BCM Resources Corporation: Exploration Update-Shan South Molybdenum Property, Terrace, B.C.
November 16 2011 - 6:29PM
Marketwired
BCM Resources Corporation (TSX VENTURE:B), the "Company", announces
the final results from the Phase 3 drilling program which commenced
mid-June 2011 and was completed mid-August. The program consisted
of 13 inclined and three vertical holes totaling 3,366.4 meters at
the South Shan Molybdenum discovery near Terrace BC. Drilling at
Shan South to date totals 12,598 meters.
The program had two main objectives, the first being to better
define and extend the Las Margaritas deposit and the second to
explore the surrounding area for possible faulted-off extensions or
for separate but similar areas of mineralization.
Seven of the sixteen holes drilled during the recent program
were directed to the Las Margaritas deposit, and all of these
intersected the molybdenum-bearing zone.
Holes LM043 to 046 and LM052 to 054 were infill holes designed
to test the continuity of mineralization within the Las Margaritas
deposit. These returned anticipated widths and grades with the best
intersection being 0.064% Mo over 189 meters in hole LM054,
beginning at a hole depth of 18 meters.
Hole LM052 is the most westerly hole drilled to date on the
known deposit. The hole passed through a zone of alternating
granodiorite and volcanics and includes a significant fault zone
with mineralization on both sides of the fault. The occurrence of
mineralization on both sides of the fault may indicate potential
for extending the deposit to the north and/or west of this drill
hole.
The Las Margaritas deposit remains open at depth and is also
open to the west where it encounters a major northwest-trending
fault. At a minimum, a further seven holes are proposed to test
these areas to a vertical depth of about 400 meters.
Known molybdenum mineralization is strongest within the
granodiorite adjacent to the contact with volcanic rocks.
Exploration drilling outside of the known limits of the Las
Margaritas zone was therefore directed towards similar contact
areas. Within the present area of interest, the contact runs
approximately east-west with the volcanics being to the south. The
contact is cut and offset by steeply-dipping northeast and
northwest-trending faults.
Holes LM048 and 049, collared directly east of the known
deposit, were inclined holes drilled in a southerly direction to
intersect the contact area. Although the contact area was
intersected, significant mineralization was not encountered. The
contact in both these holes was intersected sooner than expected
and future drill holes will be collared further north in order to
more adequately test the granodiorite adjacent to the contact.
Two vertical holes, LM057 and LM058, were drilled to the west of
known mineralization and separated from it by a significant fault
zone. Both holes were entirely within granodiorite adjacent to the
contact with volcanic rocks. These holes encountered no
mineralization and the granitic rocks were relatively fresh and
unaltered.
North of the Las Margaritas deposit, holes LM 050 and 051 were
collared within volcanics and drilled in a northerly direction.
These holes did not intersect the contact zone or encounter
mineralization.
Hole LM047 was collared approximately 1000 meters to the
northeast of the Las Margaritas Zone, near the old adit portal.
This inclined hole was drilled in a southeasterly direction and did
not intersect Mo mineralization but featured moderate to strong
potassium feldspar alteration of granodiorite throughout most of
its length. Hole LM055 and LM056, collared further to the southeast
featured similar potassium feldspar alteration but no molybdenum
values.
Shan South Property
2011 Diamond Drilling
EASTING NORTHING ELEVATION AZIMUTH INCLINATION
HOLE ID UTM UTM Meters degrees Degrees
LM043 536192 6058286 924.5 100 -46
LM044 536198 6058269 925.5 186 -45
LM045 536060 6058275 983 181 -46
LM046 536060 6058275 983 183 -61
LM047 536717 6059395 475 155 -45
LM048 536338 6058303 896 179 -46
LM049 536558 6058289 887 180 -46
LM050 535773 6058852 938 7 -46
LM051 535560 6058842 960 9 -46
LM052 535691 6058401 1055 185 -46
LM053 535922 6058283 995 185 -45
LM054 535922 6058283 995 185 -60
LM055 537058 6059205 585 160 -44
LM056 537058 6059205 585 N/A -90
LM057 535278 6058084 1112 2 -89
LM058 534610 6058257 1275 9 -88
Drill holes not specifically reported did not return significant molybdenum
values.
Significant Intervals were as follows:
----------------------------------------------------------------------------
DDH From To Length Mo
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(m) (m) (m) (%)
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LM043 27 39 12.0 0.043
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84 96 12.0 0.086
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LM044 5 63 58.0 0.06
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including 36 51 15.0 0.185
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and 42 54 12.0 0.209
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LM045 9 21 12.0 0.049
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57 96 39.0 0.038
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including 57 81 24.0 0.048
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and 57 69 12.0 0.06
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LM046 1 102 101.0 0.053
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including 27 81 54.0 0.072
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and 57 81 24.0 0.118
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93 105 12.0 0.081
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including 96 102 6.0 0.14
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LM046 159 171 12.0 0.03
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LM052 1 87 86 0.033
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including 54 87 33 0.058
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LM053 4.5 168 163.5 0.060
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including 24 45 21 0.114
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and 132 144 12 0.133
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LM054 18 207 189 0.064
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including 18 60 42 0.119
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including 39 60 21 0.150
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including 144 156 12 0.113
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SAMPLE QUALITY ASSURANCE AND CONTROL
All drill core recovered from the Phase 3 program was logged and
sampled in 3 meter intervals. Sample intervals were split in half
using a mechanical core splitter at the Company's core handling
warehouse in downtown Terrace. One half of the sample interval was
retained as a permanent record with the other half submitted to
AGAT Laboratories' sample preparation lab housed in an adjacent
building. Prepared sample pulps were forwarded to AGAT Laboratories
analytical facilities in Mississauga Ontario for the determination
of Mo and 42 additional major and trace elements by ICP.
Quality control was maintained by the insertion of sample
blanks, standards and core duplicates into the sample stream during
the sampling program.
QUALIFIED PERSONS
The summer 2011 exploration program was 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 Toll Free: 1 (888) 646-0144, ext.
223info@bcmresources.comwww.bcmresources.com
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