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Wed, June 20, 2012
Tue, June 19, 2012 Belo Sun Discovers New Mineralized Zone at Its Volta Grande Gold Project, Brazil
June 19, 2012 16:30 ET
Belo Sun Discovers New Mineralized Zone at Its Volta Grande Gold Project, Brazil
TORONTO, ONTARIO--(Marketwire - June 19, 2012) -Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") is pleased to announce the complete results of its Reverse Circulation (RC) drilling program carried out at the Gréia target at its 100%-owned Volta Grande gold project in Para State, Brazil.
This release incorporates results from 48 RC drill holes corresponding to a total of 9,529 meters of drilling completed to date. The Gréia target is located approximately 800 meters to the east of the Ouro Verde Deposit and directly north of the Grota Seca deposit. An area of 1 km x 1 km with several gold soil geochemical anomalies was tested using a drilling grid of about 200 meters x 100 meters spacing (see Figure 1).
Significant gold mineralization was intercepted in several holes.
Highlights of the program and intercepts with significant mineralization are:
- VVGR-001 (L 2200 W) with 19 meters grading 1.16 g/t Au (from surface).
- VVGR-019 (L 2000 W) with 12 meters grading 1.13 g/t Au (from 14 meters) and 14 meters grading 1.74 g/t Au (from 155 meters).
- VVGR-025 (L 1800 W) with 12 meters grading 1.55 g/t Au (from 77 meters).
These results could represent an important new mineralized zone with potential to further increase the Volta Grande project mineral resource estimate. Systematic delineation diamond drilling is planned to confirm and expand the newly identified mineralization in this area. (Please see the two attached drill location maps Figures 1 & 2)
Drill hole results from holes VVGR-001, VVGR-019, VVGR-021 and VVGR-042 in the southern portion of the Gréia Target area have been incorporated into the Grota Seca deposit 3D block model used in the April 2012 mineral resource estimate. (Press release issued on April 25, 2012)
Helio Diniz, Vice President Exploration of the Company, commented: "We are delighted to announce another positive round of results on our Volta Grande Gold Project. This is an impressive mineralized system and it is really encouraging that after more than two years of intensive drilling we continue to discover additional gold mineralization in the area."
Gréia target drill results are presented in the table below:
| Greia Target - NR 06/19/2012 | ||||
| Hole # | From (m) | To (m) | Width (m) | Au g/t |
| VVGR-001 | 0.00 | 19.00 | 19.00 | 1.16 |
| VVGR-002 | 42.00 | 47.00 | 5.00 | 0.98 |
| and | 105.00 | 108.00 | 3.00 | 1.23 |
| VVGR-003 | NSR | |||
| VVGR-004 | 4.00 | 23.00 | 19.00 | 0.84 |
| including | 13.00 | 19.00 | 6.00 | 1.50 |
| and | 37.00 | 43.00 | 6.00 | 0.60 |
| and | 148.00 | 152.00 | 4.00 | 0.53 |
| VVGR-005 | NSR | |||
| VVGR-006 | NSR | |||
| VVGR-007 | NSR | |||
| VVGR-008 | 93.00 | 96.00 | 3.00 | 3.18 |
| VVGR-009 | NSR | |||
| VVGR-010 | NSR | |||
| VVGR-011 | 61.00 | 64.00 | 3.00 | 0.71 |
| VVGR-012 | 164.00 | 167.00 | 3.00 | 1.68 |
| VVGR-013 | NSR | |||
| VVGR-014 | NSR | |||
| VVGR-015 | NSR | |||
| VVGR-016 | NSR | |||
| VVGR-017 | 4.00 | 7.00 | 3.00 | 0.84 |
| VVGR-018 | 55.00 | 58.00 | 3.00 | 0.64 |
| VVGR-019 | 14.00 | 26.00 | 12.00 | 1.13 |
| and | 155.00 | 169.00 | 14.00 | 1.74 |
| VVGR-020 | 0.00 | 5.00 | 5.00 | 0.90 |
| and | 127.00 | 131.00 | 4.00 | 0.93 |
| VVGR-021 | 57.00 | 64.00 | 7.00 | 0.57 |
| and | 135.00 | 143.00 | 8.00 | 0.73 |
| and | 156.00 | 160.00 | 4.00 | 1.92 |
| and | 181.00 | 184.00 | 3.00 | 1.25 |
