DENVER, COLORADO -- (Marketwire) -- 12/27/12 -- Bellhaven Copper & Gold Inc. (TSX VENTURE: BHV) ("Bellhaven" or the "Company") is pleased to report drill results from eight recent holes at the La Mina Project in Colombia (Figures 1 and 6). The first five holes tested new soil geochemical targets associated with the El Limon mineralized porphyry, north of the Middle Zone resource. Two additional holes undercut known historical mine workings on the west side of Middle Zone (an area known as the Adit Target), and finally one hole filled a gap in the deeper portions of the Middle Zone.
The program added much needed information at El Limon, where a 2011 drill hole (LMDDH-21) encountered 67m of 0.25 g/t Au. Two of the El Limon holes confirmed significant widths of alteration and mineralization within 300m of the Middle Zone resource. The Adit Target is a newly realized structure exhibiting higher-grade silver vein-type mineralization that may transition to gold-rich veins at depth. For maps showing the location of the drill holes, as well as the corresponding geologic cross sections highlighting the gold-copper intercepts, please use the following link: http://media3.marketwire.com/docs/BELL1227.pdf.
Patrick Highsmith, Bellhaven's CEO, commented on the latest drilling:
"We have improved upon the best intercept at the El Limon porphyry, but these results don't satisfy our short-term goal for the second half of 2012 of adding near-surface higher-grade mineralization around Middle Zone. There may still be resource additions at El Limon, but they are likely to come from deeper in the system. The first test of the Adit Target confirmed the presence of higher-grade silver in epithermal veins; and these veins may be indicative of deeper porphyry or gold vein mineralization. In the course of executing our systematic exploration plan, it was important to test these shallow targets that adjoin our known resources. However, early in 2013 we turn our attention to the new Garrucha discovery and the un-drilled Cristalina target."
As 2012 comes to an end, Bellhaven has just added some drill holes between La Cantera and Middle Zone, the results of which will be released in January. In early 2013, the technical team will incorporate the new ZTEM geophysical data and proceed with testing new targets at La Garrucha and Cristalina.
The table below summarizes the significant intercepts from these drill holes. There were no significant intervals in drill holes LME-1086 through -1089.
Table 1 - Significant New Drill-Hole Results for La Mina Gold-(Copper) Project, Colombia---------------------------------------------------------------------------- From To Intercept Au Cu Ag AuEqDrill Hole (m) (m) (m) (g/t) (%) (g/t) (g/t) Prospect----------------------------------------------------------------------------LME-1084 117.34 196.29 78.95 0.31 0.10 2.1 0.41 El Limon---------------------------------------------------------------------------- 236.22 281.94 45.72 0.37 0.11 2.0 0.54 El Limon---------------------------------------------------------------------------- 207.26 208.78 1.52 0.17 0.27 448.0 0.56 El Limon--------------------------------------------------------------------------------------------------------------------------------------------------------LME-1085 33.52 53.94 20.42 0.23 0.19 4.0 0.53 El Limon--------------------------------------------------------------------------------------------------------------------------------------------------------LME-1090 530.58 548.70 18.12 0.34 0.30 1.2 0.81 Middle Zone--------------------------------------------------------------------------------------------------------------------------------------------------------LME-1092 358.00 360.00 2.0 0.42 0.08 299.0 0.55 Adit Target----------------------------------------------------------------------------NOTE: 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 goldprice of US $1200/oz and a long-term copper price of US $2.75/lb. Noadjustment has been made for metallurgical recoveries or net-smelter returnsas these remain uncertain at this time. AuEq formula: AuEq g/t = Au g/t +((Cu% x 22.0462 x 2.75)/(1200/31.1035)) g/t; Ag values are not included.Gold and copper grades capped at 5 g/t Au and 2% Cu, respectively.Intercepts reported as down-hole lengths and may not represent truethicknesses.
