azuero

Pitaloza High-Sulphidation Gold Project, Panama

 
Overview


Bellhaven has assembled a large land position on the Azuero Peninsula of Panama, host to a belt of high-sulphidation gold and copper prospects including Pitaloza
The advanced stage Pitaloza project hosts three  highly prospective high-sulphidation epithermal gold-(copper) prospects:
  • Bejucosa
     
  • Cementerio
     
  • Caracucho
The Pitaloza exploration concession is 3,299 hectares in size, 100% owned by Bellhaven Copper & Gold. Inc.  It is located in the same belt of dacitic volcanic rocks as the nearby Cerro Quema gold deposit.

High-sulphidation epithermal deposits such as Pitaloza and Cerro Quema are host to half of the known gold resources (80 Moz) within the Caribbean Basin.

Access to Pitaloza from Panama City is by the paved Pan-American Highway through the towns of Chitre, Macaracas, and La Mesa, then via 10 km by unimproved dirt road.  Water and labor in the area are adequate to service the project.

Project History
Pitaloza has been explored by geologic mapping, rock and soil sampling, trenching, limited diamond drilling (less than 50 meters deep), alteration studies and dipole-dipole IP/Resistivity geophysics.  In 1993-1994, Cyprus Amax Gold Company explored the Caracucho and Cementerio prospects, and Bellhaven Copper & Gold discovered Bejucosa in 2006. The field program is presently active, focused on all three prospects at Pitaloza including Bejucosa, Caracucho, and Cementerio.
 
Exploration Targets
Gold at Pitaloza occurs with minor copper and is associated with silicification, advanced-argillic alteration, and pyrite (and/or limonite) within a sequence of dacite pyroclastics and flows.  Mineralization is fissure/feeder sourced, disseminated and structure controlled.  Areas of low resistivity and high IP chargeability are interpreted to represent possible feeder-zone guiding the deposition of gold at Pitaloza (please see press release of June 3, 2010).

Bejucosa
Intense wall-rock alteration has been mapped over a surface area of 1000 meters by 500 meters at Bejucosa, and IP/Resistivity projects the alteration to depth.  The prospect has not been drill tested.  Trenches dug in 2006 yielded the following results:
  • Trench 1—52 m of 2.3 g/t Au
  • Trench 2—16 m of 1.8 g/t Au
  • Trench 3—12 m of 8.9 g/t Au
  • Trench 4—34 m of 0.6 g/t Au.

Trenches dug in 2010 delivered the following results (please see press release of July 8, 2010):

  • Trench A—18 m of 4.4 g/t Au
  • Trench B—06 m of 1.6 g/t Au
  • Trench C—10 m of 1.0 g/t Au

 

Cementerio
Cementerio is located 2 km to the north of Bejucosa.  Acid-sulphate leach alteration has been mapped over an area of 1000  meters by 200 meters and IP/Resistivity project the alteration to depth.  The prospect has not been drill tested.  Trenches dug by Cyprus Minerals in 1993-1994 delivered the following results:
  • Trench 1—15 m of 0.69 g/t Au
  • Trench 2—127 m of 0.39 g/t Au (including 25 m of 1.28 g/t Au)
  • Trench 3—55 m of 0.23 g/t Au
  • Trench 4—25 m of 0.23 g/t Au.
Caracucho
Caracucho is located 1.5 kilometers to the northwest of Bejucosa.  In 1994, Cyprus Amax Gold drilled nine diamond drill holes to test near-surface, oxide-gold targets; several holes ended in sulfide copper and gold mineralization.  Hole PZD-94-2 intersected 26.52 meters of oxide mineralization averaging 0.7 g/t gold and Hole PZD-94-3  intersected 15.25 meters of oxide mineralization averaging 1.8 g/t gold. 

Exploration Plans
In April 2010, Bellhaven reinitated exploration activities at Pitaloza (see press release of April 13, 2010). Summaries of the recent work program and its results can be found below under the section, "Pitaloza News Releases".

Pitaloza Presentation (.pdf)
Pitaloza Re-interpreted Resistivity and Chargeability Pseudo-Sections and Plan Maps

Pitaloza News Releases

May 25, 2011
Bellhaven’s Second Drill Hole at the Caracucho Prospect, Pitaloza, Panama, Delivers 0.98 g/t Gold and 0.46% Copper (1.76 g/t Gold Equiv.) over 50 Meters

April 21, 2011
Bellhaven’s First Drill Hole at the Caracucho Prospect, Pitaloza, Panama, Delivers 1.32 g/t Gold over 18.29 Meters

March 7, 2011

Bellhaven Receives Assays for First Two Drill Holes at its High-Sulphidation Epithermal Gold Prospect at Bejucosa, Panama

December 21, 2010

Bellhaven Commences Drilling at its High-Sulphidation Epithermal Gold Prospect at Bejucosa, Pitaloza, Panama

October 1, 2010

Bellhaven Announces Increase in Private Placement 

October 1, 2010

Bellhaven Announces Fully Allocated Non-Brokered Private Placement for C$4,500,000

August 3, 2010

Bellhaven Receives Review by Dr. Jeffrey Hedenquist of the Pitaloza and Cerro Viejo High-Sulphidation Epithermal Gold Projects, Panama

Bellhaven Receives Environmental Permit for its Pitaloza High-Sulphidation Epithermal Gold Deposit, Panama.  Drilling Program Now Being Organized

Bellhaven Hires Exploration Manager for Panama

July 8, 2010

Bellhaven Receives Spectral Analyses Showing Widespread Advanced-Argillic and Silicic Alteration at the Bejucosa Prospect at Pitaloza, Panama

June 3, 2010
Bellhaven Receives Re-Interpretation of 2008 Induced Polarization (IP) Survey over the Pitaloza High-Sulphidation Epithermal Gold Project, Panama - Multiple Gold Targets Identified



Pitaloza Maps and Images