Bell Resources Corporation
TSX VENTURE : BL

Bell Resources Corporation

November 06, 2007 08:00 ET

Drilling Suggests Major Cu-Mo Porphyry System Under Bell's Kabba Land Holdings

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2007) - Bell Resources Corporation (TSX VENTURE:BL) is pleased to report that based on the results from the recently completed four-hole diamond drilling program at its Kabba Project in Mohave County, Arizona the Company believes that a major Cu-Mo porphyry system lies under shallow cover on its land holdings. Follow-up drilling is being planned.

The Phase I drill program at Kabba consisted of four diamond holes drilled to an average depth of approximately 900 metres for a total of 3630 meters and targeted a down-faulted, major copper-molybdenum porphyry system (4.5 km by 6.5 km). The target at Kabba is covered by varying thicknesses of gravel and all four holes were drilled blind on a conceptual geological target supported by geophysics. The main target at Kabba is a hypothetical copper-rich ore shell located in the hangingwall block of a major east-dipping normal fault, termed the Hualapai fault. The Hualapai fault truncates the eastern side of an outcropping porphyry system in the footwall block, which displays hydrothermal alteration typical of the deep roots of major porphyry Cu-Mo systems. The fault has been traced 5 kilometers eastward under gravel cover using a seismic reflection survey. For a conceptual cross section compiled from the Phase I drilling at Kabba please go to: http://www.bellresources.com/s/Kabba.asp.

Drill Summary

All four drillholes showed geological indications of proximity to a porphyry copper-molybdenum system such as sericitic or potassic alteration or sulfide mineralization. The drillholes were spread over an area of 1.3 kilometers by 3.3 kilometers, reflecting the large size of the target and the large magnitude of horizontal slip on the Hualapai fault, the principal fault that has decapitated the porphyry Cu-Mo system. The distance between holes K-1 to K-2 was 1.3 kilometers heading east. The distance between holes K-2 to K-4 was 1.8 kilometers, in the same easterly direction.



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Depth to Total
Drillhole Bedrock Depth Notes
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K-1 645 m 914 m Footwall block - widespread potassic
alteration. Sparse chalcopyrite and pyrite.
Ended in quartz monzonite porphyry.
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K-2 610 m 837 m Hangingwall block - postmineral basalt
capping widespread weak fluorite-pyrite
mineralization disseminated in Precambrian
granite.
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K-3 506 m 826 m Footwall block - common low grade
molybdenite, common intense sericitic
alteration, ended in quartz monzonite
porphyry. Intersected 90 meters averaging
0.014% Mo.
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K-4 101 m 1053 m Hangingwall block - strong exotic iron oxide
staining up to 180 meters below top of
bedrock, widespread sericitic alteration with
disseminated pyrite, local breccia intervals
with strong arsenic, mercury, thallium, zinc,
nickel, and lead anomalies, and more than 20
altered porphyritic dikes. Samples submitted
to laboratory for Au-Ag fire assay.
--------------------------------------------------------------------------


Drillholes K-1 and K-3 cut the footwall block of the faulted porphyry system 1.0 and 1.3 kilometers, respectively, east of the outcropping quartz monzonite porphyry. K-3 was sited 1.3 kilometers north of K-1. Both of these holes cut altered and mineralized quartz monzonite porphyry, demonstrating that the outcropping part of the footwall mineralization represents only a fraction of the east-west extent of the porphyry system. The rest of the footwall block of the porphyry system extends eastward beneath the Hualapai fault under gravel cover. Molybdenum assays in K-3 showed up to 90 meters grading 0.014% Mo at depths between 644 m and 734 m hosted by strongly sericitized quartz monzonite porphyry. This intersection is interpreted to be part of the relatively barren root zone of the porphyry system in the footwall block of the Hualapai fault. Drillhole K-1 intersected sparse, blebby copper mineralization as chalcopyrite and pyrite associated with locally intense potassic alteration, also interpreted to be typical of the root zone of the porphyry system. Both holes showed rare-earth enriched fluorapatite, a common accessory mineral in fluorine-rich porphyry systems.

Drillhole K-2 was the first hole in the program to successfully penetrate the hangingwall block of the Hualapai fault, wherein the target is expected to be found. The position of K-2 in the hangingwall block was confirmed by the presence of 80 meters of post-mineral basalt capping Precambrian granitic bedrock. A single 10-meter-thick porphyry dike was cut in K-2 at a depth of 774 meters. Hydrothermal alteration was largely absent in this hole, suggesting a distal position from the target. Precambrian granite in the hole was identical to granite in the footwall block, but in a position well west of the targeted porphyry system. Consequently, the final hole in the program was sited 1.8 kilometers east of K-2.

Drillhole K-4 intersected hydrothermally altered and weakly mineralized granite at a surprisingly shallow depth beneath only 101 meters of gravel cover. This drillhole is believed to have penetrated the outer barren pyritic shell of a major porphyry Cu-Mo deposit. Strong exotic iron oxides were seen coating fracture surfaces in the bedrock for 180 meters in depth, followed by variably sericitized granite and strongly altered andesitic porphyry dikes throughout the rest of the 1053-meter-deep hole. A swarm of more than 20 altered porphyritic dikes was cut in the hole. Sericitized and quartz-veined Precambrian granite carried disseminated pyrite and locally anomalous lead, zinc, arsenic, copper, and nickel, typical of values seen in the outer pyritic fringes of major porphyry Cu-Mo systems. Veinlets having texturally destructive sericitic envelopes (D-veins) were present in many places throughout the hole. At least two hydrothermal breccia intervals were cut by the hole; both carried highly anomalous arsenic, thallium, and mercury. These intervals were sampled and transmitted to a laboratory for gold-silver fire assays.

Future Drilling

As a result of the favorable outcome in drillhole K-4, a new site has been selected for drilling 1.2 kilometers east of the thick alteration package and porphyry dike swarm encountered in drillhole K-4. Thickness of gravel cover is expected to diminish in this direction. The URS Corporation has completed a satisfactory archaeological survey of the proposed drill site, the federal government has approved the site for drilling, and the site construction has been completed. Drilling at this site and four others will take place when the contracted Layne Christensen drill rig is next released from Bell's other Arizona projects.

The Kabba land package is approximately 8 kilometers (E-W) by 5 kilometers (N-S), where Bell controls unpatented mining claims, state mineral exploration permits, and mineral leases covering more than 9000 acres on the highly productive Copper Creek-Resolution-Bagdad porphyry trend in Arizona.

Timothy Marsh, Bell's VP of Exploration, is the Qualified Person on the Kabba Project.

On September 4, 2007, Bell announced it had entered into a proposed business combination with Rogue River and Grandcru Resources Corporation ("Grandcru") (TSX VENTURE:GR), whereby the three companies will amalgamate to form one company and collectively benefit from the exploration potential of Bell and Grandcru's copper exploration assets and the near term production potential of Rogue River's La Balsa project.

About Bell Resources Corporation

Bell Resources is focused on the exploration and development of a diversified portfolio of copper base metal projects, with the most advanced being the past-producing Granduc Mine. The Company's strategic plan is focused on moving assets toward potential production, while continuing to target new acquisitions based on geological potential and economic viability. For further information on Bell Resources visit www.bellresources.com.

On Behalf of the Board of Directors of Bell Resources Corporation

W. Glen Zinn, CEO, President & Director

For further information please contact the Company Tel: 604 669-1484 or email: info@bellresources.com.

Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

The TSX Venture Exchange has not reviewed and does not accept Responsibility for the adequacy or accuracy of this release.

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