Bellhaven Copper & Gold Inc.
TSX VENTURE : BHV

Bellhaven Copper & Gold Inc.

May 12, 2011 07:11 ET

Bellhaven Files NI 43-101 Technical Report for the La Mina Porphyry Gold-(Copper) Project, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2011) -Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is pleased to announce the filing of the first NI 43-101 compliant technical report on SEDAR for the La Mina porphyry gold-(copper) project, Antioquia Department, Colombia (the "Property"). The report is dated April 29, 2011.

La Cantera is the principal porphyry gold-copper prospect at La Mina, Colombia. Five other prospects occur within one km of La Cantera and include the Middle Zone, El Limon, El Cafetal, La Virgen, Filo de Oro, and El Tanque. 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).

Bellhaven commissioned Wardrop, a Tetra Tech Company ("Wardrop"), to assess the La Mina project and to prepare an NI 43-101 compliant technical report. Mr. Callum Grant., P. Eng., completed the technical report which may be accessed on SEDAR at www.sedar.com or on the Company website at www.bellhavencg.com.

The NI 43-101 report states in the Summary section that "Further exploration of the La Mina property is warranted based on the results to date. On-going exploration drilling of all legitimate targets identified to date would provide a basis to assess the cumulative size potential and distribution of economic mineralisation hosted within the priority 1.5 km by 0.6 km strip of ground.

Based on a site visit, review of past and current exploration, and field observations, Wardrop concludes that La Mina is an exploration project of merit and justifies additional exploration expenditures with the objective of determining the total size potential of Au-Cu mineralization possible for the property. This should include checking all lower-priority anomalies identified by Bellhaven or earlier operators."

Paul Zweng, Bellhaven's Interim CEO and Director, commented as follows:

"The completion of the first NI 43-101 report ever for a Bellhaven project represents a major milestone for the Company. This report provides an unbiased, third-party assessment of La Mina, concluding that it is a project of merit. From an operational point of view, the completion of the NI 43-101 technical report now allows the Company to move forward with a resource calculation for La Cantera, the principal prospect at La Mina. Our goal is to develop a resource for La Cantera before year end. Between then and now, Bellhaven will continue to release the results of drill holes from La Cantera as well as the other prospects at La Mina (e.g., El Limon, Filo de Oro, Middle Zone, etc) as well as other important announcements (e.g., metallurgical studies, etc)."

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 (3.7 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; Medoro Resources).

In mid 2006, AngloGold Ashanti and Bema Gold drilled six holes at the La Cantera prospect, with DDH-02 (152 m @ 0.82 g/t Au, 0.26% Cu starting at 24 m) and DDH-05 (106 m @ 1.11 g/t Au, 0.40% Cu starting at 12 m) yielding 100+ m intercepts of greater than 1 g/t AuEq at shallow depths. Bellhaven added to these encouraging results with DDH-08 (87.3 m @ 1.07 g/t Au, 0.30% Cu starting at 0.70 m and 72.7 m @ 0.88 g/t Au, 0.39% Cu starting at 197.1 m), DDH-09 (142.4 m @ 0.70 g/t Au, 0.29% Cu starting at 194.8 m), DDH-14 (126 m @ 1.02 g/t Au, 0.36% Cu starting at 100 m), and DDH-16 (205.3 m @ 0.91 g/t Au, 0.31% Cu starting at 12 m). (True widths are typically 65-85% of reported widths).

The most important host rocks observed in drill core include the Combia Formation intermediate volcanic rocks as well as hydrothermal breccias and diorite porphyry. 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 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.

Six other potentially important targets occur proximal to the La Cantera target: Middle Zone, El Limon, El Cafetal, La Virgen, Filo de Oro and El Tanque.

Mr. Thomas J. Drown, P.Geo., has read and approved the technical information in this news release. Mr Drown is Bellhaven's exploration manager for Panama and is a qualified person as defined by National Instrument 43-101.

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

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.

Contact Information

  • Corporate Contact in North America:
    Bellhaven Copper & Gold Inc.
    Paul Zweng
    CEO/Director
    +1-808-377-1947
    pzweng@bellhavencg.com

    Corporate Contact in Panama:
    Bellhaven Copper & Gold Inc.
    Julio Benedetti
    President/Director
    Int'l No: +507-226-3967
    www.bellhavencg.com