BCM Resources Corporation
TSX VENTURE : B

BCM Resources Corporation

October 01, 2007 09:00 ET

BCM Resources: Phase 3 Drilling Commences

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2007) - BCM Resources Corporation (TSX VENTURE:B) is pleased to announce the commencement of its Phase Three diamond drill program at its Shan Molybdenum property. A minimum of 8 holes totaling approximately 2500 meters is planned. The principal target areas will be the north extension of Shan South (Triangle target area) and the Banana Lake target area located at Shan North.

The Triangle target area is located on the north side of the south ridge, (north of the area drilled over the previous two drill programs). Recon work in this area, completed this past summer, revealed steeply east-dipping NNW shear zones with grey fault gouge including molybdenite, pyrite and quartz veining. Also observed are a set of gently north-dipping molybdenum-quartz veins. Historical soil surveys indicate good values throughout this area and mineralized veins outcrop in the creeks that roughly bound the area. 3-D modeling of data obtained from the aeromag survey completed this past summer confirms that favorably altered rocks (with magnetite destruction) extend throughout the area.

Additionally, historical reports regarding an adit (circa 1935), located at Shan South (which extends into the Triangle area), indicate that a series of altered and pyritized steeply east-dipping NNW shears (like those found at the surface) were observed over most of the length of the adit (which extends for approximately 500 meters into the south ridge). Narrow quartz veins with visible molybdenum were reported and assayed, showing values of up to 0.42% Mo. The shear zones were sampled for gold and silver but were not assayed for molybdenum because the geologists at the time did not recognize the appearance of molybdenum in them, which is not always very obvious in these zones. However, material from these zones (encountered in the dumps outside the historical adit during this past summer's recon program) strongly resembles the grey molybdenum bearing gouge appearing in structures at surface and encountered during previous drill programs; where it was found to contain up to 0.8% Mo.

This past summer, three samples were taken of the grey rocks from the adit dumps. Assay results for two of the samples were over 0.2% Mo (re-assays are pending). The third sample (interestingly the only one with definite visible molybdenum) ran 0.13% Mo. Two additional quartz vein samples from the dump, with some visible molybdenum, ran 0.012% and 0.025% Mo. The grey rocks from the dump are too large to represent the narrow quartz veins described in the reports on the adit, and it may be concluded that the best molybdenum mineralization is located in the broader shear zones where it was not previously recognized.

The Company plans to drill a minimum of four holes comprising approximately 1300 m in the Triangle zone during this program (the area to be tested is a triangle 700 m N/S and 700 m E/W across the base).

The Banana Lake target area, located at Shan North, appears to be controlled by NW trending, steeply east-dipping mineralized structures, as well as potentially gently-dipping veins. While the zone is mostly covered by muskeg, some outcrop and float with molybdenum has been observed. Historically, there are relatively high molybdenum content soil samples from a 1980 survey across the area (similar to those found over the area already drilled at the south ridge from the same survey).

3-D modeling of data obtained from the aeromag survey completed this past summer indicates permissive alteration (magnetite destruction) throughout the zone to a depth of 300-400 m below surface. Silt samples from the stream draining the target area have metal values for molybdenum and other elements similar to the silt samples from the creek draining the area drilled at the south ridge. A minimum of 4 drill holes comprising approximately 1200 m will be drilled to test this zone. The area to be tested is over 1000 m long by 400 m wide.

Qualified Person:

Daryl Hanson, P.Eng. who is a Qualified Person as defined in NI 43-01, has reviewed the technical content of this news release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BCM Resources Corporation
    Dale McClanaghan
    President & CEO
    (604) 646-0144
    Website: www.bcmresources.com