Bellhaven Ventures Highlights Molybdenum from the Cerro Chorcha Porphyry Copper Deposit
Bellhaven Ventures Inc. is pleased to confirm the presence of molybdenum in addition to previously-announced copper and gold mineralization at its Cerro Chorcha porphyry copper deposit in western Panama. Cerro Chorcha, a 242 km(2) concession block located 40 km from the Cerro Colorado porphyry copper deposit, is held by Cuprum Resources, a wholly-owned subsidiary of Bellhaven Ventures, Inc.
Carl Nelson, Bellhaven’s President and CEO, says, “The presence of significant molybdenum mineralization in four Cerro Chorcha drill holes adds to our excitement over this copper- and gold-bearing porphyry copper deposit.”
The Cerro Chorcha concession block is located in the headwaters of the Guariviara River, roughly 40 km northwest of the well-known Cerro Colorado porphyry copper deposit. Peter Folk, P. Eng., calculated an inferred mineral resource (NI 43-101 compliant category) of 134,924,000 tonnes at an average grade of 0.48 % Cu and 0.059 g/t Au (using a 0.2% Cu cut-off grade) or 70,464,000 tonnes at an average grade of 0.68 % Cu and 0.095 g/t Au (using a 0.4% Cu cut-off grade). This works out to an estimated 1.4 billion pounds of copper and 255,000 ounces of gold at a 0.2% copper cut-off grade. Bellhaven management considers these estimates to be both relevant and reliable. At the present time, too little data is available to calculate an overall Mo grade for the copper deposit.
Molybdenum mineralization at Cerro Chorcha was confirmed by diamond drill intercepts from the southern margin of the copper deposit. Anomalous intervals encountered during the 1994-1998 drill campaign are reported below:
HOLE # FROM TO INT. (m) %Mo %Cu —————————————————————– G95-5 76 110 34 0.0310 0.18 G95-25 180 498 318 0.0182 0.30 G98-29 26 86 60 0.0185 0.15
G98-31 110 207.6 97.6 0.0226 0.19
In addition to molybdenum, Bellhaven announced in March of 2006 the discovery of a high-grade quartz-magnetite vein stockwork at Cerro Chorcha. Trenches from the quartz-magnetite stockwork returned a combined 61 meters at an average grade of 1.89% copper, 1.44 g/t gold, and 23.28 ppm silver. This same interval averages 7.82 ppm Mo. Analyses were performed by ACME Labs in Vancouver using a fire assay procedure (fire assay prep and ICP-MS finish) for gold and a standard geochemical procedure (four-acid digestion and ICP-MS analysis) for copper, molybdenum, and silver.
Peter Folk, P. Eng., is the independent qualified person responsible for ensuring that the geologic information provided in this news release is accurate.
Plans are to embark on an aggressive drilling campaign to expand the size of the copper resource; to test a copper- and gold-bearing, quartz-magnetite vein stockwork within that copper resource; to establish the size and grade of the molybdenum resource; and, to test copper and molybdenum anomalies on the surrounding concession block.
Bellhaven Ventures Inc. is a Vancouver-based mineral exploration company with a portfolio of gold and copper properties in the Republic of Panama. The company has issued 21,143,151 shares and has no debt. For more information, please visit the web site at www.bellhaven-ventures.com or call Miguel Villahermosa at toll free 1-866-599-5930.
On behalf of the board of directors,
“Carl Nelson”
Carl Nelson, President, CEO
BELLHAVEN VENTURES INC.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information
Bellhaven Ventures Inc. Miguel Villahermosa, 866-599-5930 www.bellhaven-ventures.com
Source: Bellhaven Ventures Inc.
