Braeval Mining Corporation Provides 2013 Exploration Plan for
Braeval Mining Corporation Provides 2013 Exploration Plan for the Snow Mine Project, Colombia
TORONTO, ONTARIO -- (Marketwire) -- 01/15/13 --
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Braeval Mining Corporation (TSX:BVL) ("Braeval Mining" or the "Company") is pleased to provide details of its 2013 Exploration plans at the Snow Mine Project (2,643 Ha) in the South of Bolivar, Colombia and on the other properties in Mexico, Peru, Nicaragua and Honduras.
Braeval Mining Corporation Exploration Plan:
The Company's 2013 exploration plan at the Snow Mine Project is to drill approximately 6,000 m with one drill on each of the Las Nieves and Casa de Barro structures.
The focus of the drilling will be to expand the known mineralization from surface to depth along the Las Nieves and Casa de Barro veins. During the first quarter of 2013, the Company is expecting to complete at least 10 holes totalling approximately 1800 m. These two mineralized veins vary between 2 to 8 meters in width and have been mapped over 2.95 km on surface.
The Company is also conducting systematic sampling in the underground artisanal tunnels in order to better understand the behaviour of the veins.
The underground program is expected to be completed by the beginning of the second quarter of 2013, with the results of sampling to be disclosed shortly thereafter. With the underground sampling, the Company expects to be able to model the different tunnels and their grades to further understand the system.
In Mexico the Company holds an option for the 546.7 ha Guaynopa gold-skarn project, and in Peru the Company has staked 25,090 ha and has optioned two additional projects, Arcopunco (595 ha) and Terciopelo (4,200 ha). During the first quarter of 2013, the Company intends to prepare NI-43-101 reports for both properties.
In addition, the Company has applied for a total of 464,373 ha of mineral concessions in Nicaragua, and 170,500 ha of mineral concessions in Honduras. During the second quarter of 2013, the Company expects to have the mineral concessions in Nicaragua granted.
Scientific and technical information in this press release has been reviewed by Gernot Wober P.Geo., the Vice President, Exploration of the Co mpany and a qualified person under National Instrument 43-101.
About Braeval Mining Corporation
Braeval Mining is a junior mineral exploration company focused on the exploration and development of precious metals resource properties in South and Central America and Mexico. The Company holds options to acquire an interest in four adjacent mineral titles that comprise the Snow Mine Project located in Colombia. Braeval Mining proposes to explore the Snow Mine Project for precious metal deposits including gold, silver and copper, and holds or has applied for other exploration property interests in Mexico, Peru, Honduras and Nicaragua.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this news release. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management's expectations with respect to, among other things, the generation of revenues by the Company, the timing and amount of funding required to execute the Company's exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company's properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company's ability to raise funding privately or on a public market in the future, the Company's future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as "anticipate", "believe", "expect", "intend", "may" and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Mexico, Colombia, Peru, Honduras, Nicaragua or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in
this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
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Contacts: Braeval Mining Corporation Jose Vizquerra President & CEO 416-848-9504 email@example.com