Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

December 05, 2011 12:50 ET

Belvedere Resources Ltd: Gold Results From Resource Delineation Drilling at Kopsa, Finland

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2011) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") is pleased to announce new results from a 4,300m programme of resource delineation drilling at its 100% owned Kopsa gold project. 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 hanging wall zone identified in BelKopDD 82 - 12.74 m @ 2.79 g/t Au, 0.08% Cu
  • Infill results in the high-grade part of the main zone continue to deliver good results e.g.
    • 20.3 m @ 4.61 g/t Au 0.36% Cu (BelKopDD 65)
    • 23.3 m @ 2.51 g/t Au 0.28% Cu (BelKopDD 72)
  • Further drilling extends the main zone resource downdip and along strike e.g.
    • 43.68 m @ 1.03 g/t Au, 0.09% Cu (BelKopDD 80)
    • 22.64 m @ 1.85 g/t Au, 0.10% Cu (BelKopDD 83)

David Pym (CEO) comments " This phase of drilling is now complete and should be of sufficient density to allow an NI 43-101 compliant resource to be calculated for the central part of the main zone at Kopsa. This in conjunction with the upcoming detailed metallurgical studies will form the basis for a scoping study to be completed in Q1 2012, on the feasibility of mining the Kopsa gold copper deposit …"

The recent drill programme consisted of 4,320 metres over 44 holes, and is 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.

Hole From To Interval Au g/t Cu ppm Au gm
BELKOPDD064 15.15 50.91 35.76 1.28 1741 45.8
BELKOPDD064 58.00 67.37 9.37 1.67 1595 15.6
BELKOPDD064 93.33 97.89 4.56 1.34 908 6.1
BELKOPDD065 32.04 52.36 20.32 4.61 3618 93.6
BELKOPDD065 62.77 66.34 3.57 2.25 2294 8.0
BELKOPDD065 87.04 91.99 4.95 0.85 2014 4.2
BELKOPDD066 57.43 62.33 4.90 0.75 2168 3.7
BELKOPDD067 94.86 96.88 2.02 3.16 2865 6.4
BELKOPDD067 107.52 113.36 5.84 1.08 1031 6.3
BELKOPDD068 24.67 34.17 9.50 1.22 2267 11.6
BELKOPDD068 96.02 100.23 4.21 1.06 2696 4.5
BELKOPDD069 48.97 58.32 9.35 1.47 2794 13.8
BELKOPDD069 88.05 95.73 7.68 0.90 855 6.9
BELKOPDD069 128.31 136.78 8.47 0.73 1688 6.2
BELKOPDD071 4.86 25.83 20.97 0.91 1931 19.0
BELKOPDD072 24.40 47.71 23.31 2.51 2837 58.5
BELKOPDD073 39.71 56.87 17.16 1.05 1674 18.0
BELKOPDD074 8.77 27.36 18.59 1.31 1060 24.3
BELKOPDD074 40.07 60.05 19.98 1.94 335 38.8
BELKOPDD075 8.95 13.50 4.55 0.85 474 3.9
BELKOPDD075 23.25 41.30 18.05 1.00 1013 18.0
BELKOPDD075 50.44 53.85 3.41 2.65 976 9.0
BELKOPDD076 13.80 17.19 3.39 1.08 2306 3.7
BELKOPDD078 17.74 19.92 2.18 2.87 723 6.3
BELKOPDD078 47.39 69.46 22.07 1.18 798 26.1
BELKOPDD079 38.13 81.00 42.87 0.79 1719 33.7
BELKOPDD079 86.12 134.19 48.07 0.52 1551 24.9
BELKOPDD080 31.23 35.60 4.37 2.49 744 10.9
BELKOPDD080 49.22 92.90 43.68 1.03 890 44.9
BELKOPDD081 24.76 30.71 5.95 1.15 987 6.9
BELKOPDD081 44.15 91.46 47.31 0.73 1255 34.5
BELKOPDD082 8.62 21.36 12.74 2.79 801 35.6
BELKOPDD082 86.62 108.30 21.68 1.23 2520 26.7
BELKOPDD083 56.90 79.54 22.64 1.85 964 41.9
BELKOPDD084 58.68 81.95 23.27 0.97 1458 22.5
BELKOPDD084 84.82 96.92 12.10 0.59 1387 7.2
BELKOPDD085 18.39 34.41 16.02 1.32 970 21.2
BELKOPDD086 31.16 34.38 3.22 1.30 1656 4.2
BELKOPDD086 59.83 65.30 5.47 0.82 1210 4.5

Table 1: Intersections using a 0.5 g/t Au cut-off with a grade thickness greater than 3 gram meters. No top cut is applied. Maximum grade is 22.0g/t Au over 1.08m, one of five individual samples over 15 g/t Au (0.5 oz/t). Intersections are estimated to be 85 - 100% of true width.

The drilling was undertaken by Drillcon SMOY of Finland, providing 42 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 22.0 g/t gold over 1.08 metres. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an AAS finish at the internationally accredited laboratories of ALS Chemex 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 of each batch. In addition, ALS Chemex 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. The locations of the drillholes are provided in the table below.

hole_ID x y z Depth azimuth dip
BELKOPDD064 2561340 7075177 112.489 125.5 200 50
BELKOPDD065 2561375 7075161 112.398 149.05 200 50
BELKOPDD066 2561514 7075223 107.634 104.75 203 50
BELKOPDD067 2561293 7075044 113.739 143.69 20 50
BELKOPDD068 2561260 7075062 113.204 155.39 20 50
BELKOPDD069 2561230 7075078 113.2 149.4 20 50
BELKOPDD070 2561147 7075083 109.29 134.55 20 50
BELKOPDD071 2561389 7075186 112.95 107.65 20 45
BELKOPDD072 2561407 7075143 112.55 86.7 20 50
BELKOPDD073 2561443 7075112 112.968 102 20 50
BELKOPDD074 2561522 7075154 110.296 65.95 23 60
BELKOPDD075 2561556 7075141 109.195 68.3 21 50
BELKOPDD076 2561614 7075129 107.871 70.8 22 50
BELKOPDD077 2561671 7075102 107.347 76.73 23 50
BELKOPDD078 2561551 7075106 110.59 86.05 25 50
BELKOPDD079 2561574 7075057 110.612 143.47 21 50
BELKOPDD080 2561521 7075068 113.323 117.02 20 50
BELKOPDD081 2561435 7075072 113.605 128.96 24 50
BELKOPDD082 2561422 7075029 114.111 159.05 24 50
BELKOPDD083 2561368 7075064 113.652 119.9 20 50
BELKOPDD084 2561339 7075056 113.173 131.6 21 50
BELKOPDD085 2561394 7075240 111.078 74.7 20 50
BELKOPDD086 2561411 7075228 111.703 81 20 50

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.

The technical aspects of this statement have been prepared under the supervision of Pekka Lovén (MSc), who is acting as an Independent Qualified Person in compliance with National Instrument 43-101 with respect to this release. The data supporting this news release has been provided in a Surpac database and has been verified against the original laboratory assay certificates. The Qualified Person has not undertaken any independent sampling of the drill core.

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
    +1-604-844-2838

    BELVEDERE RESOURCES LTD.
    Toby Strauss
    COO
    +1-604-844-2838

    BELVEDERE RESOURCES LTD.
    Suite #404, Vancouver World Trade Centre
    999 Canada Place
    Vancouver. BC.
    V6C 3E2, Canada
    www.belvedere-resources.com