BCM Resources Corporation Resumes Drilling at Shan South Molybdenum Discovery
20 June 2011 - 11:07PM
Marketwired
BCM Resources Corporation (TSX VENTURE: B), the "Company", is
pleased to announce it has resumed drilling at its flagship Shan
South molybdenum discovery located 20 kilometres north of Terrace,
B.C.
Initial plans are for approx.3500 metres of diamond-drilling to
test the extent of molybdenum mineralization to the East, West and
North of the Las Margaritas discovery.
To date the Company has conducted approximately 10,000 metres of
diamond-drilling to test the Las Margaritas, Camp, and Triangle
zones on the Shan South property, the majority of which was focused
on the Las Margaritas zone. Significant intercepts were encountered
in all three zones and all holes drilled to date at the Las
Margaritas and Camp Zones encountered visible molybdenum
mineralization. All but five of the thirty-six holes completed to
date at these two zones contained sample intervals with values of
at least 0.06% Mo.
Significant drill intercepts from previous drilling at the Las
Margaritas zone include the following:
-- Hole # 1 - 59.65 metres with an average grade of 0.118% Mo, including
20.8 metres of 0.189% Mo. This mineralized interval started at approx.
18 metres below surface.
-- Hole # 7 - 122.8 metres with an average grade of 0.107% Mo, including
36.6 metres of 0.183% Mo which started at approx. 29 metres below
surface.
-- Hole # 27 - 190.6 metres with an average grade of 0.103% Mo, including
106.1 metres with an average grade of 0.119% Mo (111.4-217.5 metres
depth). This hole bottomed in excellent grade molybdenum 250 metres
below surface (true depth) where a 17.35 metre interval averaged 0.155%
Mo. The upper mineralized interval in this hole started at approx.66
metres below surface.
The Mo mineralization identified to date is open in all
directions and to depth.
The previous drill program at Las Margaritas concentrated on an
area 450 metres by 110 metres by 250 metres depth. The current
program is designed to test the extent of molybdenum mineralization
over a 4 by 2 kilometre area where previous geochemical exploration
work identified molybdenum mineralization at surface.
To further test the extent and depth of molybdenum
mineralization at Shan South, plans are to drill at least one hole
nearby an adit portal which is located approx.1500m northeast of
the Las Margaritas discovery zone and about 500 metres vertically
below. Historical records of previous work within this adit (circa
1935, predating NI 43-101) contain references to numerous quartz
veins with visible molybdenum mineralization and assay values of up
to 0.42% Mo. Rock samples collected by Company geologists in 2007
from dumps adjacent to the adit portal returned assay values of up
to 0.29% Mo.
A key advantage of the Shan South property is its excellent
access to infrastructure. Alongside the eastern flank of the
property are a major highway (Hwy 16), waterway and
transcontinental railway with direct rail access to the nearby
deep-water ports of Kitimat (80 km) and Prince Rupert (163 km). A
network of logging roads connecting to Hwy 16 run throughout the
property area and high-power transmission lines are within 4 km. A
skilled work-force is readily available in nearby Terrace, a
community which welcomes mineral exploration and mine
development.
The summer 2011 exploration program will be supervised by Jim
Hutter, P.Geo., a geologist with 35 years experience in British
Columbia, Geological Consultant to BCM Resources and a Qualified
Person as defined by NI 43-101,consultant to the Company.
The technical content of this news release has been reviewed by
N.C. Carter Ph.D, P.Eng., Geological Advisor to BCM Resources
Corp., and a Qualified Person as defined by National Instrument
43-101.
About BCM Resources Corporation
BCM Resources Corp. is a Vancouver-based mineral exploration
company, dedicated to advancing its Shan South molybdenum discovery
into an economic deposit. Additionally, the Company has a
significant land package of 100% owned mineral claims comprising
another five, highly-prospective, molybdenum and other base &
precious metals exploration properties located near Terrace,
B.C.
On Behalf of the Board of Directors:
Dale McClanaghan, President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: BCM Resources Corporation Dale McClanaghan President
& CEO 1 (604) 646-0144 ext 224 BCM Resources Corporation
Deborah Goldbloom, Corporate Communications 1 (604) 646-0144, ext.
223 or Toll Free: 1 (888) 646-0144, ext 223 info@bcmresources.com
www.bcmresources.com
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