Based on geologic mapping and sampling, the La Garrucha system comes to surface and this peripheral drilling has confirmed its depth potential. The overall scale and depth potential of the Garrucha system is also exciting. Over the last year, new interpretations of the airborne magnetics have increased the importance of these features as they suggest a possible connection at depth between the La Cantera porphyry and the La Garrucha mineral system (See Figure 3 and Company news release dated Nov. 14, 2012).
The Company will begin its work almost immediately with mapping, sampling, and surveying over the core of the Garrucha anomaly. The project team is currently seeking new proposals from drilling contractors, and expects to commence drilling in May of 2013.
Area of Interest under the Agreement
Since the mineralized La Garrucha porphyry is known to exist near the boundary between the two concessions, the parties chose to outline an Area of Interest ("AOI") that includes the majority of the near-surface anomaly (See Figures 2 and 3). The AOI includes a 400m wide strip of Bellhaven's La Mina concession. Bellhaven expenditures on the Property, and anywhere inside the AOI, will apply to the earn-in. Furthermore, if a joint venture is formed in the future, this narrow strip of Bellhaven mineral rights may be vended into the joint venture to facilitate full development of the La Garrucha resource. Neither AGAC nor the possible future joint venture will have any rights to any other portions of the La Mina concession, including the mineral resources at the La Cantera and Middle Zone deposits.
The technical information in this news release has been reviewed and approved by Mr. Thomas J. Drown, P.Geo. Mr. Drown has more than 25 years relevant experience and is a British Columbia Professional Geoscientist. He is a senior project geologist with the Company at the La Mina Project and serves as the qualified person as defined by National Instrument 43-101.
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE: BHV) exploration company exploring for gold and copper in Panama and Colombia. The Company's objective is to be a leader in responsible gold and copper development in Panama and Colombia. Bellhaven will focus on discovery, acquisition, and development of high-quality resources in a safe and responsible manner for the benefit of all of its stakeholders.
The Company's flagship project is the La Mina porphyry gold-(copper) project in the Middle Cauca belt of Colombia. In July 2012, the Company increased the mineral resource inventory at the La Mina Project by 60% with the announcement of an inferred resource at Middle Zone. The total La Mina resource now includes 1.6 Moz gold and 419 million pounds of copper (or 2.55 Moz gold equivalent) contained in 79.87 million tonnes averaging 0.62 g/t Au, 0.24% Cu, or a gold equivalent grade of 1.0 g/t (based on a 0.30 g/t Au cutoff grade). The Company is currently seeking to grow these resources through ongoing exploration on the La Mina concession. For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.
On behalf of the board of directors,
R. Patrick Highsmith, Chief Executive Officer
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.
Bellhaven Copper & Gold Inc.
North America: +1-303-470-8700, ext 24
Contact in Panama:
Bellhaven Copper & Gold Inc.
Int'l No: +507-226-3967
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