces silver per ton, 1.6% copper and 0.05 ounces gold per ton. The lode claims recently staked cover an area just to the east of the known I-10 deposit, a large, undeveloped copper deposit previously drilled by Superior Oil and Magma Copper Company.
Nord's initial exploration efforts indicate a more complex poly-metallic zoning in the Johnson Camp Mining District than previously thought. Potential exists for the discovery of additional copper resources along with silver, gold, lead and zinc deposits.
Nord Resources is an Arizona-based natural resource company focused on near-term copper production from its Johnson Camp Mine and the exploration for copper, gold and silver at its properties in Arizona and New Mexico.
This release includes certain statements that may be deemed to be "forward-looking" statements within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements released, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Corporation expects, are forward-looking statements. Although Nord Resources Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include metals prices, exploitation and exploration successes, availability of capital and financing, and general economic, market or business conditions. Nord Resources Corporation does not undertake any responsibility to update the forward-looking statements in the future.