RNS Number:9944Q
Bema Gold Corporation
16 October 2003
News Release
More High Grade Drill Results from the Kupol Property, Russia
October 16, 2003 FOR IMMEDIATE RELEASE
Bema Gold Corporation ("Bema") announces additional high-grade drill results
from the Kupol Property in Chukotka, Far East Russia. A total of 162 holes
(including redrills) totaling 21,860 metres, have been drilled to date. The
Kupol mineralized epithermal vein system has now been traced for 3.5 kilometres
of strike length. Significant gold mineralization has been intercepted over 3.1
kilometres of drilled strike length and to a depth of at least 300 metres (with
a vertical extent of at least 400 metres). The system remains open along strike
and to depth. Please refer to www.bema.com for an updated drill hole location
map and a long section of the Kupol property.
Assay results have now been received for 151 drill holes (116 of which were
previously released). The results from holes 117 to 151 continue to confirm
grade continuity and extend mineralization in the four contiguous zones; the Big
Bend Zone, the Central Zone, the North Zone and the South Zone. In addition
these results indicate that the North Zone continues underneath the clay
alteration north of the fault and remains open to the north and at depth.
Detailed assay results from the new holes are summarized by zone below. Drill
hole locations, a summary of Bema's lab procedures and QAQC (Quality Assurance
Quality Control) are on the last page.
Big Bend Zone
Eleven additional holes were drilled in the Big Bend Zone which is located at a
flexure in the main structure and hosts some of the most significant
intersections to date. Recent drilling focused on the geostat cross and depth
continuity. Holes 108, 118 and 143 indicate mineralization remains open at
depth, in addition hole 143 intercepted four separate high grade veins. Holes
135, 136, and 138 in the geostat cross indicate good short range grade
continuity. The zone remains as a single wide high grade ore shoot which now
extends over at least 650 metres of strike length and to a depth of at least 250
metres. Assay results from all the new holes drilled on the Big Bend Zone are
listed below.
BIG BEND FROM TO LENGTH GOLD g/ SILVER g/ COMMENTS
HOLE # (metres) (metres) (metres) t t
KP03-118 228.00 231.50 3.50 10.11 134.45
KP03-121 41.10 44.10 3.00 112.91 845.69
KP03-123 78.62 83.80 5.18 44.86 1228.60
KP03-135 20.13 28.86 8.73 72.26 861.20 Geostat cross*
KP03-136 24.60 33.05 8.45 45.07 478.74 Geostat cross*
KP03-138 34.95 43.65 8.70 88.56 480.91 Geostat cross*
KP03-141 41.90 42.70 0.80 13.74 297.40
KP03-143 205.00 212.60 7.60 20.68 420.94
And 216.10 225.70 9.60 35.36 865.51
And 249.40 257.60 8.20 9.30 111.14
And 261.10 263.40 2.30 21.00 27.34
KP03-147 57.00 58.60 1.60 33.44 228.67
And 92.00 93.2 1.2 5.77 80.05
KP03-150 NSV**
KP03-151 70.00 72.00 2.00 3.87 25.78 Geostat cross*
And 92.65 107.5 14.85 33.78 270.50
Including 94.65 101 6.35 61.93 519.96
*Drilled at 25 metre centres.
** No significant values
Central Zone
Six additional holes were drilled in the Central Zone. Hole 122 (48.87 g/t gold,
526.36 g/t silver over 10.45 metres has helped define a high grade ore shoot in
the centre of the Central Zone of 100 metres long and approximately 150 metres
deep.
CENTRAL ZONE FROM TO LENGTH GOLD g/ SILVER g/ COMMENTS
HOLE # (metres) (metres) (metres) t t
KP03-85A dyked out
KP03-122 39.35 49.80 10.45 48.87 526.36
KP03-126 40.35 42.40 2.05 5.03 39.82
KP03-129 NSV
KP03-131 259.00 270.45 11.45 10.03 226.38
KP03-140 153.60 154.10 0.50 14.34 141.90 dyked out
North Zone
The North Zone extends at least 350 metres north of, and is contiguous to, the
Central Zone. The previously discovered high grade zone has been extended to a
depth of at least 250 metres in holes 48A with 14.98 g/t gold and 74.77 g/t
silver over 6.3 metres and hole 133 with 70.54 g/t gold and 709.15 g/t silver
over 11.95 metres. In addition, hole 90A which was a re-drill of hole 90,
contained 19.22 g/t gold and 262.16 g/t silver over 26.70 metres. This was
nearly double the grade found in hole 90 due to the washing out of the intensely
mineralized portion in hole 90. The same washing has occurred in hole 144 in the
Northern Extension.
