HIGH GRADE DRILL RESULTS FROM THE KUPOL PROPERTY,RUSSIA
Wed 2 Jul 2003
Bema Gold Corporation has released the first drill results from the Kupol
property in Chukotka, Russia. A total of 43 holes, totalling 5,630 metres,
have been drilled on the property to date. Forty-two of the drill holes
have intersected the mineralized epithermal vein system, which now extends
over two kilometres of strike length and to a depth of at least 250 metres.
The system remains open along strike to the north and south, and to depth.
Assay results have been received for the first 16 holes which have been
drilled along 1,600 metres of strike length and to varying depths with the
deepest holes being approximately 250 metres. Some of the highlights are:
hole four, which intersected 29.90 metres averaging 27.97 grams per tonne
gold and 220.9 grams per tonne silver; hole seven, which intersected 15.50
metres averaging 43.76 grams per tonne gold and 441.18 grams per tonne
silver; and hole nine, which intersected 18.30 metres averaging 65.05 grams
per tonne gold and 1,021.27 grams per tonne silver.
Hole Length Au Ag
(m) (g/t) (g/t)
KP03-01 9.50 23.45 184.24
Includes 3.85 50.98 405.92
KP03-02 7.70 27.04 580.54
Includes 4.60 39.92 912.26
KP03-03 15.10 14.73 180.44
Includes 5.15 27.05 343.44
KP03-04 29.90 27.97 220.90
Includes 13.10 56.99 445.24
KP03-05 12.45 20.85 318.99
Includes 6.30 35.05 595.69
KP03-06 12.85 36.43 370.67
Includes 3.00 87.69 709.53
KP03-07 15.50 43.76 441.18
Includes 6.10 61.17 496.80
KP03-08 4.60 14.07 111.37
KP03-09 18.30 65.05 1,021.27
Includes 4.00 143.75 1,984.13
KP03-10 1.00 5.50 29.40
KP03-11 23.80 27.04 426.49
Includes 6.80 50.87 1,063.14
KP03-12 6.80 25.72 344.71
KP03-13 1.85 8.51 62.09
KP03-14 2.80 3.51 37.98
KP03-15 11.15 36.67 268.11
KP03-16 8.00 18.08 65.36
These results have confirmed the high-grade trenching and drilling results
from earlier Russian exploration, and have significantly increased the
strike length and depth of the mineralized vein system beyond the area of
the previous drilling. The previous exploration drilling within the
mineralized vein system consisted of 20 diamond drill holes totalling
approximately 2,500 metres along 400 metres of strike length to an average
depth of 100 metres. Based on this previous drilling, a Russian C-1/C-2
reserve was calculated at 780,000 tonnes containing 835,000 ounces of gold
and 9.35 million ounces of silver with an average grade of 33.3 grams per
tonne gold and 372.8 grams per tonne silver.
Drilling is ongoing at Kupol with two Canadian and two Russian drill rigs.
A total of 26,000 metres of drilling is budgeted in the 2003 exploration
program and more assay results will be released as available.
The Kupol project is a joint venture between Bema and the government of
Chukotka. Bema has the option to purchase a 75-per-cent interest in the
property from the government.
The following table shows the location of the drill holes:
Hole ID Elevation Section Azimuth Dip
KP03-001 645.30 1825N 270 -55
KP03-002 654.35 2600N 270 -55
KP03-003 648.87 1900N 270 -53
KP03-004 655.21 2000N 270 -59
KP03-005 648.87 1890N 270 -67
KP03-006 652.37 2000N 270 -55
KP03-007 611.28 1685N 270 -53
KP03-008 652.37 2000N 270 -69
KP03-009 609.20 1675N 270 -55
KP03-010 559.04 1275N 270 -55
KP03-011 609.20 1675N 270 -69
KP03-012 631.78 2900N 270 -55
KP03-013 574.01 1300N 270 -55
KP03-014 653.11 2275N 267 -55
KP03-015 623.03 1735N 270 -55
KP03-016 578.00 1450N 280 -55
Bema has installed an on site preparation and fire assay laboratory due to
the project's remote location. The lab is managed by an experienced Russian
fire assayer and overseen by an independent consultant. Bema has also
retained Smee and Associates Consulting Ltd. to ensure the lab is operated
to the level of North American standards and that a comprehensive quality
control program is run by the lab. The Kupol lab is operated as an
independent lab and no Bema personnel are permitted unsupervised access.
Drill samples have been prepped on site under the supervision of the
independent North American consultant and reviewed on site by Barry Smee
who visited the site during lab startup. Samples are crushed in two passes
within a jaw crusher to 80 per cent passing two millimetres. Approximately
1,000 grams are split off the coarse crush and pulverized to 95 per cent
passing 150 mesh. A 200-gram pulverized sample is split and packaged for
the analytical lab.
Due to initial problems with the fire assay furnace on site, samples from
the first 16 drill holes have been assayed at the Julietta Mine site
laboratory. In addition duplicate pulp samples from the first five holes
are being asssayed in Vancouver by Assayers Labs. All results released in
this news release have been validated by the quality control program (QC)
which has been designed in concert with Smee and Associates to meet or
exceed the requirements of NI 43-101. This QC program includes the use of
certified standard reference samples, coarse field blank material and
duplicate sampling. Tom Garagan, vice-president of exploration, is the
qualified person for this exploration project. |
