BCM Resources Corporation
TSX VENTURE : B

BCM Resources Corporation

June 20, 2011 09:07 ET

BCM Resources Corporation Resumes Drilling at Shan South Molybdenum Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 20, 2011) - BCM Resources Corporation (TSX VENTURE:B), the "Company", is pleased to announce it has resumed drilling at its flagship Shan South molybdenum discovery located 20 kilometres north of Terrace, B.C.

Initial plans are for ~3500 metres of diamond-drilling to test the extent of molybdenum mineralization to the East, West and North of the Las Margaritas discovery.

To date the Company has conducted approximately 10,000 metres of diamond-drilling to test the Las Margaritas, Camp, and Triangle zones on the Shan South property, the majority of which was focused on the Las Margaritas zone. Significant intercepts were encountered in all three zones and all holes drilled to date at the Las Margaritas and Camp Zones encountered visible molybdenum mineralization. All but five of the thirty-six holes completed to date at these two zones contained sample intervals with values of at least 0.06% Mo.

Significant drill intercepts from previous drilling at the Las Margaritas zone include the following:

  • Hole # 1 - 59.65 metres with an average grade of 0.118% Mo, including 20.8 metres of 0.189% Mo. This mineralized interval started at ~ 18 metres below surface.
  • Hole # 7 - 122.8 metres with an average grade of 0.107% Mo, including 36.6 metres of 0.183% Mo which started at ~ 29 metres below surface.
  • Hole # 27 - 190.6 metres with an average grade of 0.103% Mo, including 106.1 metres with an average grade of 0.119% Mo (111.4-217.5 metres depth). This hole bottomed in excellent grade molybdenum 250 metres below surface (true depth) where a 17.35 metre interval averaged 0.155% Mo. The upper mineralized interval in this hole started at ~66 metres below surface.

The Mo mineralization identified to date is open in all directions and to depth.

The previous drill program at Las Margaritas concentrated on an area 450 metres by 110 metres by 250 metres depth. The current program is designed to test the extent of molybdenum mineralization over a 4 by 2 kilometre area where previous geochemical exploration work identified molybdenum mineralization at surface.

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 records of previous work within this adit (circa 1935, 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.

A key advantage of the Shan South property is its excellent access to infrastructure. Alongside the eastern flank of the property are a major highway (Hwy 16), waterway 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 will be 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
    or Toll Free: 1 (888) 646-0144, ext 223
    info@bcmresources.com
    www.bcmresources.com