Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

April 28, 2011 16:05 ET

Belo Sun Announces More Positive Drilling Results From 11 Holes at Its Volta Grande Gold Project in Para State Brazil

- Highlights Include High Grade on the South Block 23.59 g/t Over 3.8 Meters and Expansion at Ouro Verde to the Southeast

TORONTO, ONTARIO--(Marketwire - April 28, 2011) -Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from eleven additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and cross sections are presented below.

Results from the eleven drill holes being released include assay results from the first two drill holes of the recently initiated South Block drill program, as well as from five drill holes from the Grota Seca deposit and four drill holes from the Ouro Verde deposit. Multiple mineralized zones continue to be intercepted in both deposits.

Mark Eaton, President and CEO of Belo Sun states, "It is very gratifying to see significant intersections in our initial drilling from the South Block. The South Block is a characterized by a very extensive alteration system that extends for approximately seven kilometers and our geological team is very excited by the potential for a significant resource in this broad system."

Highlights:

  • Hole VVGD-070 (South Block, Pequi target Cross Section 3200 S) intersected 3.80 meters grading 23.59 g/t Au. Hole VVGD-075 (Cross Section 3300 S) had an intercept of 11.08 meters grading 1.87 g/t Au. These drill holes were targeting Induced Polarization (IP) geophysical anomalies. The gold mineralization in the South Block is associated with quartz veins and disseminated sulfides (mainly Pyrite) in highly Potassic, hydrothermally altered rocks.
  • Hole VVGD – 073 (Ouro Verde Cross Section 525 NW), intersected multiple mineralized zones including: 12.06 meters grading
    4.07 g/t Au including 6.00 meters grading 7.75 g/t Au and 21.13 meters grading 3.22 g/t Au including 11.72 meters grading 5.12 g/t Au
    and 12.92 meters grading 2.84 g/t Au. All intercepts are at depths less than 100 meters vertically below surface.
  • Hole VVGD-065 (Grota Seca Cross Section 1925 W) intersected multiple mineralized zones including: 39.30 meters grading 2.07 g/t Au, including 12.80 meters grading 3.24 g/t Au and 28.02 meters grading 2.06 g/t Au and 7.80 meters grading 6.66 g/t Au. This mineralized zone is entirely open at depth. Hole VVGD-072 (Grota Seca Cross Section 900 W) had an intercept of 7.57 meters grading 13.37 g/t Au.

Belo Sun has now drilled four holes in the South Block (see figure 2). Two holes were drilled at the Pequi target and two holes were drilled 1.5 kilometres southeast at the Itata target (assays pending). Presently drilling continues 500 meters northeast of the Pequi target.

To date, Belo Sun has completed approximately 95 drill holes at the Volta Grande Gold Project, of which assays are pending for 19 holes. The current drilling program is designed to upgrade and expand the existing mineral resource estimate and further results will be released as they are received.

The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included below.

Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "The results of the holes being released are mostly from sections on the boundaries of the deposits and they confirm the continuity of the mineralization remains open."

Table 1 Diamond Drilling Assay Results Below:

TABLE 1 – DIAMOND DRILLING ASSAY RESULTS
The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.
NR 4/29/2011
Grota Seca targetOuro Verde target
Hole #From
(m)
To
(m)
Width
(m)
Au
g/t
Hole #From
(m)
To
(m)
Width
(m)
Au
g/t
VVGD-05425.6036.3010.702.14VVGD-05016.4026.209.800.80
including29.8036.306.503.31and127.80134.807.001.12
and101.32105.253.930.74including127.80130.502.701.94
VVGD-0650.00136.00Pending Resultsand148.80166.0017.201.39
and139.00144.605.600.48including154.80162.007.202.53
and175.70215.0039.302.07VVGD-05971.9077.455.558.82
including181.00193.8012.803.24and94.30100.205.900.69
and238.40266.4228.022.06and134.55138.003.451.78
and273.40282.759.350.90and232.60238.005.401.79
and364.70372.507.806.66VVGD-0730.004.504.500.73
VVGD-07199.00139.0040.000.65and21.0032.6511.650.51
and160.50165.505.000.71and72.0084.0612.064.07
VVGD-07269.0876.657.5713.37including77.5083.506.007.75
VVGD-076118.50140.9022.400.58and90.42111.5521.133.22
including122.80129.506.701.11including91.18102.9011.725.12
and149.50155.606.100.51and134.07160.7426.671.48
and177.00187.0010.000.66and213.48226.4012.922.84
and194.00219.5025.501.35and292.51305.6513.140.77
including211.00217.506.504.11and314.24320.376.130.87
and237.00247.5010.500.71and334.87338.874.000.79
and346.50349.863.360.86
South Blockand359.92375.5815.660.55
Hole #From
(m)
To
(m)
Width
(m)
Au
g/t
and384.88404.0019.120.49
VVGD-070163.15166.002.851.34and415.68421.605.920.76
and274.20278.003.8023.59and428.00434.856.850.77
VVGD-0754.0010.656.650.68VVGD-07452.4062.6210.220.70
and75.3177.942.631.16and71.8079.828.021.10
and165.92177.0011.081.87and119.00132.2413.240.72
and239.91242.882.970.86and154.95163.858.900.89
and176.05182.306.250.56
and221.04240.8519.813.19
including233.52240.857.337.61
and255.25263.558.300.96
and270.17311.9341.760.93
including284.33291.457.122.52
including301.00307.006.001.56

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 P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not 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 Gold 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 the Figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/FiguresBSX428.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