RNS Number:2513D
Bema Gold Corporation
23 September 2004
News Release
Kupol Project Update
Exploration and Feasibility Drill Results
Vancouver, September 23, 2004 - Bema Gold Corporation (TSX / AMEX: BGO, AIM:
BAU) is pleased to announce further drilling results from the 2004 Kupol Project
exploration and feasibility drilling program.
The highlights of the recent drilling program are: the extension of high grade
mineralization 250 metres to the North at depth; the discovery of a new wide
high grade vein in the recently discovered multiple veins in the North Zone; the
discovery of a new high grade sub parallel or offset vein in the South; the
discovery of a new high grade ore shoot in the Central Zone; and ongoing detail
drilling in the Big Bend Zone continues to demonstrate strong continuity of the
high grade zone.
North Zone
A total of 38 holes totalling 13,800 metres have been completed in the North
Zone. Exploration drilling in the North Zone has extended high grade
mineralization a further 250 metres to the North at depth. (holes 333 and 361
see table) Infill drill hole 267 discovered a new wide high grade vein with an
approximate true width of 20 metres vein averaging 31.3 g/t gold and 330.3 g/t
silver. In addition, a number of holes (holes 268, 281, and 286 listed below)
intersected multiple veins including the new wide vein.
Selected drill results are as follows:
North and N.Ext FROM TO LENGTH GOLD SILVER
---------- -------- -------- -------- -------- --------
Hole # (metres) (metres) (metres) (g/t) (g/t)
---------- -------- -------- -------- -------- --------
KP04-267 139.00 169.50 30.50 31.3 330.3
Plus 206.60 211.30 4.70 14.7 88.7
KP04-268 135.60 148.50 12.90 8.5 57.8
Plus 167.00 173.40 6.40 6.4 131.4
Plus 185.25 188.10 2.85 28.1 856.2
KP04-280 115.20 130.40 15.20 30.3 281.5
Plus 231.00 234.00 3.00 10.3 84.7
KP04-281 166.20 169.10 2.90 28.8 454.4
Plus 188.30 202.00 13.70 31.9 322.0
Plus 233.00 243.50 10.50 6.6 41.3
KP04-286 220.30 221.00 0.70 24.8 116.1
Plus 242.40 243.40 1.00 15.8 128.8
Plus 248.50 250.00 1.50 7.7 62.6
Plus 251.40 264.50 13.10 31.3 332.8
Plus 270.70 291.30 20.60 31.7 484.3
Plus 308.80 316.30 7.50 7.0 35.31
KP04-291 232.00 234.70 2.70 20.2 560.4
KP04-322 150.35 180.60 30.25 12.2 119.4
KP04-333 520.50 521.50 1.00 95.3 52.7
KP04-335 229.70 232.30 2.60 61.0 296.3
Plus 235.00 237.00 2.00 13.1 171.4
KP04-361 403.30 406.60 2.70 23.1 96.6
Plus 411.50 420.80 9.30 14.5 242.1
Central Zone
A total of 47 drill holes totalling 7,220 metres have been completed in the
Central Zone. The drilling has discovered a new high grade ore shoot that is 150
to 200 metres long and extends to at least 175 metres below surface and remains
open at depth. Holes from this ore shoot include holes 299 (71.6 g/t gold and
2,674 g/t silver over 8.5 metres), 296 (63.8 g/t gold and 426.9 g/t silver over
5 metres), 290 (22.2 g/t gold, 89.4 g/t silver over 3.6 metres), 298 (17.29 g/t
gold, 143 g /t silver over 16.8 metres) and hole 303 (22 g/t gold and 400.5 g/t
silver over 9.9 metres). Hole 300 (17.25 g/t gold and 539 g/t silver over 5.6
metres) was drilled in the previously discovered southern ore shoot in the
Central Zone outlined in the last release (August 12 2004). This shoot also
remains open at depth.
Selected drill results are as follows:
Central Zone FROM TO LENGTH GOLD SILVER
---------- ------- ------ ------- -------- --------
Hole # (metres) (metres) (metres) (g/t) (g/t)
---------- ------- ------ ------- -------- --------
KP04-287 47.20 48.00 0.80 39.7 990.4
Plus 63.25 68.00 4.75 19.0 205.6
KP04-290 127.00 130.60 3.60 22.2 89.4
KP04-296 17.20 22.20 5.00 63.8 426.9
KP04-297 172.85 188.60 15.75 15.9 251.1
KP04-298 79.00 95.80 16.80 17.2 143.1
KP04-299 154.50 163.00 8.50 71.6 2,674.5
KP04-300 204.80 210.40 5.60 17.2 539.3
KP04-303 132.50 142.40 9.90 22.0 400.5
KP04-318 19.70 36.00 16.30 13.2 151.5
KP04-323 68.00 73.20 5.20 11.2 242.4
KP04-354 141.90 145.60 3.70 11.4 340.5
KP04-364 106.10 113.20 7.10 16.4 62.0
Plus 133.6 137.7 4.10 26.0 836.0
South Zone
A total of 39 holes totaling 5500 metres have been drilled in the South Zone to
date in 2004. Hole 338 is the most significant of these holes as it contains
11.0 g/t gold and 182 g/t silver over 16.1 metres from 45.4 to 61.5 metres. This
intersection is approximately 100 metres east of the expected location of the
South Zone and may represent the continuation of the main vein from Big Bend
offset by faulting to the east. If this is the case, then the South Zone and
South Zone Extension drilling has not been on the main vein but on a southern
continuation of another vein located west of the main structures. Drilling is
ongoing.
Selected Results are as follows:
South Zone FROM TO LENGTH GOLD SILVER
Hole # (metres) (metres) (metres) (g/t) (g/t)
KP04-283 25.80 29.00 3.20 18.9 86.4
KP04-288 169.70 170.35 0.65 20.5 222.8
Plus 177.50 180.50 3.00 13.3 368.4
Plus 194.00 197.60 3.60 17.2 198.9
KP04-294 52.70 55.20 2.50 23.2 156.3
KP04-334 51.30 52.60 1.30 22.4 140.2
KP04-338 45.40 61.50 16.10 11.01 181.7
Plus 183.40 188.70 5.30 18.4 167.1
Big Bend Zone
A total of 99 holes (including infill, geotech, metallurgical, and detailed
drilling) totaling 13,800 metres have been completed in the Big Bend Zone.
Significant infill results are in the table below and continue to confirm the
high grades contained in the Big Bend Zone.
Detailed drilling is underway on a high grade portion of the Big Bend Zone on
5x10 metre centres along 100 metres of strike length and to 25 metres depth, to
calculate dilution and to determine short range high grade continuity. Results
to date (see attached table) outline the strong grade continuity in the high
grade portion of Big Bend.
In addition, as mentioned in the last release (August 12 2004), as part of the
dilution and grade continuity exercise 700 metres of the Big Bend and South Zone
have been exposed along strike on surface through trenching. Samples have been
taken across the vein every 5 metres. Results again indicate strong grade
continuity.
