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DENVER, COLORADO--(Marketwire - Dec. 6, 2012) - Bellhaven Copper & Gold Inc. (News - Market indicators) ("Bellhaven" or the "Company") reports the commencement of the previously announced ZTEM (airborne electro-magnetics) survey over the entire La Mina property (1,800 Ha). The survey is also being extended to include an adjacent concession, which the Company is currently in discussions to acquire. The work is contracted to Geotech Ltd., a Canadian geophysical survey company specializing in leading edge airborne technology. The survey is designed to help refine the targets at La Mina, with a particular emphasis on the Garrucha and Cristalina target areas.
The helicopter-borne geophysical survey will result in approximately 132 line kilometres of data along east-west lines, spaced at 200 metres. The Z-TEM Electromagnetic (EM) system is an innovative technique making use of naturally occurring or passive EM fields from worldwide thunderstorm activity as the source of transmitted energy. The passive source combined with a proprietary receiver design, advanced digital electronics, and signal processing results in low noise levels, exceptional resolution, and unparalleled depth penetration. It has been used successfully to identify and map porphyry style mineral systems from Alaska to Chile.
Patrick Highsmith, Bellhaven's CEO, commented on the program: "We are pleased to bring the ZTEM technology to the Middle Cauca Belt for the first time. It is a proven technique for porphyries in the Americas. This will enable us to prioritize existing geochemical and magnetics anomalies, including on concessions that we are in negotiations to acquire. This is a very cost effective tool that adds immediate value in an emerging mineral district such as La Mina. By sharing the mobilization and some of the administrative costs with neighboring explorers, we have made it even more cost effective."
Discussion of ZTEM Survey
The survey is expected to identify conductive and resistive features that are associated with large mineral systems such as gold-copper porphyries from surface to considerable depth. The electromagnetic data is sensitive to sulfide minerals, as well as silicification and clay alteration; all of which are associated with the porphyry and epithermal deposits in the Middle Cauca Belt. This will be an important addition to the magnetics data that drove the initial discoveries. The EM data will advance the geologists' knowledge of the known resource areas, particularly at depth, but it will also upgrade the targeting arsenal elsewhere on the property. This work will also enhance understanding of large structures in the district. Many of these structures have previously been mapped from both surface exposures and drill intercepts; and the Bellhaven team is focused on their importance in controlling mineralization.
The survey crew arrived on site November 17, and began conducting reconnaissance flights a few days later. They are currently flying the survey as cloud cover permits. It is expected that a total of 6 to 8 days of favorable conditions is needed to complete data collection, so the survey should be completed before the end of December.
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.
Bellhaven Copper & Gold Inc. is a Canadian-listed (News - Market indicators) 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.