Drilling Report
27 9월 2006 - 12:06AM
UK Regulatory
RNS Number:4998J
Bema Gold Corporation
26 September 2006
News Release
New Licenses Acquired at the Kupol Project Area and Additional High Grade
Results
Returned From the Newly Discovered 650 Zone
Vancouver, September 26, 2006 - Bema Gold Corporation (TSX, NYSE: BGO, AIM: BAU)
is pleased to announce that it's 75% owned Russian subsidiary, Chukotka Mining
and Geological Company ("CMGC"), has been awarded two new licenses surrounding,
and adjacent to, the Kupol Project located in far east Russia where Bema is
currently developing the Kupol Mine. With the acquisition of these two
licenses, Kupol West and Kupol East, CMGC increases its overall land position in
the Kupol Project area from approximately 17.5 square kilometers to an
approximate combined 425.5 square kilometers. Furthermore, additional
high-grade drill results have been received from the recently discovered 650
zone located south-east of the main Kupol vein.
Kupol West and Kupol East Licenses
The Kupol West and East licenses were awarded to CMGC which is 75% owned by Bema
and 25% owned by the government of Chukotka, through an auction and tender by
the Russian Federal Agency for Management of Mineral Resources (Rosnedra).
The Kupol West license surrounds the original Kupol project area and represents
an expansion of the existing property from approximately 17.5 square kilometers
to an approximate 231.5 square kilometers. The new license area also covers the
potential northern and southern extensions of the main Kupol vein. Previous
Russian surface exploration sampling had identified four gold/silver prospects
in the area covered by the license.
The Kupol East license is situated 3.5 kilometers to the east of the Kupol West
boundary and covers an additional area of 194 square kilometers. Previous
Russian exploration work has identified two gold/silver prospects. Bema intends
to commence extensive exploration programs on the Kupol West and East licenses
in 2007 consisting of mapping, surface sampling, geophysics, trenching and
diamond drilling. Please refer to Bema's website (www.bema.com) for a map
outlining the location of the two new licenses.
650 Zone Drill Results
An additional 17 holes, totaling 4,672.2 metres, have been drilled on the 650
zone since its discovery. The 650 zone has now been traced through drilling
over a strike length of 775 metres and down dip for approximately 200 metres.
Continuous high grade mineralization has been traced over 625 metres and appears
to occur principally within a 100 to 125 metres elevation range, starting
approximately 75 to 100 metres below surface. The zone remains open along
strike to the north and south. Several parallel to sub-parallel veins are
present in the 650 zone, with dips ranging from 70 degrees to vertical.
Significant new high grade intersections include 8.40 metres grading 24.06 grams
per tonne ("g/t") gold and 453.01 g/t silver in hole KP06-703, 4.80 metres
grading 40.81 g/t gold and 375.50 g/t silver in hole KP06-709, and 7.80 metres
grading 20.02 g/t gold and 1,539.72 g/t silver in hole KP06-712. Drilling is
ongoing with two rigs continuing to work on the 650 zone and the adjacent South
East Breccia zone to test the limits of these zones and provide limited infill
drilling, so that an initial resource estimate can be calculated. For detailed
information on the 650 and South East Breccia zones and previous drill results,
please refer to the Bema press release dated August 14, 2006. Significant
results from the new holes are presented in the table below:
Hole # From To Length* Gold Silver
(m) (m) (m) (g/t) (g/t)
KP06-697 215.80 216.80 1.00 11.06 110.00
And. 237.20 239.30 2.10 10.83 18.80
KP06-700 218.80 222.30 3.50 25.42 353.80
Incl. 220.40 221.40 1.00 78.28 1,194.90
KP06-703 184.50 192.90 8.40 24.06 453.01
Incl. 184.50 185.50 1.00 85.40 2,162.50
Incl. 187.50 189.50 2.00 13.39 30.60
Incl. 190.50 192.40 1.90 37.48 631.60
KP06-704 184.90 194.20 9.30 10.54 203.34
Incl. 191.30 194.20 2.90 16.68 206.01
And 196.10 198.00 1.90 137.46 938.92
And 201.00 201.70 0.70 12.66 63.26
KP06-705 204.10 214.60 10.50 4.95 25.27
Incl. 212.00 213.00 1.00 10.02 40.86
And 215.50 217.80 2.30 10.38 18.71
KP06-706 97.70 101.00 3.30 10.75 135.44
Incl. 100.00 101.00 1.00 18.84 78.42
KP06-708 112.00 115.40 3.40 13.99 334.73
Incl. 113.00 114.60 1.60 23.81 667.77
And 117.00 118.40 1.40 8.79 161.45
KP06-709 238.50 243.30 4.80 40.81 375.50
Incl. 238.50 242.00 3.50 53.43 460.40
KP06-712 205.10 212.90 7.80 20.02 1,539.72
Incl. 205.10 209.75 4.65 24.98 1,691.89
Incl. 210.85 212.90 2.05 16.06 1,859.93
And 215.90 222.00 6.10 6.86 111.43
KP06-713 144.40 147.20 2.80 8.82 120.10
Incl. 144.40 145.00 0.60 21.06 268.42
* True widths cannot be estimated until additional detailed drilling is complete.
Development and construction of the Kupol Mine continues to progress on
schedule. The state of the art 600 man camp was recently commissioned and the
main structure of the mill building as well as the airstrip are almost complete.
Both open pit and underground mine development is progressing well and the
procurement and shipping of materials for the 2007 program is underway. The
Kupol Mine is on schedule to begin production in mid 2008.
All results contained in this news release have been validated by a Quality
Control Program ("QC"), which has been designed in concert with an independent
consultant to meet or exceed the requirements of NI 43-101. This QC program
includes the use of certified standard reference samples, coarse field blank
material and duplicate sampling as described at length in earlier news releases
and in the technical reports for the Kupol project dated April 4, 2005 and July
5, 2005. Tom Garagan, Vice President of Exploration for Bema Gold Corporation,
is the Qualified Person for this exploration project.
On Behalf Of Bema Gold Corporation
"Clive Johnson"
Chairman, CEO, President
For more information please visit our website at www.bema.com or to speak to a
Company representative please contact:
Ian MacLean, Kerry Suffolk
Vice President, Investor Relations Manager,Investor Relations
604-681-8371, investor@bemagold.com 604-681-8371, investor@bemagold.com
Some of the statements contained in this release are "forward-looking
statements" within the meaning of Canadian Securities law requirements and
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that
may cause our actual results, performance or achievements to differ materially
from the anticipated results, performance or achievements expressed or implied
by such forward-looking statements. Forward-looking statements in this release
include statements regarding: the Company's projections regarding mineral
resource and reserve estimates in future periods. Factors that could cause
actual results to differ materially from anticipated results include risks and
uncertainties such as: risks relating to estimates of reserves, mineral deposits
and production costs; mining and development risks; the risk of commodity price
fluctuations; political and regulatory risks; risks of obtaining required
operating permits and other risks and uncertainties detailed in the Company's
Form 40-F Annual Report for the year ended December 31, 2005, which has been
filed with the Securities and Exchange Commission, and the Company's Annual
Information Form for the year ended December 31, 2005, which is available under
the Company's name at www.sedar.com. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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