Belo Sun Expands Mineral Rights from 195 Square km to 1,305 Square km, Adds 130 km Extension in Belt Hosting Volta Grande Deposits
and Hosts Numerous Gold Occurrences
TORONTO, ONTARIO -- (MARKET WIRE) --
06/06/11 -- Belo
Sun Mining Corp. (TSX VENTURE: BSX) (the "Company" or
"Belo Sun") is pleased to announce that it has been granted priority
on its applications for an additional 14 claims which comprise of an area
totaling 111,032 hectares (1110 square kilometers) which is located along the Tres Palmeiras greenstone belt.
The expanded land package now consists of a total of 24 claims which cover
130,541 hectares (1305 square kilometers).
The 14 new claims were
acquired through a Public Tender and correspond to mineral rights that were
previously held by other titleholders that had been allowed to lapse. The
tender process was opened for sixty days and Belo Sun's Brazil
technical team had compiled the data in advance of the tender in preparation
for targeting the key prospective areas. Belo Sun successfully acquired this
key land position as part of this process and the location of the 14 claims are
shown in Figure 1 below. The confirmation of priority was published in the
"Brazilian Official Gazette" on June 1, 2011 and Belo
Sun expects that the exploration licenses will be issued within several weeks
based on normal course for processing applications.
The 14 new claims cover
much of the area along the southeastern extension of the Tres
Palmeiras Greenstone Belt, which includes several
granitic plutons similar to the ones within the North
and South blocks of the Volta Grande Project and hosts numerous gold
showings (Figure 1). The gold occurrences indicated on the map were visited and
catalogued by the Brazilian Geological Survey (CPRM).
The new exploration program
will be focused on areas with similar geological characteristics to other gold
deposits in the Carajas and Amazon regions
in northern and western Brazil
as well as the gold occurrences and deposits in the granite-greenstone belt of
north-central Guyana.
Belo Sun is looking forward to evaluating this highly prospective and
underexplored belt for new gold deposits.
The Volta Grande
Project area is located in the western portion of a west-northwest
trending Tres Palmeiras
Greenstone Belt, in central State of Para. The greenstone belt is 3 kilometers
to 10 kilometers wide and extends approximately 130 kilometers along strike. It
comprises of Upper Proterozoic metavolcanic
and metasedimentary rocks enveloping linear granodioritic to dioritic domes,
interpreted to be syntectonic plutons
of Proterozoic age.
The Volta Grande Property
includes a major brittle-ductile deformation zone within the west-northwest
trending Tres Palmeiras
Greenstone Belt. It is underlain by west-northwest trending and steeply south
dipping gneisses of metasedimentary and/or metavolcanic origin, and syntectonic
diorite. Occasional chert horizons (chemical
sediments) and banded iron formation (BIF) are also present within the metasedimentary sequence. A number of anorogenic
granitic plutons are also present along the southern
contact of the greenstone belt, and other (yet undiscovered) shear zones may be
present within the property.
The entire belt has already
been photo interpreted using available aerial geophysics and satellite images
by Belo Sun and field work and regional mapping/sampling will start in the near
future in order to outline new potential drill targets.
Helio Diniz,
the Vice President, Exploration for Belo Sun, stated, "We are very excited
by the addition of these adjacent lands to our property. In our view, this
represents a tremendous opportunity for new discoveries in the Belt. The
geological setting is very favourable and the
presence of a large deposit, such as or our Volta Grande Project,
and numerous gold occurrences which have not yet been systematically explored
speaks volumes for the discovery potential of this area. With the mineral
rights now granted to Belo Sun, we will move quickly to start systematic
mapping and sampling over the already identified gold occurrences with the aim
of delineating targets for drilling and more advanced exploration."
Quality Assurance and
Quality Control
The scientific and
technical information in this press release has been reviewed and approved by David
Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as
defined by National Instrument 43-101.
About the Company
Belo Sun Mining Corp. is a Canadian-based
mineral exploration company with a portfolio of properties focused on gold in Brazil.
Belo Sun's primary focus is on advancing and expanding its 100% owned Volta
Grande Gold Project, located in Para State. Belo Sun trades on the TSX
Venture Exchange under the symbol "BSX". For more information about
Belo Sun please visit www.belosun.com.
To view figure 1, please
visit the following link: http://media3.marketwire.com/docs/bsx606i.pdf.
Cautionary Statement on
Forward Looking Information
This press release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information includes, without
limitation, statements regarding the impact of the acquisition of these
additional claims on the Company and its properties,; statements with respect
to the development potential and timetable of the project; the success of
exploration activities; the estimation of mineral resources; realization of
mineral resource estimates; the timing and amount of estimated future
exploration; costs of future activities; capital and operating expenditures;
success of exploration activities; currency exchange rates; government
regulation of mining operations; and environmental risks. Generally,
forward-looking information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not
expect", "is expected", "budget",
"scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be
taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those expressed or
implied by such forward-looking information, including risks inherent in the
mining industry and risks described in the public disclosure of the Company
which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted
to identify important factors that could cause actual results to differ
materially from those contained in forward-looking information, there may be
other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.
NEITHER TSX VENTURE
EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
Contacts:
Belo Sun Mining Corp.
Mark Eaton
President and CEO
(416) 309-2137
www.belosun.com
Source: Belo
Sun Mining
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