Belo Sun Mining Corp.
TSX : BSX

Belo Sun Mining Corp.

June 27, 2012 17:50 ET

Belo Sun Intersects 55.50 Meters Grading 2.16 g/t Gold at the Grota Seca Deposit, Brazil

TORONTO, ONTARIO--(Marketwire - June 27, 2012) - Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from 52 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. This release includes results from 26 drill holes from the Ouro Verde deposit and 26 drill holes from the Grota Seca deposit. These holes are part of the drilling program designed to upgrade current inferred mineral resources estimates for the project to the measured and indicated mineral resources categories and continue to expand the 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-344 (located at Ouro Verde Cross Section 725 NW) has intersected multiple mineralized zones such as 32.00 meters grading 2.20 g/t Au (from 181.80 meters) including 6.71 meters grading 5.63 g/t Au (from 182.45 meters).
  • Hole VVGD-360 (located at Ouro Verde Cross Section 275 NW) has intersected multiple mineralized zones such as 31.50 meters grading 2.40 g/t Au (from 231.00 meters) including 10.40 meters grading 5.31 g/t Au (from 247.60 meters).
  • Hole VVGD-378 (located at Grota Seca Cross Section 1125 W) has intersected multiple mineralized zones such as 22.10 meters grading 3.00 g/t Au (from 227.90 meters) including 9.50 meters grading 6.12 g/t Au (from 229.50 meters).

In addition, there are several results from detailed drill sections (12.5 meters apart) from both the Ouro Verde and Grota Seca deposits, such as Hole VVGD-381 (located at Ouro Verde Cross Section 487.5 NW) with 38.65 meters grading 2.40 g/t Au (from 43.35 meters) including 16.30 meters grading 3.85 g/t Au (from 59.70 meters) or VVGD-383 (located at Grota Seca Cross Section 1887.5 W) with 55.50 meters grading 2.16 g/t Au (from 43.30 meters) including 11.85 meters grading 3.38 g/t Au (from 53.35 meters). The detail drilling is designed to confirm the continuity between sections used to develop the resource estimates. The detailed sections are at the end of this news release.

Since April 2010 Belo Sun has completed 490 drill holes covering 132,219 meters of drilling, with assays for 29 holes still pending, and is planning to issue an updated mineral resource estimate in the third quarter of 2013.

Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "We are very pleased that the drilling is progressing so well with a record drilling production of 11,140 meters completed last month. We are pleased that the infill drilling continues to provide the information we believe is necessary to upgrade the currently estimated inferred mineral resources to measured and indicated mineral resources, which will be used for the definitive feasibility study. The results from our detailed drilling is confirming that there is good continuity of mineralization and consistent grades thereby providing even further confidence in the deposit model as it moves quickly toward a development phase."

