Drilling continues to expand silver mineralization at Corani
Monday May 15, 1:26 pm ET
biz.yahoo.com
VANCOUVER, May 15 /CNW/ - Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results for twenty additional drill holes from the Corani project. This brings the total holes drilled following the first resource estimation on this world-class silver discovery to fifty-three (see news release 13 March 2006). Highlights of this release include:
- Corani Este: step-out drilling to the east continues to extend
mineralization intersecting 107 m (at) 159 g/mt Ag, including 40 m
(at) 367 g/mt Ag + 2.4%Pb + 2.7% Zn; mineralization remains strongly
open to both east and north
- Minas Corani: step-out drill holes north and west extend silver
mineralization; including 80 m (at) 96 g/mt Ag + 1.7% Pb drilled
400 meters north of the resource estimation limits at the edge of post
mineral cover
Andrew Swarthout, President and CEO, stated "The drill results from our newly created access at Corani Este are exceeding our expectations, delivering robust silver intercepts approximately 50 to 80 meters east of the resource block limits of the SRK resource estimation. The high-grade tenor of this mineralization will allow us to significantly increase silver ounces in the next resource estimation. Importantly, we are seeing steadily increasing silver grades, particularly in drill hole C-71A, from west to east on our widest drill cross-section, suggesting that a source for the mineralization lies east or north under unexplored post-mineral cover. In addition, results from C-74 at Minas Corani confirm that not only is the mineralization still open along strike; the 500 meter-wide area of thin post-mineral cover between drill holes C-74 and C-51 is highly prospective. Drilling will test this target in the coming weeks. As expected in an emerging discovery, we are learning more about the mineralization at each step in drilling, while acquiring information that we anticipate will lead us to the source or sources of the mineralization."
THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS:
CORANI ESTE
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Interval
Incli- Total (m)
Drill Azimuth nation Depth From To True
Hole No. (degrees) (degrees) (m) (m) (m) Width
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C-67A 70 -80 206 150 162 12
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C-68 70 -70 296 10 112 112
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C-68A 70 -50 203 14 122 108
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includes 90 104 14
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C-68B 250 -80 202 20 130 110
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includes 80 90 10
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C-69 240 -80 212 98 196 98
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includes 138 178 40
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C-69A 60 -70 197 104 148 44
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includes 108 116 8
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C-71 250 -80 248 70 208 138
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includes 118 166 48
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C-71A 70 -80 188 65 172 107
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includes 130 170 40
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C-72 70 -70 318 No significant intervals
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C-72A 70 -50 244 32 132 100
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includes 90 128 38
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C-72B 250 -80 191 No significant intervals
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C-75 250 -80 242 98 200 102
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includes 132 170 38
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C-76 70 -80 110 0 64 64
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Silver
(grams
Drill per Lead Zinc
Hole No. tonne) (%) (%) Comments
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C-67A 245.7 2.2 0.1 0-150m, post mineral tuff
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C-68 40.4 0.7 0.1
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C-68A 52.9 1.7 3.8
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includes 87.1 1.2 0.7
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C-68B 46.7 0.5 0.1
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includes 84.0 0.6 0.2
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C-69 84.0 0.8 0.7 0-72, post mineral tuff
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includes 115.1 1.1 1.1
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C-69A 62.2 0.6 0.2 0-104, post mineral tuff
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includes 161.7 0.2 -
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C-71 93.3 1.0 0.6 0-70, post mineral tuff
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includes 167.9 1.2 0.9
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C-71A 158.6 1.1 1.1 0-65, post mineral tuff
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includes 367.0 2.4 2.7
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C-72 No significant intervals 0-16, post mineral tuff
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C-72A 62.2 0.9 0.9 0-25, post mineral tuff
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includes 102.6 1.4 1.6
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C-72B No significant intervals 0-40, post mineral tuff
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C-75 90.2 1.3 0.6 0-82, post mineral tuff
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includes 130.6 1.6 1.0
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C-76 105.7 1.9 2.9
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MINAS CORANI ZONE
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Interval
Incli- Total (m)
Drill Azimuth nation Depth From To True
Hole No. (degrees) (degrees) (m) (m) (m) Width
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C-65B 250 -60 173 0 14 14
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and 92 106 14
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C-70 70 -50 203 26 128 102
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includes 54 76 22
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C-70A 70 -70 223 36 74 38
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C-74 70 -50 183 20 100 80
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includes 60 96 36
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Silver
(grams
Drill per Lead Zinc
Hole No. tonne) (%) (%)
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C-65B 56.0 0.4 0.2
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and 46.7 0.4 0.1
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C-70 59.1 1.2 0.1
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includes 90.2 2.9 0.2
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C-70A 56.0 1.2 0.1
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C-74 96.4 1.7 0.2
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includes 133.7 2.0 0.3
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CORANI MAIN
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Interval
Incli- Total (m)
Drill Azimuth nation Depth From To True
Hole No. (degrees) (degrees) (m) (m) (m) Width
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C-66A 70 -70 225 124 138 14
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and 214 216 2
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C-73 70 -50 216 50 56 6
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C-73A 70 -70 214 No significant intervals
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Silver
(grams
Drill per Lead Zinc
Hole No. tonne) (%) (%)
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C-66A 68.4 0.8 1.1
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and 217.7 2.0 2.0
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C-73 80.9 2.0 0.2
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C-73A No significant intervals
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(Please refer to Bear Creek's website at www.bearcreekmining.com for
drill hole locations, trench assay maps, previously reported drill intervals
and detailed assay results. To access the silver drill hole map directly
please refer to (http://www.bearcreekmining.com/i/pdf/2006-05-15_CDR.pdf)
Four drills continue on the project with two dedicated to expanding
mineralization at Corani Este and two expanding mineralization at Minas
Corani. Drilling at Corani Main has been deferred in order to concentrate
exploration efforts on the higher-grade Corani Este and Minas Corani targets.
