Bell Resources Corporation

Bell Resources Corporation

February 28, 2008 14:06 ET

Bell Resources Corporation: Phase II Drilling Confirms More Copper at Sombrero Butte in Copper Creek District, Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2008) - Bell Resources Corporation (TSX VENTURE:BL) ("Bell") is pleased to report final assays from the Phase II drilling at the Sombrero Butte Project, located in the Copper Creek district, Pinal County, Arizona. Bell has now drilled 34 holes totaling approximately 6500 meters at Sombrero. For a summary of all Sombrero drill results to date go to:


- Phase II drilling continues to add high grade copper mineralization at shallow depth in breccias. There are at least 20 identifiable breccias on the property.

- Drilling indicates that at the depths of copper mineralization, the Magna and Campstool breccias have merged to form a single mineralized body between 80 and 100 meters in diameter.

- Geological features in drill hole SB-23 provide further support to the concept of a deep-seated porphyry system fueling the mineralized breccia pipes at Sombrero Butte.

- Intersection of copper in the Victor's breccia 700 metres NE of previous Phase I drilling suggests that the footprint of the potential underlying porphyry target at Sombrero could be larger than first anticipated.

Table of Phase II assays:

Magna SB-23 90 282 354 72 0.88%
Magna SB-23 90 458 484 26 2.03%
Victor's SB-24 80 0 20 20 1.27%
Victor's SB-25 90 0 12 12 2.05%
Victor's SB-26 85 0 12 12 2.25%
Victor's SB-27 75 14 30 16 1.22%
Victor's SB-28 90 14 20 6 1.36%
Victor's SB-29 75 4 70 66 0.61%
Victor's SB-30 82 10 40 30 0.86%
Victor's SB-31 74 2.6 8 5.4 2.07%
Victor's SB-32 81 2 8 6 2.47%
Victor's SB-33 75 6 24 18 1.80%
Victor's SB-34 85 8 24 16 1.77%

The Phase II drill program had two objectives and comprised a total of 12 drill holes over 1841 meters. The first was to understand the geometry and copper mineralization in the Victor's breccia pipe which exhibits strong sulfide mineralization in the form of bornite and chalcopyrite in surface exposures. The second objective of the drill program was to initiate testing for the suspected deeper seated porphyry system at Sombrero.

Drill hole Summary SB-23

The first drill hole (SB-23) was cored to a depth of 1231 meters to test for a suspected porphyry body thought to be situated directly below a cluster of breccia pipes including the Magna, Campstool, and several others. The second set of drillholes (SB-24 thru SB-34) tested an outcropping bornite-tourmaline-chalcopyrite breccia, known as the Victor's breccia, located approximately 700 meters northeast of the first hole.

Two significant zones of mineralization were intercepted in SB-23, the first at 282-354m (0.88% Cu) and the second at 458-484m (2.03% Cu). These results from the Magna breccia were surprisingly similar to previously released assays from drillhole SB-03, drilled into the Campstool breccia. The upper portion of the Magna breccia in SB-23 showed oxidation down to 502 meters, which included various highly mineralized zones containing chrysocolla - chalcocite - native copper. Near 500 meters depth the oxide mineralization transitioned downward into primary mineralization in the form of bornite - chalcopyrite - chalcocite - pyrite as veinlets and disseminations.

The Campstool breccia in SB-03 showed these same mineralogical transitions at similar depths. The strong correlation of copper grades and mineralogy between SB-23 and SB-03 lead the Company to conclude that at the depths of copper mineralization, the Magna and Campstool breccias have merged to form a single mineralized body between 80 and 100 meters in diameter. The likely origin of the oxide copper mineralization as a supergene blanket together with the steep inclination of the drillhole lead the Company to believe that the intersection thicknesses reported for SB-23 in the above table are approximately true thicknesses. Additional drilling would be needed to confirm this conclusion.

The lower half of SB-23 intersected variably mineralized granodiorite to 1231 meters. Local bornite-chalcopyrite veinlets, quartz-molybdenite veinlets, and spotty scheelite (tungsten) mineralization associated with both potassic and sericitic alteration were observed as 1- to 2-meter-wide zones in the deeper portions of the drillhole. Copper-bearing Grey Porphyry was intersected throughout the shallower breccia interval as matrix and as dikes. Grey Porphyry was also previously observed in a different breccia pipe in drill holes SB-02 and SB-06. In each case the Grey Porphyry contains disseminated chalcopyrite - pyrite mineralization and is believed to be a possible mineralizing source for the pipes. This observation of Grey Porphyry in a second pipe indicates that it is more widespread in this system than previously known.

