News Releases
| Wed Apr 19, 2006 Drill Results Expand Silver Mineralization At Corani Exploration Updates On Other Projects | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vancouver, B.C. - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce results for twenty-six additional drill holes from the Corani project. This brings the total holes drilled following the first resource estimation within the silver-rich targets to thirty-three (see news release 13 March 2006). A total of forty drill holes have been completed in the gold zone which has not been included in the resource estimation, an update of which is expected in July. Highlights of this release include: • Corani Este: first step out drill hole to the east finds 30m @ 157 g/mt Ag beneath post-mineral tuff; mineralization remains open east and north • Minas Corani: step out drill holes north and west intersect silver mineralization; including 24m @ 168 g/mt Ag + 1.6% Pb; opens up approximately 500 meters of prospective width north of inferred resource limits • Corani Main: high-grade, hanging wall structure with 6m @ 291 g/mt Ag + 1.7% Pb beneath soil and talus slope cover Andrew Swarthout, President and CEO, stated "we are very excited with the first drilling results from the new access east of Corani Este. This target has the potential to quickly add higher-grade silver ounces to the resource now that it has been confirmed that mineralization extends to the east beneath the post-mineral tuff. The same story is emerging north and west of Minas Corani where we continue to encounter new silver mineralization beneath thin post-mineral cover. Drilling will continue to search for the limits of mineralization in all three target areas in parallel with preparation of the first economic scoping study on the project." THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS: CORANI ESTE
MINAS CORANI ZONE
CORANI MAIN
GOLD ZONE
Note: Gold equivalent calculation using ratio of price/ounce Au:Ag= 55:1
(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/2006-04-19_CDR.pdf) Four drills continue on the project with two dedicated to expanding mineralization at Corani Este and two expanding mineralization at Minas Corani and Corani Main. 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 meters @ 72 g/t and, recently, Trench 29 confirmed the drill target with 82 meters @ 34 g/t Ag, including 26 meters @ 56 g/t Ag at the surface. Corani Este- The first drill hole (C-67) from the new access to the east intersected 112 meters of post-mineral tuff underlain by 76m @ 99.3 g/t Ag, 0.8% Pb, and 0.3% Zn, including a higher grade zone of 30 meters @ 157.0 g/t Ag. This drill hole confirms the known width of the Corani Este mineralization to at least 150 meters and still open to the east. In addition, step-out drilling extends the mineralization 125 meters to the north-northwest with drill holes C-59 and C-64 series intersecting mineralization, including higher-grade Ag, Pb, and Zn feeder structures. Mineralization remains open and drilling continues with two machines on the northwest and east extensions of the mineralization. The program is currently eleven drill holes beyond the inferred resource of 42.2MT grading 88.2 g/t Ag, 1.00% Pb, and 0.73% Zn estimated in March 2006 for this target alone. Minas Corani- the C-51 and C-65 series drill holes establish that mineralization continues to extend north and west of the inferred resource block containing 36.9MT grading 64.3 g/t Ag, 1.19% Pb, and 0.46%Zn. Importantly, the post-mineral tuff thickness is generally less than 50 meters thick, indicating that stripping ratios will continue to be permissive as we move north and west. Several mineralized structures and barite breccia bodies are believed to underlie the approximately 500 meter wide area covered by the post-mineral tuffs. The extensive target areas north and west of Minas Corani are very favorable for extending mineralization and adding new discoveries. One drill continues to focus on Minas Corani and a second one is being moved from Main Corani to Minas in order to expand the current resource area. Additionally, recent trenching (T-27 containing 24 m @ 60.1 g/t Ag, 0.75% Pb) located 250 meters south of Trench 16 and drill hole C-6 (20 m @ 140.0 g/t Ag) has exposed the favorable tuff unit containing strong barite breccias and stockwork veining. T-27 begins to connect mineralization between the Minas Corani and Main Corani targets. Corani Main- Drill hole C-66 intersected another higher-grade feeder structure in the hanging wall to the main structural zone. These structures are hidden beneath a thin cover of talus and require drilling for discovery. The remaining drilling (C-58 and C-62 series) continued to expand mineralization in the grade-range of 30 to 110 g/t Ag for a distance of 200 meters into the footwall. After some additional hanging wall exploration, the drill will be moved to assist in the expansion of mineralization at Minas Corani. Gold Zone- Infill drilling such as C60B (12 m @ 4.8 g/t Au) continues to confirm the potential of an approximate 1000-meter long strike length of strong mineralization. Drill holes C-61 and C-63 appear to define the northern limits of mineralization. The gold zone is continuing to add value to the project and further drilling is planned after supplementary mapping and sampling is completed to refine targets for the next phase of drilling. (To access the gold zone map directly please refer to http://www.bearcreekmining.com/i/pdf/2006-04-19_CGZ.pdf) 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. Studies on these items are being conducted for completion and compiling 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 by the end of May. OTHER PROJECTS Drill permit applications are in process on the Santa Ana silver prospect and drilling is expected to start in June. Additionally, the Company announces that it has acquired the Condor gold project located in the Nazca area of southern Peru. Condor is an epithermal gold system hosted in Yura-group quartzites (Cretaceous) and Tertiary volcanics cut by stockwork quartz veins. The primary target area measures 1200m long by 60-150m wide and is open in all directions. Sampling to date includes a total of 469 outcrop and trench rock-chip samples that average 700ppb gold with 52 assaying >1.0g/t, 22 assaying >2.0g/t and the ten highest values ranging from 4.5 to 81.0g/t gold. Initial drilling (500m) consisting of a series of shallow drill holes to confirm continuity of gold mineralization at depth will begin in early May and results will be reported at the completion of the program. Bear Creek is earning a 100% interest in the 2600-hectare Condor project by making payments totaling $1.76M over 3 years. The owners retain a 2% NSR, which the Company can purchase at any time for $3.5M. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Andrew Swarthout - President and CEO, or Patrick De Witt - Investor Relations Phone: 604-685-6269 Direct: 604-628-1111 E-mail: info@bearcreekmining.com For further information, please visit the Company's website (www.bearcreekmining.com) 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. *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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||