During the month of May, one rig will begin to test the geophysical (IP)
anomaly extending approximately 1 km south from the anomalous surfaces
trenches at "La Curva" where Trench 24 identified 12 m (at) 72 g/t and,
recently, Trench 29 confirmed the drill target with 82 m (at) 34 g/t Ag,
including 26 m (at) 56 g/t Ag at the surface.
Corani Este- There are now 26 drill holes completed since the March '06
resource estimation. Three in-fill drill holes confirm the continuity of
mineralization within the inferred resource and will support the conversion of
inferred resources into measured categories in the next resource update
expected in July. Twenty-three step-out holes extend the mineralization by
approximately 200 meters along strike to the north-northwest and laterally to
the east from 50 to 80 meters. In addition, drill hole C-76 (64 m (at) 105.7
g/mt Ag+1.9% Pb+ 2.9% Zn from surface) expands the mineralization to the west
into the footwall another 45 meters. The area tested by this recent drilling
represents an increase of approximately 50% beyond the area of the inferred
resource calculation released on March 13, '06
(http://www.bearcreekmining.com/i/pdf/2006-03-13_NR.pdf). Mineralization
remains open to the north and east. Drilling is continuing to test these open
areas where it is necessary to drill through up to 60 to 130 meters of post-
mineral tuff to reach the underlying mineralized host.
Minas Corani- Drilling has focused on outcropping mineralization along
the western edge of the post-mineral tuff for a distance of 400 meters north
of the inferred resource block. Importantly, drill hole C-74, located at the
northernmost limit of drilling intersected 80 m (at) 96.4 g/mt Ag + 1.7% Pb.
Four-hundred and fifty meters to the northeast of C-74, on the opposite side
of this wedge of post- mineral cover, drill hole C-51B intersected 66 m (at)
99.5 g/mt Ag + 1.9% Pb + 0.5% Zn. Drilling is being initiated to test between
these holes where potential extensions to the mineralization underlie
generally less than 50 meters of post mineral cover. Drilling will also
continue north of C-51 and C-74 where mineralization remains open along
strike.
Corani Main- Drilling in the hanging wall of the main structure has
encountered mineralization in sporadic structures defining the western
boundary of mineralization. Drilling has been deferred in order to support the
exploration of the higher-grade and still open mineralization at Minas Corani.
Scoping Study- The first economic study of the Corani deposits has been
started, the elements of which will include access, preliminary site-specific
engineering studies, metallurgy, water, and permitting. These reports are
scheduled for completion and compilation into the scoping study by mid-year.
Metallurgical compositing has been completed for four samples derived from two
holes drilled specifically for this purpose with results of selective
flotation expected in June.
OTHER PROJECTS
Drill permit applications are in process on the Santa Ana silver prospect
and drilling is expected to start in late June/ early July.
Drilling began on May 12 on the Company's Condor gold project located
near Nazca (see news release 19 April '06). Five-hundred meters of diamond
core drilling is planned to test the primary target where sampling to date
includes a total of 469 outcrop and trench rock-chip samples that average
700ppb gold with 52 assaying greater than 1.0g/t, 22 assaying greater than
2.0g/t and the ten highest values ranging from 4.5 to 81.0g/t gold. Results
will be reported upon completion of the initial drill campaign estimated to be
in late June.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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 David Volkert, P.Geo., Bear Creek's Vice President of
Exploration, who serves as the qualified person (QP) under the definitions of
National Instrument 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 Cusco,
Peru for direct shipping 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. (x)Any reference to the potential quantity & grade of
mineralization at Corani is conceptual in nature, there has been insufficient
exploration to define a mineral resource on the property and it is uncertain
if further exploration will result in discovery of a mineral resource on the
property. Readers are cautioned not to place undue reliance on forward-looking
statements. 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.
For further information
Andrew Swarthout, President and CEO, or Patrick De Witt, Investor Relations, Phone: (604) 685-6269, Direct: (604) 628-1111, E-mail: info@bearcreekmining.com
please visit the Company's website www.bearcreekmining.com
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Source: Bear Creek Mining Corporation |