Big Bend infill drilling results are as follows:
Big Bend FROM TO LENGTH GOLD SILVER
-------- -------- -------- -------- -------- --------
Hole # (metres) (metres) (metres) (g/t) (g/t)
-------- -------- -------- -------- -------- --------
KP04-264 194.50 201.00 6.50 25.9 300.7
KP04-266 85.95 97.70 11.75 31.5 324.3
Plus 102.20 109.25 7.05 37.1 105.8
KP04-269 59.35 67.40 8.05 45.7 387.5
KP04-282 90.70 99.90 9.20 72.8 832.0
KP04-285 157.20 162.60 5.40 112.4 1,493.3
KP04-289 295.25 307.00 11.75 30.1 705.9
KP04-317 154.50 159.70 5.20 14.3 101.7
KP04-339 203.25 214.15 10.90 16.3 381.3
KP04-351 144.25 150.20 5.95 114.3 1103.8
KP04-357 243.00 250.45 7.45 31.7 531.8
Big Bend detailed drilling results are as follows:
KP04-272 3.80 12.80 9.00 143.1 1,288.1
KP04-273 13.50 21.05 7.55 184.1 1,231.1
KP04-274 6.70 15.50 8.80 70.5 736.1
KP04-275 10.10 21.20 11.10 120.9 702.6
KP04-276 5.10 15.90 10.80 40.0 402.7
KP04-277 9.80 27.95 18.15 56.0 392.4
KP04-278 0.00 13.78 13.78 36.5 362.6
KP04-304 21.00 27.10 6.10 59.1 655.8
KP04-305 22.50 31.40 8.90 55.4 537.5
Plus 37.00 37.70 0.70 27.1 321.5
KP04-306 16.15 22.00 5.85 94.0 996.7
Plus 23.85 26.40 2.55 27.5 208.3
KP04-307 18.40 36.75 18.35 51.9 552.0
KP04-308 15.50 31.50 16.00 41.8 443.3
KP04-310 10.20 20.30 10.10 85.8 708.2
KP04-311 16.00 30.10 14.10 73.2 697.5
KP04-312 18.70 44.90 26.20 28.7 265.4
KP04-325 6.45 10.85 4.40 39.7 255.9
KP04-326A 11.60 13.00 1.40 76.7 1266.5
Plus 17.00 32.25 15.25 55.7 492.5
KP04-327 4.50 13.55 9.05 68.1 332.5
KP04-328 5.45 16.60 11.15 53.2 348.0
KP04-329 21.70 35.00 13.30 47.5 432.0
KP04-330 30.80 43.90 13.10 31.4 296.4
KP04-331 18.20 24.70 6.50 51.7 348.2
KP04-332 22.90 32.50 9.60 71.1 1048.4
KP04-341 8.00 20.50 12.50 38.1 299.9
KP04-342 5.30 16.30 11.00 63.5 389.3
KP04-343 17.50 25.75 8.25 87.7 323.4
KP04-344 24.20 33.40 9.20 67.6 360.1
KP04-345 14.10 21.00 6.90 72.3 571.1
KP04-346 12.00 28.40 16.40 99.8 978.5
KP04-347 15.50 32.50 17.00 47.2 403.8
Additional Big Bend trenching detailed results are as follows:
FROM TO LENGTH GOLD SILVER
---------- -------- -------- -------- -------- -------
Hole # (metres) (metres) (metres) (g/t) (g/t)
---------- -------- -------- -------- -------- -------
TP90850.1 0.00 2.08 2.08 10.7 96.7
TP90850.2 0.52 0.91 0.39 6.9 73.80
TP90860 0.00 3.25 3.25 20.01 133.3
TP90870 0.75 3.41 2.66 7.9 47.5
TP90880.1 1.25 2.57 1.32 17.6 77.2
TP90890 1.42 6.61 5.19 49.0 212.7
TP90900 1.43 4.93 3.50 88.9 706.6
TP90910 1.46 4.10 2.64 40.0 535.9
TP90920.1 2.01 4.46 2.45 36.40 284.6
TP90930.1 1.76 6.72 4.96 65.8 558.8
TP90940.1 2.41 7.01 4.60 52.5 486.3
TP91010.2 1.87 7.42 5.55 52.50 454.9
TP91020 0.97 7.37 6.40 64.3 614.0
TP91035 1.02 8.36 7.34 28.40 348.8
TP91040 1.11 8.73 7.62 83.2 403.7
TP91045 0.00 9.63 9.63 68.3 767.3
TP91050 0.50 10.43 9.93 49.8 498.4
Drilling is ongoing at Kupol. The current plan is to complete infill drilling in
early October and apply all seven drill rigs to exploration for the month of
October, focusing on the newly discovered vein to the South, the North North
Extension Zone and parallel veins. Three drill rigs will continue exploration
drilling through the end of November.
