Bearing Resources Ltd. ("Bearing", or the "Company") (TSX-V Symbol BRZ.V) is pleased to announce that the Company has commenced a drill program at its Parrandera gold-copper project located in the Mapimi region of Durango, Mexico. Bearing has the right to acquire a 100% interest in the optioned Parrandera properties (News Release June 21, 2011).
The drill program will consist of approximately 1,200 metres of drill core in 6 to 8 drill holes and is expected to be completed by the end of May, 2012. The drill program will test the Parrandera target for intrusion related precious and base metal mineralization. Prospecting, soil geochemical sampling and an induced polarization ("IP") survey have outlined a 1,500 metres by 500 metres anomaly. The anomaly consists of a coincident gold, copper and zinc soil anomaly with partially coincident IP chargeability highs located within areas of historical pitting and tunneling. Sampling from an adit constructed by historic miners returned a 20 metre weighted average interval grading 2.58 g/t gold and 0.33% copper. Samples collected the full length of the 92.73 metre long adit returned a weighted average of 0.86 g/t gold and 0.15% copper (News Release January 11, 2012).
The Company's exploration efforts in Mexico are focused on targeting precious and base metal-rich systems analogous to the Goldcorp's Penasquito and Camino Rojo deposits. The Parrandera properties represent a small fraction (351 hectares) of the larger Mapimi gold and silver project ("Mapimi"). Mapimi consists of a contiguous land position (Parrandera, Pedro & KM 66 properties) approximately 40,000 hectares in the highly prospective Altiplano Region of Central Mexico (see map at www.bearingresources.ca). The Mapimi silver-gold project exhibits many of the characteristics that typify these deposits, in particular, breccia hosted and carbonate replacement mineralization associated with buried porphyry mineralization (KM 66 property). The Company believes that the precious and base metal mineralization identified to date on the Mapimi property may well be indicative of a larger mineral system under shallow cover.
The KM 66 acquisition (News Release March 12, 2012) remains subject to the completion of due diligence and execution of a Definitive Agreement.
Dave Tupper, 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 is conducting exploration for precious and base metals deposits at the ~40,000 hectares Mapimi project located in the Altiplano Region of eastern Durango, 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 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.
Other News:
Bearing Resources Begins Drilling At Parrandera Gold-Copper Target, Durango Mexico
Minebea wins the 2012 Gomez Internet IR Best Company Award by Morningstar Japan K.K.
SKF Plans to Grow Renewables Business Faster Than Wind Industry
Machinable, Resin Impregnated, Carbon-Graphite Blanks
NTN Exhibits at The 15th SIMTOS 2012 “Seoul International Machine Tool Show”
NTN Exhibits at 2012 Beijing International Automotive Exhibition ＂Auto China 2012＂ (fig)
Kaman Corp. Announces Release Date for First Quarter 2012 Earnings
Dana Launches Technologically Advanced Spicer® 318 Hydrostatic Continuously Variable Transmission (HCVT) for Co
