BCM Resources Corporation
TSX VENTURE : B

BCM Resources Corporation

July 28, 2011 16:45 ET

BCM Resources Corporation Reports Molybdenum Drill Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2011) - BCM Resources Corporation (TSX VENTURE:B), the "Company", is pleased to announce the initial analytical results from the current diamond drilling program at its flagship Shan South molybdenum (Mo) discovery located 20 kilometres north of Terrace, B.C.

Drilling commenced June 20th and approximately 2,500 metres have been completed to date. Several additional holes are planned as part of the initial 2011 drill program.

The objectives of the drill program are twofold: 1) complete several infill holes to better define the extent and grades of Mo mineralization within the main Las Margaritas zone, and 2) to test the tenor and extent of molybdenum mineralization adjacent to the Las Margaritas zone by completing step-out holes to the east (peripheral to the Camp Zone), west (including the highly prospective Shan Fault Offset Zone) and north in the vicinity of a historic underground adit. The Mo mineralization identified to date is open in all directions and to depth.

Highlights of the first four holes of infill drilling within the Las Margaritas area are as follows:

Shan 2011 Drilling Results
Hole Interval (meters) Length (meters) Mo (%)
LM 043 27.0 - 39.0 12.0 0.043
84.0 - 96.0 12.0 0.086
LM 044 5.0 - 63.0 58.0 0.06
including 36.0 - 51.0 15.0 0.185
and 42.0 - 54.0 12.0 0.209
LM 045 9.0 - 21.0 12.0 0.049
57.0 - 96.0 39.0 0.038
including 57.0 - 81.0 24.0 0.048
and 57.0 - 69.0 12.0 0.06
LM 046 1.0 - 102.0 101.0 0.053
including 27.0 - 81.0 54.0 0.072
and 57.0 - 81.0 24.0 0.118
93.0 - 105.0 12.0 0.081
including 96.0 - 102.0 6.0 0.14
LM 046 159.0 - 171.0 12.0 0.03

LM043 and LM044, both collared from the same drill pad and drilled to hole depths of 125 metres, were intended to test the known eastern limits of the Las Margaritas Zone. LM043 was drilled at an azimuth of 108 degrees and LM044 at 185 degrees and both were inclined at -45 degrees.

Within the granodiorite intrusive, DDH LM043 encountered 12 metres of 0.043% Mo from 27 to 39 metres depth. This hole also intersected 12 metres grading 0.086% Mo within volcanic rocks between hole depths of 84 and 96 metres; this interval also included a 3 metres section (93 – 96 metres) grading 0.218% Mo. This is considered to be significant as previously encountered higher Mo grades have been restricted to granodiorite host rocks.

DDH LM044 returned 0.060% Mo from the top of bedrock at 5 metres to a depth of 63 metres, including 12 metres of 0.209% Mo between 42 and 54 metres. The main body of volcanic rocks was encountered at a depth of 56 metres.

LM045 and LM046 were infill holes collared about 140 metres to the west of LM043 and LM044. Both holes were drilled from the same site and same azimuth of 185 degrees. LM045 was inclined at -45 degrees and LM046 at -60 degrees; hole depths were 197 and 201.7 metres respectively.

LM046, the more steeply inclined hole, passed through the volcanic sheet into granodiorite at a depth of 21.2 metres. This hole returned 101 metres of 0.053% Mo from a depth of 1metre to 102 metres and included 24 metres of 0.118% Mo between 57 and 81 metres.

Other Targets of the Current Drilling Program

Previous drilling of the Las Margaritas Zone was concentrated in an area measuring 450 by 110 metres and to a depth of 250 metres. The current program is designed to test the extent of molybdenum mineralization over a 4 by 2 kilometre area within which previous geochemical exploration work identified anomalous molybdenum values. Las Margaritas is located at the heart of this area.

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 ~1500m northeast of the Las Margaritas discovery zone and about 500 metres vertically below. Historical government records of previous work within this adit (circa 1935 and therefore 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.

Location and Infrastructure

A key advantage of the Shan South property is its proximity to excellent infrastructure. Adjacent to the eastern part of the property are a major highway (Hwy 16), waterway (Skeena River 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 is being 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.

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