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Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV - News; "Bellhaven" or the "Company") is pleased to
announce its most recent drill hole (DDH-14), targeting the La Cantera prospect, cut two substantial intervals of
porphyry and breccia containing high levels of gold
and copper.
This hole was designed to test the
down-dip extension of the relatively low-grade gold-copper intercept (54 m @
0.42 g/t Au, 0.21% Cu, 0.70 g/t AuEq) contained in
DDH-04 drilled by prior workers in 2006. The Bellhaven
hole was successful in cutting this down-dip extension but found twice the
grade over a similar width (45 m @ 0.95 g/t Au, 0.44% Cu, 1.71 g/t AuEq). More importantly, the Bellhaven
hole also yielded well over a 100 m of highly mineralized porphyry and breccia higher in the hole (126 m @ 1.02 g/t Au, 0.36%
Cu, 1.64 g/t AuEq).
La Cantera is
one of three porphyry prospects at La Mina. The other two prospects include
the Middle Zone and El Limon, located approximately 0.5 and 1 km to the
north, respectively. Most of the concession still remains unexplored. Bellhaven holds an option to earn 100% of the La Mina
project (see press releases dated May 17, July 27, September 9, October 12,
November 2 and 17, 2010).
For maps showing the location of the
drill hole, as well as a geologic cross section highlighting the gold-copper
intercepts, please use the following link: http://media3.marketwire.com/docs/1213bhv.pdf
Paul Zweng, Bellhaven's Interim CEO and Director, commented as
follows:
"The La Cantera
prospect at La Mina continues to deliver substantial grade and thickness with
each hole. Our most recent hole is an improvement over the prior hole drilled
in this one specific area in 2006. The second intercept of our hole extended
the vertical dimension of that one zone by 150 m, adding size and tonnage.
The principal intercept, containing over 100 m of 1 g/t Au and 0.36% Cu,
occurs only 70-80 m below the surface and the zone likely extends upwards to
the surface. These thick intercepts are compatible with a deposit amenable to
a large-scale, open-pit mining scenario."
"We are continuing to drill at La Cantera and look forward to reporting additional drill
results from both La Cantera and the Middle Zone in
the months ahead."
Discussion of the Drill-Hole Results
Bellhaven initiated its maiden drilling program
at its La Mina project last summer (see press release dated July 27, 2010).
Three holes collared at the La Cantera prospect
were reported in the September 9th press release. The first four holes
drilled at the second prospect, the Middle Zone, were highlighted in the
October 12th, November 2nd and 17th press releases. This press release
discusses the eighth drill hole of the program, DDH-14, collared at La Cantera. Data related to the drill holes are presented in
Tables 1 and 2.
Drill-hole DDH-14 was designed to test
the down-dip extension of the 54-m long intercept found in DDH-04 drilled in
2006. Starting at a down-hole depth of 100 m, the hole cut 146 m of
mineralized porphyry and breccia averaging 0.93 g/t
Au and 0.33% Cu (1.51 g/t AuEq) based on a 0.40 AuEq cut-off grade. Within this zone occurs the 126-m
long zone containing 1.02 g/t Au and 0.36% Cu (1.64 g/t AuEq)
reported above. The mineralized interval was truncated by a late
(post-mineral) porphyry stock. Further down hole, DDH-14 cut the La Cantera diorite porphyry and a series of breccia bodies. These rocks form a 62-m intercept
containing 0.75 g/t Au and 0.38% Cu (1.40 g/t AuEq)
based on a 0.40 g/t AuEq cut-off grade. Contained
within this zone is the 45-m zone averaging 0.95 g/t Au and 0.44% Cu (1.71
g/t AuEq) reported above. This zone represents the
downward extension of the 54-m zone cut in DDH-04 in 2006. The vertical
distance between the two intercepts is approximately 150 m. Significantly,
the downward extension is approximately twice the grade over similar widths.
The true width of the intercepts is approximately 64% of the reported
intercept length. Both zones remain open to depth. Currently Bellhaven is drilling DDH-15 to test the downward extension
of these zones.
Table 1. Drill-Hole Data, La Mina Porphyry Au-(Cu) Project, Colombia.
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East UTM North UTM Total
Coord Coord Elevation Azimuth Plunge Length
Hole Number (meters) (meters) (m.a.s.l) (degrees) (degrees) (meters)
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LM-DDH-07 419,078.20 654,460.37 1,730.2 180 -60 124.70
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LM-DDH-08 419,105.63 654,601.58 1,753.4 180 -60 297.18
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LM-DDH-09 419,101.00 654,750.00 1,781.6 180 -60 432.81
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LM-DDH-10 418,985.00 655,150.00 1,940.7 180 -60 175.86
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LM-DDH-11 418,995.00 654,950.00 1,819.0 1.7 -62 541.19
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LM-DDH-12 419,000.00 655,100.00 1,908.3 48.2 -61 493.78
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LM-DDH-13 419,097.00 655,197.00 1,929.2 45 -60 335.28
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LM-DDH-14 418,975.00 654,680.00 1,804 135 -50 511.74
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m.a.s.l = meters above sea level; Coord = Coordinate
Table 2. Drill-Hole Results for the La Mina Porphyry Au-(Cu) Project,
Colombia.
