Bear Lake Gold Intersects High-Grade Gold Values on its Bear Lake Gold Zone at Larder Lake, Ontario
Hole #58W2 intersected 3.9 meters grading 20.4 g/t Au, including 66.2 g/t gold over 1.1 meters
LONGUEUIL, QUEBEC--(Marketwire - April 30, 2009) - Bear Lake Gold Ltd. ("Bear Lake Gold" or the "Company") (TSX VENTURE:BLG) is pleased to report new results from the follow-up and infill drilling program on its 100% owned Bear Lake gold zone of the Larder Lake Project located in north eastern Ontario. Hole #58W2 intersected, at a vertical depth of 1,000 meters, a 3.9 meter section of carbonate-type mineralization grading 20.4 g/t gold, including 1.1 meters which assayed 66.2 g/t gold.
Hole #58W2 was drilled as part of the program to wedge and deepen holes previously stopped due to broken ground associated with a fault zone located about half way between the carbonate and flow-type mineralized zones that make up the Bear Lake gold deposits. This hole successfully crossed the broken ground area but intersected another fault zone at the contact between hangingwall ultramafics and footwall sediments without encountering flow-type mineralization, which is believed to have been faulted-off. However, wedging of hole #58 resulted in re-drilling the highly anomalous gold intercept of 82.1 meter grading 0.8 g/t gold cut in the original hole (previously reported in Nov 27, 2008 press release). At a depth of 1,000 meters, and a few meters away from hole #58, hole #58W2 cut a 3.9 meter long section grading 20.4 g/t gold (including 1.1 meters which assayed 66.2 g/t gold), strengthening the Company's interpretation that gold mineralizing fluids are locally concentrated into much higher grade shoots within broad zones of alteration.
Link to flow-type mineralization diagram.
http://www.bearlakegold.com/i/pdf/...-09-Long-Bear-Lake-Flow-type.pdf
Link to carb-type mineralization diagram.
http://www.bearlakegold.com/i/pdf/...ong-Bear-Lake-Carbonate-type.pdf
Based on drilling completed to date, a large gold mineralized system has been identified at Bear Lake, starting at approximately 400 meters below surface and extending down to depths exceeding 1,500 meters. Both high-grade and low-grade mineralized shoots, similar to the ore zone setting at the former Kerr Addison Mine located 5 km to the east, occur at Bear Lake and tighter drilling is necessary to establish the full extent of the high-grade gold shoots within this very extensive gold mineralized envelope.
Link to complete assay results to date from the Bear Lake Area as at April 29, 2009.
http://www.bearlakegold.com/i/pdf/04-29-09-tableau.pdf
At Barber Larder, located some 2km east of Bear Lake, three holes (#60, 61 and 62) investigated the Barber Larder zone at vertical depths of 450 to 650 meters. Alteration was encountered in every hole but no significant gold value was intersected. Evaluation of the results is in progress.
Project Update
Three drill rigs are currently working at Larder Lake and the focus is essentially on the infill drilling of the higher-grade portion of the Bear Lake zone between depths of 400 to 800 meters. Since drilling started in March 2007, more than 47,000 meters of diamond drilling have been completed at Larder Lake.
Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) has been selected to assist Bear Lake Gold in the evaluation of the Bear Lake zone. Scott Wilson will prepare an initial resource estimate and complete a NI 43-101 compliant report on the Bear Lake zone during the summer. Scott Wilson RPA is a highly regarded company with over 23 years of experience in geological and mining consulting.
Quality Assurance and Control
As part of its QA/QC program, Bear Lake Gold carried out check assays on the high-grade intersections, with no significant discrepancies found in the assay results. The assays reported are the uncut average grades of all determinations from the same samples. The analytical method for gold is one (1) assay-ton fire assay, with gravimetric finish on all samples. All assays reporting over 2 g/t gold are automatically re-checked using the rejects. Assaying is done at Polymet Labs in Cobalt, Ontario. The quality control process includes inserting blank samples and certified standards within each batch sent to the laboratory.
Qualified Person
The technical content of the information contained in this news release was reviewed and approved by Mr. Bernard Boily, P. Geo., and Bear Lake Gold's Vice President of Exploration. He is responsible for supervising the drilling program and is a qualified person under National Instrument 43-101.
Forward-looking Statements
This news release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Bear Lake Gold believes, expects or anticipates will or may occur in the future, are forward-looking information. This forward-looking information reflects the current internal projections, expectations or beliefs of management of Bear Lake Gold, based on information currently available to them. Forward looking information in this news release includes statements regarding the nature of mineralization at Larder Lake, the expected results of drilling on the project and the plan to define a NI43-101 resource at Larder Lake. Forward-looking information is based on assumptions and subject to a number of known and unknown risks and uncertainties beyond Bear Lake Gold's control, including uncertainties related to the outcome of the Company's current drill program and other risks involved in the gold exploration and development industry, as well as those risk factors identified in the Company's most recent Management Discussion and Analysis filed on SEDAR. There can be no assurance that the beliefs and assumptions underlying the forward looking information will prove to be accurate, and actual results could differ materially from those suggested by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Bear Lake Gold undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.
Additional information about the Company is available through regular filings and press releases on SEDAR and on the Company's website.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." -----------
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