Vancouver, B.C. - Bear Creek Mining (TSX Venture: BCM/ BVL: BCM) (“Bear Creek” or the “Company”) is pleased to announce results for the five (5) diamond drill holes (1105.3 meters) from its Phase I drill program on the Sumi project. Highlights of the results are:
- Drill hole SU-5 returns 17 meters averaging 3.6 g/t Au and 3.2 g/t Ag from 50.65 to 68 meters depth.
- Drill hole SU-2 returns 50 meters averaging 0.98 g/t Au and 5.1 g/t Ag from 124 to 174 meters depth.
- Drill hole SU-1 returns 10 meters averaging 4.4 g/t Au from 69.9 to 80 meters depth.
- Three cyanide extraction bottle roll tests on drill core ground to 85% passing minus 200 mesh averaged 86.6% gold recovery; two tests on higher sulfide content samples yielded less than 40% recoveries.
Andrew Swarthout, CEO, stated “We are encouraged by these preliminary results from the Phase I program designed to verify and extend near-surface gold mineralization prior to the beginning of the 2012/13 rainy season. Based upon the favorable drilling and bottle-roll extraction tests, Phase II drilling will focus on extending mineralization under the extensive, untested shallow post-mineral cover.”
The Sumi project, 100% Bear Creek owned and not subject to material holding costs, is located in the gold-silver Tertiary-age belt in central Peru and exhibits alteration and mineralization typical of the upper part of an epithermal precious metal deposit. Assay results for 111 surface rock chip samples have returned precious metal values including 15.65 g/t gold and 156 g/t silver in a vein breccia structure over widths of 0.3 to 2.0 meters and 12.1 g/t gold and 102 g/t silver over 2 meters widths in silicified volcano-sedimentary rocks (see news release dated August 16, 2012). Fifty (50) of the 111 assay samples contained anomalous gold > 100 ppb. The prospect was partially tested in 2003 and 2006 by third parties with limited drilling reportedly intersecting multi-gram gold values over intervals ranging from 2 to over 47 meters, beginning at the surface. Furthermore, favorable sedimentary formations have been identified indicating potential for underlying gold mineralization at shallow depths.
Phase I drilling tested a 400 meter by 150 meter area and Phase II drilling, expected to commence in the third quarter of 2013, will test an additional 1000 meters by 500 meters favorable area of the prospect to establish continuity of mineralization and to test additional blind vein and breccia targets beneath shallow, post-mineral cover.
Table of Significant Drill Intervals:
| Drill Hole # |
Azimuth (degrees) |
Inclination (degrees) |
Total Depth (m) |
From (m) |
To (m) |
Interval (m) DTH |
Gold (grams per tonne) |
Silver (grams per tonne) |
|---|---|---|---|---|---|---|---|---|
| SU-1 | 230 | -78 | 250 | 69.9 | 80 | 10.1 | 4.40 | — |
| includes | 69.9 | 72.3 | 2.4 | 16.50 | — | |||
|
|
115.5 | 136.4 | 20.9 | 0.29 | 8.2 | |||
| SU-2 | 60 | -70 | 252.6 | 13.3 | 18 | 4.7 | 2.12 | 8.0 |
|
|
28 | 41.4 | 13.4 | 0.47 | 6.7 | |||
| 124 | 174 | 50 | 0.98 | 5.1 | ||||
| includes | 164 | 173 | 9 | 1.35 | 10.2 | |||
| 174 | 199.5 | 25.5 | 0.12 | 63.0 | ||||
| SU-3 | 55 | -50 | 200 | 44 | 66 | 22 | 0.60 | 9.3 |
| SU-4 | 105 | -65 | 300 | No significant results | ||||
| SU-5 | 250 | -55 | 102.7 | 18 | 23.4 | 5.4 | 5.72 | 34.1 |
| includes | 20 | 22 | 2 | 13.80 | 71.8 | |||
| 50.65 | 68 | 17.35 | 3.57 | 3.2 | ||||
| includes | 56 | 62.10 | 6.1 | 7.72 | 4.7 | |||
To view the drill map and assays go to: http://www.bearcreekmining.com/s/sumigold.asp
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Andrew Swarthout - CEO, or Lisa May - Investor Relations
Phone: 604-685-6269 Direct: 604-628-1111
E-mail: info@bearcreekmining.com
For further information, please visit the Company’s website (www.bearcreekmining.com)
Regulatory footnotes:
All of Bear Creek’s exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of Marc Leduc, P. Eng., President and COO, Christian Rios, P.Geo. Exploration Manager and the CEO, Andrew Swarthout, P.Geo., who serve as the Qualified Persons under the definitions of NI 43-101. All diamond drilling has been performed using HQ diameter core with recoveries averaging greater than 95%. Core is logged and split on site under the supervision of Bear Creek geologists. Sampling is done on two-meter intervals and samples are transported by Company staff to ALS Chemex, Laboratories in Lima, Peru. ALS Chemex is an ISO 9001:2000-registered laboratory and is preparing for ISO 17025 certification. Silver, lead, and zinc assays utilize a multi-acid digestion with atomic absorption (“ore-grade assay method”). The QC/QA program includes the insertion every 20th sample of known standards prepared by SGS Laboratories, Lima. A section in Bear Creek’s website is dedicated to sampling, assay and quality control procedures.
Certain disclosure in this release, including management’s assessment of Bear Creek’s plans and projects, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Bear Creek’s operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. These risks, uncertainties and other factors are disclosed in Bear Creek’s continuous disclosure filings with Canadian securities regulators including its most recent annual information form, available on www.sedar.com. Bear Creek expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise