BCM Resources Corporation
TSX VENTURE : B

BCM Resources Corporation

August 29, 2011 08:00 ET

BCM Resources Corporation: Shan South Drill Program Update, Hole LM054 Encounters 42 Metres of 0.119% Mo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2011) - BCM Resources Corporation (TSX VENTURE:B), the "Company" is pleased to announce additional results from its recently completed drill program on the Shan South molybdenum Property. This program which commenced mid-June was completed mid-August. The program consisted of 13 inclined and three vertical holes totaling 3366.4 metres.

Results to date further confirm the molybdenum mineralization at the Las Margaritas Zone and further expand the zone both to the west and east. Significant intercepts of high-grade molybdenum mineralization were encountered throughout the Las Margaritas zone and beyond.

Previously announced (July 28, 2011) drill holes LM043 and LM044 were drilled to test the known eastern limits of the Las Margaritas Zone.

Drill holes LM052, LM053, LM054 were inclined holes drilled in a southerly direction on the west end of the Las Margaritas Zone. These holes extended molybdenum mineralization in the Las Margaritas zone westward.

Significant Intercepts are as follows:

DDH From To Length Mo
(m) (m) (m) (%)
LM054 18 207 189 0.064
including 18 60 42 0.119
including 39 60 21 0.150
including 144 156 12 0.113
LM053 4.5 168 163.5 0.060
including 24 45 21 0.114
and 132 144 12 0.133
LM052 1 87 86 0.033
including 54 87 33 0.058

LM050 and 051 were inclined holes located 400 to 500 metres north of the west-end of the Las Margaritas Zone. Both holes were drilled in a northerly direction and were entirely within volcanic rock where molybdenum values were low. Further drilling is planned from these locations with drill holes aimed in a southerly direction.

LM048 and 049 were inclined holes drilled to test the granodiorite-volcanic contact zone several hundred metres east of the Las Margaritas zone and did not encounter significant values. It is planned to drill beneath these holes from locations further north to properly test the contact zone.

LM047, an inclined hole collared near the adit portal, featured significant potassium feldspar alteration. Although molybdenum values were low, the contact zone was not reached and further drilling is highly recommended for this area. Historical records of previous work in this adit (circa 1935, predating NI 43-101) report numerous quartz veins with visible molybdenum and containing assay values of up to 0.42% Mo. In 2007, rock samples collected by Company geologists from dumps adjacent to the adit portal returned assay values of up to 0.29% Mo.

The Company is very pleased with the results of this program, which expands the Las Margaritas Zone, and demonstrates that molybdenum mineralization starts near surface. The holes drilled were relatively shallow, however, and further drilling is planned to further test the extent of mineralization at depth. 2007 drill hole LM027 bottomed at a vertical depth of 250 meters in excellent grade molybdenum (17 m of 0.155% Mo). There is potential for molybdenum mineralization at greater depths.

This drill 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. ext 223
    info@bcmresources.com / www.bcmresources.com