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Bellhaven
Copper & Gold Inc. (TSX VENTURE:BHV - News; "Bellhaven" or the "Company") is pleased to
announce that the recently completed ground-based geophysical surveys at La
Mina have identified three new exploration targets: El Cafetal,
La Virgen, and Filo de
Oro. Three other targets identified in the surveys coincide with the
previously known, but undrilled, El Limon prospect as well as the drilled
mineralized intrusive centers at La Cantera and the
Middle Zone. A total of six geophysical targets have been identified to date
within the 1.5 km by 0.6 km corridor located on the eastern portion of the
concession.
Geophysical
surveys are the primary target-generation tool being used in the Middle Cauca
belt of Colombia. Bellhaven announced on December
15th the commencement of ground-based induced polarization (IP), magnetometric, and radiometric surveys at the La Mina
porphyry Au-(Cu) project in Colombia. The work program was conducted inside a
1.5-km long by 0.6-km wide grid consisting of approximately 18.5
line-kilometers spaced 50-m apart. The surveys were performed by ARCE Geofisicos SAC, an independent geophysical consulting
firm headquartered in Lima, Peru.
To
view the Figures mentioned in this release and data produced by the
geophysical surveys, please use the following link: http://www.bellhavencg.com/inc/projects/la-mina-colombia/la-mina-geophysical-data.html.
Paul
Zweng, Bellhaven's
Interim CEO and Director, commented as follows:
"The
geophysical surveys were successful in achieving their primary goal-providing
better definition to the known prospects, namely, La Cantera,
Middle Zone, and El Limon. These data will be valuable in the drilling of
these targets, particularly the undrilled El Limon prospect. In addition, we
are pleased to report that three new exploration targets have emerged as a
result of these ground-based geophysical surveys. These additional targets
hold the potential to grow the scale of the La Mina project. We look forward
to drilling all of these prospects in the months ahead."
Discussion
of the Geophysical and Geological Characteristics of the Target Zones
To
understand better the significance of each geophysical target, Bellhaven compared the geophysical data of the targets
against the geophysical signature of La Cantera,
the best characterized prospect in the survey area by virtue of 12 diamond
drill holes collared in its vicinity. The gold- and copper-bearing rocks at
La Cantera are characterized by K-silicate
alteration surrounded by sericite- and clay-bearing
alteration assemblages, low amounts of total sulphide,
and an abundance of hydrothermal magnetite. The magnetic susceptibility (Fig
1) and total field magnetic-reduced to pole (RTP; Fig 2) anomaly
"highs" shown in these figures are inferred to represent rocks with
relatively high quantities of hydrothermal magnetite. The magnetic
susceptibility survey was particularly useful in revealing the locations of
the six principal targets at La Mina (see Fig 1).
The
anomaly "highs" shown on the potassium radiometric survey map (Fig.
3) are inferred to represent rocks overprinted by K-silicate (potassic) alteration. High potassium values occur over a
distance of 900 m along a approx. north-south
trending corridor defined by the La Cantera-El Cafetal-Filo de Oro-Middle Zone targets. High values also
occur to the north at El Limon along an approximately east-west belt that is
500-m long.
Zones
characterized by high chargeability occur outboard of the drilled gold- and
copper-bearing zones at La Cantera and Middle Zone
(Fig. 4). High chargeability can be attributed to rocks containing high
quantities (typically 5-10 volume percent) of pyrite. At La Cantera, high chargeability occurs outboard to the west
and east, but only weakly wraps around to the south and north. At the Middle
Zone, high chargeability also occurs to the west and east of known
mineralization and only weakly wraps around the northern margin (but not the
southern margin). High chargeability zones also occur locally along the
margins of the three new prospects at El Cafetal,
La Virgen, and Filo de
Oro.
La
Cantera spatially coincides with a strong
resistivity "low" (Fig. 5). The Middle Zone is characterized by a
weakly defined "low". It is unclear why these zones yield
relatively low resistivity readings as the rocks at La Cantera
and the Middle Zone contain an abundance of quartz veinlets
and only minor amounts of clay. Another prominent area characterized by a
strong resistivity "low" occurs between the El Limon and Middle
Zone targets.
Given
the increase in the number of new exploration targets, Bellhaven
is now actively seeking an additional drill rig to supplement the current
exploration drilling program.
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.
Three
other potentially important targets occur due north of the La Cantera target: Middle Zone, El Limon, El Cafetal, La Virgen, Filo de Oro and El Tanque.
These prospects occur within a 1.5 km long by 0.5 km wide zone 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:
Paul Zweng, CEO/Director
Bellhaven Copper & Gold Inc.
Corporate Contact in North America
+1-808-377-1947
pzweng@bellhavencg.com
Julio Benedetti, President/Director
Bellhaven Copper & Gold Inc.
Corporate Contact in Panama
Int'l No: +507-226-3967
www.bellhavencg.com
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