TEMPE, Ariz., May 17, 2011 /PRNewswire/ -- Big Bear Mining Corp (OTCBB: BGBR) is pleased to announce the 2011 exploration plans for its portfolio of projects, which includes the Lewiston Mining District and Rattlesnake Hills projects, both in Wyoming, and the Red Lake projects in Western Ontario.
Big Bear Mining Corp's plans are outlined as follows:
Lewiston Mining District, Fremont County, Wyoming: Management intends to use historical data and geologic mapping in order to carry out high level structural analysis, surface prospecting, and magnetic and induced polarization surveys to identify targets so that an initial drilling program can be completed by the end of 2011. Initially, seven to ten shallow core holes are planned to test unconfirmed high grade gold findings associated with several historic prospects and small mines, as well as possible new targets generated from the surface exploration program. This program will be the first drilling ever initiated in this district.
Rattlesnake Hills, Natrona County, Wyoming: Evolving Gold recently announced a $76M joint venture agreement with Agnico - Eagle Mines to complete feasibility studies at the North Stock and Antelope Basin areas where gold mineralization is hosted in geologic settings similar to those encompassed on the adjacent Big Bear Mining Corp property. Additional geologic reconnaissance and overburden auger sampling will be conducted to better define existing drill targets on Big Bear's Dry Creek claims, whose proximity is less than 6,000 feet from the North Stock gold mineralization. On Big Bear's Barlow Gap claims, alteration, breccia pipe development and areas containing anomalous silver will be further evaluated for gold mineralization utilizing targeted soil surveys. Efforts will also be made to expand surface work in previously unexplored parts of the extensive Big Bear property position. With similar geological signatures and features to Evolving Gold's discoveries, Big Bear is committed to the expeditious and prudent development of this land package. The work in this area is targeted for completion by early 4th quarter with results to follow shortly thereafter.
Red Lake Mining Division, Birch Uchi Region Western, Ontario: Continued activity in the Red Lake area, marked by the ongoing work of Gold Canyon, Rubicon, Confederation Gold, and Gold Corp (which operates Canada's largest producing gold mine) clearly dictates to management the need to do additional reconnaissance on each of Big Bear Mining Corp's three land packages in anticipation of developing future drill targets. Significant new claim acquisitions and positive results from current competitor drilling programs are occurring on an ongoing basis, making this a highly prospective target. Big Bear Mining Corp will work to continue exploration of its Sol D'or Mine, Shabu and Skinner claims through line cutting, detailed mapping and measured sampling, and geophysical surveying for high grade gold mineralization. Work should be completed by the end of 3rd quarter with results to follow shortly thereafter.
CEO Steve Rix stated, "We believe that the 2011 exploration season represents a pivotal time in the history of our company and could create significant value for shareholders. We have a diversified portfolio of projects and look forward to commencing work on each."
About Big Bear Mining Corp:
Big Bear Mining Corp is a U.S. based exploration company, focused on the acquisition and development of gold and other precious commodity projects that are economically viable and geologically compelling. Big Bear is a fully reporting company quoted on the OTCBB under the symbol BGBR.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, that the Lewiston Mining District acquisition will provide the company with diversification and value for shareholders, and any additional exploration efforts or results in regards to Rattlesnake Hills by Evolving Gold.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Big Bear Mining Corp