Bellhaven Drills Longest Intercept Ever at La Mina Project, Colombia: 311 m of 0.84 g/t Gold and 0.10% Copper (1.0 g/t gold e...
10 Juillet 2013 - 1:01PM
Marketwired Canada
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is
pleased to announce that the latest drill hole completed at La Garrucha
prospect, LME-1103, delivered 311 m of 0.84 g/t gold and 0.10% copper (1.00 g/t
gold equivalent). Contained within this long intercept is a higher-grade subzone
of 85 m averaging 1.20 g/t gold and 0.17% copper (1.47 g/t gold equivalent). The
311-m long intercept is the longest drilled to date at La Mina, eclipsing the
257-m long intercept averaging 0.84 g/t gold equivalent recorded from LM-DDH-025
at La Cantera prospect located less than one kilometre away (see press release
dated June 28, 2011).
See Tables 1 and 2 below for a complete list of the multiple intercepts
contained in LME-1103. For figures showing a plan map and cross section
highlighting the new drill hole announced in this press release, please use the
following link: http://media3.marketwire.com/docs/BHV0710.pdf
The new hole is drilled along Section M, the same section where drill holes
LME-1100 and -1102 were drilled (see press releases dated June 5 and 27). These
three holes indicate that gold and copper mineralization above the 0.4 g/t gold
equivalent cut-off grade extends downward from approximately 1950-m elevation to
1475-m elevation for a vertical distance of approximately 475 m (see Fig 4).
Within this 475-m vertical zone is a 275-m vertical zone containing gold grades
at-or-above 1 g/t.
Julio Benedetti, Bellhaven's CEO and Chairman, commented as follows:
"We are pleased to see that the latest drill hole from La Garrucha has delivered
the longest intercept ever recorded at La Mina and the first to exceed 300 m.
This is rather remarkable as this is only the fourth hole of the drilling
campaign. This hole is important because it shows how quickly tonnes and ounces
can be added to the prospect."
"The project remains open to the east as well as to the north and south. We are
now drilling LME-1104 on Section L, located 50 m to the southeast of Section M
(where LME-1103 was drilled). This hole is our first attempt to gauge the
eastern boundary of the gold-copper zone and is also located closer to the
center of the airborne magnetic anomaly. For these two reasons, this is an
important drill hole."
"Each drill hole at La Garrucha is boosting our confidence in the project. We
look forward to announcing the results of the current hole, LME-1104, in the
weeks ahead."
In accordance with National Instrument 43-101, it is noted that the potential
quality and grade at La Garrucha is conceptual in nature, that there has been
insufficient exploration to define a mineral resource, and that it is uncertain
if further exploration will result in a target being delineated as a mineral
resource.
Discussion of Drilling Results
LME-1103 was drilled on the same platform as the first three holes of the
drilling campaign. It was collared on June 15th and completed on July 1st after
reaching a down-hole depth of 565 m (see Table 2). The drill-hole was designed
to constrain the G4 porphyry and the eastern margin of the gold-copper zone cut
previously by LME-1100 and -1102. The results from the drill hole indicate that
the porphyry gold-(copper) deposit is tilted to the east and as such, the hole
drilled parallel-to-subparallel to the plunge of the gold-(copper) zone, never
passing out of the G4 porphyry (See Fig. 4).
LME-1103 delivered multiple intercepts with the most important consisting of 311
m averaging 0.84 g/t gold and 0.10% copper (1.0 g/t gold equivalent), including
85 m averaging 1.20 g/t gold and 0.17% copper (1.5 g/t gold equivalent) (see
Table 1). The intercepts from this hole and the others on Section M demonstrate
a 475-m vertical continuity of gold mineralization above the cut-off grade, from
1950-m elevation to 1475-m elevation (See Fig. 4).