Assay results from all of recent holes drilled in the North Zone are as follows:
NORTH ZONE FROM TO LENGTH GOLD g/ SILVER g/ COMMENTS
HOLE # (metres) (metres) (metres) t t
KP03-48A 207.70 214.00 6.30 14.98 74.77 Re-drilled 48
KP03-90A 73.00 99.70 26.70 19.22 262.18 Re-drilled 90
Includes 76.20 82.00 5.80 34.80 286.56
KP03-133 184.00 189.00 5.00 8.01 110.76
And 293.35 305.30 11.95 70.54 709.15
KP03-149 Abandoned
North Extension Zone
Drill holes 128, 134 and 144 were drilled north of the fault under the clay
alteration found in holes 94, 98, 105, 109 and 119. All 3 holes intersected
significant gold mineralization and veining similar to the North Zone. The North
Zone Extension is now believed to be the down faulted extension of the North
Zone, indicating the North Zone now has a strike length of at least 600 metres.
Mineralization remains open at depth and to the north.
NORTH
EXTENSION TO FROM LENGTH GOLD SILVER COMMENTS
HOLE # (metres) (metres) (metres) g/t g/t
KP03-119 NSV
KP03-128 175.30 207.65 32.35 12.33 101.83
Includes 175.30 182.75 7.45 23.92 228.63
and Includes 185.50 188.25 2.75 33.31 232.25
KP03-134 330.75 334.35 3.60 20.47 55.37
KP03-144 302.80 314.50 11.70 11.89 110.08 Very poor core
recovery
South Zone
The South Zone extends for at least 600 metres to the south of the Big Bend
Zone. Several holes were drilled to target additional ore shoots. A ore shoot
was intersected in hole 130 which contained 27.88 g/t gold and 306.60 g/t silver
over 5.3 metres. Several other ore shoots have been intersected this season and
will be followed up in 2004.
Assay results from all the recent holes drilled in the South Zone and South
Extension Zones are as follows.
SOUTH FROM TO LENGTH GOLD g/ SILVER g/ COMMENTS
ZONE
HOLE # (metres) (metres) (metres) t t
KP03-124
Includes 50.00 51.00 1.00 12.96 237.88
KP03-127
Includes 86.70 92.00 5.30 16.92 209.57
KP03-130 62.20 67.50 5.30 27.88 306.60
KP03-132 NSV
KP03-137 17.70 18.30 0.60 20.28 39.02
And 54.80 55.50 0.70 15.78 47.24
And 59.70 60.50 0.80 10.49 225.47
KP03-142 65.50 65.80 0.30 4.86 65.42 dyked out
KP03-146 19.40 20.70 1.30 3.03 26.64
And 23.5 26.75 3.25 55.49 117.58
South Extension
Six new holes have been drilled in the South Extension. Hole 120 and 145
indicate mineralization similar to the South Zone in narrower intervals
occurring in the South Extension Zone.
HOLE # TO FROM LENGTH GOLD SILVER COMMENTS
(metres) (metres) (metres) g/t g/t
KP03-117 113.20 113.80 0.60 6.94 31.84
KP03-120 189.10 191.00 1.90 27.51 201.98
KP03-125 NSV
KP03-139 NSV hole
abandoned
KP03-145 38.35 39.50 1.15 103.71 1011.60
And 53.40 56.40 3.00 34.00 229.37
KP03-148 16.40 16.65 0.25 64.00 115.54
The two Canadian drills have been shut down for the season. The two Russian
drills are currently working on condemnation drilling and the testing of
additional vein zones. Bema intends to complete a geological resource estimate
from drilling completed in 2003 by year end and a pre-feasibility study by April
30, 2004.
In addition to drilling, Bema has conducted a surface sampling program on the
Kupol Property which has now identified, by float mapping, at least four new
parallel vein structures. Grab samples contain up to 205 g/t gold in one float
train located 500 meters east of the Kupol structure. These targets will be
explored by trenching and drilling in 2004.
In conjunction with the extensive exploration work at Kupol in 2003, Bema
conducted environmental baseline studies, collected metallurgical composite
samples, and conducted water well drilling.
Based on the excellent exploration results to date, Bema intends to fast track
the development of the Kupol Property. The Company is currently procuring
equipment and supplies to be shipped to site for accelerated exploration and
development work to be conducted in 2004. The equipment includes three
additional drill rigs, earth moving equipment and additional camp facilities to
increase the man camp capacity from 60 to 200 personnel.
The planned exploration and development program at Kupol in 2004 will include
approximately 55,000 metres of drilling, to further explore the property and
conduct infill drilling. The program will also include construction of a runway
for fixed wing aircraft, earth works for mine and mill facilities, geotechnical
and condemnation drill programs, final metallurgical test work, and procurement
of equipment for 2005 construction.
The Kupol Project is a joint venture between Bema and the government of
Chukotka. Bema has the option to purchase a 75% interest in the property from
the government.
On behalf of BEMA GOLD CORPORATION
"Clive T. Johnson"
Chairman, C.E.O., & President
For more information on Bema Gold please contact Investor Relations at (604)
681-8371 or toll-free 1-800-316-8855 or alternatively contact our web-site at
www.bema.com.
