VANCOUVER, Sept. 15, 2016 /CNW/ - Bellhaven Copper &
Gold Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") is
pleased to announce the immediate appointment of Mr. Mark Gelmon to the position of Chief Financial
Officer. Mr. Gelmon has provided financial and regulatory
expertise to TSX Venture Exchange listed companies in the capacity
of director, chief financial officer, and consultant for the past
21 years. His background and skills as a CPA, CA (1995)
provides the Company with the skills required for financial
management, reporting operating results, liaison with financial
institutions, and compliance with today's complex regulatory
reporting requirements. Mr. Gelmon has been a partner at iO
Corporate Services (Vancouver)
since 2007.
Dr. Paul Zweng, Bellhaven's
CEO and Chairman, commented as follows:
"We are delighted to engage Mark as Bellhaven's CFO. He
has a long history assisting Bellhaven in the past and we are
pleased to have him now officially in this new role.
Millie Paredes, Bellhaven's COO and
president, the board of directors, and I look forward to working
with Mark in the months ahead as we continue to build a better
Bellhaven."
About Bellhaven
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX-V:
BHV) exploration company exploring for gold and copper in
Colombia. The Company's goal is to be a leader in gold and
copper development in Colombia. Bellhaven focuses on
discovery, acquisition and development of high-quality resources in
a safe and responsible manner for the benefit of all of its
stakeholders.
The Company's flagship project is the La Mina gold-(copper)
porphyry deposit in the Middle Cauca belt of Colombia. The
total La Mina inferred resource now includes 1.6 Moz gold and 419
million pounds of copper (or 2.55 Moz gold equivalent) contained in
79.9 million tonnes averaging 0.62 g/t Au, 0.24% Cu, or a gold
equivalent grade of 1.0 g/t (based on a 0.30 g/t Au cutoff
grade). The effective date for this inferred resource is
September 15, 2013. The average grade
of 1.0 g/t gold equivalent makes La Mina one of the highest grade
gold-(copper) porphyry deposits in the Americas. The Company
is currently seeking to develop and to grow these resources through
mine development and through ongoing exploration on the
La Mina concession. For more information regarding
Bellhaven, please visit our website at www.bellhavencg.com.
The scientific and technical information in this news release
was prepared under the supervision of Mr. Thomas J. Drown, P.Geo. Mr. Drown has more
than 25 years relevant experience and is a British Colombia
Professional Geoscientist. He has been a senior project
geologist with the Company at the La Mina Project and serves as the
qualified person as defined by National Instrument 43-101.
On behalf of the board of directors,
Milagros "Millie" Paredes
BELLHAVEN COPPER & GOLD INC.
Statements in this press release, other than purely
historical information, including statements relating to the
Company's future plans and objectives or expected results, may
include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all
of the risks and uncertainties inherent in resource exploration and
development. As a result, actual results may vary materially
from those described in the forward-looking statements.
Gold equivalent grades have been calculated using the
following formula: AuEq = Au(g/t) + [Cu(%)} x {%Recoverable
Cu / %Recoverable Au} x {Net Cu Price/Net Au Price} x {%Payable Cu
/ %Payable Au x 22.0462 x 31.1035]. Metal recoveries are
estimates based on metallurgical results announced in Bellhaven's
news release dated Nov. 15,
2011. Net metal prices for gold and copper are the long-term
forward curve metal price minus refining charge. Metal prices
based on the long-term forward curve are as of May 8, 2013 (US$1482 for gold and $3.40/lb for copper). Metal refinery
charges and % payable metal by the smelter are estimates based on
third-party consultants. Metal prices, refinery charges and %
payable metal are not constant and are subject to change.
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. There is no certainty that
all or any part of the mineral resources will be converted into
mineral reserves.
Neither the 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.
SOURCE Bellhaven Copper & Gold Inc.