News Releases
| Wed Jan 31, 2007 More Positive Drill Results Continue To Expand Corani Silver Deposit; New Silver And Base Metals Discoveries Open Potential To The West | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
VANCOUVER, B.C.- Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce results for thirty-seven additional drill holes (6,024 meters) from the Corani project. These results represent all of the holes drilled since the recently updated resource estimation (see news release 5 December 2006) on this major silver discovery. The total drilling completed on the property now stands at 67,823.6 meters in 410 holes, including 4 additional metallurgical test holes drilled in December 2006. Highlights of this release include:
http://www.bearcreekmining.com/s/PhotosAndMaps.asp?ReportID=168832) New discoveries will likely be "blind" targets that will be found either under the post mineral tuff or in the large color anomaly where we have only drill tested 10% of the area. Drilling aimed at increasing resources is ongoing in conjunction with scoping study and pre-feasibility work." THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS: CORANI ESTE
MAIN CORANI
MINAS CORANI ZONE
(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/s/PhotosAndMaps.asp?ReportID=168831) Corani Este- Drilling continues to show that the mineralized system extends to the northwest under post-mineral 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). Drill hole C173A intersected a significant interval of silver mineralization (86m at 64.6g/t Ag, including 18m at 104.8 g/t Ag) located to the northwest of the head of the glacial valley 125 meters northwest of the limits of the previous resource estimation. Additional drilling is in progress to the north and southwest to extend this mineralization where it remains open. Minas Corani - Infill drilling at Minas confirms the recent resource estimate with drill hole C178 averaging 63m at 79.4g/t silver, including 16m at 128.0g/t silver, and drill hole C184A intersecting 87m at 60.5g/t silver, including 42m at 80.7 g/t silver. Additionally, two holes located on opposite extremes of Minas, to the southwest and northeast have intersected 44m at 1.1% zinc (C177 from 100m to 144m) and 16m at 1.1% zinc (C180 from 84m to 100m), expanding the potential to add significant zinc resources to the Corani silver resources. Continued drilling beyond the limits of the current defined resource at Minas Corani will offset good intersections, such as drill hole C152A which intersected 83m averaging 79.6g/t silver. Importantly, drill hole hole C181, which in fills the area between the East and West limbs of Minas Corani, encountered an aggregate mineralized section of 68 meters at 84.8 g/t Ag, 1.0% Pb and 1.7% zinc in four separate zones. New Zone -- Drill hole C172 intersected 38m at 41.2g/t silver and indicating that additional drilling along strike to the northwest under thin cover is needed to fully evaluate the area where surface sampling has defined a 700m x 300m zone of quartz and stock work veining in pre-mineral tuff with grades up to 100 g/t Ag and up to 0.5 g/t gold. Drilling in this newly discovered area continues. Post-mineral cover to the west of Minas Corani and Main Corani likely contains additional untested targets. Corani Main- Hole C174 intersected 44m (from 60m to 104m) at 1.2% zinc, opening up a new area of zinc mineralization on the far northeast corner of Main that could coalesce with the zinc drilled on the south edge of Minas (e.g C151A with 22 m at 1.0% zinc). Stibnite Zone -- Two scout holes have been drilled in the stibnite zone, located to the east-southeast of the gold zone, with anomalous silver intersected over narrow widths (e.g. C179, 6m with 24.3g/t silver). The entire hematite-rich color anomaly associated with the stibnite mineralization measures 1500m in diameter and additional drilling is warranted to further test this large altered and mineralized target area. Two drills continue on the project focused on exploring extensions under cover in both the Corani Este and Minas Corani targets and initial condemnation drilling at proposed tailings and waste sites. Metallurgical Testing- Four additional large-diameter HQ drill holes were completed in December 2006 and the split core was forwarded to SGS - Lakefield Research in Canada under the supervision of Transmin Metallurgical Consultants (Lima) for compositing and advanced metallurgical testing. The test work will focus on areas identified in the preliminary mine plan as high-grade feed accessible for the first years of production. Test work is being designed to build upon the positive results in previous testing to further optimize recoveries in silver, lead, and zinc for the purposes of advancing a preliminary feasibility study. Test work has commenced on two composites and results are expected in the next month. For the development of the scoping study, Bear Creek will be utilizing the results from the metallurgical tests being performed at Lakefield Research to further define the process components of the project which will allow us to estimate the process flow sheet, recoveries and costs associated with the processing methods with a higher degree of precision. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. - End - 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||