Kupol’s gold and silver high and continuous

Vancouver – Bema Gold’s (BGO-T) recent drill program at Kupol has extended the high-grade gold and silver mineralization in the offset vein in the South zone, the Central zone, and shown the continuity of the high-grade in the North zone. The Kupol project is situated in far eastern Russia and is jointly held by Bema and the Chukotka government from which Bema can earn a 75% interest.

So far the company has drilled over 52,000 metres in 308 holes on the property this season. Mineralization in the main Kupol vein has been traced for 3.6 km along strike length and to a depth of 600 metres below surface in the North zone. The deposit remains open along strike, to the north, and south and at depth.

Multiple high-grade veins continued to be intersected in the North and North Extension zones which are still open to the north and to depth. Recent results included hole 374 which intersected six veins, including one that averaged 21.82 grams gold and 233.75 grams silver per tonne over 22.8 metres; hole 385 with three veins intersected one averaging 28.92 grams gold and 645.5 grams silver over 8 metres.

The North Extension was found to continue to depth, highlighted by hole 416 with 10.35 metres averaging 14.28 grams gold and 106.38 grams silver.

The company describes the North zone as having a complex anastamosing vein morphology with continuous high grades in the main vein and variable grades in the smaller veins.

Drilling in the Central zone was geared towards defining the near-surface resource. Results include 24.90 grams gold and 493.21 grams silver over 15 metres in hole 363. This hole extended the mineralization below a barren fault and dyke zone and together with hole 403 (23.53 grams gold and 753.55 grams silver over 1.80 metres) indicates that the high-grade mineralization extends at least 300 metres north of the Big Bend.

The most recent drilling into the South zone includes hole 451 with 7 metres grading 29.54 grams gold and 156.56 grams silver, which extended the offset vein another 25 metres south.

From this it appears that the main Kupol vein has been offset by a fault, some 100 metres to the east making it open to the south.

Results of dilution drilling for continuity on 10-metre centres indicates good grade continuity on the main vein structure.

Infill drilling was done as part of the final phase of feasibility drilling at the Big Bend zone. The results show wide vein widths with excellent continuity of the high-grade mineralization for the zone, highlighted by hole 373 which intersected 20.1 metres averaging 52.53 grams gold and 495.43 grams silver.

A new resource estimate for the Kupol deposit is expected by the end of January 2005 with the feasibility study to be completed by April 2005. The Kupol project loan will be finalized after the feasibility study is in hand.


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