VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/06/11 -- Bellhaven Copper & Gold Inc. (TSX VENTURE: BHV) ("Bellhaven" or the "Company") is pleased to announce that diamond drill-holes LME-1034 and LME-1035 at the Middle Zone yielded multiple gold-copper intercepts starting at surface, extending the mineralized zone to 600 m below surface. These new intercepts demonstrate over 200 m of horizontal continuity of porphyry gold-(copper) mineralization between drill holes LME-1031 to the southwest and DDH-12 to the northeast (see press releases dated November 2, 2010, and August 2, 2011). In addition, the drilling discovered two veins containing potentially significant amount of silver. Similar silver veins have been found elsewhere at the Middle Zone in previous drill holes and may form an additional exploration target.
The Middle Zone is one of eleven known porphyry gold-copper prospects at La Mina, Colombia. The principal prospect, La Cantera, contains 1.0 Moz gold (1.6 Moz gold equi valent) within a NI 43-101 resource announced on Sept 13, 2011. Most of the concession still remains unexplored. Bellhaven holds an option to earn 100% of the La Mina project (see press release dated May 17th, 2010).
For maps showing the location of the drill holes, as well as a geologic cross section highlighting the gold-copper intercepts, please use the following link: http://media3.marketwire.com/docs/bhv106i.pdf.
Paul Zweng, Bellhaven's Interim CEO and Director, commented as follows:
"The results from the latest drill holes collared at the Middle Zone indicate that potentially important zones of gold and copper occur over a horizontal distance of approximately 240 m and over a vertical distance of 600 m. The zones remain open to the southwest, northwest, and southeast. The Middle Zone is now demonstrating size."
"In addition, the drill holes discovered two silver veins containing 10.0 oz/t (311 g/t) silver in one vein and 3.4 oz/t (106 g/t) silver in the other. Together these drill results continue to indicate that La Mina is developing into one of the significant porphyry gold-copper projects in Colombia."
Discussion of the Drill-Hole Results
Bellhaven initiated its drilling program at the La Mina porphyry gold-(copper) project in the summer of 2010 (see press release dated July 27, 2010). The initial drilling occurred at the principal prospect, La Cantera (see press release dated September 9, 2010) and this work culminated with Bellhaven's 43-101 compliant, inferred resource estimate of 1.0 Moz of contained gold (1.6 Moz gold equivalent) at a 0.3 g/t Au cut-off grade for the La Cantera prospect (see press release dated September 13, 2011). The initial holes drilled at the second prospect, the Middle Zone, were highlighted in the press releases of October 12, November 2, and November 17, 2010 and August 2, 2011. This press release describes the results from LME-1034 and LME-1035 at the Middle Zone. The Middle Zone prospect is located approximately 500 m to the north-northwest of the La Cantera prospect. Data related to the new drill holes are presented in Tables 1 and 2.
LME-1034 and LME-1035 were collared at the Middle Zone along a N45 degrees E oriented section line containing drill holes DDH-12, -13, -17 and -031. The two holes were drilled to test the continuity of the lower zone of gold-(copper) mineralization seen in drill holes DDH-012 and DDH-031 (approximately 280 m apart). Both LME-1034 and -35 cut gold-copper near the surface starting at less than 5-m depth. A 268-m long intercept of gold-copper was cut at depth in LME-1034 (including 102 m @ 0.71 g/t Au and 1.12 g/t AuEq), adjacent to the 122-m long intercept containing 0.86 g/t AuEq in LME-1031 (see press release dated August 2, 2011). Bellhaven geologists believe the gold-copper zone continues to the southwest where it remains open and untested. LME-1035 also cut a deep zone (119 m @ 0.24 g/t Au and 0.51 g/t AuEq) to the NE of LME-1034, with the last sample in the drill hole containing 0.49 g/t Au, 0.40% Cu, and 1.19 g/t AuEq. The zone remains open at depth.
The two silver veins show a consistent mineralogy of quartz, calcite, pyrite, sphalerite (zinc sulphide), with lesser amounts of galena (lead sulphide) and possibly tetrahedrite/tennantite or pyrargarite (silver-bearing sulphosalts). These veins cross cut the gold-(copper) mineralization and appear to be late and low-temperature features, typical of porphyry districts elsewhere. The potential economic importance of these veins to the Middle Zone prospect and to the La Mina project is unknown at this time.
