Bear Lake Gold Announces Start of Drilling Program at Larder Lake
2011年9月7日 - 10:06PM
Marketwired
Bear Lake Gold Ltd. (the "Company") (TSX VENTURE: BLG) is pleased
to announce the commencement of a 15,000 m drilling program at its
Larder Lake gold project located on the prolific Cadillac-Larder
Lake Break in the mining district of North-Eastern Ontario.
Drilling program
Following the recent completion of a $3,923,750 private
placement and the estimation of NI 43-101 compliant mineral
resources on the Bear Lake and the Cheminis gold zones of the
Larder Lake Project, the Company has designed a 15,000m work
program. Approximately 8,000 m is planned to test the extension and
better define the Cheminis mineral resource. In addition, some
5,000 m will investigate the extensions of the Bear Lake mineral
resource. The recent resource estimate showed that both zones are
open on strike and at depth. Finally some 2,000 m of drilling is
planned in the Fernland area where hole 13 completed in November
2007, intersected 6.9g/t gold over 13.5m near surface (including
13.1 g/t gold over 6.0m). Additional work is required to evaluate
the potential and test the extensions of this mineralized zone.
One diamond drill has already started drilling and a second
drill is expected to arrive shortly. A third drill will be
mobilized to site when available.
Larder Lake gold project - NI 43-101 Mineral Resource
Estimate
As previously announced, the Bear Lake zone resource estimate
prepared by P&E Mining Consultants Inc. ("P&E"), an
independent geological and mining consulting firm of Brampton
Ontario, stands at 3,750,000 tonnes grading 5.67 g/t gold in the
Inferred category for a total of 683,600 ounces of gold. The zone
remains open on strike and at depth. (See news release dated June
29, 2011.)
The Cheminis zone resource estimate also prepared by P&E
outlined Indicated resources of 335,000 tonnes at 4.07 g/t gold for
43,800 ounces of gold and Inferred resources of 1,391,000 tonnes at
5.22 g/t gold for 233,400 ounces of gold. (See news release of
April 13, 2011.)
The Table 1 shows the combined resources of the two zones.
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Table 1
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Larder Lake Project
Combined Mineral Resources - June 2011 (1)
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Location Indicated Inferred
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Tonnes Grade Ounces Tonnes Grade Ounces
Bear Lake Zone - - - 3,750,000 5.67 683,600
Cheminis Zone 335,000 4.07 43,800 1,391,000 5.22 233,400
TOTAL 335,000 4.07 43,800 5,141,000 5.55 917,000
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(1) Resources are reported using a 2.5 g/t gold cutoff and a minimal
horizontal thickness of 2.0 m. The gold price used was US$1,207/oz. Process
recovery was 95%. Mining costs were $75/ tonne and Processing and G&A costs
were $20/tonne. Exchange rate used was $0.95USD = $1.00 CDN. Mineral
resources which are not mineral reserves do not have demonstrated economic
viability.
QA/QC
The Company has implemented a rigorous QA/QC program
independently set up and supervised by P&E. The program
includes chain of custody of samples, drill core sawn in half and
shipped in sealed bags to Laboratoire Expert, a certified assay
laboratory located in Rouyn Noranda, Quebec. Blank samples, blind
duplicates and certified standards are also inserted in the sample
stream. Samples with gold values higher than 10g Au/t are
systematically re-analysed, and samples containing visible gold are
also analysed systematically with the metallic screen analysis.
Qualified Persons
The Bear Lake and Cheminis resource estimates were undertaken by
Independent Qualified Persons Antoine Yassa, P.Geo., Eugene
Puritch, P.Eng. and Tracy Armstrong, P.Geo, of P&E. Mr.
Puritch, President of P&E has reviewed and approved the
contents of this press release insofar as the Cheminis and Bear
Lake mineral resource estimates are concerned.
P&E has completed a technical report for the mineral
resource estimates of the two zones in compliance with NI 43-101
and both reports were filed on Sedar.
The other technical information contained in this press release
was prepared and approved by Francois Viens, President and CEO of
the Company. Mr. Viens is a 'qualified person' within the meaning
of that term under NI 43-101.
Forward-Looking Information
This news release contains certain "forward-looking information"
under Canadian securities laws. All statements that address future
plans, activities, events or developments that the Company
believes, expects or anticipates will or may occur are
forward-looking information. Specifically, this news release
contains forward looking information about the Bear Lake and
Cheminis mineral resources and their potential expansion, the
Company's plans for future work program to be carried out at Larder
Lake, and results and timing of exploration programs.. Forward
looking information is based upon assumptions by management that
are subject to known and unknown risks and uncertainties beyond the
Company's control, including risks related to mining exploration
and the availability of financing for companies such as the
Company. There can be no assurance that outcomes anticipated in the
forward looking information will occur, and actual results may
differ materially for a variety of reasons. Accordingly, readers
should not place undue reliance on forward-looking information. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking information, except as may be required
by law.
About Bear Lake Gold
Bear Lake Gold Ltd. is engaged in the exploration of gold us
mineral properties in North America. Additional information about
the Company is available on the Company's website,
www.bearlakegold.com and on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Francois Viens President and CEO Bear Lake Gold Ltd.
450-677-1009 450-677-2601 (FAX) fviens@bearlakegold.com
Bear Lake Gold Ltd. (TSXV:BLG)
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