The following table shows the location of the drill holes drilled to date.
HOLE-ID LOCATION LOCATION LOCATION LENGTH SECTION AZIMUTH DIP
X Y Z
KP04-264 77,100.56 90,700.21 566.04 270.0 90700 271.4 -55.4
KP04-265 77,083.82 90,875.11 594.03 96.5 90875 268.4 -55.0
KP04-266 77,114.44 91,012.64 618.23 133.5 91025 273.8 -57.0
KP04-267 77,132.11 92,350.10 604.27 248.0 92350 271.6 -55.1
KP04-268 77,077.34 92,250.05 616.54 236.0 92250 266.4 -53.6
KP04-269 77,099.42 91,050.08 627.44 94.8 91050 273.4 -54.4
KP04-270 76,910.01 90,499.67 556.76 76.0 90500 272.3 -54.9
KP04-271 77,158.05 90,950.33 607.97 158.4 90950 274.7 -64.1
KP04-271A 77,158.05 90,952.15 607.81 6.0 90950 273.0 -64.9
KP04-272 77,053.76 90,949.83 609.25 22.0 90950 269.3 -44.5
KP04-273 77,054.82 90,949.83 609.28 27.0 90950 270.1 -61.6
KP04-274 77,056.42 90,960.14 610.59 21.0 90950 272.6 -43.4
KP04-275 77,057.27 90,960.12 610.69 28.5 90960 273.3 -58.6
KP04-276 77,058.67 90,969.97 612.03 24.0 90970 270.9 -43.1
KP04-277 77,059.32 90,970.03 611.56 33.5 90970 276.9 -68.8
KP04-278 77,058.68 90,980.07 613.05 130.0 90980 270.1 -42.7
KP04-279 77,160.53 91,413.02 657.19 155.0 91413 269.7 -54.4
KP04-280 77,077.66 92,250.06 616.68 266.0 92250 266.8 -63.2
KP04-281 77,131.91 92,350.10 604.05 285.5 92350 271.6 -60.4
KP04-282 77,096.05 90,924.63 604.52 120.0 90925 270.9 -53.8
KP04-283 76,989.65 90,549.03 555.38 162.0 90550 271.3 -54.9
KP04-284 77,144.83 92,250.15 615.95 397.0 92250 269.8 -64.3
KP04-285 77,096.42 90,924.59 604.40 185.0 90925 270.5 -73.8
KP04-286 77,132.20 92,350.07 604.12 335.0 92350 272.6 -69.6
KP04-287 77,077.17 91,874.84 654.49 88.6 91875 269.5 -53.6
KP04-288 77,063.43 90,597.78 554.96 282.0 90600 269.5 -53.5
KP04-289 76,910.70 91,149.86 652.43 327.0 91150 91.4 -45.7
KP04-290 77,134.17 91,874.78 653.13 165.5 91875 271.9 -55.1
KP04-291 76,837.49 92,174.85 665.54 332.0 92175 91.1 -50.1
KP04-292 76,859.11 91,924.96 679.56 329.0 91925 91.0 -45.0
KP04-293 76,845.73 90,579.83 572.02 193.0 90580 87.8 -46.3
KP04-294 77,002.24 90,575.14 557.05 165.0 90575 273.0 -55.9
KP04-295 76,868.00 91,150.00 650.00 31.0 91150 90.0 -47.0
KP04-295A 76,869.02 91,151.20 651.89 451.8 91150 87.3 -46.5
KP04-296 77,052.08 91,924.67 653.25 68.4 91925 266.5 -55.4
KP04-297 76,969.66 91,306.84 661.11 198.5 91307 89.9 -48.8
KP04-298 77,096.57 91,924.63 648.46 123.6 91925 275.3 -54.8
KP04-299 77,158.29 91,850.07 653.58 224.0 91850 268.7 -59.3
KP04-300 76,978.04 91,524.98 668.25 269.0 91525 91.1 -51.9
KP04-301 76,848.75 90,499.82 555.65 240.0 90500 88.5 -46.8
KP04-302 77,169.38 91,462.42 655.79 158.0 91475 270.7 -54.6
KP04-303 77,134.14 91,924.33 643.83 175.1 91925 273.5 -54.3
KP04-304 77,060.26 90,950.02 608.35 35.5 90950 281.6 -54.0