A complete summary of assays are listed below. 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-336 7.00 12.00 5.00 1.63
and 36.00 41.80 5.80 0.94
and 116.20 131.00 14.80 1.51
including 124.00 130.15 6.15 2.93
and 191.40 220.40 29.00 2.54
including 202.75 209.60 6.85 6.04
and 240.70 244.80 4.10 1.59
and 259.15 281.10 21.95 1.54
and 328.00 338.50 10.50 1.42
VVGD-343 0.00 10.00 10.00 0.98
and 22.75 34.70 11.95 1.01
VVGD-344 0.00 4.00 4.00 1.01
and 15.00 19.00 4.00 0.53
and 37.40 46.60 9.20 2.11
and 54.95 60.22 5.27 3.81
and 71.60 81.58 9.98 0.86
and 102.15 105.51 3.36 0.82
and 181.80 213.80 32.00 2.20
including 182.45 189.16 6.71 5.63
and 220.60 225.09 4.49 1.40
and 275.69 281.87 6.18 0.67
and 323.55 328.15 4.60 1.29
and 334.40 347.90 13.50 0.70
VVGD-346 128.00 135.10 7.10 2.71
and 147.20 150.35 3.15 0.78
and 216.00 233.85 17.85 1.74
including 227.53 233.85 6.32 3.62
and 237.85 242.76 4.91 0.88
and 255.90 263.63 7.73 2.59
and 268.12 286.80 18.68 2.79
including 271.34 276.90 5.56 5.86
and 310.40 316.68 6.28 0.90
and 333.65 336.66 3.01 3.22
and 347.62 353.20 5.58 0.55
and 371.06 376.20 5.14 2.14
and 410.00 421.60 11.60 1.08
and 430.80 434.00 3.20 1.06
VVGD-347 115.00 120.84 5.84 0.84
and 132.00 135.00 3.00 0.76
and 142.00 145.00 3.00 0.82
and 179.00 193.90 14.90 1.68
and 244.00 262.74 18.74 2.65
and 272.70 298.40 25.70 1.26
and 308.00 311.00 3.00 0.63
and 321.80 325.00 3.20 1.97
VVGD-349 0.00 8.00 8.00 0.53
and 98.62 109.78 11.16 2.94
and 171.97 182.15 10.18 1.04
VVGD-354 14.00 20.00 6.00 0.76
and 25.05 34.45 9.40 0.71
and 141.40 149.63 8.23 1.72
and 155.05 160.90 5.85 0.71
and 173.05 178.55 5.50 1.83
and 201.60 212.00 10.40 2.56
VVGD-355 172.00 175.00 3.00 0.53
and 202.62 216.00 13.38 0.87
and 244.44 253.00 8.56 0.98
and 270.00 286.00 16.00 2.03
including 275.70 281.20 5.50 4.12
and 363.20 380.00 16.80 1.12
and 387.00 405.00 18.00 1.14
and 415.86 424.00 8.14 0.71
and 432.15 451.00 18.85 1.75
including 432.15 439.00 6.85 3.87
VVGD-356 192.70 202.10 9.40 1.21
and 221.43 226.20 4.77 2.03
and 285.30 288.90 3.60 2.72
VVGD-358 383.34 395.87 12.53 0.96
and 400.86 406.45 5.59 0.92
VVGD-359 21.30 26.65 5.35 1.56
and 37.30 43.00 5.70 1.86
and 53.50 61.50 8.00 0.83
and 67.60 81.88 14.28 2.27
and 95.00 125.25 30.25 1.81
including 104.10 109.40 5.30 6.83
VVGD-360 120.00 124.20 4.20 0.57
and 128.00 132.40 4.40 0.60
and 150.00 156.40 6.40 0.72
and 164.65 174.20 9.55 9.31
and 198.00 211.00 13.00 0.61
and 221.00 226.00 5.00 2.78
and 231.00 262.50 31.50 2.40
including 247.60 258.00 10.40 5.31
and 270.75 279.17 8.42 1.39
and 327.44 333.00 5.56 1.60
VVGD-367 39.80 48.80 9.00 0.85
and 73.00 94.00 21.00 0.80
and 109.00 114.44 5.44 2.71
and 130.00 149.35 19.35 0.95
and 154.00 178.30 24.30 0.99
and 209.30 219.41 10.11 2.88
and 224.75 233.10 8.35 1.37
and 236.70 247.54 10.84 0.96
VVGD-369 NSR
VVGD-371 1.00 11.00 10.00 0.98
and 93.24 105.10 11.86 2.05
and 110.00 122.20 12.20 0.82
and 135.20 145.09 9.89 2.56
