Update from Doug CaseyInternational Speculator
11-07-2005 Bear Creek Mining ( BCM.V ) (C$3.51, 32.1mm SO, 43.4mm FD, C$112.67mm MCap, www.bearcreekmining.com)
Bear Creek Mining announced today results from an additional eight drill holes from the Corani silver project bringing the total number of holes drilled to forty-five of which forty-two have encountered significant intercepts exceeding 1 ounce/t Ag and 1% Pb. Highlights include:
* 112 meters (from surface) grading 3.8 opt Ag, 1.21% Pb and 0.95% Zn (AgEq 7 opt) in Corani Este.
* 118 meters (from surface) grading 2.5 opt Ag, 1.55% Pb and 1.44% Zn (AgEq 7 opt) in Corani Este.
* 229 meters (under 71 meters of post mineral tuff) of 1.8 opt Ag, 1.68 % Pb and 1.27% Zn (AgEq 6.1 opt), including 61 meters of 3.5 opt Ag, 2.47% Pb and 0.85% Zn (AgEq 8 opt).
The strike length of the main Corani zone has increased to 1,400 m with a width ranging from 200 m to 425 m. The mineralization remains open to the north, laterally, and at depth. Drilling will continue to advance to the north on Corani at 100 meter intervals. Results also continue to confirm continuity between drill fences allowing us to aggressively move towards a resource calculation in early '06.
At Corani Este, the drilling is confirming the higher-grade silver mineralization at depth beneath the trenches. Most significantly, the mineralized intercepts at Corani Este have increased in thickness by 50% from the southernmost drill hole C-16 to the northernmost C-27, over a distance of 300 meters and the mineralization remains open to the north and east. The seven drill holes at Corani Este average 86 m true thickness at 6.6 opt AgEq. Significantly, drill hole C-25 demonstrates that mineralization extends east under post-mineral cover at excellent grade (6.0 opt Ag, 1% Pb, 7.2 opt equiv. Ag). Future drilling will test extensions of the mineralization under the tuff to the north and east.
Comments: This keeps growing and growing, with each solid hole reducing our downside risk. All of the above are excellent results, with every indication that we can expect more of same.