| VVGR-022 | 7.00 | 22.00 | 15.00 | 0.59 |
| VVGR-023 | NSR | |||
| VVGR-024 | NSR | |||
| VVGR-025 | 77.00 | 89.00 | 12.00 | 1.55 |
| VVGR-026 | NSR | |||
| VVGR-027 | NSR | |||
| VVGR-028 | NSR | |||
| VVGR-029 | 14.00 | 17.00 | 3.00 | 0.91 |
| and | 125.00 | 130.00 | 5.00 | 1.20 |
| VVGR-030 | NSR | |||
| VVGR-031 | NSR | |||
| VVGR-032 | NSR | |||
| VVGR-033 | NSR | |||
| VVGR-034 | NSR | |||
| VVGR-035 | NSR | |||
| VVGR-036 | NSR | |||
| VVGR-037 | NSR | |||
| VVGR-038 | NSR | |||
| VVGR-039 | NSR | |||
| VVGR-040 | 80.00 | 86.00 | 6.00 | 0.55 |
| VVGR-041 | NSR | |||
| VVGR-042 | 0.00 | 3.00 | 3.00 | 1.19 |
| and | 8.00 | 15.00 | 7.00 | 0.62 |
| and | 68.00 | 72.00 | 4.00 | 1.26 |
| and | 83.00 | 88.00 | 5.00 | 1.04 |
| VVGR-043 | NSR | |||
| VVGR-044 | NSR | |||
| VVGR-045 | 11.00 | 15.00 | 4.00 | 0.88 |
| VVGR-046 | 10.00 | 20.00 | 10.00 | 0.92 |
| VVGR-047 | 171.00 | 174.00 | 3.00 | 2.57 |
| VVGR-048 | 175.00 | 182.00 | 7.00 | 1.32 |
Quality Assurance and Quality Control
The scientific and technical information in this press release has been reviewed and approved by Carlos H. C. Costa, P,Geo, Project Manager for Belo Sun and David Gower, P. Geo., an advisor to Belo Sun, who are Qualified Persons as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos H. C. Costa. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database.
RC holes were drilled on 5" diameter and entire sample was collected into a large plastic bag tightly clamped onto the base of the cyclone. The entire length of each RC hole is sampled at one-meter sample length interval for all holes.
Samples were reduced in size by riffle splitting using a two stage Jones riffle splitter to about two kilograms each sample, and then placed in numbered sample bags and sealed for dispatch, one sample to the SGS lab preparation at Parauapebas-PA and one sample was stored for further reference.
Samples were crushed to 80% passing 10 meshes, homogenized and split to about 1kg that was pulverized to 85% passing 200 meshes, then sent to SGS Lab at Vespasiano-MG for assay using 50g fire assay. Belo Sun has routinely employed QA/QC procedures using certified blanks and standards that were inserted every 16 samples.
The impact of these assay results on the projected economics of the Project has not been the subject of a revised preliminary assessment or a pre-feasibility study or feasibility study.
ABOUT BELO SUN
Belo Sun Mining Corp. is a Canadian based mineral exploration company with a portfolio of properties in Brazil. Belo Sun's primary focus is on expanding identified mineral resources and completing a feasibility study on its 100% owned Volta Grande Project in Para State, which hosts a 2.85 million ounce (Measured & Indicated) at an average grade of 1.69 g/t Au, and 1.97 million ounce (Inferred) at an average grade of 1.70 g/t Au NI 43-101 compliant gold mineral resource estimate. Belo Sun trades on the TSX under the symbol "BSX". For more information about Belo Sun please visit [ www.belosun.com ]. (Please see Press Release dated April 25, 2012)
Cautionary Statement on Forward Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of drill results on the Company, the projected economics of the project, and the Company's understanding of the project; statements with respect to the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at [ www.sedar.com ]and on the Company's website at [ www.belosun.com ]. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view Figure 1: Greia Drill Location Map and Figure 2: Greia Mineralized zones, please visit the following link: [ http://media3.marketwire.com/docs/BeloSunMining.pdf ].
