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Thursday, September 19 2019 @ 02:51 am EDT

Bellhaven Ventures Reports High-Grade Gold Mineralization on its Pitaloza Concession, Panama

Money Matters PANAMA CITY, PANAMA--(CCNMatthews - Feb. 22, 2006) - Bellhaven Ventures Inc. (TSX VENTURE:BHV - News) is pleased to report on the results of continuing fieldwork on its Pitaloza concession on the Azuero Peninsula of Panama. Analytical results, performed by ACME Labs using standard assay procedures (30 gram sample, fire assay preparation, ICP-MS finish), are in for a total of 362 two-meter channel samples collected from four trenches in the Bejucosa target area, Pitaloza concession, Azuero Project, Panama. This news release includes and expands upon results reported for Trench 1 in a news release dated December 1, 2005.

Editor's Comments: There are a handful of Canadian gold mining companies that had held mining options in Panama for years that they have never used or exercised. Lately there has been a burst of reports and indicating that these companies (so far Bellhaven and Petaquilla) now want to exercise their options and begin actively mining. Want to know why? Check out the 10-year gold chart below. Low concentration deposits that were not profitable a few years ago have become more attractive due to the recent price hikes in gold. Keep your eyes open, there will be more of these. Watch for the environmental angle, because these will be open strip mines in remote areas. So far, no one has ANAM permission, but they are working on it.




http://www.bellhaven-ventures.com/s/Home.asp

Trenches at Bejucosa expose a package of variably silicified, oxidized, and mineralized dacitic volcanic rocks and are located one kilometer southeast of the area drill tested by Cyprus in 1994. Analytical results for gold are summarized in the table below. The trenches are oriented north-south and were cut at 150 meter intervals across an east-west striking gold-in-soil anomaly. Trenches are numbered from west (trench 1) to east (trench 4).


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Trench Total length Mineralized interval
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1 156 meters 52 meters of 2.3 g/t gold
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2 154 meters 16 meters of 1.8 g/t gold
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8 meters of 0.7 g/t gold
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3 238 meters 40 meters of 0.4 g/t gold
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2 meters of 4.4 g/t gold
---------------------------------------------------------------
12 meters of 8.9 g/t gold including
4 meters of 25.0 g/t gold
------------------------------------------------------------------------------------------------------------------------------
4 176 meters 34 meters of 0.6 g/t gold
---------------------------------------------------------------
Plans are to continue to trace the prospective dacitic volcanic rock package across the Pitaloza concession and westwards onto adjacent Bellhaven concession applications (San Sebastian, Santa Clara, and Juncal). Currently, Bellhaven has a total of 33 square kilometers under concession and 332 square kilometers under application on the Azuero Peninsula. Two field teams are actively exploring this concession package for new areas of mineralization.

Carl Nelson, president of Bellhaven, commented as follows, "We are pleased to see such positive gold results from our recently-discovered Bejucosa target area and look forward to tracing the prospective dacitic volcanic rock package across Bellhaven's 365 square kilometer concession block."

Peter Folk, P. Eng., is the Independent Qualified Person as defined by National Instrument 43-101 responsible for ensuring that the geological information in this release is accurate.

Bellhaven Ventures (BHV) is a Vancouver-based mineral exploration company with a portfolio of gold and copper properties in the Republic of Panama. For more information, please visit the website at www.bellhaven-ventures.com.

On behalf of the board of directors,

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 the contents herein.



Contact:
Carl Nelson
Bellhaven Ventures Inc.
President, CEO
(507) 226-3967
(507) 226-1091 (FAX)
www.bellhaven-ventures.com


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Source: Bellhaven Ventures Inc.

http://biz.yahoo.com/ccn/060222/200602220312118001.html?.v=1
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