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From To Intercept Au Cu AuEq
Hole Number (m) (m) (m) (g/t) (%) (g/t) Prospect
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2010 Drill Results by Bellhaven Copper & Gold
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LM-DDH-07 7.62 27.91 20.29 0.74 0.40 1.43 La Cantera
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LM-DDH-08 0.70 88.00 87.30 1.07 0.30 1.59 La Cantera
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and 197.05 269.72 72.67 0.88 0.39 1.55 La Cantera
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including 199.05 239.05 40.00 1.43 0.55 2.37 La Cantera
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LM-DDH-09 194.75 337.19 142.44 0.70 0.29 1.20 La Cantera
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including 216.75 307.80 91.05 0.93 0.38 1.58 La Cantera
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DDH-09 lost at 432.81 m before reaching
second target
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LM-DDH-10 91.44 154.00 62.56 0.47 0.09 0.62 Middle Zone
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including 132.00 150.00 18.00 0.70 0.10 0.87 Middle Zone
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DDH-10 lost at 175.86 m before reaching
target
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LM-DDH-11 235.00 247.52 12.52 0.27 0.08 0.42 Middle Zone
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289.00 472.00 183.00 0.20 0.12 0.41 Middle Zone
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including 343.00 418.00 75.00 0.24 0.18 0.55 Middle Zone
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LM-DDH-12 160.00 188.00 28.00 0.30 0.18 0.61 Middle Zone
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326.00 420.00 94.00 0.76 0.39 1.42 Middle Zone
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including 326.00 368.00 42.00 0.88 0.44 1.64 Middle Zone
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LM-DDH-13 1.52 78.35 76.83 0.70 0.27 1.16 Middle Zone
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New Results Reported in this Press Release
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LM-DDH-014 100.00 246.00 146.00 0.93 0.33 1.51 La Cantera
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including 100.00 226.00 126.00 1.02 0.36 1.64 La Cantera
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and 392.00 454.00 62.00 0.75 0.38 1.40 La Cantera
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including 394.00 439.00 45.00 0.95 0.44 1.71 La Cantera
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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 $900/oz and a
long-term copper price of $2.25/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 2.25)/(900/31.1035)) g/t
Gold and copper grades capped at 5 g/t Au and 2% Cu, respectively.
All drill holes are diamond-core holes.
ALS Colombia Ltda. prepared the drill-core
samples, producing the sample pulps in Bogota. The South American Central Lab
of ALS Chemex in Lima, Peru, performed all assays
pertaining to the drill-core samples highlighted in the text and table above.
Gold was analyzed by fire assay on a 50-gram sample with an atomic-absorption
finish. Copper was analyzed using four-acid digestion, ICP-AES. The Company
maintains a QA-QC program regarding the preparation, shipping, and checking
of all samples, including the use of certified standard reference materials,
blanks, as well as field- and pulp duplicates.
This news release has been prepared
under the supervision of Mr. Thomas J. Drown, P.Geo.,
who serves as the qualified person as defined by National Instrument 43-101
responsible for ensuring that the geological information in this release is
accurate.
About the La Mina porphyry Au-(Cu)
prospect
La Mina (also known as Venecia) lies within the Middle Cauca belt of Miocene-age
volcano-plutonic rocks in central Colombia known to host large porphyry gold
deposits such as La Colosa (12.9 Moz Au contained in 468 Mt @ 0.86 g/t Au; AngloGold
Ashanti), Titiribi (3.7 Moz
Au contained in 230 Mt @ 0.5 g/t Au; Sunward Resources), Quebradona
(AngloGold Ashanti - B2Gold), Quinchia (Batero Gold), and Yarumalito
(Colombian Mines), as well as large epithermal gold districts such as Marmato (7.5 Moz Au contained
in 245 Mt @ 0.95 g/t Au; Medoro Resources).
In mid 2006, AngloGold Ashanti and Bema
Gold drilled six holes into the La Mina porphyry (now called the La Cantera prospect), with Holes 2 and 5 yielding 90+ m
intercepts of greater than 1 g/t Au and significant copper at shallow depths.
The most important host rocks observed
in drill core include the Combia Formation
intermediate volcanic rocks as well as early, intra- and post-mineral diorite
porphyry. Alteration is typical of gold porphyry deposits as exemplified by a
potassic-calcic core encircled by sericitic, intermediate argillic,
and propyllitic alteration zones. Specifically,
most of the gold and copper discovered so far at La Cantera
are spatially associated with quartz-magnetite-chalcopyrite +/- bornite veinlets in potassic altered porphyry and breccias containing
elevated quantities of hydrothermal magnetite. As a result, the gold-bearing
rocks are highly magnetic (ca. 200x10(-3)SI) which
creates a sharp contrast with the barren and weakly magnetic intermediate argillically altered rocks as well as the non-magnetic sericitically altered rocks that surround the potassic core.
Two other important targets occur due north
of the La Cantera target: Middle Zone and El Limon.
These three areas form a 1.5 km long by 0.5 km wide magnetic anomaly
containing elevated values of gold and copper in rock-chip and soil samples.
About Bellhaven
Bellhaven Copper & Gold Inc. is a
Canadian-listed (TSX VENTURE:BHV - News) exploration company
exploring for gold and copper in Panama and Colombia. The Company's objective
is to become one of the best gold-copper companies operating in Panama and
Colombia by discovering, acquiring, and developing high-quality resources in
a safe and responsible manner to the benefit of all of its stakeholders.
The Company's principal assets include
the La Mina porphyry gold-(copper) project in the Middle Cauca belt of
Colombia, the Pitaloza and three other high-sulphidation epithermal gold-(copper) and porphyry copper
prospects located on the Azuero Peninsula in
Panama.
For more information regarding Bellhaven, please visit our website at
www.bellhavencg.com.
On behalf of the board of directors,
Paul L. Zweng,
CEO & Director
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.
Neither the 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.
Contact:
Corporate Contact in North America:
Bellhaven Copper & Gold Inc.
Paul Zweng
CEO/Director
+1-808-377-1947
pzweng@bellhavencg.com |