Bellhaven (BHV) looks to be perking up. It's been a dog for a while now but they put a drill down the heart of an anomaly that they couldn't get to until they completed an earn-in a few months ago. A few holes just skirted the anomaly and still weren't bad. This one has been drilling for a few weeks. Stock trading at $.07 yesterday and management grants options yesterday at $.25. Calandra pumps this thing every month or so but hedge funds have been scaling out of it all year. Some volume coming in today and visuals may be leaking:
media3.marketwire.com
Thur May 16, 2013 - Bellhaven Collars First Drill Hole Over Center of La Garrucha Au-(Cu) Prospect, La Mina, Colombia
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Vancouver, British Columbia – May 16, 2013. Bellhaven Copper & Gold Inc. (TSX-Ventures: BHV (“Bellhaven” or the “Company”). is pleased to announce that the first drill hole is now underway at the Company’s La Garrucha Au-(Cu) prospect. This drill hole, LME-1100, is collared in the central region of the large magnetic anomaly and will pass directly beneath where recent channel samples along a stream returned values up to 0.88 g/t gold and 0.30% copper. The hole is designed to exit the target near where DDH LME-1096 nicked the edge of the magnetic anomaly, returning 10.81 m averaging 1.10 g/t gold, 0.20% copper (1.40 g/t gold equivalent; see news release of February 28).
La Garrucha prospect is a Au-(Cu) porphyry deposit, similar to La Cantera and Middle Zone deposits where Bellhaven has discovered 2.55 Moz of gold equivalent located less than a kilometre away (see news release dated July 9, 2012; for disclosure on gold equivalent, see Forward-Looking Statements at the bottom of this news release). Gold and copper at La Garrucha and La Cantera are coincident with strong magnetic anomalies.
For maps and a cross section of the current drill hole, channel samples, and associated magnetic anomaly, see the following link: http://media3.marketwire.com/docs/BHVFigs.pdf
The Company holds an undivided interest in the western portion of La Garrucha and signed an option agreement to acquire a 100% interest in the remaining portions of La Garrucha (see news release of March 26).
Julio Benedetti, Bellhaven’s CEO and Chairman, commented as follows:
“In the past all of our drilling at La Garrucha was restricted to the western fringe of the large magnetic anomaly because of ownership issues. Despite these challenges, we were pleased with the results—particularly DDH LME-1096 which cut the edge of the anomaly, returning gold grades up to 2 g/t in the final metres of the hole. Now that Bellhaven has unified ownership of La Garrucha, the first test of the core region of the magnetic anomaly can commence. We are excited finally to begin this test.” |
