Belo Sun Mining Corp.
TSX : BSX

Belo Sun Mining Corp.

April 05, 2012 07:30 ET

Belo Sun Drills 49.50 Meters Grading 5.04 g/t Au at Northwest Extension of Ouro Verde Deposit, Brazil

TORONTO, ONTARIO--(Marketwire - April 5, 2012) - Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 14 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and selected cross sections are presented below. The results being released include 12 drill holes from the Ouro Verde deposit and 2 drill holes from the Grota Seca deposit. These holes are part of the 2012 drilling program to upgrade and expand the project estimated mineral resources which will be the basis of the definitive feasibility study. There are several very significant intercepts in this round of results as follows:

  • Hole VVGD-339 (located at Ouro Verde Cross Section 875 NW) has intersected multiple mineralized zones such as 49.50 meters grading 5.04 g/t Au (from 184.90 meters) including 8.33 meters grading 21.79 g/t Au (from 188.12 meters).
  • Hole VVGD-327 (located at Ouro Verde Cross Section 875 NW) has intersected multiple mineralized zones such as 44.20 meters grading 1.90 g/t Au (from 206.80 meters) including 7.27 meters grading 6.54 g/t Au (from 221.85 meters).
  • Significant down dip intercepts in the same region also includes VVGD-331 (Ouro Verde Cross Section 925 NW) with 27.70 meters grading 3.57 g/t Au (from 146.00 meters) including 11.35 meters grading 7.56 g/t Au (from 146.00 meters) and VVGD-340 (Ouro Verde Cross Section 825 NW) with 29.25 meters grading 2.21 g/t Au (from 214.00 meters) including 9.50 meters grading 4.50 g/t Au (from 217.00 meters).

Since April 2010 Belo Sun has completed 107,969 meters of drilling and expects to release a new mineral resource estimate update later this quarter followed by a full report to be issued and filed on SEDAR in due course.

Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "It is very encouraging that the drilling continues to extend the Ouro Verde deposit with such significant intercepts. It demonstrates that the Volta Grande Project north block deposits are part of a major mineralized system that continues to expand beyond the currently known dimensions of about 300-400 meters wide and 4-5 km long. The drilling has shown that the mineralization extends to at least 500 meters from surface. Moreover it is open in all directions".

A complete summary of assays are listed below. To date, Belo Sun has completed 364 drill holes at the Volta Grande Gold Project, of which assays remain pending for 24 holes. The current drilling program is designed to upgrade and expand the existing mineral resource estimate and further results will be released as they become available.

The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included 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.
Ouro Verde Deposit
Hole # From (m) To (m) Width (m) Au g/t
VVGD-318 76.30 79.30 3.00 1.31
and 105.00 108.70 3.70 0.56
and 157.60 165.60 8.00 0.51
VVGD-319 89.20 96.85 7.65 5.10
and 141.50 144.55 3.05 2.88
and 149.60 164.00 14.40 0.96
and 192.80 197.00 4.20 0.82
and 217.00 231.00 14.00 4.94
and 245.55 256.45 10.90 2.14
and 261.50 264.55 3.05 0.68
and 334.70 340.50 5.80 10.16
VVGD-323 0.00 4.14 4.14 0.66
and 143.28 148.32 5.04 0.62
and 205.20 212.93 7.73 1.61
and 236.00 239.62 3.62 0.87
VVGD-324 0.00 5.00 5.00 0.67
and 16.00 22.00 6.00 0.90
and 66.00 82.00 16.00 0.82
and 155.00 161.20 6.20 1.34
and 165.00 196.60 31.60 1.47
including 180.00 190.00 10.00 2.76
and 202.00 206.00 4.00 1.54
VVGD-327 63.20 70.00 6.80 3.22
and 145.00 155.00 10.00 5.82
and 206.80 251.00 44.20 1.90
including 221.85 229.12 7.27 6.54
and 273.00 284.00 11.00 0.55
and 293.00 296.41 3.41 0.76
and 336.00 340.65 4.65 1.14
and 387.00 394.00 7.00 1.00
VVGD-328 0.00 6.00 6.00 0.53
and 131.40 135.20 3.80 0.84
and 158.90 163.60 4.70 2.25
VVGD-330 15.00 18.00 3.00 0.52
and 23.69 28.00 4.31 0.60
and 53.15 58.30 5.15 0.54
and 124.75 129.33 4.58 0.92
and 178.90 193.00 14.10 0.98
VVGD-331 34.00 41.00 7.00 3.85
and 98.00 101.00 3.00 0.69
and 146.00 173.70 27.70 3.57
including 146.00 157.35 11.35 7.56
and 182.00 190.17 8.17 1.45
and 208.45 221.00 12.55 5.15
including 209.00 215.00 6.00 9.76
and 285.00 289.40 4.40 0.60
and 303.00 308.00 5.00 0.72
VVGD-333 83.90 87.10 3.20 0.76
and 92.00 99.20 7.20 0.62
and 183.00 202.30 19.30 2.69
including 193.45 201.30 7.85 4.22
and 271.00 277.00 6.00 1.64
VVGD-335 1.00 6.00 5.00 0.81
and 26.00 31.00 5.00 0.64
VVGD-338 107.10 113.00 5.90 0.52
VVGD-339 28.00 32.10 4.10 0.59
and 135.00 138.85 3.85 1.73
and 153.29 158.38 5.09 0.54
and 184.90 234.40 49.50 5.04
including 188.12 196.45 8.33 21.79
and 278.00 287.48 9.48 0.61
and 304.85 308.00 3.15 0.82
VVGD-340 70.10 74.10 4.00 1.69
and 89.90 98.25 8.35 2.32
and 112.10 115.10 3.00 0.76
and 167.00 173.00 6.00 6.78
and 191.00 200.00 9.00 0.94
and 214.00 243.25 29.25 2.21
including 217.00 226.50 9.50 4.50
and 249.00 259.00 10.00 0.96
and 272.00 275.45 3.45 0.54
and 287.00 291.00 4.00 0.60
and 346.44 354.60 8.16 5.75
and 365.80 371.00 5.20 0.55
and 394.19 398.70 4.51 0.57
Grota Seca Deposit
Hole # From (m) To (m) Width (m) Au g/t
VVGD-332 0.00 3.00 3.00 0.63
and 85.40 97.30 11.90 1.24
and 147.00 151.89 4.89 0.72
and 163.00 167.80 4.80 0.62
and 173.40 184.40 11.00 0.53
and 192.75 210.00 17.25 0.74
and 255.00 266.60 11.60 1.20
VVGD-334 306.00 313.10 7.10 0.59

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 at the Project site. The assay samples are then fine-crushed to better than 80% passing 10 mesh screens, with an assay pulp split of up to 1000 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 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 maps and figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/BSX0504_maps_figures.pdf.

Contact Information

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