Bellhaven Adds Gold at the El Limon Target at the La Mina Project, Colombia
27 Dicembre 2012 - 12:30PM
Marketwired Canada
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is
pleased to report drill results from eight recent holes at the La Mina Project
in Colombia (Figures 1 and 6). The first five holes tested new soil geochemical
targets associated with the El Limon mineralized porphyry, north of the Middle
Zone resource. Two additional holes undercut known historical mine workings on
the west side of Middle Zone (an area known as the Adit Target), and finally one
hole filled a gap in the deeper portions of the Middle Zone.
The program added much needed information at El Limon, where a 2011 drill hole
(LMDDH-21) encountered 67m of 0.25 g/t Au. Two of the El Limon holes confirmed
significant widths of alteration and mineralization within 300m of the Middle
Zone resource. The Adit Target is a newly realized structure exhibiting
higher-grade silver vein-type mineralization that may transition to gold-rich
veins at depth. For maps showing the location of the drill holes, as well as the
corresponding geologic cross sections highlighting the gold-copper intercepts,
please use the following link: http://media3.marketwire.com/docs/BELL1227.pdf.
Patrick Highsmith, Bellhaven's CEO, commented on the latest drilling:
"We have improved upon the best intercept at the El Limon porphyry, but these
results don't satisfy our short-term goal for the second half of 2012 of adding
near-surface higher-grade mineralization around Middle Zone. There may still be
resource additions at El Limon, but they are likely to come from deeper in the
system. The first test of the Adit Target confirmed the presence of higher-grade
silver in epithermal veins; and these veins may be indicative of deeper porphyry
or gold vein mineralization. In the course of executing our systematic
exploration plan, it was important to test these shallow targets that adjoin our
known resources. However, early in 2013 we turn our attention to the new
Garrucha discovery and the un-drilled Cristalina target."
As 2012 comes to an end, Bellhaven has just added some drill holes between La
Cantera and Middle Zone, the results of which will be released in January. In
early 2013, the technical team will incorporate the new ZTEM geophysical data
and proceed with testing new targets at La Garrucha and Cristalina.
The table below summarizes the significant intercepts from these drill holes.
There were no significant intervals in drill holes LME-1086 through -1089.
Table 1 - Significant New Drill-Hole Results for La Mina Gold-(Copper)
Project, Colombia
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From To Intercept Au Cu Ag AuEq
Drill Hole (m) (m) (m) (g/t) (%) (g/t) (g/t) Prospect
----------------------------------------------------------------------------
LME-1084 117.34 196.29 78.95 0.31 0.10 2.1 0.41 El Limon
----------------------------------------------------------------------------
236.22 281.94 45.72 0.37 0.11 2.0 0.54 El Limon
----------------------------------------------------------------------------
207.26 208.78 1.52 0.17 0.27 448.0 0.56 El Limon
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1085 33.52 53.94 20.42 0.23 0.19 4.0 0.53 El Limon
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1090 530.58 548.70 18.12 0.34 0.30 1.2 0.81 Middle Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1092 358.00 360.00 2.0 0.42 0.08 299.0 0.55 Adit Target
----------------------------------------------------------------------------
NOTE: Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq (g/t)
= gold equivalent (g/t). AuEq (g/t) calculated assuming a long-term gold
price of US $1200/oz and a long-term copper price of US $2.75/lb. No
adjustment has been made for metallurgical recoveries or net-smelter returns
as these remain uncertain at this time. AuEq formula: AuEq g/t = Au g/t +
((Cu% x 22.0462 x 2.75)/(1200/31.1035)) g/t; Ag values are not included.
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.
Discussion of the Drill-Hole Results
The El Limon holes (LME-1084 to -1088) added considerable understanding of the
complex intrusive rocks and breccias at El Limon (Figure 1). The geologists
noted significant alteration over long intervals in these holes, but the
intensity of mineralization remains lower than at Middle Zone and La Cantera.
The two El Limon holes with significant mineralized intervals (LME-1084 and
-1085) are oriented N45W and collared approximately 100m apart on the west side
of a previously noted gold and copper soil anomaly (Figures 2 and 3). The gold
intercepts in those holes coincide well with the soil anomalies. While these
intercepts improve upon the previously reported mineralization in LMDDH-021 (see
Company news release dated April 20, 2011), later drill holes (LME-1086, -1087,
and -1088) collared to the southwest did not improve upon the grade and
thickness of the El Limon mineralization.
The reported high-grade silver interval in LME-1084 (1.5m at 448 g/t Ag) is
associated with veinlets and brecciation including molybdenite, chalcopyrite,
and possibly scheelite. This style of mineralization has been reported from the
Middle Zone and La Cantera mineral systems and is thought to post-date the Au-Cu
porphyry mineralization.
Based on the strong alteration observed in LME-1084, drill holes LME-1086,
LME-1087, and LME-1088 were collared approximately 50m to the southwest.
