Bear Lake Gold Announces Drilling Results at Larder Lake-Gold Mineralization Extended at Cheminis
2011年11月30日 - 2:30AM
Marketwired
Bear Lake Gold Ltd. (the "Company") (TSX VENTURE:BLG) is pleased to
announce results of the first six holes 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. Hole 93W intersected 5.6 g/t gold over 2.6 m and confirmed
the extension of the D Zone to the east. Additional drilling is
planned to further investigate the continuity of the zone.
Drilling Results
Two diamond drills are active at Larder Lake. One drill is
testing the extension of the resources of the Cheminis zone and one
drill is investigating the extension of the resources at the Bear
Lake zone. Six holes totalling 3,374 m of drilling are completed at
Cheminis and one hole totalling 894 m is completed on the Bear Lake
zone. Results are pending on the Bear Lake hole.
Results available to date are shown in Table 1 below. Most holes
tested the extension of the D and NCB zones, two of the largest
mineralized zones holding gold resources at Cheminis. Hole 93W
drilled to the east of the D zone intersected 5.6 g/t gold over 2.6
m and confirmed the extension of the high grade mineralization. It
is located at the eastern edge of the resource estimation model and
the Company believes that it should have a positive impact on the
resources. Holes 89 to 92 are located outside the western limit of
the resource estimation model and intersected lower grade
mineralization. However, grades obtained in these holes may
potentially indicate the presence of lower-grade mineralized
horizons intercalated within higher-grade lenses and additional
drilling is required in this area to investigate the presence of
higher-grade lenses. Figures 1 & 2
(http://media3.marketwire.com/docs/Figures1_2_1129.pdf) show the
recent drill hole locations compared to the grade distribution of
the gold resources. Some holes also intersected lower-grade
mineralization in the SS zone. Additional drilling is planned to
investigate the presence of higher-grade mineralization associated
to the SS zone.
Table 1
Larder Lake, Cheminis Zone - Drill Results
----------------------------------------------------------------------------
From To Length.
Hole Zone (m) (m) (m)(i) Grade (g/t gold)
----------------------------------------------------------------------------
89A SS 287.5 293.5 6.0 1.72
Including 4.3 g/t over
1.3m
D 312.2 318.7 6.5 NSA
NCB 480.0 481.5 1.5 0.44
----------------------------------------------------------------------------
90 SS 226.0 232.0 6.0 1.27
including 2.5 g/t over
1.5m
D 255.7 256.3 0.6 NSA
NCB 412.5 426.0 13.5 NSA
----------------------------------------------------------------------------
91 SS 437.0 438.0 1.0 0.40
D 443.0 445.0 2.0 1.41
----------------------------------------------------------------------------
92W SS 485.8 487.4 1.5 2.48
D 496.8 498.2 1.4 4.83
----------------------------------------------------------------------------
93W SS 538.4 543.5 5.1 1.18
D 549.9 556.0 6.1 3.18
including 5.6 g/t over
2.6m
----------------------------------------------------------------------------
94 SS 553.5 555.0 1.5 1.31
D 558.0 559.0 1.0 1.19
----------------------------------------------------------------------------
(i) Information available to date does not allow estimation of true width
Drilling program
Following the estimation of NI 43-101 compliant mineral
resources on the Bear Lake and Cheminis gold zones of the Larder
Lake Project and the completion of a $3,923,750 private placement
last August, the Company designed a 15,000m drilling 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.
Larder Lake Gold Project - NI 43-101 Mineral Resources
As announced in April and June 2011, P&E Mining Consultants
Inc. ("P&E"), an independent geological and mining consulting
firm of Brampton Ontario, have completed a resource estimate on the
Bear Lake and Cheminis zone of the Larder Lake Project and
technical reports were filed on SEDAR.
Table 2 shows the combined resources of the two zones.
Table 2
----------------------------------------------------------------------------
Larder Lake Project
Combined Mineral Resources - June 2011 (1)
----------------------------------------------------------------------------
Location Indicated Inferred
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
(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 technical disclosure contained in this press release was
approved by Francois Viens, President and CEO of the Company. Mr.
Viens, P. Eng. 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 focused on the exploration and
development of the Larder Lake gold project in Ontario, Canada. The
common shares of the Company trade on the TSX Venture Exchange
under the symbol BLG. Additional information about the Company is
available on its 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.comwww.bearlakegold.com
Bear Lake Gold Ltd. (TSXV:BLG)
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