Belvedere awarded Hirsikangas Gold Property in Finland through Public Tender



    Exchange: TSX V
    Symbol: BEL

    VANCOUVER, Nov. 9 /CNW/ - Belvedere Resources Ltd. BEL:TSX-V
("Belvedere") is pleased to announce that its 100% owned subsidiary Belvedere
Resources Finland Oy has been awarded the Hirsikangas Gold Property that was
put to public tender on March 2nd 2007 by the Finnish Ministry of Trade and
Industry (MTI).
    David Pym, CEO, states, "The gold mineralisation occurs in a new area in
Finland and is perhaps the most significant gold discovery in Finland in the
last 10 years. The initial drilling by the GTK has outlined substantial gold
mineralisation along a strike length of at least 500m. The mineralisation is
sparsely drilled but appears to be open in all directions. It appears broadly
analogous to many of the new gold discoveries along the "gold line" in Sweden.
We are extremely happy with the acquisition and believe it adds significantly
to our existing gold portfolio in the region."
    The Hirsikangas Gold Property is an orogenic, shear zone hosted gold
deposit located in western Finland, 65 km northwest of Belvedere's Hitura
Nickel Mine. The property consists of two claims covering about 150 hectares.
    The Geological Survey of Finland (GTK) discovered the source of a gold
mineralised boulder in 2004, and during the period 2004 - 2006 conducted an
exploration program consisting of: boulder tracing, bedrock mapping,
geophysical surveys (magnetics and IP), petrological and mineralogical
studies, geophysical surveys and diamond drilling totalling 4094 m over
32 drillholes. Although the density of drilling was not sufficient to estimate
a resource, it showed that gold mineralisation occurs within a sheared and
altered host rock (felsic schist) that is mineralised along a strike length of
at least 800-1000 m. Some of the better intersections drilled by the GTK
include:

    
    -------------------------------------------------------------------------
    Hole             From               To          Interval (m)    Au (ppm)
    -------------------------------------------------------------------------
    301             41.00            46.00              5.00             2.1
    -------------------------------------------------------------------------
    302            114.60           120.60              6.00             1.2
    -------------------------------------------------------------------------
    304             18.70            36.70             18.00             1.6
    -------------------------------------------------------------------------
    307             21.10            31.60             10.50             2.4
    -------------------------------------------------------------------------
    309            121.00           127.30              6.30             2.4
    -------------------------------------------------------------------------
    316            110.60           190.80             80.20             1.7
    includes       110.60           116.60              6.00             3.5
                   136.60           143.60              7.00             6.0
                   169.80           175.80              6.00             3.6
    -------------------------------------------------------------------------
    317              7.25            58.80             51.55             1.4
    includes        29.80            34.80              5.00             2.7
                    48.80            54.80              6.00             3.6
    -------------------------------------------------------------------------
    322            138.50           164.30             25.80             1.9
    includes       138.50           147.50              9.00             3.4
    -------------------------------------------------------------------------
    323             74.00            80.00              6.00             1.6
    -------------------------------------------------------------------------
    324             92.40            99.80              7.40             9.2
    includes        92.40            95.20              2.80            21.3
    -------------------------------------------------------------------------
    326            109.00           110.30              1.30             7.7
    -------------------------------------------------------------------------
    

    Initial studies suggest the gold occurs freely in grain sizes up to
1-2 mm and is associated with cracks and boundaries of silicate minerals and
rarely with sulphides.
    An environmental baseline study has already been completed on the
property and there are no protected areas within the vicinity.
    More information can be found on the GTK's website:
http://en.gtk.fi/ExplorationFinland/Commodities/Gold/hirsikangas.html

    The drilling was undertaken by several contractors, providing 40 - 42 mm
diameter core. Samples are comprised of half diamond core. Core samples were
sawn in half, and prepped and assayed at the accredited GTK laboratory in
Kuopio, Finland. Gold was assayed by 10 - 50g fire assay with an ICPAES
finish. The quality assurance-quality control (QAQC) program of the samples
was that typically employed by the accredited GTK laboratory in Kuopio. The
remaining half core has been retained for verification and reference purposes.

    About Belvedere:

    Belvedere Resources Ltd. is a publicly-listed resource company engaged in
the business of nickel production and exploring, discovering and developing
mineral wealth in Finland. Belvedere currently produces 2,200 tonnes annually
of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine
in Western Finland.

    Forward Looking Statement:

    Some of the statements contained herein may be forward-looking statement,
which involve known and unknown risks and uncertainties. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward-looking
statements that involve various degrees of risk. It is important to note that
the Company's actual results could differ materially from those in such
forward-looking statements.

    This statement is prepared by Dr. Toby Strauss, who is acting as
Qualified Person in compliance with National Instrument 43-101 with respect to
this release.

    
    BELVEDERE RE

SOURCES LTD. David Pym, CEO Suite No.404, Vancouver World Trade Centre 999 Canada Place, Vancouver. BC. V6C 3E2, Canada The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. %SEDAR: 00005717E

For further information:

For further information: David Pym (CEO) or Toby Strauss (COO) at (604)
844-2838 or visit www.belvedere-resources.com

Organization Profile

BELVEDERE RESOURCES LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890