KP04-305 77,060.26 90,950.02 608.35 41.0 90950 281.6 -60.7
KP04-306 77,060.26 90,959.97 609.07 32.0 90960 270.2 -53.9
KP04-307 77,060.60 90,959.91 609.18 41.0 90960 269.9 -63.3
KP04-308 77,064.91 90,970.13 609.96 37.5 90970 276.1 -56.4
KP04-309 77,065.29 90,970.12 609.93 59.5 90970 275.9 -65.0
KP04-310 77,064.74 90,979.92 611.28 50.0 90980 270.2 -45.2
KP04-311 77,065.53 90,979.92 611.21 38.0 90980 270.3 -60.9
KP04-312 77,065.62 90,979.92 611.11 48.0 90980 271.5 -70.6
KP04-313 77,223.39 91,324.68 655.25 41.0 91325 269.9 -51.1
KP04-313A 77,224.08 91,324.70 655.17 275.0 91325 270.3 -61.5
KP04-314 76,979.84 90,600.17 563.26 120.8 90600 275.3 -53.0
KP04-315 77,091.46 90,975.05 609.98 100.0 90975 272.0 -53.7
KP04-316 77,122.97 92,450.57 590.70 170.0 92450 273.9 -51.3
KP04-317 76,927.40 90,619.50 578.13 185.0 N/A 37.0 -42.6
KP04-318 77,051.86 91,973.48 646.77 72.5 91975 273.4 -54.3
KP04-319 77,073.94 92,200.20 621.67 220.0 92200 270.3 -62.8
KP04-320 76,899.80 90,834.86 627.72 160.0 90835 89.6 -49.8
KP04-321 76,947.52 90,599.98 572.18 80.0 90600 278.3 -54.0
KP04-322 77,123.74 92,450.70 590.76 230.0 92450 271.0 -64.3
KP04-323 77,082.40 91,999.51 642.56 120.0 92000 268.0 -55.2
KP04-324 76,947.11 90,836.08 623.17 100.0 90835 267.0 -60.9
KP04-325 77,065.41 91,009.97 618.14 14.4 91010 271.0 -44.7
KP04-326 77,065.89 91,009.94 618.22 40.0 91010 270.8 -59.0
KP04-326A 77,065.96 91,009.97 618.21 42.0 91010 272.3 -62.4
KP04-327 77,061.07 91,019.76 620.09 18.0 91020 271.5 -44.7
KP04-328 77,061.61 91,019.78 619.99 31.5 91020 271.5 -59.9
KP04-329 77,070.83 91,009.93 618.03 42.0 91010 271.9 -57.0
KP04-330 77,071.37 91,009.90 618.04 48.0 91010 270.5 -67.0
KP04-331 77,070.96 91,019.85 619.51 31.5 91020 272.2 -43.4
KP04-332 77,070.46 91,019.85 619.62 37.5 91020 272.2 -56.0
KP04-333 77,354.47 92,850.06 538.52 620.0 92850 267.2 -60.0
KP04-334 76,979.11 90,400.20 534.94 150.0 90400 269.0 -54.1
KP04-335 77,092.42 92,200.22 621.98 362.0 92200 268.0 -64.2
KP04-336 76,997.46 90,625.44 563.08 125.0 90625 276.8 -55.3
KP04-337 77,028.27 92,074.75 640.17 53.5 92075 266.4 -56.0
KP04-338 77,011.62 90,449.83 538.84 264.7 90450 269.5 -54.3
KP04-339 77,166.43 90,862.47 591.91 235.0 90863 271.6 -58.7
KP04-340 77,120.25 92,200.18 621.74 408.5 92200 262.3 -64.9
KP04-341 77,062.95 91,050.21 628.28 36.0 91050 272.5 -61.1
KP04-342 77,071.62 91,049.91 628.20 25.0 91050 273.9 -43.2
KP04-343 77,062.02 91,050.15 628.31 28.3 91050 272.5 -43.5
KP04-344 77,072.53 91,049.83 628.39 40.5 91050 273.9 -61.2
KP04-345 77,065.32 91,009.89 618.52 31.5 91010 274.8 -43.0
KP04-346 77,064.95 90,979.89 610.53 42.0 90980 274.3 -58.0
KP04-347 77,065.34 90,979.79 610.41 47.5 90980 274.2 -71.2
KP04-348 77,084.00 92,300.00 609.00 In 92300 270.0 -52.0