VVGD-374 0.00 9.50 9.50 0.76
and 26.50 31.60 5.10 1.92
and 77.00 80.75 3.75 0.66
and 85.80 93.50 7.70 4.37
and 98.00 103.20 5.20 0.71
VVGD-375 15.00 19.50 4.50 0.68
and 134.00 138.45 4.45 0.59
and 219.00 227.00 8.00 0.51
and 237.00 244.30 7.30 3.04
and 254.00 278.90 24.90 0.58
and 326.00 329.00 3.00 1.04
VVGD-376 20.00 26.30 6.30 1.82
and 67.40 70.40 3.00 1.54
and 86.90 95.75 8.85 1.63
and 116.00 122.00 6.00 6.44
and 194.40 201.00 6.60 3.25
and 219.00 222.00 3.00 0.74
and 237.00 241.00 4.00 0.63
and 250.40 271.30 20.90 1.22
including 250.40 258.00 7.60 2.12
and 276.00 280.60 4.60 1.01
and 288.00 298.00 10.00 0.90
and 302.40 310.00 7.60 2.20
and 317.90 323.20 5.30 1.10
and 329.00 332.00 3.00 2.04
and 423.00 427.00 4.00 1.61
and 437.90 441.00 3.10 1.56
VVGD-381 43.35 82.00 38.65 2.40
including 59.70 76.00 16.30 3.85
and 128.00 140.40 12.40 3.12
VVGD-385 0.00 9.00 9.00 0.78
and 30.85 48.30 17.45 1.18
and 112.40 124.25 11.85 1.60
VVGD-387 18.00 27.00 9.00 0.68
and 46.00 52.10 6.10 1.29
and 111.00 127.00 16.00 1.07
and 144.00 147.40 3.40 0.59
and 232.40 237.00 4.60 0.62
and 243.00 253.75 10.75 0.78
VVGD-388 25.00 29.62 4.62 2.07
and 39.00 58.62 19.62 1.37
and 68.00 73.05 5.05 0.67
and 84.00 94.60 10.60 0.64
VVGD-391 0.00 5.80 5.80 0.57
and 31.00 36.00 5.00 0.77
and 97.34 103.40 6.06 1.23
and 108.00 119.00 11.00 1.39
and 135.00 141.20 6.20 1.72
and 149.00 167.00 18.00 1.45
and 182.00 187.00 5.00 2.35
and 219.30 225.80 6.50 3.13
VVGD-393 2.00 5.00 3.00 2.41
and 13.00 18.00 5.00 0.55
and 50.30 56.00 5.70 2.25
and 72.00 80.30 8.30 1.87
and 85.00 102.00 17.00 1.87
VVGD-394 95.00 98.20 3.20 1.05
and 104.28 107.70 3.42 2.29
and 195.35 216.80 21.45 1.30
including 199.00 204.60 5.60 3.33
and 224.00 243.75 19.75 0.97
including 224.00 232.15 8.15 1.34
and 249.50 253.80 4.30 0.68
and 257.32 266.53 9.21 0.51
VVGD-398 13.00 19.80 6.80 1.91
and 115.80 119.00 3.20 0.66
VVGD-402 7.00 24.20 17.20 0.54
and 33.40 37.45 4.05 1.25
and 110.00 117.35 7.35 1.11
VVGD-403 0.00 7.00 7.00 0.87
and 168.00 183.71 15.71 9.15
Grota Seca Deposit
Hole # From (m) To (m) Width (m) Au g/t
VVGD-341 55.00 61.20 6.20 1.03
and 95.63 100.70 5.07 3.80
and 116.80 124.20 7.40 0.60
and 133.90 137.00 3.10 0.57
and 153.80 161.00 7.20 0.81
and 168.00 176.20 8.20 2.18
and 247.70 256.85 9.15 3.26
and 309.85 326.80 16.95 0.83
and 332.90 342.76 9.86 1.20
VVGD-342 13.60 24.55 10.95 0.76
and 127.00 140.00 13.00 0.66
and 147.00 154.90 7.90 2.09
and 179.90 187.00 7.10 0.50
and 211.00 215.00 4.00 0.98
and 285.00 291.40 6.40 1.05
VVGD-350 236.00 242.00 6.00 0.71
and 263.95 274.05 10.10 0.74
and 289.69 313.24 23.55 0.78
and 328.65 332.65 4.00 1.81
and 342.25 349.00 6.75 0.74
and 361.00 365.00 4.00 0.63
VVGD-352 116.70 125.60 8.90 1.09
and 134.40 142.00 7.60 3.90
and 317.60 324.20 6.60 2.00
and 348.00 352.20 4.20 1.06
VVGD-353 140.00 144.00 4.00 0.55
and 167.00 171.00 4.00 1.17
and 209.30 217.85 8.55 0.64
and 327.62 336.40 8.78 1.81
