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October 27, 2011

 

Bisha Mining Drills 37.5m of 8.26% Copper Adjacent to Bisha Mine.

 

Bisha Mining Share Company (BMSC) is pleased to report the assays from the final four diamond drill holes from the hanging wall copper phase one drilling at the Bisha Deposit.  These four holes were delayed due to mining operations in the area.

 

Highlights

  • Extension of Bisha Main Sulphide Lens
  • Near surface copper mineralization adjacent to Bisha Main deposit
  • Likely additional feed for Bisha supergene copper phase

Select High Grade Results Include:

  • Hole B-464 – 37.5m at 8.26% Cu, from 31.5 meters to 69.0 meters
  • Hole B-465 – 12.0m at 1.29% Cu, from 76.0 meters to 88.0 meters

 

Drill holes B-464 and B-465 intersected the same supergene sulphide lens that was intersected by drill hole B-395 and B-396 that were previously reported in the press release issued August 31, 2011.  Drill hole spacing is approximately 50m x 50m.  The sulphide lens appears to be an extension of the northwest lens of Bisha that was faulted off and is not included in currently disclosed resources. 

 

Detailed results are in the following table together with a map of the hole locations. 

 

Hole ID

From

(m)

To

(m)

Interval

(m)

Au

(ppm)

Ag

(ppm)

Cu

(%)

Zn

(%)

Azimuth

Dip

Zone

B-463

49.50

61.50

12.00

0.01

1.00

0.79

0.02

270

-45

HW Cu

incl.

58.50

61.50

3.00

0.01

1.00

1.54

0.02

 

 

HW Cu

B-464

31.50

69.00

37.50

0.58

32.27

8.26

0.10

270

-90

Supg

Incl.

40.50

51.00

10.50

0.98

70.14

16.99

0.04

 

 

Supg

and

58.10

61.80

3.70

1.16

70.00

26.50

0.23

 

 

Supg

B-465

45.00

64.00

19.00

0.04

1.95

0.58

0.02

270

-45

HW Cu

Incl.

57.50

64.00

6.50

0.09

3.77

1.12

0.02

 

 

HW Cu

And

76.00

88.00

12.00

0.56

16.75

1.29

0.01

 

 

Supg

B-466

43.50

109.50

66.00

0.01

1.07

0.50

0.03

270

-45

HW Cu

Incl.

43.50

46.50

3.00

0.01

2.50

2.28

0.01

 

 

HW Cu

and

81.00

84.00

3.00

0.01

1.00

1.48

0.03

 

 

HW Cu

Note. True thickness is estimated at approximately 90% of the drill intervals reported in the table.

 

Phase II drilling of the hanging wall copper zone, designed to further infill drill the zone as well as the newly identified lens is complete and assay results are expected later in Q4.

 

The Company also completed a 16,000 meter diamond drill program on the Bisha Main deposit below the existing planned pit.  Final results of this drill program are expected soon with a second resource and reserve re-statement now targeted for Q1 2012.  BMSC had previously guided Q4 2011 but has pushed back the date due to additional drilling follow-up on the above and availability of third party engineers.

 

Forward Looking Statements:  The above contains statements regarding positive drill results, near term additional drill results and anticipated resource and reserve re-statement.  Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievementsForward-looking statements are frequently, but not always, identified by words such as “expects,” “anticipates,” “believes,” “intends,” “estimates,” “potential,” “possible” and similar expressions, or statements that events, conditions or results “will,” “may,” “could” or “should” occur or be achieved.  Forward-looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors.  The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and the Company assumes no obligation to update such forward-looking statements in the future.

 

Bisha Mining Share Company

“Cliff T. Davis”

Cliff T. Davis
Chairman


Drill Map HWC Oct 2011