The following table shows the location of the drill holes:
HOLE-ID LOCATION X LOCATION Y LOCATION Z LENGTH SECTION AZIMUTH DIP
KP03-048A 29,436,447.10 7,413,000.40 609.65 331.01 3000N 270 -65
KP03-085A 29,436,429.75 7,412,345.46 655.3 111.56 2350N 270 -55
KP03-090A 29,436,342.20 7,412,950.27 620.73 126.8 2950N 270 -70
KP03-117 29,436,049.57 7,410,450.75 553.12 150 450N 270 -55
KP03-118 29,436,468.85 7,411,648.84 611.63 260.91 1650N 270 -58
KP03-119 29,436,380.83 7,413,427.86 559.25 103 3425N 90 -55
KP03-120 29,436,079.64 7,410,550.02 560.7 220.2 550N 270 -55
KP03-121 29,436,338.24 7,411,561.96 588.79 80.47 1550N 252 -47
KP03-122 29,436,387.86 7,412,650.07 648.28 85.8 2650N 270 -55
KP03-123 29,436,366.26 7,411,557.04 588.05 129.24 1550N 270 -62
KP03-124 29,436,293.34 7,411,452.53 577.47 84.12 1450N 270 -55
KP03-125 29,436,120.46 7,410,841.01 553.06 165.4 850N 277 -55
KP03-126 29,436,390.38 7,412,450.46 659.19 55 2450N 270 -55
KP03-127 29,436,322.92 7,411,452.06 575.16 125.58 1450N 270 -55
KP03-128 29,436,495.98 7,413,199.55 583.38 256.64 3200N 270 -55
KP03-129 29,436,491.45 7,412,177.19 654.2 212.75 2175N 270 -55
KP03-130 29,436,289.11 7,411,250.72 552.11 112.5 1250N 270 -55
KP03-131 29,436,539.14 7,412,176.55 650.51 300.23 2175N 270 -65
KP03-132 29,436,155.53 7,410,898.39 544.07 199.5 900N 270 -55
KP03-133 29,436,490.93 7,413,099.04 599.87 343.2 3100N 270 -67
KP03-134 29,436,540.76 7,413,422.85 556.28 348.4 3425N 270 -60
KP03-135 29,436,359.52 7,411,703.17 613.57 44.5 1700N 270 -43
KP03-136 29,436,362.19 7,411,723.38 618.26 50.6 1725N 270 -53.5
KP03-137 29,436,210.85 7,411,249.82 566.65 102.8 1250N 270 -55
KP03-138 29,436,374.12 7,411,771.85 629.59 59.75 1775N 270 -53.5
KP03-139 29,435,909.11 7,410,595.51 557.95 150.6 600N 90 -45
KP03-140 29,436,293.35 7,412,099.15 661.81 203 2100N 90 -55
KP03-141 29,436,414.97 7,411,901.87 649.2 85.34 1900N 270 -55
KP03-142 29,436,246.61 7,411,213.21 548.6 77.4 1212.5N 270 -55
KP03-143 29,436,486.52 7,411,797.61 637.25 281.94 1800N 270 -65
KP03-144 29,436,526.30 7,413,299.38 570.55 340.46 3300N 270 -65
KP03-145 29,436,013.27 7,410,612.51 572.55 79 600N 270 -55
KP03-146 29,436,166.00 7,411,142.00 542.9 50 1150N 270 -55
KP03-147 29,436,425.61 7,411,874.84 647.97 101.8 1875N 270 -55
KP03-148 29,435,979.58 7,410,278.60 533.9 50 275N 90 -55
KP03-149 29,436,590.00 7,413,100.00 601.2 3.05 3100N 270 -65
KP03-150 29,436,395.90 7,411,824.34 639.96 78.03 1825N 270 -54
KP03-151 29,436,417.39 7,411,800.33 635.41 120.7 1800N 270 -60.5
Bema has installed an on site preparation and fire assay laboratory due to the
project's remote location. The lab is managed by an experienced Russian fire
assayer and overseen by an independent consultant. Bema has also retained Smee
and Associates Consulting Ltd. to ensure the lab is operated to the level of
North American standards and that a comprehensive quality control program is run
by the lab. The Kupol lab is operated as an independent lab and no Bema
personnel are permitted unsupervised access. Drill samples have been prepped on
site under the supervision of the independent North American consultant and
reviewed on site by Barry Smee who visited the site during lab start-up. Samples
are crushed in two passes within a jaw crusher to 80 % passing 2 mm.
Approximately 800 grams are split off the coarse crush and pulverized to 95 %
passing 150 mesh. A 200 gram pulverized sample is split and packaged for the
analytical lab.
All results released in this news release have been validated by our Quality
Control Program (QC) which has been designed in concert with Smee and Associates
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. Tom Garagan, Vice President of Exploration, is the Qualified
Person for this exploration project.
The Toronto Stock Exchange neither approves nor disapproves the information
contained in this News Release. Bema Gold Corporation trades on The Toronto and
American stock exchanges. Symbol: BGO.
Some of the statements contained in this release are forward-looking statements,
such as estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Since forward-looking
statements address future events and conditions, by their very nature, they
involve inherent risks and uncertainties. Actual results in each case could
differ materially from those currently anticipated in such statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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