VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/09/13 -- Belvedere Resources Ltd. (TSX VENTURE: BEL) ("Belvedere") is pleased to announce that it has commenced a 2,000 metre diamond drill program on their 10 km(2) Antikanpera gold property to begin follow up on the Pontio gold discovery.
The Pontio prospect is a blind discovery made in 2012. It sub-crops under shallow peat cover and shows significant size potential, with a true thickness estimated to be approximately 60 metres. Five drillholes have so far defined mineralisation over a strike length of 250 metres. The deepest intersection to date is 50 metres vertically below surface. Mineralisation is associated with chalcopyrite and hosted by a steep east dipping dioritic dyke/sill in gneissic metasediments. Outcrop is minimal but grab and channel sampling of available outcrops has outlined a broad mineralised zone over a strike length of more than two kilometres. The outcrop samples indicate the existence of a number of parallel mineralised intrusions, some of which will be investigated in the current drill campaign. Results from the five Pontio drillholes announced on September 19th 2012 are re-presented below.
David Pym CEO states "The Pontio gold discovery is the most promising target intersected to date on the M2 geophysical trend on the Antikanpera gold property. Outcrop sampling and drilling have begun to outline what appears to be a significant new mineralised system only 35 km to the north of our Hitura nickel mine and mill facilities".
GramHOLE_ID From(m) To(m) Interval(m) Au g/t Cu ppm Metres----------------------------------------------------------------------------BELANP011 24.99 45.84 20.85 1.13 499 23.6----------------------------------------------------------------------------BELANP012 8.95 81.05 72.1 0.88 621 63.1----------------------------------------------------------------------------Including 59.24 78.02 18.78 1.34 583 25.1----------------------------------------------------------------------------BELANP013 19.14 81.18 62.04 1.08 614 67.1----------------------------------------------------------------------------Including 53.22 68.04 14.82 2.29 1220 33.9----------------------------------------------------------------------------BELANP014 25.3 32.2 6.9 1.01 704 7.0----------------------------------------------------------------------------BELANP014 38.26 43.15 4.89 0.95 280 4.6----------------------------------------------------------------------------BELANP014 54.12 78.18 24.06 1.44 498 34.6----------------------------------------------------------------------------BELANP015 5.5 12.61 7.11 0.63 367 4.5----------------------------------------------------------------------------BELANP015 18.87 21.84 2.97 1.85 1043 5.5----------------------------------------------------------------------------BELANP015 27.01 50.7 23.69 1.44 668 34.0----------------------------------------------------------------------------Including 27.01 36.07 9.06 2.32 729 21----------------------------------------------------------------------------BELANP015 73.29 77.14 3.85 0.83 482 3.2----------------------------------------------------------------------------
