Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

August 30, 2010 12:27 ET

Belvedere Intersects Further High-Grade Gold Zones at Kopsa in Finland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2010) - Belvedere Resources Ltd. BEL: (TSX VENTURE:BEL) ("Belvedere") is pleased to announce new results from resource delineation drilling at its 100% owned Kopsa gold project. The results include some of the highest grade intervals assayed at Kopsa to date, with individual assays up to 48.4 g/t (1.56 oz/t) gold amongst large intervals of lower grade gold copper mineralisation. The Kopsa gold, copper project is being evaluated as an open pit satellite mining operation to be processed at the Hitura Nickel mine and mill, which lies only 15 km away.

Highlights

  • New Gold zone identified in BelKopDD 48 - 11.20 m @ 6.85 g/t Au, 0.11% Cu
  • Infill results in the high-grade part of the main zone continue to deliver good results e.g.
    •  30.86 m @ 3.52 g/t Au 0.13% Cu (BelKopDD 60)
    • 17.4 m @ 1.97 g/t Au 0.32% Cu (BelKopDD 62)
  • Further drilling extends the main zone resource updip and along strike e.g.
    • 31.55 m @ 1.37 g/t Au, 0.12% Cu (BelKopDD 45)

David Pym (CEO) comments "Kopsa continues to deliver for us. This recent drilling builds on previously announced results through; extending the main zone mineralisation, outlining a continuous high grade core to the main zone and making some new discoveries outside the main zone. We are very lucky to have a number of outcropping gold, copper targets such as Kopsa in close proximity to the Hitura nickel mine. Management feels the current results bring us another step closer to our stated objective of becoming a 30-35,000 oz/ annum gold producer in tandem with our nickel operations…"

The recent drill programme consisted of 3,195 metres over 31 holes, and was focused on, shallow near surface mineralisation in the main zone. Mineralisation in the Main Zone occurs largely between surface and 100m vertical, has a true thickness between 20 and 70m and dips shallowly to the south. It has now been delineated over a strike length of 600 metres, and remains open in all directions. Further mineralised zones have been intersected to the north and south of the Main Zone, and remain targets for future follow-up drilling.

Historical and Current Results (In Bold) from the High Grade Core with a 0.9 g/t cut-off grade

Hole From (m) To (m) Interval (m) Au g/t Cu % Gram M
BELKOPDD001 31.10 69.90 38.80 2.33 0.13 90
BELKOPDD002 67.60 79.60 12.00 3.31 0.32 40
BELKOPDD043 12.90 51.21 38.31 5.17 0.33 198
BELKOPDD043 58.85 100.53 41.68 2.14 0.23 89
BELKOPDD060 43.36 74.22 30.86 3.52 0.13 109
BELKOPDD062 32.10 49.50 17.40 1.97 0.32 34
BELKOPDD062 60.70 67.90 7.20 1.42 0.12 10
K66 32.50 50.10 17.60 2.61 0.13 46
KDD001 19.60 69.80 50.20 2.51 0.29 126
KDD004 34.10 66.05 31.95 2.23 0.12 71
KDD004 113.1 140.7 27.60 2.74 0.25 76

The intersections in BelKopDD60 and 62 are both targeting the high grade core zone that was intersected in BelKopDD 43. The high-grade core of the Main Zone, has now been delineated over a strike length of 150 metres, and occurs from the bedrock surface. This near surface high grade material is likely to significantly upgrade the economics of the project. In addition, the intersection in BelKopDD 48 is interpreted as another potential high-grade chute.

Significant intercepts from the latest drill results with a 0.5 g/t Au cut off. The results from the first 11 holes can be found in the news release of 2nd May, 2010.

Hole From (m) To (m) Interval (m) Au g/t Cu % Gram M
BELKOPDD045 8.92 45.28 36.36 1.28 0.12 46
BELKOPDD046 37.52 44.60 7.08 1.92 0.07 14
BELKOPDD046 104.85 128.53 23.68 0.77 0.09 18
BELKOPDD047 33.77 54.07 20.30 0.67 0.10 14
BELKOPDD048 5.77 55.59 49.82 0.99 0.11 49
BELKOPDD048 71.68 82.88 11.20 6.85 0.11 77
BELKOPDD049 60.56 66.75 6.19 1.55 0.14 10
BELKOPDD049 82.20 111.01 28.81 1.03 0.16 30
BELKOPDD049 122.46 143.40 20.94 0.55 0.11 12
BELKOPDD050 7.40 11.39 3.99 2.81 0.12 11
BELKOPDD051 23.32 26.72 3.40 3.27 0.05 11
BELKOPDD052 33.50 46.90 13.40 0.90 0.26 12
BELKOPDD053 16.27 34.14 17.87 1.20 0.12 21
BELKOPDD054 53.93 66.39 12.46 0.78 0.28 10
BELKOPDD055 48.35 68.23 19.88 0.98 0.18 20
BELKOPDD055 80.66 94.43 13.77 0.73 0.20 10
BELKOPDD056 55.50 82.87 27.37 0.67 0.18 18
BELKOPDD057 104.48 129.06 24.58 1.02 0.09 25
BELKOPDD060 30.07 75.59 45.52 2.65 0.14 121
BELKOPDD061 29.84 59.61 29.77 0.78 0.24 23
BELKOPDD062 26.03 76.03 50.00 1.18 0.23 59
BELKOPDD062 83.86 100.08 16.22 0.69 0.13 11
BELKOPDD063 40.42 83.40 42.98 1.01 0.16 44

The drilling was undertaken by Kati Oy of Finland, providing 37.5 mm diameter core. Samples are comprised of half diamond core. Intersections are estimated to be 85-100 % of true width. No top cuts are applied with the highest individual assay being 48.4 g/t gold over 0.44 metres. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an ICPAES finish at the Internationally accredited laboratories of Labtium Oy in Finland. The quality assurance-quality control (QAQC) program of Belvedere consists of the insertion of certified standards of known gold content every 20 samples, with blanks at the beginning and end of each batch. In addition, Labtium inserts a number of blanks and standards into the analytical process. Standards, blanks and duplicates make up approximately 15% of the samples assayed. The remaining half core is retained on site for verification and reference purposes.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks
and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to future resource and production targets) are forward looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this release.

Contact Information

  • Belvedere Resources Ltd.
    David Pym
    CEO
    (604) 844-2838
    or
    Belvedere Resources Ltd.
    Toby Strauss
    COO
    (604) 844-2838
    or
    Belvedere Resources Ltd.
    Suite #404, Vancouver World Trade Centre
    999 Canada Place, Vancouver, BC V6C 3E2, Canada
    www.belvedere-resources.com