DENVER, COLORADO -- (Marketwire) -- 01/17/13 -- Bellhaven Copper & Gold Inc. (TSX VENTURE: BHV) ("Bellhaven" or the "Company") is pleased to provide an update on its 6-month work plan and key objectives for 2013 regarding the La Mina Project (Figure 1). The Company has an aggressive plan to drill its top-tier targets at La Garrucha and Cristalina. After increasing the inferred mineral resources at La Mina by 60% in 2012, the Company intends to continue the growth by returning to the La Garrucha discovery (See Company news release dated February 29, 2012) and thereafter drilling the first holes at the Cristalina target (Figures 2 and 3).
The La Garrucha porphyry gold-copper target is approximately 700m east of Bellhaven's 100% controlled La Cantera deposit (approx. 1M oz of gold in inferred resources - see resource details below). The next phase of drilling at La Garrucha includes 6 holes totaling approximately 2,000 metres, to commence during the first quarter of 2013. The Company has already secured surface access and drilling permits for the initial 2013 drill program at La Garrucha.
The untested Cristalina gold-copper target is approximately 600m south of La Cantera. Although data are still being compiled, the Company plans approximately 2,800m of drilling during the first half of the year. Access to the Cristalina anomaly is excellent and Bellhaven also has the necessary permits in to drill in this area.
For maps showing the location of these target areas, plus relevant geophysical, geological, and soil geochemical information, please use the following link: http://file.marketwire.com/release/BHV_847356_Figures.pdf.
Patrick Highsmith, Bellhaven's CEO, commented on the plan for 2013:
"Bellhaven intends to grow the La Mina resources to more than 3.0 million ounces of gold. The new discoveries at La Cantera and Middle Zone yielded discovery costs of less than $5.00 per ounce, so our focus in early 2013 is on the new discovery at La Garrucha and an exciting new target at Cristalina. The last round of drilling at La Garrucha ended with +1.0 g/t gold in the bottom of hole LME-1047, so the drill is moving there this month to follow up that result. Garrucha is a known porphyry gold-copper system that appears to be the heart of the La Mina district as we currently understand it. We look forward to realizing the potential of the entire La Mina Project; and our steady work and strong focus will be conducive to regular news flow in 2013."
Expected News Flow
Bellhaven has plans for an active quarter, including: drilling, interpretation of geochemical and geophysical data, negotiations on new mineral concessions and surface properties, environmental studies, and metallurgical test work. The following is a summary of the news flow expected from the Company during the next few months:
-- Results from current 2,000+ metre drill program at La Garrucha (throughout Q1 2013)-- ZTEM airborne survey results (February and March 2013)-- Results from pending 2,800 metre drill program at Cristalina (Q2 2013)-- Acquisitions of additional surface and mineral rights at La Mina (expected in Q1 2013)-- Update regarding Bellhaven's projects in Panama (Q1 2013)-- Environmental scoping study report on La Mina (February 2013)-- Update on metallurgical test work on La Mina (March 2013)