Bellhaven Copper & Gold (BHV-V) hit its best intercept yet at its La Mina gold-copper project in Colombia, and the good news came out of an emerging zone on the property.
The company reported a 98-metre highlight intercept averaging 1.24 grams gold and 0.14% copper. The assay came from core that was taken from the project’s Middle zone deposit, and especially bullish for the company is that the mineralization was struck at just 6 metres depth.
Another hole from the Middle zone returned a 140-metre highlight intercept grading 0.48 gram gold and 0.18% copper.
The positive results led to Bellhaven’s expanded gold-rich mineralization volume at the zone — laterally and vertically — by more than 100 metres.
The Middle zone’s footprint totals 300 metres along a northeast axis and 230 metres in a northwest direction.
The deposit sits 500 metres to the northwest of its better-defined La Cantera. Last September Bellhaven released a maiden resource estimate for La Cantera that outlined 40.5 million tonnes of inferred resources grading 0.77 gram gold and 0.31% copper, for 1.65 million equivalent oz. gold.
The latest results from Middle zone show near-surface mineralization, and drilling in the zone has deepened known mineralization to more than 680 metres. It was at such a depth that one hole bottomed in mineralization with an 11-metre intercept grading 0.7 gram gold equivalent.
But the company is most excited about the near-surface mineralization — mineralization there contains higher gold-to-copper ratios. The better ratios, combined with lower costs to mine near-surface material, could have a positive impact on the zone’s upcoming mineral resource calculation.
The company says that a resource update for the project will be out by mid-year.
La Mina sits within the Middle Cauca belt of Miocene-age volcanic and plutonic rocks in Central Colombia. The region is known to host large porphyry gold deposits, such as AngloGold Ashanti’s (AU-V) 12-million-oz. La Colosa deposit.
On Feb. 9 — the day the results were released — the company’s shares were up a penny to 45¢ on 350,000 shares traded.
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