Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

July 25, 2011 07:00 ET

Belo Sun Intersects 62.50 Meters Grading 3.81 G/T Gold at the Grota Seca Deposit

Significant intercepts includes VVGD-103 (Grota Seca Cross Section 1850 W) with 62.50 meters grading 3.81 g/t Au (from 28.60 m depth) including 12.85 meters grading 14.01 g/t Au.

TORONTO, ONTARIO--(Marketwire - July 25, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from twelve 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 twelve drill holes include assays from nine drill holes from the Grota Seca deposit, four drill holes from the Ouro Verde deposit and one from the South Block target.

Highlights:

  • Holes VVGD-103 and VVGD-106 (Grota Seca Cross Section 1850 W and 1900 W respectively) which are part of the infill drilling program designed to upgrade the resource categories, intersected multiple mineralized zones. These holes, located at the central part of the Grota Seca deposit, have intersected high grade gold mineralization near surface and they confirm true thickness and continuity of mineralization along strike and at depth. Intercepts include: VVGD-103 with 62.50 meters grading 3.81 g/t Au (from 28.60 m depth) including 12.85 meters grading 14.01 g/t Au and VVGD-106.
  • Hole VVGD-102 (Ouro Verde Cross Section 50 SE) intercepted mineralization between the Ouro Verde and Grota Seca deposits and may suggest the two deposits could be continuous.
  • The infill drilling program at Ouro Verde is progressing as planned and Belo Sun anticipates that the present program will upgraded the resource categories in this area of the property in the near future.

To date, Belo Sun has completed 140 drill holes (35,592m) at the Volta Grande Gold Project, of which assays are pending for 37 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 in Figure 1 below.

Mark Eaton, the CEO for Belo Sun, stated, "These results are encouraging as most of the intercepts are located above 100 meters vertical depth and a number of new zones have been identified which we intend to be follow up with additional drilling along strike. With 10 diamond drill rigs on site there will be a steady stream of news over the next several months."

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.

Grota Seca target Ouro Verde target
Hole # From
(m)
To (m) Width
(m)
Au
g/t
Hole # From
(m)
To (m) Width
(m)
Au
g/t
VVGD-091 0.00 13.78 13.78 1.65 VVGD-092 0.00 23.55 23.55 1.32 RA
and 81.09 85.23 4.14 7.08 and 29.85 33.85 4.00 0.78 RA
and 106.00 113.55 7.55 1.24 and 83.15 105.65 22.50 0.67
and 156.53 170.00 13.47 0.66 including 88.60 94.20 5.60 1.55
and 182.10 216.48 34.38 0.74 and 122.60 143.85 21.25 0.53 RA
including 210.92 216.48 5.56 2.62 and 225.30 235.85 10.55 1.87
VVGD-098 141.60 149.40 7.80 0.48 and 257.50 269.60 12.10 0.86
and 166.00 170.00 4.00 0.68 VVGD-100 0.00 3.00 3.00 1.38
and 177.30 229.70 52.40 0.96 and 24.55 30.63 6.08 0.56
including 182.64 202.90 20.26 1.52 and 55.55 59.57 4.02 0.62
and 241.50 260.60 19.10 0.52 and 92.00 96.65 4.65 0.51
and 0.00 70 and 153.77 157.19 3.42 0.54 RA
and 364.20 368.20 4.00 1.12 RA and 191.25 194.65 3.40 1.53
VVGD-101 0.00 22.60 22.60 0.48 and 202.22 218.28 16.06 0.52
and 137.53 144.15 6.62 1.05 and 238.85 247.25 8.40 1.15
and 199.15 205.00 5.85 3.58 and 260.40 264.06 3.66 1.17
and 222.92 237.35 14.43 0.56 VVGD-102 168.50 173.00 4.50 1.27
VVGD-103 28.60 91.10 62.50 3.81 RA and 186.00 196.00 10.00 1.21
including 50.25 63.10 12.85 14.01 VVGD-107 39.15 50.45 11.30 0.65
and 107.80 120.90 13.10 1.18 and 58.45 66.75 8.30 1.49
and 179.80 188.15 8.35 1.15 and 71.60 85.45 13.85 0.66
VVGD-104 43.81 48.20 4.39 1.38 and 125.00 149.10 24.10 1.11
and 58.10 64.40 6.30 0.91 and 188.20 194.90 6.70 3.69
and 79.50 95.90 16.40 0.50 and 229.90 258.20 28.30 0.88
and 125.20 143.35 18.15 1.17 including 245.50 255.20 9.70 1.40
VVGD-105 78.00 100.20 22.20 1.23 and 265.00 275.10 10.10 0.64
including 85.70 91.60 5.90 2.75
and 106.50 149.83 43.33 1.13 RA
including 110.20 117.90 7.70 2.08 South Block
and 206.90 212.55 5.65 0.62 Hole # From (m) To (m) Width (m) Au g/t
VVGD-106 88.00 94.50 6.50 0.69 VVGD-099 NSR
and 105.75 109.50 3.75 0.56
and 114.95 129.00 14.05 1.13
and 136.00 179.75 43.75 0.65
and 186.25 201.37 15.12 0.92
and 209.40 221.00 11.60 0.58
and 227.85 241.65 13.80 5.54

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 85% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 80% 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.

To view the Figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/bsx725_Figs.pdf

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.

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