Belvedere confirms gold mineralisation along 2.5 km strike at Antikanperä Finland

Vancouver, British Columbia, Mar 19th , 2013. Belvedere Resources Ltd. BEL:TSX-V

(“Belvedere”) is pleased to announce results from the reconnaissance drilling campaign on their 10 km2 Antikanperä gold property. This phase of drilling was aimed at investigating the possible strike extents to the Pöntio gold discovery, announced in September 2012, along the M2 geophysical trend. Twelve new holes were drilled along a 2.5 km strike for a total of 1167 m.  The drilling was successful in intersecting mineralised diorite and plagioclase porphyry of similar style to the initial Pöntio discovery in all but three of the drillholes.

 

Highlights:

  • 15.51 m @ 1.47 g/t Au extending Pöntio mineralisation down dip in BelAnp017
  • 20.01 m @ 1.07 g/t Au new zone mineralisation intersected 270m south of Pöntio in BelAnp026
  • 22.04 m @ 0.6 g/t Au in parallel (?) intrusive system 1.4 km south of Pöntio in BelAnp023
  • 84.03m @ 0.47 g/t Au 2.1 km south of Pöntio in BelAnp024

 

David Pym CEO states  “The drilling campaign has been successful in beginning to outline a large strikelength of  gold mineralised intrusive over 2.5 km on the M2 geophysical trend. Considering the lack of outcrop, this phase of drilling has been remarkably successful, potentially indicating that a number of mineralised intrusives are present on the trend. The new mineralised zones in BelAnp023 and 024 open up considerable new exploration potential in the southern areas of the trend, with 023 being collared in mineralisation and 024 being mineralised along the entire length of the drillhole”   

 

Hole_ID From (m) Interval (m) Au g/t Cu (ppm) Gram Metres
BELANP017

59.73

61.07

0.77

524

46.9

including

78.90

4.10

1.51

962

6.2

including

91.12

15.51

1.47

889

22.8

BELANP018

49.40

18.41

0.64

572

11.7

including

50.35

4.53

1.17

748

5.3

BELANP020

79.99

15.41

0.34

223

5.2

BELANP022

1.74

16.20

0.44

362

7.2

BELANP022

36.54

2.22

1.89

539

4.2

BELANP023

1.11

22.04

0.60

582

13.2

including

6.38

1.14

3.85

386

4.4

BELANP024

17.37

84.03

0.47

374

39.6

including

23.40

0.97

3.53

240

3.4

including

66.61

1.34

2.35

694

3.1

BELANP026

44.23

20.01

1.07

701

21.4

BELANP028

29.20

5.21

0.94

596

4.9

including

30.43

1.07

2.94

1050

3.1

BELANP028

58.05

8.85

0.43

344

3.8

 

Table 1: Intersections using a 0.3 g/t Au cut-off. No top cut is applied. Maximum grade is 5.3 g/t Au over 0.71m. Intersections are estimated to be 70-90% of true width. The remaining holes failed to intersect any significant mineralisation.

 

The drilling shows some variability of gold mineralisation within the intrusive dykes/sills. Chalcopyrite remains the best indicator of the presence of gold. The overall strike and plunge of the Pöntio mineralisation and the other intersections along the trend are still poorly constrained. For instance, exploration holes 150m  to the north of Pöntio, BelAnp 020 and 028 intersect similar intrusive units, but contain only minor mineralisation. It is uncertain at this stage if they intersected the same intrusive or one of the footwall intrusives to the west of the Pöntio mineralisation, Indications to date are there are multiple mineralised intrusives, with BelAnp023 and 024 mineralisation being hosted in plagioclase porphyry gabbro diorites rather than the typical diorite dyke/sills of the Pöntio mineralisation.

 

HoleID

Easting

Northing

Elevation

Azimuth

Dip

Depth (m)

BELANP017

2548175

7121754

87.5

270

45

139.9

BELANP018

2548163

7121853

87.5

270

45

128.2

BELANP019

2548070

7121755

77

270

45

98.2

BELANP020

2548130

7121995

77

270

45

122.1

BELANP021

2548164

7121599

90

270

45

119.15

BELANP022

2548184

7121449

93

270

45

89.45

BELANP023

2548204

7120300

98

270

45

55.55

BELANP024

2548526

7119678

100

270

45

104.4

BELANP025

2548262

7121353

91

270

45

42.9

BELANP027

2548141

7121650

88

270

45

70.25

BELANP026

2548218

7121449

92.5

270

45

101.45

BELANP028

2548093

7122043

84

270

45

95.45

Table 2: Details of drillhole locations

The drilling was undertaken by Drillcon SMOY of Finland, providing 42 mm diameter core. Samples are comprised of half diamond core. Intersections are estimated to be 70-90% of true width. No top cut is applied. Maximum grade is 5.3 g/t Au over 0.71m. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an AAS finish at the internationally accredited laboratories of ALS Chemex in Finland. The quality assurance-quality control (QAQC) program of Belvedere consists of the insertion of certified standards of known gold content every 20 samples, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process. Standards, blanks and duplicates make up approximately 15% of the samples assayed. The remaining half core is retained on site for verification and reference purposes.

 

About Belvedere:

Belvedere Resources Limited is a mining company incorporated in British Columbia with a primary focus on nickel, gold, cobalt and copper in Finland. The Company currently produces 2200t of nickel in concentrate/year from the Hitura nickel mine in Central Finland.  The Company has a number of advanced gold projects in close proximity to the Hitura mine.

 

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks

and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to future drilling and interpreted continuity of the new mineralised zones) are forward-looking statements that involve various degrees of risk. It is important to note that the Company’s actual results could differ materially from those in such forward-looking statements.

 

Qualified Person

The technical aspects of this statement have been prepared by Dr Toby Strauss (CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr Strauss has verified the data supporting this press release. Verification included checking the data to the original Laboratory certificates, examining photographs of the core, reviewing sampling procedures and reviewing the geological interpretation.

 

BELVEDERE RESOURCES LTD.

 

David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place, Vancouver. BC. V6C 3E2, Canada

 

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the contents of this release.