- Maricunga Project
- Maricunga (DFS)
Bearing Resources Ltd. ("Bearing", or the "Company") (TSX-V: BRZ) is pleased to report that exploration at its 100% owned October Dome gold property ("October Dome") has successfully extended the strike length of the existing gold target. In June, Bearing collected 457 grid-controlled soil samples that extended the existing gold (20 ppb threshold) and arsenic (20 ppm threshold) soil anomalies by a further kilometre to the southeast. The October Dome target is now a four kilometre long gold in soil anomaly, in part, coincident with high induced polarization ("IP") chargeability anomalies (see figures at www.bearingresources.ca). Bearing also recently received a multi-year exploration permit that will allow extension of the existing IP grid to the southeast to cover the expanded soil anomaly as well as trenching and diamond drilling of the anomalous areas.
The 2,542 hectare property is located near the town of Likely in the Quesnel Trough region of central British Columbia, Canada. October Dome is adjacent to Bearing's Mount Polley property (7,458 hectares) which is contiguous with Imperial Metals Corporation's ("Imperial") Mount Polley porphyry copper-gold mine property, 10 kilometres to the south, and to Barkerville Gold Mines Ltd.'s QR skarn gold mine property 7 kilometres to the north west. The October Dome property may host multiple styles of mineralization including gold skarn similar to the QR deposit and alkalic porphyry copper-gold similar to the Mount Polley deposit.
Dave Tupper, Vice President Exploration commented, "The recent soil survey increases the scale of the October Dome target. Bearing plans to complete an initial trenching and drilling program in the first half of 2012 targeting the strong coincident IP and soil anomalies."
Robert Cameron, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
About Bearing Resources
Bearing is a Canadian based precious and base metal exploration company with projects located in British Columbia, the Yukon and Mexico. Bearing has an option to earn up to a 65% interest in the 12,113 hectare Zymo copper-gold project ("Zymo"), located 45 kilometres west from the town of Smithers, British Columbia. The Company's Mount Polley and October Dome projects are located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a potential production royalty on the Boundary property, with Imperial. In the Yukon, Ryan Gold Corp. has been granted a right to earn up to 75% interest in Bearing's Flume property located within the White Gold District. Bearing also holds a portfolio of Yukon exploration properties located near Golden Predator's Clear Creek gold project and Northern Tiger's 3Ace gold project. In addition, Bearing is conducting generative exploration in Mexico and early stage exploration at the 26,849 hectare Parrandera copper-gold project located in the Mapimi region of eastern Durango, Mexico.
BEARING RESOURCES LTD.
Geoff Chater President & CEO
For further information please visit Bearing's website at www.bearingresources.ca or contact Geoff Chater at (604) 614-7830 or email@example.com
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to exploration results involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Bearing to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of commodities, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta. "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.