Belo Sun Mining

TSX : BSX


Belo Sun Mining

January 28, 2013 16:30 ET

Belo Sun Intersects New High Grade Zone at Grota Seca and Expands Grande Deposit

TORONTO, ONTARIO--(Marketwire - Jan. 28, 2013) - Belo Sun Mining Corp. (TSX:BSX) reports assays for 86 additional drill holes (corresponding to 24,015 meters) at its Volta Grande Project as part of its mineral resources expansion and upgrade drilling program.

The results being released today are being incorporated into the company's database and will be used in the new mineral resource estimate update expected to be completed in early Q2 this year.

Included in this release are the assay results from 47 additional drill holes from the Grota Seca deposit, 28 from the Ouro Verde deposit and 11 from the South block area. The complete results and selected cross sections are presented below. Highlights from the holes contained in this release include:

  • Hole VVGD-529 (Grota Seca Cross Section 1825W) intersected 12.07 meters grading 11.08 g/t Au (from 59.40 meters) including 4.85 meters grading 26.78 g/t Au (from 63.40 meters). This intercept represents a new high grade mineralized zone which is located parallel to the main "Central" zone.

  • Hole VVGD-567 (Grota Seca Cross Section 2350W) intersected 13.34 meters grading 4.60 g/t Au (from 119.56 meters).

  • Significant down dip intercepts at the Ouro Verde deposit such as in hole VVGD-628 at section 775 NW with 9.75 meters grading 2.80 g/t Au (from 338.95 meters) and 6.30 meters grading 4.46 g/t Au (from 379.00 meters).

  • At the South Block, Grande Deposit the highlight is hole VVGD-633 with 9.02 meters grading 5.68 g/t Au (from 168.03 meters) and 4.52 meters grading 15.47 g/t Au (from 201.18 meters).

Helio Diniz, Belo Sun's Vice President of Exploration, stated, "The recent drilling results at Volta Grande with the shallow high grade intercepts continue to demonstrate the potential for further expansion of the mineral resources and combined with the ongoing regional program to the South East of Volta Grande and at Belo Sun's Patrocinio property in the Tapajos indicate Belo Sun has the potential to expand on the success its exploration team has enjoyed in the past three years."

At present Volta Grande has 4.1 million ounces of gold in the Measured and Indicated category grading 1.73 g/t and 2.8 million ounces of gold grading 1.96 g/t in the Inferred category (see press release dated December 18, 2012).

Ian Pritchard, Chief Operating Officer of Belo Sun, said "The expansion of the Grande deposit, which was estimated to contain 123,900 ounces at a grade of 4.58 g/t in the inferred category (see press release dated June 11th, 2012), has led us to study it as a potential source of high grade feed in the early years of production at Volta Grande and metallurgical tests are currently ongoing."

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.

