bcMetals Corporation
TSX VENTURE : C

bcMetals Corporation

November 10, 2006 13:04 ET

bcMetals Reports Latest Red Chris Drill Program Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 10, 2006) - bcMetals Corporation (TSX VENTURE:C) reports the latest results from the Company's recently completed verification and exploration drill program on its Red Chris porphyry copper/gold project in Northwestern BC. Of the planned approx. 7,000 meter (m) program, 14 holes were completed totaling 4,676 m before drilling was terminated due to the loss of the source of drilling water with the onset of winter. Assay results for four of the completed holes have not yet been received and will be reported when available.

The following table shows significant assay intervals over 0.20% Cu.



Zone Hole ID From To Length Cu Au
m m m % gpt
-----------------------------------------------------------
East 06-326 53.0 135.3 82.3 1.60 1.30
162.8 187.2 24.4 0.27 0.23
239.0 263.4 24.4 0.28 0.25
Main 06-322 4.6 32.0 27.5 0.93 0.80
96.1 123.5 27.5 0.53 0.46
160.1 190.6 30.5 1.50 1.16
260.8 297.4 36.6 0.38 0.06
318.5 324.6 6.1 0.23 0.06
Gully 06-323 26.4 56.9 30.5 0.31 0.23
66.0 87.4 21.4 0.30 0.26
90.0 130.8 40.8 0.56 0.30
161.2 231.3 70.1 0.74 0.64
270.4 289.9 19.5 1.63 0.28
307.6 328.6 21.0 0.50 0.71
335.0 359.4 24.4 0.37 0.46
408.1 413.9 5.8 0.30 0.36
435.3 441.4 6.1 0.55 0.53
06-325 258.8 264.9 6.1 0.28 0.27
283.2 334.4 51.2 0.29 0.20
365.1 382.1 17.0 0.26 0.18
06-329 24.0 63.7 39.7 0.39 0.39
06-330 6.1 152.1 146.0 0.31 0.49
06-330 179.5 200.9 21.3 0.49 0.59
-----------------------------------------------------------


Five of the 14 completed holes comprised a verification program requested by Global International Jiangxi Copper Company Ltd. ("GIJCM") pursuant to its due diligence investigation. As announced in its October 10, 2006 news release, the Company has signed agreements with GIJCM to form a limited partnership to jointly develop the Red Chris property. The agreements are subject to several conditions including approval of the Company's shareholders, which is being sought at a Special Meeting to be held on November 30, 2006, and satisfactory completion of GIJCM's due diligence investigation.

Assay results for four of the five verification holes drilled within the East and Main zones of the Red Chris orebody have now been reported and reviewed on section against the resource model. The visual comparison confirms the results of resource model. Results from the Gully zone indicate possible extension of mineralization at depth and to the north. Hole 06-330 was terminated at 174m below surface in 0.43% copper (Cu).

With the completion of these holes, a total of 101,761 m of drilling has been completed on the Red Chris property, totaling 331 diamond drill and 44 percussion drill holes. The Company is updating the geological model for the Gully zone and will incorporate these new diamond drill hole assays in an updated resource estimate for Red Chris project to be completed by the end of Q1-2007.

Two holes, 06-327 and 06-328, were designed to test for mineralization continuity at depth within the Gully zone. Neither reached the targeted depths due to poor drilling conditions and assay results for these holes did not indicate any significant near-surface mineralization.

Results from the drilling program continue to demonstrate the potential for expansion of the mineral resource at the Red Chris property to support a larger tonnage operation as contemplated under the GIJCM agreement.

Sheri Burt, P.Geo., the qualified person under National Instrument 43-101, was responsible for supervising the drilling program, including core logging, splitting, sampling, security and transportation of the samples to the laboratory.

International Plasma Labs Ltd. ("IPL") of Vancouver, British Columbia, an ISO 9001:2000 registered laboratory, conducted sample preparation and primary assaying for copper and gold. ALS Chemex, also an ISO 9001:2000 registered laboratory, is based in North Vancouver, British Columbia and is performing the check assaying.

For a description of the geology, sampling, assaying and QA/QC procedures under National Instrument 43-101, refer to the Red Chris Technical Report dated December 16, 2004 on www.sedar.com and the bcMetals web site www.bcmetalscorp.com.

Trafigura

bcMetals also advises that it has received notice from counsel to Trafigura of its intention to file a petition to enforce a contract for the sale of concentrates from the Company's Red Chris project. The Company maintains that no contract was ever entered into and has applied to the British Columbia Supreme Court for a declaratory order to this effect.

Ian Smith, President and Chief Executive Officer


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

Contact Information

  • bcMetals Corporation
    Ian Smith
    President and Chief Executive Officer
    (604) 683-0140
    (604) 683-0126 (FAX)
    Website: www.bcmetalscorp.com