Belo Sun Continues to Extend Mineralization at the Ouro Verde Deposit and Announces 70,000 Meter Expansion to Drilling Program at Volta Grande, Brazil
- Hole VVGD-270 (Ouro Verde Cross Section 950 NW) located 150 meters from the edge of the drill intercepts modeled on the April 2011 mineral resources update has intersected multiple high grade mineralized zones including 4.00 meters grading 20.88 g/t Au (from 73.25 m depth) and 19.65 meters grading 4.73 g/t Au including 12.20 meters grading 6.80 g/t Au (from 181.00 m depth). - Significant down dip intercepts in hole VVGD-234 (Ouro Verde Cross Section 800 NW) include 59.30 meters grading 2.59 g/t Au (from 216.70 m depth) including 21.40 meters grading 4.06 g/t Au; - VVGD-201 (Ouro Verde Cross Section 425 NW) intersected 24.00 meters grading 3.68 g/t Au (from 18.00 m depth) including 10.00 meters grading 8.13 g/t Au.
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/04/12 -- Belo Sun Mining Corp. (TSX VENTURE: BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 67 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and selected cross sections are presented below. These results include assays from 19 drill holes from the Ouro Verde deposit, 42 drill holes from the Grota Seca deposit and six from the South Block target.
Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "As was reported in Belo Sun's financial statements for the quarter ended September 30, 2011, the Company held C$43 million in cash and cash equivalents as of September 30, 2011. As drill results at the Volta Grande project continue to demonstrate that the deposits are open for further expansion, Belo Sun remains well funded to continue this highly successful drill programme into 2012. The drilling results to date have been very encouraging and we are intersecting numerous higher grade zones. On this basis we will tender a further 70,000 meters of diamond drilling of which 36,000 meters are planned to be completed in the first half of 2012. This programme has been designed to continue to drill the extensions of the existing deposits and test certain prospective targets on our 151,000 hectares land position."
A complete summary of assays are listed below. To date, Belo Sun has completed 346 drill holes at the Volta Grande Gold Project, of which assays remain pending for 41 holes. The current drilling program is designed to upgrade and expand the existing mineral resource and further results will be released as they become available.
The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included below.
TABLE 1 - DIAMOND DRILLING ASSAY RESULTS
The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.
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. The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Project site. The assay samples are then fine-crushed to better than 85% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.
The impact of these assay results on the projected economics of the Project has not been the subject of a revised pre-feasibility study or feasibility study.
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 .
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 these drill results on the Company, projected economics of the project, and its understanding of the project; statements with respect to the development potential and timetable of the project; 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 and on the Company's website at . 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.
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. The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Project site. The assay samples are then fine-crushed to better than 85% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.
The impact of these assay results on the projected economics of the Project has not been the subject of a revised pre-feasibility study or feasibility study.
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 .
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 these drill results on the Company, projected economics of the project, and its understanding of the project; statements with respect to the development potential and timetable of the project; 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 and on the Company's website at . 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.
To view the Maps associated with this press release, please visit the following link: .
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
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Datum: 04.01.2012 - 21:12 Uhr
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