Belvedere Commences Follow-Up Drilling on Their Antikanperä Gold Discovery in Finland
January 09 2013 - 10:57AM
Marketwired Canada
Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") is pleased to announce
that it has commenced a 2,000 metre diamond drill program on their 10 km(2)
Antikanpera gold property to begin follow up on the Pontio gold discovery.
The Pontio prospect is a blind discovery made in 2012. It sub-crops under
shallow peat cover and shows significant size potential, with a true thickness
estimated to be approximately 60 metres. Five drillholes have so far defined
mineralisation over a strike length of 250 metres. The deepest intersection to
date is 50 metres vertically below surface. Mineralisation is associated with
chalcopyrite and hosted by a steep east dipping dioritic dyke/sill in gneissic
metasediments. Outcrop is minimal but grab and channel sampling of available
outcrops has outlined a broad mineralised zone over a strike length of more than
two kilometres. The outcrop samples indicate the existence of a number of
parallel mineralised intrusions, some of which will be investigated in the
current drill campaign. Results from the five Pontio drillholes announced on
September 19th 2012 are re-presented below.
David Pym CEO states "The Pontio gold discovery is the most promising target
intersected to date on the M2 geophysical trend on the Antikanpera gold
property. Outcrop sampling and drilling have begun to outline what appears to be
a significant new mineralised system only 35 km to the north of our Hitura
nickel mine and mill facilities".
Gram
HOLE_ID From(m) To(m) Interval(m) Au g/t Cu ppm Metres
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BELANP011 24.99 45.84 20.85 1.13 499 23.6
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BELANP012 8.95 81.05 72.1 0.88 621 63.1
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Including 59.24 78.02 18.78 1.34 583 25.1
----------------------------------------------------------------------------
BELANP013 19.14 81.18 62.04 1.08 614 67.1
----------------------------------------------------------------------------
Including 53.22 68.04 14.82 2.29 1220 33.9
----------------------------------------------------------------------------
BELANP014 25.3 32.2 6.9 1.01 704 7.0
----------------------------------------------------------------------------
BELANP014 38.26 43.15 4.89 0.95 280 4.6
----------------------------------------------------------------------------
BELANP014 54.12 78.18 24.06 1.44 498 34.6
----------------------------------------------------------------------------
BELANP015 5.5 12.61 7.11 0.63 367 4.5
----------------------------------------------------------------------------
BELANP015 18.87 21.84 2.97 1.85 1043 5.5
----------------------------------------------------------------------------
BELANP015 27.01 50.7 23.69 1.44 668 34.0
----------------------------------------------------------------------------
Including 27.01 36.07 9.06 2.32 729 21
----------------------------------------------------------------------------
BELANP015 73.29 77.14 3.85 0.83 482 3.2
----------------------------------------------------------------------------
Table 1: Intersections using a 0.5 g/t Au cut-off. No top cut is applied.
Maximum grade is 15.35 g/t Au over 0.35 m, one of four individual samples over 5
g/t Au. Intersections are estimated to be 70-90% of true width.
Hole_ID x y z azimuth dip length
----------------------------------------------------------------------------
BELANP011 2548106 7121756 85.055 269.1 45 85.85
----------------------------------------------------------------------------
BELANP012 2548141 7121755 85.468 271 45 119.45
----------------------------------------------------------------------------
BELANP013 2548143 7121807 86.859 271 45 90.65
----------------------------------------------------------------------------
BELANP014 2548140 7121709 85.658 271 45 83.25
----------------------------------------------------------------------------
BELANP015 2548131 7121853 85.275 269 45 89.15
----------------------------------------------------------------------------
Table 2: Details of drillhole locations
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 70-90% of true width. No top cut is applied. Maximum grade is
15.35 g/t Au over 0.35 m, one of four individual samples over 5 g/t Au. 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.
About Belvedere:
Belvedere Resources Limited is a mining company incorporated in British Columbia
with a primary focus on nickel, gold, cobalt and copper in Finland. The Company
currently produces 2200t of nickel in concentrate/year from the Hitura nickel
mine in Central Finland. The Company has a number of advanced gold projects in
close proximity to the Hitura mine.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements, which
involve known and unknown risks and uncertainties. Without limitation,
statements regarding future plans and objectives of the Company (including
statements relating to future drilling and interpreted continuity of the new
mineralised zones) 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.
Qualified Person
The technical aspects of this statement have been prepared by Dr Toby Strauss
(CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a
Qualified Person in compliance with National Instrument 43-101 with respect to
this release. Dr Strauss has verified the data supporting this press release.
Verification included checking the data to the original Laboratory certificates,
examining photographs of the core, reviewing sampling procedures and reviewing
the geological interpretation.
FOR FURTHER INFORMATION PLEASE CONTACT:
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
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