Vancouver, British Columbia – February 22, 2023 (Newsfile Corp.) (Investorideas.com Newswire) Bear Creek Mining Company (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) (“Bear Creek” or the “Firm”) is happy to announce the outcomes of latest drilling from the Marianas and Rey de Oro deposits on the Mercedes gold mine in Sonora, Mexico. The outcomes highlighted beneath show the continuation of gold and silver mineralization at each Marianas and Rey de Oro outdoors of the presently estimated mineral sources and mineral reserves and supply the idea for an expanded exploration program in 2023. Importantly, a lot of this drilling has returned intercepts with gold grades which might be a number of occasions the present head grades being mined at Mercedes.
The Marianas and GAP drilling signify step-outs from the present underground mining operations alongside the primary Mercedes vein zone. The Rey de Oro drilling represents extensions downdip and alongside strike of the present reserves and underground operations. See Figures 1 & 2 beneath.
The Marianas and Rey de Oro definition drill program returned different low- and medium-grade mineralized intercepts which, whereas not presently materials, set up the areas of mineralized constructions which might be in lots of circumstances proximal to recognized mineralized our bodies and as such signify excessive precedence targets for observe up. See https://bearcreekmining.com/site/assets/files/4544/2023-02-22_full_results_table.pdf for a desk of full outcomes.
“Mercedes as soon as once more delivers on our expectations and we proceed to be very assured within the long-term potential for this operation,” states Andrew Swarthout, Director of Bear Creek Mining and the Firm’s Certified Particular person (see NI 43-101 Disclosure, beneath). He continues, “Our success in intersecting excessive grade gold mineralization on strike and down dip of established mineral sources and mineral reserves at each Marianas and Rey de Oro has thrilling implications for the Mercedes district and the potential for extending the mine life for years to come back. We sit up for unlocking the financial potential of latest drill outcomes at Marianas which embrace excessive gold grades over mineable widths proximal to current workings.”
2023 Drilling Program
Based mostly on the outcomes generated since buying the Mercedes mine in April 2022 Bear Creek sees great exploration, delineation and resource-conversion potential at Mercedes. The Firm has allotted US $4.4 million to drilling targets on the mine in 2023 to construct on this exploration success and our evolving view of the mineral controls within the district. Plans name for roughly 33,000 meters of floor and underground drilling within the following goal classes listed so as of greatest likelihood for near-term impacts (see Determine 3 for deposit areas).
Extension and definition drilling – 14,200 meters in 65 drill holes specializing in enlargement of mineral sources, and conversion of mineral sources to mineral reserves. Precept targets for this program are the Marianas Rey de Oro, Diluvio and GAP deposits. Extra underground drill stations at Marianas will present platforms from which to drill no less than thirty drill holes collared from positions that present glorious drill angles to newly found high-grade mineralized constructions. Drilling at Rey de Oro will check down-plunge of the mineralized hall from underground drill stations with no less than 15 drillholes deliberate. Drilling on the Diluvio deposit will outline the borders of present sources and check the potential of secondary veins. The GAP holes might be drilled from an underground platform to observe up on previous floor drilling outcomes. The extension and definition drilling campaigns are anticipated to have essentially the most speedy and constructive influence on mining operations.
Brownfield targets – 11,500 meters in 17 drill holes designed to determine new sources in structurally offset targets close to present working zones. Main targets embrace Marianas Deep, San Martin and Klondike Displacements, Neo, and Diluvio North. The brownfields targets present excellent potential for medium-term influence owing to the recognized presence of mineralization and their location proximal to current workings.
Greenfield targets – 7,000 meters in 12 drill holes exploring the projections of two necessary extremely mineralized tendencies within the Mercedes district;
- the Margarita East structural zone that extends as much as 4 kilometers east from the Diluvio – Lupita space, the place 2022 drilling recognized a blind goal throughout the shallowly dipping Lupita fault.
- the northwest projection of the Mercedes structural development from Marianas to the concession boundary. The potential for continuation of mineralization on this prolific construction is supported by the outcomes of restricted prior floor drilling beneath the submit mineral cowl and recognized mineral occurrences on development however outdoors of the Mercedes concession.
The greenfield targets are supported by the presence of structural and alteration indicators in previous drilling which might be typical of mineralized zones elsewhere within the Mercedes district. These indicators are necessary as a result of a majority of the deposits found at Mercedes in recent times, together with Lupita and Diluvio, have been blind targets.