VVGD-361 2.00 7.33 5.33 1.34
and 12.65 51.30 38.65 2.65
including 24.40 43.00 18.60 4.77
VVGD-362 185.00 189.28 4.28 1.22
and 194.23 198.00 3.77 0.70
and 224.05 234.53 10.48 0.55
and 243.05 272.45 29.40 1.13
and 293.25 298.45 5.20 1.23
and 304.20 309.50 5.30 0.53
and 371.07 375.25 4.18 0.78
VVGD-363 0.00 6.28 6.28 0.79
and 15.10 50.73 35.63 2.37
including 20.07 33.00 12.93 5.04
and 68.10 73.13 5.03 0.66
VVGD-364 68.30 75.00 6.70 0.59
and 85.20 99.00 13.80 1.01
and 121.00 128.39 7.39 0.62
and 169.38 174.80 5.42 1.95
VVGD-366 0.00 19.75 19.75 0.89
and 42.25 67.69 25.44 1.84
including 55.30 65.00 9.70 3.75
and 80.15 84.24 4.09 6.89
VVGD-368 140.62 145.00 4.38 1.73
and 192.00 213.40 21.40 0.64
and 232.86 239.00 6.14 0.53
and 255.00 273.00 18.00 0.58
and 280.00 284.00 4.00 1.03
VVGD-370 47.00 52.00 5.00 0.63
and 57.00 64.00 7.00 0.83
and 68.00 82.80 14.80 0.73
and 93.00 125.95 32.95 0.89
VVGD-372 NSR
VVGD-373 87.00 95.32 8.32 0.92
and 109.15 124.80 15.65 0.75
and 128.18 157.00 28.82 0.97
VVGD-377 36.00 42.00 6.00 1.17
and 76.00 106.60 30.60 1.47
including 95.00 103.60 8.60 2.55
VVGD-378 94.00 103.85 9.85 0.92
and 124.00 128.00 4.00 1.04
and 139.45 149.00 9.55 0.77
and 227.90 250.00 22.10 3.00
including 229.50 239.00 9.50 6.12
and 255.15 258.00 2.85 8.40
and 275.80 289.40 13.60 0.83
VVGD-379 NSR
VVGD-383 7.45 33.40 25.95 1.01
and 43.30 98.80 55.50 2.16
including 53.35 65.20 11.85 3.38
VVGD-384 NSR
VVGD-389 0.00 5.00 5.00 0.76
and 79.00 83.00 4.00 0.81
and 99.00 103.50 4.50 2.23
and 163.00 169.00 6.00 0.90
VVGD-390 134.80 148.00 13.20 0.66
and 157.00 162.00 5.00 0.64
VVGD-392 100.10 109.70 9.60 0.70
VVGD-395 0.00 10.00 10.00 0.51
and 27.95 41.00 13.05 0.74
and 45.80 50.30 4.50 1.60
and 61.00 73.05 12.05 0.76
and 90.70 95.00 4.30 1.07
and 166.20 172.48 6.28 0.56
and 210.50 214.00 3.50 0.85
and 236.10 245.00 8.90 0.59
and 278.80 284.25 5.45 2.45
and 325.00 333.00 8.00 0.87
VVGD-401 0.00 3.00 3.00 1.11
and 11.00 22.00 11.00 0.83
and 53.15 60.65 7.50 1.39
and 111.00 115.00 4.00 0.56
and 134.00 139.00 5.00 0.55
and 157.06 164.05 6.99 1.62
and 184.22 209.00 24.78 1.67
VVGD-406 NSR
VVGD-421 4.00 7.25 3.25 1.28
and 48.86 53.00 4.14 1.42
and 135.50 141.13 5.63 1.46
and 148.60 152.15 3.55 0.54

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 figures associated with this release, please visit the following links:

http://media3.marketwire.com/docs/bsx0627fig1.pdf

http://media3.marketwire.com/docs/bsx0627fig2.pdf

http://media3.marketwire.com/docs/bsx0627fig3.pdf

http://media3.marketwire.com/docs/bsx0627fig4.pdf

http://media3.marketwire.com/docs/bsx0627fig5.pdf

http://media3.marketwire.com/docs/bsx0627fig6.pdf

http://media3.marketwire.com/docs/bsx0627fig7.pdf

http://media3.marketwire.com/docs/bsx0627fig8.pdf

http://media3.marketwire.com/docs/bsx0627fig9.pdf

http://media3.marketwire.com/docs/bsx0627fig10.pdf

Contact Information

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