Belo Sun Mining Corp.
TSX VENTURE : BSX

Belo Sun Mining Corp.

February 07, 2011 07:00 ET

Belo Sun Announces Assay Results from Volta Grande Project and Extends Ouro Verde Deposit

TORONTO, ONTARIO--(Marketwire - Feb. 7, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 15 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. These results extend the known mineralization at the Ouro Verde deposit 50 meters to the northwest and 50 meters to the southeast, giving a total strike length of 1.15 km along strike.

The highlights include the following intercepts:

Grota Seca Deposit:

  • Hole VVGD-043: 23.4 meters grading 1.96 g/t Au, including 11.35 meters grading 3.06 g/t Au

Ouro Verde Deposit:

  • Hole VVGD-039: 16.88 meters grading 2.22 g/t Au, including 7.85 meters grading 3.75 g/t Au and 12.0 meters grading 2.01 g/t Au, including 6.90 meters grading 3.06 g/t Au;
  • Hole VVGD-053: 7.62 meters grading 3.17 g/t Au, including 3.62 meters grading 6.40 g/t Au

Results, which are detailed in the table below, also include an additional 5 drill holes from the Grota Seca deposit as well as an additional 7 drill holes from the Ouro Verde deposit.

Belo Sun has now completed 60 drill holes of its ongoing program, which is designed to upgrade and expand the existing mineral resource. Assay results from six of these holes remain pending at the lab.

The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included at the end of this news release.

Mark Eaton, the President and CEO for Belo Sun, stated, "We continue to be delighted with our ability to consistently expand and upgrade mineralization through our drilling program. We have now added two more drill rigs to the Volta Grande project bringing the total to six."

TABLE 1 – DIAMOND DRILLING ASSAY RESULTS
 
The widths reported above represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.
 
Grota Seca target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-043 0.00 9.56 9.56 0.73
and 15.70 24.03 8.33 0.47
and 69.90 79.15 9.25 2.04
and 112.30 135.75 23.45 1.96
including 116.55 127.90 11.35 3.12
and 185.75 187.25 1.50 7.60
VVGD-046 38.20 61.00 22.80 0.83
and 76.82 80.35 3.53 0.77
and 88.34 93.20 4.86 0.80
and 172.75 181.30 8.55 3.03
and 222.05 228.65 6.60 0.55
and 240.00 244.00 4.00 1.47
and 285.85 304.90 19.05 0.55
VVGD-047 102.86 112.98 10.12 0.72
including 102.86 106.72 3.86 1.18
and 144.00 160.72 16.72 1.14
including 157.35 160.72 3.37 3.03
and 197.34 200.41 3.07 1.12
and 206.75 211.00 4.25 0.61
and 280.94 287.00 6.06 0.66
and 339.97 349.03 9.06 0.50
and 372.50 376.50 4.00 0.96
VVGD-056 25.13 42.54 17.41 0.49
and 48.35 57.70 9.35 0.59
and 63.55 79.55 16.00 0.86
including 65.00 73.08 8.08 1.19
and 86.57 93.57 7.00 0.95
and 126.50 132.20 5.70 0.50
and 207.81 217.15 9.34 0.65
VVGD-057 139.00 142.00 3.00 1.07
VVGD-060 50.95 56.17 5.22 0.61
and 84.00 98.78 14.78 0.56
including 91.50 94.45 2.95 1.42
and 116.10 141.20 25.10 0.90
including 130.45 135.20 4.75 1.89
and 162.60 173.85 11.25 1.38
including 162.60 168.00 5.40 2.14
 
Ouro Verde target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-039 47.00 60.00 13.00 0.63
and 66.00 78.00 12.00 2.20
including 73.00 78.00 5.00 4.96
and 121.12 138.00 16.88 2.22
including 122.70 130.55 7.85 3.75
and 185.50 189.16 3.66 0.60
and 202.35 213.20 10.85 1.11
and 223.11 227.88 4.77 0.81
and 236.92 244.31 7.39 0.69
and 255.32 267.32 12.00 2.01
including 255.32 262.22 6.90 3.06
VVGD-044   NSR  
VVGD-045   NSR  
VVGD-048 160.95 172.87 11.92 2.47
VVGD-049   NSR  
VVGD-051   NSR  
VVGD-052   NSR  
VVGD-053 35.30 44.20 8.90 1.01
and 64.51 68.20 3.69 1.38
and 124.30 127.45 3.15 0.90
and 145.55 153.17 7.62 3.17
including 145.55 149.17 3.62 6.40
and 171.70 179.45 7.75 1.57
including 172.70 176.80 4.10 2.44
and 186.00 193.90 7.90 0.54
and 234.80 239.60 4.80 0.68
VVGD-055   NSR  

Quality Assurance and Quality Control

The scientific and technical information in this press release has been reviewed and approved by David Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos Cravo, Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized and suspected mineralized intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility in Itaituba, Para, Brazil. The assay samples are then fine-crushed to better than 85% passing 10 mesh screen, with an assay pulp split of up to 500 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.

About the Company

Belo Sun Mining Corp. is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun's primary focus is on advancing and expanding its 100% owned Volta Grande Project, located in Para State. Belo Sun trades on the TSX Venture Exchange under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com.

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 these drill results on the Company and its 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 Geological Maps and cross sections please visit the following link: http://media3.marketwire.com/docs/BeloSun.pdf.

NEITHER 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

  • Belo Sun Mining Corp.
    Mark Eaton
    President and CEO
    (416) 309-2137