progress
KP04-349 77,074.97 92,074.64 634.60 140.0 92075 269.1 -53.7
KP04-350 76,827.98 90,275.75 547.48 81.0 90275 271.0 -55.7
KP04-351 77,148.08 90,862.42 591.33 199.0 90863 267.7 -48.2
KP04-352 77,069.82 90,457.09 537.44 400.0 90450 267.0 -60.1
KP04-353 76,989.80 90,639.48 564.52 26.9 90640 276.9 -54.7
KP04-354 77,116.67 92,049.82 635.51 192.0 92050 265.0 -54.7
KP04-355 77,107.85 90,899.73 598.01 139.5 90900 270.7 -54.9
KP04-356 76,992.51 90,639.27 564.40 42.0 90640 278.5 -67.0
KP04-357 77,228.56 91,050.00 634.07 267.0 91050 272.5 -50.4
KP04-358 77,120.52 92,201.83 622.21 389.0 92200 261.5 -67.0
KP04-359 76,995.61 90,638.95 564.43 73.5 90640 278.1 -54.9
KP04-360 76,998.58 90,638.66 564.44 60.0 90640 273.3 -55.3
KP04-361 77,334.78 92,950.32 511.21 494.0 92950 271.5 -55.3
KP04-362 76,988.43 90,639.09 564.56 34.0 90640 274.2 -47.9
KP04-363 77,262.65 91,400.11 650.42 320.0 91400 265.8 -58.9
KP04-364 77,099.31 92,087.85 632.12 190.0 92088 272.4 -54.7
KP04-365 76,991.54 90,649.50 565.29 60.8 90650 274.5 -54.3
All results released in this news release have been validated by BSDlO. Quality
Control Program ("QC") which has been designed in concert with an independent
consultant to meet or exceed the requirements of N1 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 for
Bema Gold Corporation, is the Qualified Person for this exploration project.
The Kupol project is a joint venture between Bema and the Government of
Chukotka. Bema has the option to earn a 75% interest in the property from the
Government.
"Clive T. Johnson"
Chairman, C.E.O., & President
On Behalf of BEMA GOLD CORPORATION
For further information please contact Bema Gold:
Ian MacLean Derek Iwanaka
Manager, Investor Relations Investor Relations
604-681-8371, investor@bemagold.com 604-681-8371, investor@bemagold.com
Bema Gold Corporation trades on the Toronto Stock Exchange and the American
Stock Exchange. Symbol: BGO. Bema shares also trade on the London Stock
Exchange's Alternative Investment Market(AIM). Symbol: BAU.
Some of the statements contained in this release are "forward-looking
statements" within the meaning of 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 annual gold production 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; and
other risks and uncertainties detailed in the Company's Form 40-F Annual Report
for the year ended December 31, 2003, which has been filed with the Securities
and Exchange Commission, and the Company's Renewal Annual Information Form for
the year ended December 31, 2003, which is an exhibit to the Company's Form 40-F
and 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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