BSX NR - JANUARY 2013
Grota Seca Deposit
Hole # From (m) To (m) Width (m) Au g/t
VVGD-521 0.00 6.25 6.25 1.44
and 14.55 21.00 6.45 3.53
and 139.21 142.00 2.79 5.14
and 180.70 192.18 11.48 1.15
VVGD-522 0.00 5.27 5.27 0.96
and 14.20 18.05 3.85 1.18
and 38.00 40.55 2.55 3.64
and 92.00 102.00 10.00 0.53
and 147.00 153.00 6.00 0.86
and 174.75 185.00 10.25 1.90
and 215.92 222.00 6.08 1.17
and 283.00 287.00 4.00 0.51
and 340.07 342.77 2.70 3.93
VVGD-525 218.70 224.00 5.30 0.66
and 234.80 243.00 8.20 0.67
and 285.00 300.00 15.00 0.63
and 317.50 326.00 8.50 0.62
and 333.00 338.00 5.00 1.05
VVGD-524 110.00 117.00 7.00 0.87
and 183.30 187.30 4.00 6.13
VVGD-528 108.80 111.00 2.20 6.57
and 129.00 137.15 8.15 1.87
VVGD-529 44.00 49.95 5.95 0.60
and 59.40 71.47 12.07 11.08
and 85.70 90.45 4.75 12.09
and 94.85 103.10 8.25 1.02
and 133.75 138.40 4.65 2.68
and 145.00 149.70 4.70 0.60
and 161.80 164.60 2.80 3.25
VVGD-536 135.30 142.05 6.75 2.22
and 282.55 285.25 2.70 6.69
VVGD-537 0.00 6.95 6.95 0.96
and 36.80 44.60 7.80 0.84
and 90.74 101.20 10.46 0.59
and 130.00 133.00 3.00 0.66
and 142.00 145.00 3.00 0.93
VVGD-544 134.20 146.42 12.22 0.97
and 167.25 171.60 4.35 6.39
and 288.25 294.33 6.08 0.71
VVGD-546 39.00 44.40 5.40 0.89
and 51.79 61.10 9.31 0.58
and 161.00 169.00 8.00 1.20
and 225.90 232.70 6.80 1.50
VVGD-547 0.00 4.65 4.65 0.56
and 100.00 103.00 3.00 1.40
and 114.20 120.00 5.80 0.53
and 164.00 166.00 2.00 3.11
and 200.80 205.00 4.20 0.96
and 221.00 225.00 4.00 0.92
VVGD-548 NSR
VVGD-552 108.00 113.30 5.30 3.33
VVGD-555 134.55 137.64 3.09 0.63
VVGD-557 150.18 153.25 3.07 4.24
and 185.10 191.70 6.60 0.97
and 215.80 221.55 5.75 0.60
and 231.00 237.17 6.17 0.76
VVGD-560 23.35 36.45 13.10 0.67
and 63.00 67.40 4.40 1.35
and 85.00 91.00 6.00 0.76
and 108.00 110.00 2.00 3.91
and 251.00 258.25 7.25 1.00
and 296.00 303.00 7.00 2.06
and 308.00 311.00 3.00 2.21
VVGD-564 69.00 73.20 4.20 2.61
and 77.00 88.00 11.00 0.85
VVGD-567 0.00 10.00 10.00 0.77
and 106.00 115.00 9.00 4.30
and 119.56 132.90 13.34 4.60
and 142.25 147.00 4.75 0.52
and 241.70 245.88 4.18 2.46
VVGD-570 100.20 104.62 4.42 1.47
VVGD-571 NSR
VVGD-572 2.00 11.00 9.00 0.52
and 165.00 175.70 10.70 2.86
and 192.00 200.78 8.78 7.75
VVGD-573 71.75 74.75 3.00 0.64
VVGD-574 174.60 179.30 4.70 1.08
and 184.00 188.00 4.00 1.07
VVGD-575 NSR
VVGD-578 0.00 15.00 15.00 0.62
and 92.70 97.20 4.50 2.28
VVGD-579 0.00 3.00 3.00 0.55
and 62.45 73.20 10.75 0.64
and 107.00 113.00 6.00 0.63
and 189.00 197.00 8.00 0.76
VVGD-580 188.55 192.20 3.65 1.05
and 254.00 261.00 7.00 0.61
and 280.00 288.65 8.65 1.45
VVGD-581 34.00 37.00 3.00 1.06
and 48.70 76.60 27.90 1.12
and 100.68 107.00 6.32 0.85
and 187.00 190.20 3.20 2.70
and 208.00 219.70 11.70 1.11
and 236.60 239.65 3.05 0.89
and 301.70 307.25 5.55 1.38
and 319.00 328.80 9.80 1.09
VVGD-582 86.50 92.00 5.50 0.66
and 141.23 148.00 6.77 1.02
VVGD-584 136.00 141.85 5.85 1.78
VVGD-587 NSR
VVGD-588 11.00 14.60 3.60 1.44
and 28.70 38.00 9.30 0.58
and 43.00 49.00 6.00 2.66
and 83.60 88.10 4.50 1.85
and 134.00 140.70 6.70 0.78
and 156.20 162.32 6.12 1.31
and 195.50 203.40 7.90 1.29
and 256.00 262.20 6.20 0.83
and 310.65 320.00 9.35 2.98
and 324.30 333.30 9.00 0.98
VVGD-589 132.00 137.94 5.94 0.72
and 215.95 220.00 4.05 1.04
and 296.00 302.60 6.60 0.71
VVGD-593 0.00 3.45 3.45 1.29
and 9.75 13.10 3.35 0.52
VVGD-594 0.00 3.00 3.00 0.73
VVGD-596 NSR
VVGD-597 27.05 30.80 3.75 0.88
and 56.00 64.25 8.25 1.02
and 85.90 89.80 3.90 0.68
VVGD-600 172.27 176.07 3.80 1.16
and 198.70 208.17 9.47 0.84
and 247.60 260.00 12.40 2.03
and 273.00 281.00 8.00 0.74
and 298.75 305.40 6.65 0.77
VVGD-601 198.00 206.00 8.00 1.10
VVGD-605 267.45 272.00 4.55 0.66
VVGD-606 77.67 86.30 8.63 0.59
VVGD-608 6.44 9.92 3.48 0.58
VVGD-611 NSR
VVGD-612 NSR
VVGD-617 NSR
VVGD-621 12.00 19.00 7.00 0.91
and 35.00 43.09 8.09 0.72
and 54.60 61.00 6.40 4.13
and 154.00 162.00 8.00 0.84
