Belo Sun Mining Corp. TSX : BSX
June 27, 2012 17:50 ET
TORONTO, ONTARIO--(Marketwire - June 27, 2012) - Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 52 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and selected cross sections are presented below. This release includes results from 26 drill holes from the Ouro Verde deposit and 26 drill holes from the Grota Seca deposit. These holes are part of the drilling program designed to upgrade current inferred mineral resources estimates for the project to the measured and indicated mineral resources categories and continue to expand the estimated mineral resources which will be the basis of the definitive feasibility study. There are several very significant intercepts in this round of results as follows:
In addition, there are several results from detailed drill sections (12.5 meters apart) from both the Ouro Verde and Grota Seca deposits, such as Hole VVGD-381 (located at Ouro Verde Cross Section 487.5 NW) with 38.65 meters grading 2.40 g/t Au (from 43.35 meters) including 16.30 meters grading 3.85 g/t Au (from 59.70 meters) or VVGD-383 (located at Grota Seca Cross Section 1887.5 W) with 55.50 meters grading 2.16 g/t Au (from 43.30 meters) including 11.85 meters grading 3.38 g/t Au (from 53.35 meters). The detail drilling is designed to confirm the continuity between sections used to develop the resource estimates. The detailed sections are at the end of this news release.
Since April 2010 Belo Sun has completed 490 drill holes covering 132,219 meters of drilling, with assays for 29 holes still pending, and is planning to issue an updated mineral resource estimate in the third quarter of 2013.
Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "We are very pleased that the drilling is progressing so well with a record drilling production of 11,140 meters completed last month. We are pleased that the infill drilling continues to provide the information we believe is necessary to upgrade the currently estimated inferred mineral resources to measured and indicated mineral resources, which will be used for the definitive feasibility study. The results from our detailed drilling is confirming that there is good continuity of mineralization and consistent grades thereby providing even further confidence in the deposit model as it moves quickly toward a development phase."
A complete summary of assays are listed below. The current drilling program is designed to upgrade and expand the existing mineral resource estimate and further results will be released as they become available. The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included below.
TABLE 1 - DIAMOND DRILLING ASSAY RESULTS
The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.
Quality Assurance and Quality Control
The scientific and technical information in this press release has been reviewed and approved by David Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Project site. The assay samples are then fine-crushed to better than 80% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.