Highlights
- T Lode System confirmed to extend down plunge for over 600m (200
metres below surface), after successful infill drilling, with BELOSI055,
58 and 62 intersecting 22.06m @ 3.67 g/t Au, 11.63m @ 6.78 g/t Au, 4.9 m
@ 7.95 g/t Au respectively.
- High-grade near surface hanging wall shears continue to be
intersected in the east zone with at least three individual shear
systems being intersected by a number of holes with high grade assays up
to 50.8 g/t Au, a new record for the programme.
- New mineralisation encountered between the S and T Lodes systems in
BELOSI 60 and 61
- BELOSI 64, 65 and 66 extend the S Lode system down plunge and
indicate the potential for multiple parallel lode systems
David Pym (CEO) comments "This current phase of infill and extension
drilling is rapidly increasing the size and confidence of the Osikonmaki
gold system. Drilling is not only increasing confidence and confirming
continuity on existing lodes it is opening up new potential for further
lode systems to the south and west. Further intersections into the new
hanging wall shear system continue to demonstrate high grades in what was
considered waste rock in the hanging wall. In the next phase of drilling
we look forward to further testing the extensions of the known lodes, as
well as following-up on historical data that is interpreted as potentially
indicating further parallel lodes to the west."
Hole |
From
(m |
) |
Interval
(m |
) |
Au
(g/t |
) |
Grade
Thickness |
BELOSI047 |
34.23 |
|
0.89 |
|
46.10 |
|
41 |
BELOSI047 |
77.77 |
|
3.86 |
|
1.27 |
|
5 |
BELOSI048 |
54.25 |
|
2.71 |
|
1.74 |
|
5 |
BELOSI048 |
64.11 |
|
8.87 |
|
2.68 |
|
24 |
BELOSI049 |
17.58 |
|
4.10 |
|
1.92 |
|
8 |
BELOSI049 |
77.92 |
|
4.79 |
|
1.49 |
|
7 |
BELOSI053 |
91.22 |
|
0.85 |
|
6.22 |
|
5 |
BELOSI055 |
63.89 |
|
0.92 |
|
6.16 |
|
6 |
BELOSI055 |
85.66 |
|
3.59 |
|
1.92 |
|
7 |
BELOSI055 |
117.59 |
|
22.06 |
|
3.67 |
|
81 |
BELOSI057 |
43.19 |
|
1.20 |
|
6.75 |
|
8 |
BELOSI057 |
61.18 |
|
2.98 |
|
4.54 |
|
14 |
BELOSI058 |
34.98 |
|
3.20 |
|
8.67 |
|
28 |
BELOSI058 |
62.71 |
|
4.13 |
|
12.33 |
|
51 |
BELOSI058 |
101.57 |
|
11.63 |
|
7.68 |
|
89 |
BELOSI060 |
193.56 |
|
2.75 |
|
1.36 |
|
4 |
BELOSI060 |
205.5 |
|
9.30 |
|
1.50 |
|
14 |
BELOSI061 |
131.68 |
|
2.30 |
|
2.41 |
|
6 |
BELOSI061 |
152.76 |
|
9.48 |
|
1.88 |
|
18 |
BELOSI062 |
81.24 |
|
4.90 |
|
7.95 |
|
39 |
BELOSI064 |
141.97 |
|
8.49 |
|
1.10 |
|
9 |
BELOSI065 |
123.51 |
|
9.71 |
|
2.18 |
|
21 |
BELOSI066 |
94.04 |
|
24.35 |
|
1.32 |
|
32 |
Table 1: Intersections using a 1.0 g/t Au cut-off with a grade
thickness greater than 5 gram metres. No top cut is applied. Maximum grade
is 50.8 g/t Au over 0.49m, one of seven individual samples over 15 g/t Au
(0.5 oz/t). Intersections are estimated to be 90% of true width.
Osikonmaki Geology: The Osikonmaki project occurs in a
three kilometre long shear complex, hosted by a Proterozoic aged Tonalitic
Intrusion. Most of the drilling to date has focussed on the Eastern 800m
of the shear where the mineralisation is primarily associated with a 45 °
south dipping shear zone between 4 and 30 m thick. A series of higher
grade chutes pitch at shallow angles across the plane of the main shear,
plunging 20° to the ESE contain the better part of the mineralisation and
extend for at least 600 m down plunge. These chutes have been grouped into
three principle lode systems the S, T and U lode systems. This drill
programme is focussed on infilling previous drilling to 40 metre centres
between the bedrock surface and 100 metres vertical. Drillhole locations
can be viewed on the company's website.
The drilling was undertaken by Drillcon SMOY of Finland, providing
42 mm diameter core. Samples are comprised of half diamond core.
Intersections are estimated to be 90% of true width. No top cuts are
applied with the highest individual assay being 50.8 g/t gold over 0.49
metres. Core samples are sawn in half on site, prepped and assayed by 30g
fire assay with an AAS finish at the Internationally accredited
laboratories of ALS Chemex in Finland. The quality assurance-quality
control (QAQC) program of Belvedere consists of the insertion of certified
standards of known gold content every 20 samples, with blanks at the
beginning of each batch. In addition, ALS Chemex inserts a number of
blanks and standards into the analytical process. Standards, blanks and
duplicates make up approximately 15% of the samples assayed. The remaining
half core is retained on site for verification and reference
purposes.
About Belvedere:
Belvedere Resources Limited is a mining company incorporated in
British Columbia with a primary focus on nickel, gold, cobalt and copper
in Finland. The Company currently produces 2500t of nickel in
concentrate/year from the Hitura nickel mine in Central Finland. The
Company has a number of advanced gold projects in close proximity to the
Hitura mine.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking
statement, which involve known and unknown risks and
uncertainties. Without limitation, statements regarding future plans and
objectives of the Company (including statements relating to future drill
results) are forward-looking statements that involve various degrees of
risk. It is important to note that the Company's actual results could
differ materially from those in such forward-looking statements.
Qualified Person
This news release was reviewed by Dr. Toby Strauss, who is acting
as Qualified Person in compliance with National Instrument 43-101 with
respect to this release.
BELVEDERE RESOURCES LTD.
David Pym, CEO; Suite #404, Vancouver World Trade Centre,
999 Canada Place, Vancouver. BC. V6C 3E2,
Canada