Bellhaven Copper & Gold Inc.
TSX VENTURE : BHV

Bellhaven Copper & Gold Inc.

March 09, 2011 05:01 ET

Bellhaven Makes New Discovery at Filo De Oro, La Mina, Colombia; Trench Delivers 22 Meters @ 0.70 g/t Gold-Mineralized Zone Open at Both Ends; Bellhaven Bringing Second Drill Rig to La Mina

PANAMA, REPUBLIC OF PANAMA--(Marketwire - March 9, 2011) - Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is pleased to announce that the first trench targeting the Filo de Oro prospect at La Mina, Colombia, delivered 0.70 g/t Au over 22 m. The mineralized zone is open at both ends (the last sample at the southern end of the trench assayed 1.37 g/t Au, and the last sample at the northern end yielded 0.63 g/t Au). Filo de Oro is a new discovery made by Bellhaven in 2011, located approximately 600 m to the north-northeast of the La Cantera prospect.

Bellhaven also wishes to announce that a second diamond drill rig will be arriving later this month at La Mina to facilitate the rapid advancement of its prospects. As of DDH-19, Bellhaven has drilled over 4,800 m at La Mina since drilling commenced in late July, 2010.

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).

For maps showing the location of Filo de Oro and the trench described above, as well as the individual assays comprising the 0.70 g/t composite assay, please use the following link: http://media3.marketwire.com/docs/bhv39.pdf.

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

"The discovery at Filo de Oro by Bellhaven initially was made by geologists sampling a lone outcrop on a ridge not too distant from La Cantera. We will understand more fully the significance of this discovery when we drill at Filo de Oro later this year."

"We are pleased to receive a second drill rig at La Mina at the end of the month. Putting a second rig to work will allow us to calculate more quickly a resource for La Cantera and to evaluate the other prospects near La Cantera."

ALS Colombia Ltda. prepared the drill-core samples, producing the sample pulps in Bogota. 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 was analyzed using four-acid digestion, 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.

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 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 contained in 381 Mt @ 1.00 g/t Au; AngloGold Ashanti), Titiribi (3.7 Moz Au contained in 230 Mt @ 0.5 g/t 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 contained in 342 Mt @ 0.90 g/t Au; Medoro Resources).

In mid 2006, AngloGold Ashanti and Bema Gold drilled six holes at the La Cantera prospect, with Holes 2 and 5 yielding 90+ m intercepts of greater than 1 g/t Au and significant copper at shallow depths.

The most important host rocks observed in drill core include the Combia Formation intermediate volcanic rocks as well as early, intra- and post-mineral 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 argillically altered rocks as well as the non-magnetic sericitically 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.

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

  • Bellhaven Copper & Gold Inc.
    Corporate Contact in North America
    Paul Zweng, CEO/Director
    +1-808-377-1947
    pzweng@bellhavencg.com
    or
    Bellhaven Copper & Gold Inc.
    Corporate Contact in Panama
    Julio Benedetti, President/Director
    +507-226-3967
    www.bellhavencg.com