Although the granodiorite deep in the hole exhibited the expected porphyry copper indicators such as potassic and sericitic alteration and copper and molybdenum sulfide mineralization, the extent and intensity of mineralization observed was not consistent with a porphyry source directly beneath the breccia pipe cluster. Geological features in drillhole SB-23 support the concept of a deeper-seated porphyry system fueling the mineralized pipes at Sombrero Butte, though the apex of the porphyry system may be offset substantially from the surface location of the Magna breccia pipe. The Company is actively continuing geological exploration across the Sombrero Butte property to determine if other breccia pipes within a few 100s of meters from the Magna breccia may more nearly overlie the apex of the expected porphyry system.

Drill Results - Victor's Breccia Pipe

Drillholes SB-24 through SB-34 targeted the Victor's breccia, situated 700 meters northeast of the Magna breccia. Hole SB-24 was drilled at an 80o vertical angle to a depth of 67.5 meters to test the downward continuation of outcropping tourmaline breccia carrying bornite and chalcopyrite. SB-24 cut 20.0 meters averaging 1.28% copper starting from the surface. The upper 9.5 meters of this interval was tourmaline breccia and last 11.5m was hosted in ring fractures and veins dominated by chalcopyrite. The plunge of the Victor's breccia is not definitely known at this time, but it is believed to be steep. Ten additional core holes have been completed to date to determine the dimensions of Victor's breccia.

Drillhole SB-25 was drilled at 90o and SB-26 was drilled at 85 degrees in a northwesterly direction, defining what is thought to be the eastern wall of the Victor's pipe. Drillholes SB-26 (85 degrees) and SB-27 (75 degrees) were collared just north of the breccia outcrop. Drillholes SB-28 through SB-30 were drilled at an azimuth of 200 degrees to the southwest from a common collar point. Drillholes SB-28 (90 degrees), SB-29 (75 degrees), and SB-30 (82 degrees) defined the southwestern wall of the breccia and resulted in the longest mineralized breccia intersection at 66 meters. SB-29 intersected breccia from 2.7m to 72m and SB-30 intercepted breccia from 9.63m to 41m. These drillholes indicate that the Victor's breccia may be plunging to the southwest.

Drillholes SB-31 and SB-32 were drilled to the west-southwest at 74 degrees and 81 degrees. Both drillholes resulted in shorter mineralized intervals with total copper of 2.07% from 2.59-8m in SB-31 and 2.47% total copper from 2-8m in SB-32. The last two drillholes were drilled in a northwesterly direction from the southeast side of the breccia, with SB-33 at 75 degrees and SB-34 at 85 degrees. SB-33 and SB-34 resulted in 18 meters of 1.80% total copper from 6-24m and 1.77% total copper from 8-24m in SB-34 with both intervals in breccia.

Preliminary modeling indicates the Victor's breccia plunges steeply to the southwest. Estimated dimensions of the breccia near surface are approximately 21meters in a North-South direction by 18 meters in an East-West direction. The breccia extends from surface at least 70 meters in depth, and is open at depth.

Bell plans to initiate Phase III drilling at Sombrero Butte as soon as logistics permit.

Sampling was conducted under the direct supervision of Amy Eichenlaub, M.S., Project Geologist. Samples are kept in a locked container and are delivered in person to the laboratory by Ms. Eichenlaub. Control samples, including field blanks, copper standards, and duplicate splits of core were inserted into the sample stream at an average of one control sample per seven unknowns.

For the purposes of this news release, the Company's Vice President of Exploration, Timothy Marsh, P.E., PhD, is the Qualified Person.

On September 4, 2007, Bell announced it had entered into a proposed business combination with Rogue River Resources Corp., a non-reporting company ("Rogue River") and Grandcru Resources Corporation ("Grandcru") (TSX VENTURE:GR), whereby the three companies will amalgamate to form one company and collectively benefit from the exploration potential of Bell and Grandcru's copper exploration assets and the near term production potential of Rogue River's La Balsa project.

About Bell Resources Corporation

Bell Resources is focused on the exploration and development of a diversified portfolio of copper base metal projects, with the most advanced being the past-producing Granduc Mine. The Company's strategic plan is focused on moving assets toward potential production, while continuing to target new acquisitions based on geological potential and economic viability. For further information on Bell Resources visit

On Behalf of the Board of Directors of Bell Resources Corporation

W. Glen Zinn, President & C.E.O.

Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.

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

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