News Releases
| Mon May 5, 2008 Bear Creek Announces Results Of Corani Metallurgical Mapping Further Confirming Scoping Study Recoveries And Indicating Upside Potential | |
| Vancouver, B.C. - Bear Creek Mining Corporation (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to provide an update on the ongoing advanced metallurgical testing being conducted at the Company's 100% owned Corani silver-lead-zinc deposit. Further positive guidance on metallurgical recoveries can be given following completion of metallurgical mapping throughout the deposit. The objective of this study was to establish the distribution of different ore-types, as determined by metallurgical testing, and evaluate the effect on anticipated recoveries. This detailed study confirms that overall silver and lead recoveries remain at 80% and 60%, respectively; whereas there is significant improvement in anticipated zinc recovery from 60% to 75%. As the Corani silver deposit contains 2.5 billion pounds of zinc (M+I) the increase in zinc recovery could equate to a significant economic boost to this already robust deposit. According to Andrew T. Swarthout, President and CEO, "We are very pleased with these results as the metallurgical mapping is an important step in understanding the mining sequence of different mineralization-styles and better predicting recoveries through the life of the mine. The results provide assurance that the strong economic viability of the Corani deposit, as provided in the Scoping Study and Preliminary Economic Assessment (see news release dated January 17, 2008) remains on-target or can be improved upon. As the resource and financial models are further refined during the pre-feasibility study, we do not anticipate significant variations with respect to metal recoveries or the anticipated strong financial performance indicated by the Scoping Study/PEA." The metallurgical mapping exercise, involving approximately 11 man-months of effort, began in early February 2008. A total of 202 drill holes (34,671 m of core) throughout the deposits were re-logged using criteria derived from the metallurgical testing in order to separate ore-types representing defined recoveries. The ore-types were placed on cross sections, creating discreet volumes related to the 71 separate metallurgical test samples which provide a basis for expected processing recoveries. These ore-types were incorporated into the three-dimensional resource model at Independent Mining Consultants, Tucson, Arizona and the model was utilized to calculate weighted averages and average recovery grades for each ore-type and the deposit in general. Incorporating the metallurgical test work into the resource model marks a critical step in laying the groundwork for the completion of the Corani pre-feasibility study which was approved by the Company's Board of Directors in March 2008. Various mine sequences are also being examined in conjunction with continued metallurgical testing in order to optimize mine planning and mill feed alternatives. The pre-feasibility study is expected to be completed by the end of 2008. 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 and/or Marc Leduc, P. Eng., Vice President of Technical Services and the President and CEO, Andrew Swarthout, P.Geo., who serve as the Qualified Persons under the definitions of NI 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. | |