Table 1. New Drill-Hole Results for La Garrucha Gold-(Copper) Prospect, La
Mina, Colombia
----------------------------------------------------------------------------
Drill Hole From To Intercept Au Cu Ag AuEq Prospect
(m) (m) (m) (g/t) (%) (g/t) (g/t)
----------------------------------------------------------------------------
La
LME-1103 66.00 377.00 311.00 0.84 0.10 5.1 1.00 Garrucha
----------------------------------------------------------------------------
La
including 98.00 183.00 85.00 1.20 0.17 8.5 1.47 Garrucha
----------------------------------------------------------------------------
La
and 392.80 421.20 28.40 0.34 0.04 1.0 0.41 Garrucha
----------------------------------------------------------------------------
La
and 436.77 458.30 21.53 0.41 0.04 4.7 0.48 Garrucha
----------------------------------------------------------------------------
La
and 476.09 500.00 23.91 0.78 0.05 1.5 0.86 Garrucha
----------------------------------------------------------------------------
La
and 513.10 537.80 24.70 0.55 0.04 1.7 0.61 Garrucha
----------------------------------------------------------------------------
Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq = gold
equivalent (g/t). For information on calculation of AuEq grades, please see
Forward-Looking Statements below. Gold and copper grades capped at 5 g/t Au and
2% Cu, respectively. Intercepts reported as down-hole lengths and may not
represent true thicknesses.
Table 2. Drill-Hole Data for La Mina Gold-(Copper) Project, Colombia
----------------------------------------------------------------------------
East North Azi-
UTM UTM muth Total
Hole Coord- Coord- Elevation (deg- Plunge Length
Number inate inate (m.a.s.l.) rees) (degrees) (metres) Prospect
----------------------------------------------------------------------------
La
LME-1103 419,940.21 654,620.09 1990.95 045 -75 565.40 Garrucha
----------------------------------------------------------------------------
This news release has been prepared under the supervision of Mr. Thomas J.
Drown, P.Geo. Mr. Drown has more than 25 years relevant experience and is a
British Colombia Professional Geoscientist. He is a senior project geologist
with the Company at the La Mina Project and serves as the qualified person as
defined by National Instrument 43-101.
About Bellhaven
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV) exploration
company exploring for gold and copper in Panama and Colombia. The Company's goal
is to be a leader in gold and copper development in Panama and Colombia.
Bellhaven focuses on discovery, acquisition, and development of high-quality
resources in a safe and responsible manner for the benefit of all of its
stakeholders.
The Company's flagship project is the La Mina porphyry gold-(copper) porphyry
deposit in the Middle Cauca belt of Colombia. The total La Mina resource now
includes 1.6 Moz gold and 419 million pounds of copper (or 2.55 Moz gold
equivalent) contained in 79.9 million tonnes averaging 0.62 g/t Au, 0.24% Cu, or
a gold equivalent grade of 1.0 g/t (based on a 0.30 g/t Au cutoff grade). The
average grade of 1.0 g/t gold equivalent makes La Mina one of the highest grade
gold-(copper) porphyry deposits in the Americas. The Company is currently
seeking to develop and to grow these resources through mine development ongoing
exploration on the La Mina concession. For more information regarding Bellhaven,
please visit our website at www.bellhavencg.com.
On behalf of the board of directors,
Julio Benedetti, CEO & Chairman of the Board of Directors
BELLHAVEN COPPER & GOLD INC.
Forward-Looking Statements
Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.
Gold equivalent grades have been calculated using the following formula: AuEq =
Au(g/t) + (Cu(%)) x (%Recoverable Cu / %Recoverable Au) x (Net Cu Price/Net Au
Price) x (%Payable Cu / %Payable Au x 22.0462 x 31.1035). Metal recoveries are
estimates based on metallurgical results announced in Bellhaven's news release
dated Nov. 15, 2011. Net metal prices for gold and copper are the long-term
forward-curve metal price minus refining charge. Metal prices based on the
long-term forward curve are as of May 8, 2013 (US$1482 for gold and $3.40/lb for
copper). Metal refinery charges and % payable metal by the smelter are estimates
based on third-party consultants. Metal prices, refinery charges and % payable
metal are not constant and are subject to change. Mineral resources are not
mineral reserves and do not have demonstrated economic viability. There is no
certainty that all or any part of the mineral resources will be converted into
mineral reserves.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Contact in North America:
Mrs. Milagros "Millie" Paredes, President/Director
U.S. Tel: (971) 344-1500
mparedes@bellhavencg.com
Corporate Contact in Panama:
Mr. Julio Benedetti, CEO/Chairman
Int'l No: +507-226-3967
juliobenedetti@bellhavencg.com
Bellhaven Copper & Gold Inc. (TSXV:BHV)
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