bcMetals Corporation

bcMetals Corporation

June 16, 2005 17:21 ET

bcMetals Corporation: Alaska Range Minerals Corporation-Johnson Project NI 43-101 Technical Report

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 16, 2005) - bcMetals Corporation (TSX VENTURE:C) has filed its NI 43-101 Technical Report relating to the Johnson Project and Alaska Range Minerals Corp. ("ARMC") Option Agreement on www.sedar.com and bcMetals website www.bcmetalscorp.com (refer to the Company's News Release dated 13 June, 2005). The Company's Consulting Geologist and Qualified Person under National Instrument 43-101, and author of the report, is Curtis J. Freeman, BA, MS, CPG #6901, AA#159 of Fairbanks, Alaska.

The Johnson Project consists of 5,680 acres (2,300 Ha) in 37 State of Alaska mining claims. Within this claim block are several showings of high grade mineralization, each of which represents a possible drill target as follows:

1. Verona Pick and Woody. These two prospects with massive sulphides with values ranging up to 21.8% Zn, 5.62% Pb, 32.3 gpt Ag and 4.97 gpt Au. (Verona Pick) and up to 5.7% Cu, 7.01% Zn, 1.3% Pb, 96.9 gpt Ag and 5.58 gpt Au.(Woody), suggest a volcanogenic origin ("VMS") of the possible Kuroko or Besschi type. Mineralized float in glacial moraine in the intervening approximately 1,000m between Woody and Verona Pick is reported, suggesting possible continuity. Cu values increase from Verona Pick to the Woody Prospect. The Company target here is to prove up a high grade open pit/underground deposit(s).

2. Emerick and Forbes. These two prospects, approximately 1,500m apart on approximately NW strike, exhibit high grade Ni, Cu, PGE mineralization in an ultramafic intrusive (sampling has returned values up to 6.3% Ni, 2.2% Cu, 0.22% Co, 1.17 gpt Pt, 2.28 gpt Pd (Emerick) and up to 5.4% Ni, 4.13% Cu, 0.11% Co, 1.1 gpt Pt, 1.0 gpt Pd at the Forbes Prospect). Reported analogs are the Wellgreen Mine, Yukon, that produced 669,150 tonnes averaging 2.23% Ni, 1.39% Cu, 0.073% Co, and 2.15 gpt Pt + Pd; and the Noril'sk deposit, Russia, with reported reserves of 550 Mt grading 2.7% Ni, 3.9% Cu, 3.0 gpt Pt and 12 gpt Pd (Refer Freeman, Executive Summary Report for the Johnson Project, Delta River Mining District, Alaska, May 10, 2005, pp 14, 15).

3. Red Knob and Plateau. The Company's target here is a large bulk tonnage open pit mineable copper deposit. Vein structures carrying high grade Cu mineralization (to 11.9%Cu) cut andesite containing pyrite and minor chalcopyrite.

4. BLM deposit. This deposit was found and sampled by the U.S. Bureau of Land Management during their 2001 to 2004 Delta River Mining District study encompassing the Johnson claims. The BLM reported one high Cu value in a selected grab sample of 17.5%Cu. The Company has yet to review this showing to determine possible geologic model.

The Company has a team of two geologists and a technician conducting field mapping, soil geochem and outcrop sampling and has already laid out drill targets for the Emerick deposit. A drill from Layne Christensen Company, Fairbanks will arrive on the property on Saturday June 18.

Red Chris Update

The Company expects the referral of the Red Chris Environmental Assessment Report to the Ministers for approval prior to the end of July and is awaiting announcement by the Provincial Government of the extension of the North American power grid from Meziadin Junction to Iskut. Forecast production from the Red Chris Feasibility Study, completed by AMEC Americas, Inc., is summarized in the following table:

Recovered Concen-
Ore tpd Ore Mt Cu Au to trate
Schedule tpd Mt % gpt Cu lbs Au oz
1st 5 yrs 30,000 54.75 0.49 0.358 523,855,000 358,023
1st 10 yrs 30,000 109.5 0.454 0.349 968,290,100 676,932
17 yrs open pit
mining 186.15 0.414 0.325 1,486,948,000 1,030,500
Life of Mine ore
processed -
25 years 275.9 0.349 0.266 1,852,004,278 1,186,838
LOM recoveries 87.20% 50.25%

Cash operating costs; 1st 5 years C$6.79/tonne milled; 1st 10 years C$6.97/tonne milled. 1st 5 year average Cash Cost per lb Cu with Au credit is US$0.30/lb at $1.10/lb Cu, $375/oz Au, $5.50/oz Ag; US$0.75 equals CDN$1.00; Off site realization costs estimated at US$0.35/lb Cu and Capital at US$0.12/lb Cu. 17 year mine stripping ratio 2.3:1; LOM SR (25 years) equals 1.1:1

Ian Smith, President & CEO

This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • bcMetals Corporation
    Ian Smith
    President & CEO
    (604) 683-0140
    (604) 683-0126 (FAX)