and 200.00 209.00 9.00 0.70
and 218.00 250.00 32.00 1.69
and 255.00 258.20 3.20 1.36
and 264.75 275.00 10.25 2.29
and 300.60 306.00 5.40 4.10
VVGD-625 NSR
BSX NR - JANUARY 2013
South Block Target
Hole # From (m) To (m) Width (m) Au g/t
VVGD-591 5.00 9.00 4.00 0.95
VVGD-592 NSR
VVGD-598 39.25 42.00 2.75 5.79
VVGD-604 103.40 106.48 3.08 0.61
VVGD-609 NSR
VVGD-613 NSR
VVGD-622 NSR
VVGD-624 NSR
VVGD-627 214.97 219.12 4.15 2.34
VVGD-630 73.30 75.30 2.00 12.85
VVGD-633 64.08 67.40 3.32 0.60
and 168.03 177.05 9.02 5.68
and 181.65 184.00 2.35 17.40
and 201.18 205.70 4.52 15.47
and 216.00 220.00 4.00 0.80
BSX NR - JANUARY 2013
Ouro Verde Deposit
Hole # From (m) To (m) Width (m) Au g/t
VVGD-463 43.50 47.05 3.55 0.57
and 152.00 176.00 24.00 1.43
and 194.00 200.00 6.00 0.53
and 213.00 219.00 6.00 0.65
and 228.00 232.00 4.00 0.53
and 249.00 267.00 18.00 1.75
and 272.00 283.00 11.00 1.22
and 288.20 304.00 15.80 1.56
and 313.00 320.00 7.00 0.61
and 430.00 435.00 5.00 0.60
VVGD-541 76.90 82.00 5.10 0.55
and 119.40 122.15 2.75 4.08
and 131.20 143.00 11.80 1.40
and 190.00 193.00 3.00 1.02
VVGD-562 189.00 192.00 3.00 0.85
and 203.00 217.00 14.00 0.68
VVGD-568 18.00 21.40 3.40 0.83
and 46.50 51.00 4.50 1.48
and 55.00 61.50 6.50 0.82
and 76.50 78.40 1.90 3.47
and 178.00 182.60 4.60 0.62
and 204.00 213.09 9.09 1.15
and 222.70 246.03 23.33 0.94
including 237.00 242.00 5.00 2.41
and 252.00 261.00 9.00 0.65
and 301.50 305.30 3.80 3.65
VVGD-576 377.00 380.00 3.00 0.51
and 432.80 444.00 11.20 1.26
and 460.65 467.00 6.35 1.16
and 504.15 515.00 10.85 0.91
VVGD-583 0.00 16.35 16.35 1.47
and 52.05 64.22 12.17 0.96
and 120.60 131.30 10.70 2.26
VVGD-585 24.35 28.00 3.65 6.25
and 189.00 194.00 5.00 0.69
and 231.00 246.60 15.60 2.05
and 259.45 267.25 7.80 0.72
and 325.00 328.00 3.00 1.40
and 336.80 349.00 12.20 1.32
VVGD-586 66.32 73.20 6.88 0.54
and 155.00 159.00 4.00 1.47
and 171.00 174.00 3.00 2.17
and 203.00 210.40 7.40 0.75
and 222.00 228.00 6.00 1.37
and 237.00 252.00 15.00 0.98
and 294.00 297.40 3.40 1.49
and 308.00 312.00 4.00 0.56
and 326.00 336.00 10.00 1.86
VVGD-590 149.00 154.00 5.00 0.72
and 276.17 280.60 4.43 0.76
and 288.43 291.76 3.33 1.10
and 316.15 319.55 3.40 0.76
and 346.55 349.75 3.20 5.44
and 353.75 360.33 6.58 1.01
and 402.00 410.45 8.45 0.70
and 426.80 439.09 12.29 1.03
VVGD-595 61.38 65.40 4.02 3.36
and 163.64 173.25 9.61 1.49
and 177.55 186.00 8.45 1.16
and 195.50 198.60 3.10 2.43
and 252.70 259.00 6.30 0.72
and 266.30 269.00 2.70 5.52
VVGD-599 0.00 10.00 10.00 1.19
and 33.00 37.00 4.00 2.10
VVGD-602 NSR
VVGD-603 NSR
VVGD-607 NSR
VVGD-610 25.80 28.82 3.02 1.19
VVGD-614 NSR
VVGD-615 NSR
VVGD-616 40.00 44.25 4.25 0.68
VVGD-618 57.86 61.00 3.14 0.52
VVGD-619 NSR
VVGD-620 NSR
VVGD-623 79.00 82.00 3.00 0.84
and 258.00 262.00 4.00 5.13
and 309.50 314.00 4.50 1.23
and 325.00 330.10 5.10 2.77
and 337.00 347.00 10.00 1.40
and 351.67 358.70 7.03 1.99
and 493.75 505.85 12.10 1.02
and 518.34 523.00 4.66 0.76
and 540.40 545.00 4.60 1.28
and 574.15 576.85 2.70 12.92
VVGD-626 NSR
VVGD-628 241.70 245.80 4.10 0.84
and 251.00 253.60 2.60 3.52
and 319.00 326.00 7.00 0.86
and 330.00 335.00 5.00 0.89
and 338.95 348.70 9.75 2.80
and 352.62 358.50 5.88 0.81
and 365.00 374.60 9.60 1.57
and 379.00 385.30 6.30 4.46
and 398.00 401.00 3.00 1.17
and 464.00 472.00 8.00 1.21
and 476.25 497.00 20.75 0.52
and 519.50 534.00 14.50 1.36
VVGD-629 81.05 88.68 7.63 0.60
and 120.00 124.00 4.00 0.97
VVGD-631 NSR
VVGD-632 46.38 49.91 3.53 1.93
and 248.65 251.65 3.00 0.57
VVGD-634 228.00 232.00 4.00 1.96

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 Volta Grande 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 1,000 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 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/Bel_Sun-Figures.pdf.

Contact Information

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