BCM Resources Corporation
TSX VENTURE : B

BCM Resources Corporation

November 16, 2011 19:29 ET

BCM Resources Corporation: Exploration Update-Shan South Molybdenum Property, Terrace, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2011) - 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
HOLE ID EASTING
UTM
NORTHING
UTM
ELEVATION
Meters
AZIMUTH
degrees
INCLINATION
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
(m ) (m ) (m ) (% )
LM043 27 39 12.0 0.043
84 96 12.0 0.086
LM044 5 63 58.0 0.06
including 36 51 15.0 0.185
and 42 54 12.0 0.209
LM045 9 21 12.0 0.049
57 96 39.0 0.038
including 57 81 24.0 0.048
and 57 69 12.0 0.06
LM046 1 102 101.0 0.053
including 27 81 54.0 0.072
and 57 81 24.0 0.118
93 105 12.0 0.081
including 96 102 6.0 0.14
LM046 159 171 12.0 0.03
LM052 1 87 86 0.033
including 54 87 33 0.058
LM053 4.5 168 163.5 0.060
including 24 45 21 0.114
and 132 144 12 0.133
LM054 18 207 189 0.064
including 18 60 42 0.119
including 39 60 21 0.150
including 144 156 12 0.113

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.

Contact Information

  • 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. 223
    info@bcmresources.com
    www.bcmresources.com