More positive drill results from Corani silver deposit, new mineralized outcrops extend target west of Minas Corani
Wednesday November 15, 8:30 am ET
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VANCOUVER, Nov. 15 /CNW/ - Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce results for twenty-four additional drill holes from the Corani project. This brings the total holes drilled following the recently updated resource estimation (see news release 23 August 2006) on this major silver discovery to 146; and the total drilling on the project to 59,797 meters in 361 drill holes. Highlights of this release include:
- Corani Este/Minas Corani Connector: Drilling continues to expand
silver mineralization between Este and Minas, including C159A with
20m averaging 135 g/t silver and C-161 with 47m averaging 72 g/t
silver, including 16m averaging 101 g/t silver and 2.0% zinc.
- Minas Corani: Step-out drilling 250 meters north between the east and
west limbs, intersected 34m at 145 g/t silver, 0.9% lead in C152A;
mineralization still open.
- Minas Corani Southwest: Step-out drilling under cover southwest of
Minas Corani has intersected 14m averaging 208 g/t silver, 2.6% lead,
2.4% zinc (C153). This mineralization remains open; and, importantly
400 meters further west an outcrop with strong surface silver
geochemistry (up to 100g/t Ag) has been discovered. Drilling has
commenced on this new target. (see "New Zone Discovered" below)
Andrew Swarthout, President and CEO, stated "We continue to intersect excellent silver base metal grades in drilling; and, significant new outcrop sample results have caused us to reevaluate our concepts, opening up more new areas for additional exploration. New discoveries on the property are still being made almost 18 months since the first drill hole was collared; largely because the nearly 60,000 meters of drilling is concentrated in a relatively small area surrounded by post-mineral cover. The robust silver and zinc grades between Minas Corani and Corani Este, as well as the generally high "hit-rate" in all of the 122 holes drilled since the August resource estimate, will combine to have a positive impact on the new resource estimate update expected in December. Importantly, the high zinc grades recently encountered give Corani excellent leverage to the currently favorable base metals prices."
THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS:
CORANI ESTE
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Interval Silver
Inclin- Total (m) (grams
Drill Azimuth ation Depth From To True per Lead Zinc
Hole No. (degrees) (degrees) (m) (m) (m) Width tonne) (%) (%)
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C-141B 250 -45 155.5 35 100 65 61.9 1.1 0.2
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includes 60 68 8 169.8 0.7 nil
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and 76 82 6 25.7 1.7 1.2
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C-161 70 -70 128 25 72 47 72.1 1.9 0.8
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includes 54 70 16 100.8 2.2 2.0
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C-161A 250 -70 86 20 64 44 57.0 1.5 0.4
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includes 34 58 24 76.9 1.7 0.6
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MINAS CORANI ZONE
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Interval Silver
Inclin- Total (m) (grams
Drill Azimuth ation Depth From To True per Lead Zinc
Hole No. (degrees) (degrees) (m) (m) (m) Width tonne) (%) (%)
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C-143B 70 -55 228 4 70 66 42.4 0.6 0.1
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and 126 150 24 59.8 1.2 1.9
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C-149A 70 -70 129
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C-151 70 -70 170 0 84 84 53.7 1.2 0.1
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C-151A 250 -70 218 0 88 88 44.3 0.5 0.1
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includes 80 88 8 237.8 1.5 0.2
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168 190 22 23.6 0.2 1.0
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C-152 70 -70 238 75 126 51 36.4 1.7 0.1
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158 186 28 31.2 0.5 1.5
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C-152A 250 -70 199 49 132 83 79.6 0.6 0.1
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includes 88 122 34 145.4 0.9 0.1
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C-153 70 -70 215 2 130 128 63.9 1.5 0.3
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includes 2 20 18 100.4 3.3 0.1
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and 98 106 8 98.8 1.9 nil
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and 116 130 14 207.6 2.6 2.4
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C-153A 250 -70 191 1 30 29 52.0 1.1 0.1
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C-155 70 -70 197 46 54 8 54.0 1.1 1.0
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84 144 60 14.1 0.2 1.5
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156 190 34 27.4 0.6 2.0
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C-155A 250 -70 274 76 84 8 19.5 0.6 2.9
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118 130 12 161.2 2.3 2.8
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162 184 22 98.4 1.4 0.2
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C-156 70 -70 169
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C-156A 250 -70 194 188 194 6 33.3 0.4 1.2
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C-157 70 -70 128 34 40 6 70.7 0.8 0.1
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C-157A 250 -70 164 128 134 6 62.0 1.1 1.8
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C-158 70 -70 38
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C-158A 250 -70 20
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C-159 70 -70 218 37 136 99 32.4 0.7 0.1
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includes 100 108 8 84.5 1.2 0.1
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160 168 8 81.5 0.4 0.2
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C-159A 250 -70 212 36 150 114 57.9 0.9 0.3
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includes 50 70 20 134.6 0.8 0.1
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and 106 114 8 120.8 0.8 0.4
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C-160 70 -70 111 20 46 26 29.1 0.2 0.1
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50 56 6 36.3 0.3 0.2
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100 111 11 22.2 0.1 0.1
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MAIN CORANI
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Interval Silver
Inclin- Total (m) (grams
Drill Azimuth ation Depth From To True per Lead Zinc
Hole No. (degrees) (degrees) (m) (m) (m) Width tonne) (%) (%)
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C-150 70 -50 221 0 122 122 23.8 0.5 0.2
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includes 34 44 10 66.6 1.8 0.1
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C-154 70 -50 195 64 76 12 85.0 0.6 0.2
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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 bearcreekmining.com.