LME-1086 was drilled parallel to LME-1084; while LME-1087 was drilled at S45E
(towards the Middle Zone) from the same platform as LME-1086. These holes
encountered anomalous gold near surface, but the grade did not persist to depth
(Figure 4). The geologists collared LME-1088 on the same platform but directed
it S45W (Figure 5). Although this hole delivered anomalous metal values and thus
helped to explain the soil anomaly, the overall intercept was below cutoff
grade.
Two holes, LME-1089 and LME-1092, were the first to test an area west of the
Middle Zone resource known to have historical gold workings (Figure 6). These
workings reportedly included extensive development along a northeast-trending
adit. The exact extent of the adit is unknown, and the entrance is now
collapsed. However, locally acquired information indicates that it was in
operation periodically from the 1920's to about 1970. Miners describe gold-rich
shear zone oriented close to N45E. Soil anomalies in Au, As, Cu, Ag, Pb, and Sb
confirm a northeasterly trend as well.
Hole LME-1089 was drilled from the NW side of the Adit Target at a bearing of
S45E (cross section to be completed after receipt of assays for LME 1091). Hole
LME-1092 was drilled due north from the SE side of the adit (Figure 7). These
holes encountered several narrow intervals of veining, including silver assays
ranging from 37 to 299 g/t and zinc assays approaching 1% over short intervals.
Gold was also anomalous over a number of intervals. The veins in this area are
geochemically similar to the high-grade silver veins encountered elsewhere on
the project.
Hole LME-1090 is located at the same collar as LME-1092, but plunges N45E into a
deep part of Middle Zone (Figure 8). It was positioned to fill a gap in the
block model for this area. Results confirm the lithological transition from
older volcanic rocks to the copper-rich X1 unit in this area. It exhibits a
significant interval at depth, supported by high copper.
Table 2 - Drill Hole Location Data from this news release for La Mina Gold-
(Copper) Project, Colombia
East North Azimuth Plunge Total
Hole UTM UTM Elevation (deg- (deg- Length
Number Coordinate Coordinate (m.a.s.l.) rees) rees) (metres) Prospect
LME-1084 419026.66 655487.08 1986.53 315 -55 333.75 El Limon
LME-1085 419026.95 655593.22 1917.00 315 -50 353.56 El Limon
LME-1086 418981.98 655450.14 1994.02 315 -51 284.98 El Limon
LME-1087 418984.24 655447.90 1993.80 135 -65 181.35 El Limon
LME-1088 418981.84 655448.59 1994.04 225 -51 152.70 El Limon
Adit
LME-1089 418694.04 655043.48 1793.81 135 -51 297.18 Target
Middle
LME-1090 418797.95 654904.12 1774.21 045 -64 596.79 Zone
Adit
LME-1092 418796.72 654905.36 1773.63 000 -48 446.53 Target
m.a.s.l. = metres above sea level
Laboratory Methodology and Quality Assurance
After logging, cutting, and sampling on site at the La Mina camp, Bellhaven
employees transport the core samples to the sample preparation laboratory in
Medellin, ALS Colombia Ltda. The lab prepares sample pulps for analysis
according to industry standard methodologies and ships the pulps to ALS
Laboratories in Lima, Peru and La Serena, Chile. The copper, silver and
multi-element analyses are performed by a four-acid digestion and ICP-AES finish
at the ALS Lima lab. The gold is determined by fire assay of a 30-gram sample
with an atomic-absorption finish in Lima or La Serena, depending on laboratory
workflow. Check samples are sent separately by Bellhaven to the SGS Laboratory
in Lima, Peru, where they are analyzed by the same methods as listed above for
ALS.
The ALS Minerals laboratory in Lima, Peru is registered to ISO 9001:2008 and has
received ISO 17025:2005 accreditation for certain specific methods, such as fire
assay/AA gold. The SGS laboratory in Lima, Peru, has also received accreditation
to ISO/IEC 17025 for certain relevant methods. In addition to the internal QA-QC
program used by these accredited laboratories, Bellhaven also maintains an
independent QA-QC program that includes the use of certified standard reference
materials, blanks, as well as field and pulp duplicates. The quality control
data associated with these results falls within acceptable ranges for all
relevant parameters.
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 Columbia 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
objective is to be a leader in responsible gold and copper development in Panama
and Colombia. Bellhaven will focus 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) project in
the Middle Cauca belt of Colombia. In July 2012, the Company increased the
mineral resource inventory at the La Mina Project by 60% with the announcement
of an inferred resource at Middle Zone. 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 79.87 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 Company
is currently seeking to grow these resources through 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,
R. Patrick Highsmith, Chief Executive Officer
BELLHAVEN COPPER & GOLD INC.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bellhaven Copper & Gold Inc.
Nico Wells
Corporate Communications
North America: +1-303-470-8700, ext 24
Contact in Panama:
Bellhaven Copper & Gold Inc.
Julio Benedetti
President/Director
Int'l No: +507-226-3967
www.bellhavencg.com
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