News Releases
| Tue Feb 20, 2007 Phase I Drilling To Commence On Abuelo Project; Additional Positive Surface Sampling Outlines Large Gold Anomaly | |
| Vancouver, B.C. - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce sampling has defined several drilling targets on its El Abuelo gold project, located midway between Barrick Gold's Pierina and Alto Chicama mines. El Abuelo is an untested, outcropping gold system associated with quartz veins, stockwork and breccias hosted in Chicama black shales (Cretaceous-age) along a northeast-trending structural zone that currently measures 1,200 x 100m (see news release 17 January '07). Old underground mine workings and areas of hydraulic mining at the surface suggest the presence of free gold as well as continuity of mineralization at depth. A total of 201 outcrop and chip channel rock geochemical samples have been collected along the trend, and mineralization remains open in all directions; particularly to the northeast where the last outcrop sample returned 3.51 g/t Au. The results are summarized as follows (see link to map http://www.bearcreekmining.com/i/pdf/ELABUELO16_02_2007.pdf): • Surface rock chip samples - 151 outcrop chip samples; 62 returned values greater than 0.30 g/t Au averaging 2.62 g/t Au, and ranging from 0.32 g/t to 17.2 g/t Au. • Channel Samples - 50 rock-chip channel samples (2m length each); 26 returned values greater than 0.30 g/t Au averaging 1.51 g/t Au, and ranging from 0.30 g/t to 5.78 g/t Au. An additional 52 samples were collected from exploration trenches in areas where no outcrop was present. The veins and stockwork at the prospect are best developed and most extensive when crossing the sedimentary bedding at vertical to high angles. The trenches, dug through deep cover (to 2m), encountered shallowly dipping sediments which did not permit representative sampling perpendicular to the bedding. Nonetheless, the samples exhibit anomalous gold with five samples greater than 0.30 g/t Au averaging 0.49 g/t Au. Bear Creek has decided to proceed directly to a scout drilling program in areas of cover to provide a more representative test for mineralization rather than continue with trenching. A drill program (minimum 1,000 meters in ten drill holes) will test areas of outcropping mineralization as well as covered areas and will commence in early March. The drilling is designed to confirm the continuity of mineralization along strike and to depths of at least 80 meters. Phase II drilling and preliminary metallurgical test work will be designed once drill results are received, expected in April. 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 to be performed using HQ diameter core. Core is to be logged and split on site under the supervision of Bear Creek geologists. Sampling is will be done on two-meter intervals and samples will be transported by Company staff to Trujillo, 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. Gold and silver assays will utilize geochem fire assay for gold and ICP multi-element analysis, including silver. 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. | |