Table 1: Drill Hole Coordinates for La Mina Gold-(Copper) Project, Colombia
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Total
Hole DH Collar DH Collar Elevation Azimuth Plunge Length
Number Easting Northing (m.a.s.l.)(degrees)(degrees)(meters) Prospect
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LME-1034 418,990.22 655,057.32 1886.82 45 -79 681.23 Middle
Zone
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LME-1035 418,990.22 655,057.32 1886.82 45 -70 689.19 Middle
Zone
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m.a.s.l. = meters above sea level
Coord = Coordinate
Drill hole coordinates are WGS 1984 UTM Zone 18N
Table 2: Drill-Hole Results for La Mina Gold-(Copper) Project, Colombia
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Drill Hole From To Intercept Au Cu Ag AuEq
Number (m) (m) (m) (g/t) (%) (g/t) (g/t) Prospect
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LME-1034 3.05 32.00 28.95 0.61 0.05 2.0 0.69 Middle Zone
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54.00 62.50 8.50 0.46 0.08 1.5 0.60 Middle Zone
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78.00 86.40 8.40 0.45 0.10 1.8 0.62 Middle Zone
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97.00 110.00 13.00 0.40 0.07 0.8 0.52 Middle Zone
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171.00 225.00 54.00 0.32 0.07 0.9 0.43 Middle Zone
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297.00 299.00 2.00 0.09 0.05 106.0 0.17 Middle Zone
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327.00 595.83 268.83 0.41 0.17 5.3 0.71 Middle Zone
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including 327.00 495.00 168.00 0.54 0.19 7.1 0.86 Middle Zone
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including 327.00 429.42 102.42 0.71 0.24 10.5 1.12 Middle Zone
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including 379.17 381.36 2.19 0.89 0.55 311.0 1.82 Middle Zone
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LME-1035 1.59 64.00 62.41 0.72 0.07 1.9 0.84 Middle Zone
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85.95 99.00 13.05 0.32 0.05 0.9 0.41 Middle Zone
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136.00 143.00 7.00 0.37 0.03 0.6 0.41 Middle Zone
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171.00 178.00 7.00 0.38 0.05 1.0 0.46 Middle Zone
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570.00 689.19 119.19 0.24 0.16 0.8 0.51 Middle Zone
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Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq (g/t) = gold
equivalent (g/t) (Ag not included).
AuEq (g/t) calculated assuming a long-term gold price of $900/oz and a long-
term copper price of $2.25/lb.
No adjustment has been made for metallurgical recoveries or net-smelter
returns as these remain uncertain at this time.
AuEq formula: AuEq g/t = Au g/t + ((Cu% x 22.0462 x 2.25)/(900/31.1035)) g/t
(Ag values 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 true
thicknesses.
ALS Colombia Ltda. prepared the drill-core samples, producing the sample pulps in Medellin, Colombia. The South American Central Lab of ALS Chemex in Lima, Peru, performed all assays pertaining to the drill-core samples highlighted in the text and table above. Gold was analyzed by fire assay on a 50-gram sample with an atomic-absorption finish. Copper, silver and other elements were analyzed using a four-acid digestion and ICP-AES. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field- and pulp duplicates.
About the La Mina porphyry Au-(Cu) prospect
La Mina (also known as Venecia) lies within the Middle Cauca belt of Miocene-age volcano-plutonic rocks in central Colombia known to host large porphyry gold deposits such as La Colosa (12.3 Moz Au; AngloGold Ashanti), Titiribi (8.2 Moz Au; Sunward Resources), Quebradona (AngloGold Ashanti - B2Gold), and Quinchia (Batero Gold), as well as large epithermal gold districts such as Marmato (9.8 Moz Au; Gran Colombia Resources).
Bellhaven announced its first NI 43-101 resource for the La Mina project on September 13, 2011, establishing 1.0 Moz gold (1.6 Moz gold equivalent) the La Cantera prospect. The average grade of 1.26 g/t AuEq (at 0.3 g/t Au cut-off grade) makes La Cantera one of the highest grade porphyry gold-(copper) prospects in the Americas. Bellhaven is currently exploring the other eleven prospects known to exist at La Mina while it develops La Cantera.
The most important host rocks observed in drill core include the Combia Formation intermediate volcanic rocks as well as a series of intermediate composition porphyries and hydrothermal breccias. Alteration is typical of gold porphyry deposits as exemplified by a potassic-calcic core encircled by sericitic, intermediate argillic, and propyllitic alteration zones. Specifically, most of the gold and copper discovered so far at La Cantera and the Middle Zone are spatially associated with quartz-magnetite-chalcopyrite +/- bornite veinlets in potassic altered porphyry and breccias containing elevated quantities of hydrothermal magnetite. As a result, the gold-bearing rocks are highly magnetic (ca. 200x10-3 SI) which creates a sharp contrast with the barren and weakly magnetic intermediate argillic-altered rocks as well as the non-magnetic sericite-altered rocks that surround the potassic core.
This news release has been prepared under the supervision of Mr. Thomas J. Drown, P.Geo., who serves as the qualified person as defined by National Instrument 43-101 responsible for ensuring that the geological information in this release is accurate.
About Bellhaven
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 become one of the best gold-copper companies operating in Panama and Colombia by discovering, acquiring, and developing high-quality resources in a safe and responsible manner to the benefit of all of its stakeholders.
The Company's principal assets include the La Mina porphyry gold-(copper) project in the Middle Cauca belt of Colombia, the Pitaloza and three other high-sulphidation epithermal gold-(copper) and porphyry copper prospects located on the Azuero Peninsula in Panama.
For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.
On behalf of the board of directors,
Paul L. Zweng, CEO & Director
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.
Contacts:
Bellhaven Copper & Gold Inc.
Corporate Contact in North America:
Paul Zweng
CEO/Director
+1-808-377-1947
pzweng@bellhavencg.com
Bellhaven Copper & Gold Inc.
Corporate Contact in Panama:
Julio Benedetti
President/Director
Int'l No: +507-226-3967
www.bellhavencg.com