The essential function of low angle, listric/detachment faulting on mineralization at Mercedes has grow to be more and more evident and offers a brand new exploration perspective. These mineralized low angle constructions, coupled with the near-vertical veins that dominate the district, enable for broader structural preparation and bulkier ore our bodies. These potential constructions grow to be extra prevalent approaching areas of post-mineral cowl and level to the potential for extra blind discoveries.
Shares for Providers
Topic to TSX Enterprise Change approval, Bear Creek will difficulty 176,827 widespread shares at a deemed worth of CAD $0.80 per share to Unison Mining Consulting Pte. Ltd. (“Unison”) for work on the Mercedes Gold Mine working enchancment program accomplished as of January 27, 2023. Following this share issuance, no additional shares for providers might be issued to Unison in respect of the Mercedes enchancment program, which is now accomplished. Particulars relating to the development program and the phrases of the Unison engagement settlement are offered within the Firm’s information launch dated September 6, 2022.
On behalf of the Board of Administrators,
Chief Govt Officer
For additional info contact:
Barbara Henderson – VP Company Communications
NI 43-101 Disclosure
The scientific and technical info offered on this information launch is predicated on work applications and initiatives carried out beneath the supervision of, and has been reviewed and authorised by, Andrew Swarthout, AIPG Licensed Skilled Geologist, a director of the Firm who’s a Certified Particular person (“QP”) as outlined in NI 43-101.
All Bear Creek pattern and assay outcomes are independently monitored by a high quality management / high quality assurance (“QA/QC”) program that features the insertion of a minimal of the next for every assay batch of roughly 84 samples: two licensed requirements, one licensed effective clean, one coarse clean and pulp and reject duplicate samples. Logging and sampling on the Mercedes Mine are accomplished at a safe onsite facility. Drill core is sawn in half on web site and half drill-core samples are securely transported to ALS Chemex pattern preparation services in Hermosillo, Mexico. Pattern pulps are despatched to ALS Chemex lab in Vancouver, British Columbia for evaluation. Gold content material is decided by fireplace assay of a 30-gram cost and silver content material is decided by 4 acid digestion, pattern preparation and assay labs are impartial from Bear Creek. Bear Creek isn’t conscious of any drilling, sampling, restoration, or different components that would materially have an effect on the accuracy or reliability of the information referred to herein.
Cautionary Assertion Concerning Ahead-Trying Info
This information launch incorporates forward-looking statements relating to: the prioritization of targets for follow-up drilling; the potential to broaden the Mercedes mineral sources, mineral reserves and mine life; the quantity, distribution and whole meterage of deliberate drilling at Mercedes throughout 2023; the projected 2023 drill marketing campaign funds; and the potential continuation of mineralization at recognized deposits and tendencies throughout the Mercedes concessions. These forward-looking statements are offered as of the date of this information launch and replicate predictions, expectations or beliefs relating to future occasions primarily based on the Firm’s expectations on the time the statements have been made, in addition to numerous assumptions made by and knowledge presently out there to them. In making the forward-looking statements included on this information launch, the Firm has utilized a number of materials assumptions, together with, however not restricted to the assumptions: that the placement, scope and value of the Firm’s deliberate 2023 drilling is not going to differ materially from expectations. Though administration considers these assumptions to be affordable primarily based on info out there to it, they might show to be incorrect. By their very nature, forward-looking statements contain inherent dangers and uncertainties, each normal and particular, and the danger exists that estimates, forecasts, projections, and different forward-looking statements is not going to be achieved or that assumptions on which they’re primarily based don’t replicate future expertise. We warning readers to not place undue reliance on these forward-looking statements as numerous necessary components might trigger the precise outcomes to vary materially from the expectations expressed in them. These threat components could also be typically acknowledged as the danger that the assumptions expressed above don’t happen, however might embrace further dangers as described within the Firm’s newest Annual Info Kind, and different disclosure paperwork filed by the Firm on SEDAR. The foregoing listing of things which will have an effect on future outcomes isn’t exhaustive. Buyers and others ought to rigorously think about the foregoing components and different uncertainties and potential occasions. The Firm doesn’t undertake to replace any forward-looking assertion, whether or not written or oral, which may be made now and again by the Firm or on behalf of the Firm, besides as required by regulation.
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
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