Belo Sun Mining Corp.
TSX VENTURE : BSX

Belo Sun Mining Corp.

July 05, 2011 06:45 ET

Belo Sun Drills New Mineralized Zones at the Ouro Verde Deposit and High Grade Gold on the South Block Target

- Significant intercepts include VVGD-095 with 34.45 meters grading 1.63 g/t Au (from 197.40 meters depth)

- Hole VVGD-094 (Grota Seca Cross Section 650 W) intercepted 21.40 meters grading 2.78 g/t Au including 6.82 meters grading 7.08 g/t Au

TORONTO, ONTARIO--(Marketwire - July 5, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from fourteen 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 in Table 1 below. Results from fourteen drill holes include assays of seven drill holes from the Ouro Verde deposit, five drill holes from the Grota Seca deposit and two from the South Block target.

Highlights:

  • Holes VVGD-095 and VVGD-086 (Ouro Verde Cross Section 750 NW and 800 NW respectively), which were drilled as part of the infill drilling program designed to upgrade the resources, intersected multiple mineralized zones approximately 100 meters below the existing optimal pit. The holes are located at the present limit of the deposit and indicate the potential to continue extending the currently defined deposit. Significant intercepts include: 34.45 meters grading 1.63 g/t Au (from 197.40 m depth) and 27.80 meters grading 1.32 g/t Au (from 235.80 m depth).
  • High grade intercepts have been drilled at the South Block. Holes VVGD-078 and VVGD-090 intercepted 1.15 meters grading 11.60 g/t Au and 2.00m grading 12.44 g/t Au respectively. Additionally, Hole VVGD-090 intercepted 7.95 meters grading 1.75 g/t Au.
  • Hole VVGD-094 (Grota Seca Cross Section 650 W) intercepted 21.40 meters grading 2.78 g/t Au including 6.82 meters grading 7.08 g/t Au at shallow depth which will also improve the Project's economics.

To date, Belo Sun has completed 123 drill holes at the Volta Grande Gold Project, of which assays are pending for 26 holes. The current drilling program is designed to upgrade and expand the existing mineral resource estimate and further drill results will be released as they become available.

The geological map of the Volta Grande Gold Project, with diagrams which illustrate the main deposit locations, is included in Figure 1 below.

Helio Diniz, the Vice President of Exploration for Belo Sun, stated, "The new zones which were identified at the NW extension of the Ouro Verde deposit continue to indicate the enormous potential for expanding the current resources at Volta Grande. With the new drill rigs expected to arrive at the project imminently, we anticipate that the ongoing drilling program will further accelerate an increase in the mineral resources in addition to upgrading the resource categories from Indicated and Inferred to Measured and Indicated".

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 6/20/2011
Grota Seca target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-085 71.78 75.13 3.35 0.95
and 89.65 110.25 20.60 0.63
VVGD-087 12.35 16.70 4.35 1.00
and 157.59 167.23 9.64 0.63
and 172.65 208.75 36.10 1.04
including 177.75 185.35 7.60 1.81
and 227.00 232.40 5.40 1.45
VVGD-089 66.71 69.94 3.23 1.15
and 90.75 100.15 9.40 0.54
and 104.10 107.10 3.00 0.58
and 185.08 189.27 4.19 1.09
and 209.74 216.50 6.76 1.11
VVGD-093 86.20 98.17 11.97 1.61
including 88.00 94.05 6.05 2.63
and 136.88 145.10 8.22 2.51
including 140.80 145.10 4.30 4.41
VVGD-094 100.10 121.50 21.40 2.78
including 107.78 114.60 6.82 7.08
and 157.70 168.60 10.90 0.55
and 177.60 191.70 14.10 1.70
including 182.80 191.70 8.90 2.55
and 204.70 214.70 10.00 0.53
and 269.00 285.75 16.75 0.97
and 297.00 302.00 5.00 0.82
South Block
Hole # From (m) To (m) Width (m) Au g/t
VVGD-078 48.80 49.95 1.15 11.60
and 66.55 76.75 10.20 0.72
VVGD-090 86.30 89.30 3.00 2.29
and 144.65 146.65 2.00 12.44
and 228.05 229.30 1.25 7.14
and 251.85 254.85 3.00 0.65
and 279.45 287.40 7.95 1.75
Ouro Verde target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-081 17.00 20.00 3.00 3.48
and 26.00 38.00 12.00 0.79
and 157.21 174.11 16.90 0.78
and 260.00 263.70 3.70 0.63
VVGD-084 68.00 82.00 14.00 2.48
VVGD-086 20.00 24.85 4.85 0.54
and 31.00 34.00 3.00 6.27
and 46.00 49.40 3.40 1.21
and 160.40 171.25 10.85 0.71
and 179.50 202.40 22.90 1.11
including 182.50 189.00 6.50 2.01
and 235.80 263.60 27.80 1.32
including 236.80 244.20 7.40 3.51
VVGD-088 126.42 131.30 4.88 0.60
VVGD-095 61.60 65.60 4.00 0.73
and 80.50 83.50 3.00 0.83
and 91.50 114.00 22.50 0.53
and 128.35 154.50 26.15 1.18
including 128.35 136.50 8.15 1.62
and 197.40 231.85 34.45 1.63
including 206.60 214.10 7.50 3.67
and 268.55 273.20 4.65 1.11
and 291.80 313.35 21.55 1.39
and 319.35 341.40 22.05 0.92
and 353.10 356.10 3.00 0.62
VVGD-096 0.00 10.00 10.00 0.94
and 42.86 77.00 34.14 1.37
including 51.95 60.30 8.35 2.19
and 131.88 140.68 8.80 0.81
VVGD-097 0.00 8.60 8.60 0.61
and 14.60 19.60 5.00 0.62
and 75.00 78.00 3.00 0.70
and 173.20 193.00 19.80 1.30
including 173.20 176.20 3.00 6.53
and 204.00 220.00 16.00 1.33
including 205.40 214.60 9.20 1.97
and 236.97 241.00 4.03 0.53

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 85% 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 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://file.marketwire.com/release/710298_figures_0705.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
    www.belosun.com