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Bellhaven Copper & Gold Inc. Announces Completion of First NI 43-101 Compliant Technical Report for La Mina Porphyry Gold-(Copper) Project

Strategic Insights

— 2 min read

Bellhaven Copper & Gold Inc. has completed the first NI 43-101 compliant technical report for the La Mina porphyry gold-(copper) project in Antioquia, Colombia. The report, prepared by Wardrop, a Tetra Tech Company, assesses the project's merit and potential for further exploration. The technical report concludes that La Mina is an exploration project of merit, justifying additional exploration expenditures to determine its total size potential.

The La Mina project, which includes the La Cantera prospect, has yielded significant intercepts of gold and copper at shallow depths. Previous drilling by AngloGold Ashanti and Bema Gold, as well as Bellhaven's own drilling, has identified high-grade gold and copper mineralization associated with quartz-magnetite-chalcopyrite +/- bornite veinlets in potassic altered porphyry and breccias. The project's geology and alteration patterns are characteristic of gold porphyry deposits, suggesting that further exploration is warranted.

Bellhaven's CEO, Paul Zweng, emphasized the importance of the technical report, stating that it provides "an unbiased, third-party assessment of La Mina, concluding that it is a project of merit." The company plans to move forward with a resource calculation for La Cantera, the principal prospect at La Mina, with the goal of developing a resource by year-end.

Key Takeaways:

  • The La Mina porphyry gold-(copper) project in Antioquia, Colombia, has been identified as an exploration project of merit, warranting further exploration.
  • The project's geology and alteration patterns are characteristic of gold porphyry deposits.
  • Previous drilling has identified high-grade gold and copper mineralization associated with quartz-magnetite-chalcopyrite +/- bornite veinlets in potassic altered porphyry and breccias.
  • Bellhaven's CEO, Paul Zweng, has stated that the technical report provides an unbiased, third-party assessment of La Mina, concluding that it is a project of merit.
  • The company plans to develop a resource for La Cantera, the principal prospect at La Mina, by year-end.
  • The La Mina project is located within the Middle Cauca belt of Miocene-age volcano-plutonic rocks, which hosts several significant gold deposits, including La Colosa, Titiribi, and Quinchia.
  • The project's principal porphyry gold-copper prospect, La Cantera, is a top-priority target for further exploration.

Statistics:

  • 6 holes drilled by AngloGold Ashanti and Bema Gold at La Cantera prospect yielded significant intercepts of gold and copper at shallow depths.
  • DDH-02 and DDH-05 yielded 100+ m intercepts of greater than 1 g/t AuEq at shallow depths.
  • Bellhaven's drilling has identified high-grade gold and copper mineralization associated with quartz-magnetite-chalcopyrite +/- bornite veinlets in potassic altered porphyry and breccias.
  • The La Mina project covers an area of approximately 1.5 km by 0.6 km.

Sources:

  • Bellhaven Copper & Gold Inc. (TSX VENTURE: BHV) press release, May 12, 2011
  • Wardrop, a Tetra Tech Company, technical report on La Mina porphyry gold-(copper) project, April 29, 2011
  • Marketwire, "Bellhaven Copper & Gold Inc. Announces Completion of First NI 43-101 Compliant Technical Report for La Mina Porphyry Gold-(Copper) Project", May 12, 2011

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