Corani Este- Drilling continues to show the possible extension of mineralization between Este and Minas under shallow cover at the head of the glacial valley with drill holes offsetting the positive results from the C125 and C126 series of holes (see news release 10 October 2006). New results from drill hole C159A show a significant length of silver mineralization with 114m (at) 57.9g/t Ag, including 20m (at) 134.6 g/t Ag located to the northwest of the head of the glacial valley, and 16m (at) 100.8g/t Ag and 2% Zn in hole C161, located within the glacial valley. Additional drilling will be completed to the north, south and west to extend this mineralization and confirm the connection of the two zones.
Minas Corani- Drilling on the extreme north of Minas and to the south of Minas just across the drainage from the extension of Main Corani has been successful with intersections of 83m (at) 79.6 g/t Ag (C152A) and 128m (at) 63.9 g/t Ag, including 14m (at) 207.6 g/t Ag and 2.9% Zn (C153), respectively. Additionally, other holes between Minas and Main have discovered up to 60m (at) 1.5% Zn (C155). Infill drilling on the south end of Minas is continuing and additional step-out drilling farther to the north of Minas is being planned considering the unexpectedly thicker mineralization and relatively thin post-mineral cover discovered in C152 and C152A.
New Zone Discovered- Surface sampling 400m southwest of C153 (latest results reported above) has discovered a 700m x 300m zone of quartz and stock work veining in pre-mineral tuff with grades up to 100 g/t Ag with up to 0.5 g/t gold. Drilling in this newly discovered area is underway.
Corani Main- Additional trenching in the hanging wall of the main structure is underway to delineate additional drill targets. Initial results from Trench 41, a southwest offset to drill hole C42A (80m averaging 84 g/t silver and 1.4% lead), shows 64m averaging 49.1 g/t silver and 0.7% lead.
Three drills continue on the project focused on exploring extensions under cover in both the Corani Este and Minas Corani targets. The fourth rig continues phase 2 drilling at the Company's Santa Ana silver deposit.
Metallurgical Testing- Bear Creek has successfully completed the initial phase of metallurgical test work (see news release 27 September 2006) which provides a conceptual flow sheet for the processing of the Corani material. As previously reported, over the coming months the Company will focus on optimizing recoveries through advancing the understanding of the metallurgical response of the different zones of the deposit. The drilling of four HQ diameter drill holes will begin in mid-November to provide metallurgical samples for shipment to North America for advanced metallurgical testing. The metallurgical drilling will focus on areas identified in the preliminary mine plan as high-grade feed accessible for the first years of production. The samples will be collected and preserved for shipment under the supervision of Transmin Metallurgical Consultants. Test work will be designed to build upon the positive results in previous testing to further improve recoveries in silver, lead, and zinc for the purposes of a pre-feasibility study.
Resource Estimation/Scoping Study- Due to additional positive drill results it has been decided to await the second new resource estimate this year scheduled for completion in December. The major elements for the completion of the scoping study are in place and the engineering aspects are positive. Management believes the significant amount of positive new drill data generated in the last couple of months will further strengthen the conclusions of this study. This scoping study will provide Bear Creek with a project description that will allow the Company to immediately advance to preparation of a preliminary feasibility study. A preliminary mining plan has been completed with Independent Mining Consultants of Tucson, AZ which provides guidance for the location of metallurgical drill holes, and further in-fill and step-out drilling requirements.
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)
Source: Bear Creek Mining Corporation |
