$BSX.TO - Belo Sun Increases Measured and Indicated Resources to 5.1 Million Ounces of Gold Plus Inferred Resources of 2.5 Million Ounces of Gold at Its Volta Grande Gold Project, Brazil http://www.belosun.com/News/News-Releases/News-Releases-Details/2013/Belo-Sun-Increases-Measured-and-Indicated-Resources-to-51-Million-Ounces-of-Gold-Plus-Inferred-Resources-of-25-Million-Ounces-of-Gold-at-Its-Volta-Grande-Gold-Project-Brazil/default.aspx
... "TORONTO, ONTARIO--(Marketwired - Oct. 3, 2013) - Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") has completed an updated, independently audited mineral resource statement for its 100%-owned Volta Grande gold project in Para State, Brazil. This updated mineral resource statement is based on results from 94 additional drill holes (22,595 meters of drilling) which represents results of all the holes completed at the Volta Grande Project to date.
The results were independently audited by SRK Consulting (Canada) ("SRK") and represent an important increase in the measured and indicated categories of Belo Sun's estimated mineral resources. This mineral resource statement will support the definitive feasibility study for the development of the Volta Grande Project as follows (see Table below for mineral resource estimate details):
Measured and Indicated Pit Constrained Mineral Resources of 5.1 Million Ounces of gold at an average grade of 1.68 g/t Au, which represents an increase of approximately 10% in these resource categories (from 4.7 Million Ounces) compared with the previous April 2013 update.
Inferred Pit Constrained Mineral Resources of 2.4 Million Ounces of gold at an average grade of 1.69g/t Au; and
Underground resources of 14,000 ounces of gold at an average grade of 3.01 g/t Au in the Indicated category and 184,000 ounces at an average grade of 3.33 g/t Au in the Inferred category.
In response to the findings of the pre-feasibility study, two higher grade domains were modelled on the basis of geological interpretation and grade continuity. The modelled high grade zones can be traced for 540 metres along strike from the surface to a depth of 300 metres. This approach restricts the spatial influence of the higher grade gold mineralization, delivering a slightly more conservative resource model and mitigating the risks associated with the local impact of high grade intervals. The two high grade zones contain approximately 424,000 ounces of gold at a grade of 3.09 g/t gold in the Measured and Indicated categories and 1,400 ounces of gold at a grade of 2.52 g/t gold in the Inferred category.
Mark Eaton, President and CEO of the Company, commented, "This mineral resource update represents an increase in the measured and indicated category of one million ounces of gold, when compared with the December 2012 mineral resource update which was used as the basis of the May 2013 pre feasibility study. Belo Sun team is currently using the current mineral resource estimate in the modeling and mine sequencing for the ongoing definitive feasibility study."
The mineral resource estimate was reported in compliance with National Instrument 43-101 guidelines; the corresponding Technical Report will be filed under the Company's profile on SEDAR in due course. This is an update incorporating drilling completed since the previously reported mineral resource estimate that was issued in April, 2013. This mineral resource statement was calculated using the same modeling parameters as were used to complete the April 2013 update. Please note key parameters below. The mineral resource estimate was completed by the Belo Sun team under supervision of David Gower, P.Geo, and Carlos Costa, P.Geo. each of whom is a Qualified Person as defined by National Instrument 43-101. The mineral resource estimate was audited by Dr. Oy Leuangthong, P.Eng, and Dr. Lars Weiershauser, P.Geo of SRK, both of whom are Qualified Persons as defined by National Instrument 43-101 and are each independent of Belo Sun." ...