Vancouver, BC, July 3, 2018 - BCM Resources Corporation (TSX-V: B), the "Company" is pleased to announce that gold fire assays and geochemical results have been received from drilling of the first hole on the Thompson Knolls ("TK") Project, situated 210 km southwest of Rio Tinto's Bingham Canyon porphyry copper-molybdenum mine. In addition, BCM conducted a Niton x-ray fluorescence survey of interesting-appearing mineralization in the drill core. BCM Resources has an option to acquire up to a 60-per-cent interest in Inland's Thompson Knolls porphyry copper-gold (PCD) exploration project.
Geology: Drill hole TK18-1 intersected oxidized, mineralized quartz monzonite porphyry bedrock at a depth of 181.4 metres ("m"), beneath fanglomerates. Porphyry was found down to the bottom of the hole at 334.7 m. Xenoliths, inclusions of other rocks brought up by the porphyry magma, were also found, including dike(s) of biotite-feldspar quartz porphyry, a whitish feldspar-rich granitic rock, and xenoliths of lamprophyre, a rock type commonly found in areas containing Carlin-style gold mineralization, including the Long Canyon Mine of Newmont Mining and the Goldstrike Mine of Barrick Gold Corporation, both in northeastern Nevada, northwest of TK. This rock assemblage indicates that multiple igneous intrusions do occur in the TK property area.
Mineralization: TK18-1 contained argillic to moderate strength sericite-quartz alteration from the top of the hole to the bottom. Sericitic alteration was much stronger in the bottom 45 m of the hole, where the amount of pyrite present in the porphyry increased to locally plus 2 percent visual pyrite. A zone of oxide copper mineralization dominated by chrysocolla was present between 189 to 197 m depths. The rock is mostly oxidized throughout the drill hole, and it contains fracture-controlled to local dissemination of an unidentified black oxide iron-manganese mineral throughout the length of the porphyry intersected. It is interpreted by the Company that this mineral was precipitated from oxidizing surface water fluids from the fanglomerates that leached the top of the porphyry body. The possibility exists for the presence of a blanket of PCD copper mineralization at depth at the boundary between oxidized and reduced rocks, with possible existence of sulphide mineralization below this redox boundary.
Niton Results: Selected zones of disseminated mineralization and mineralized fracture coatings in the core were tested by a Niton x-ray fluorescence, throughout the length of the drill core. These results just give a rough, qualitative indication of mineralization present, where tested. The oxide copper zone between 189 to 197 m showed elevated results in copper, showing that the instrument did "work." This interval also showed anomalous Niton reading values in silver, cobalt, antimony, and lead. The mineralized porphyry in the lower part of the hole, below 290 m, showed anomalous Niton reading values of copper, silver, local cobalt, antimony, and lead.
Assay/Geochemical Results: The drill core was sampled on 1.5 m intervals and analyzed by induction coupled plasma geochemical analyses after crushing and 4-acid dissolution of the rock samples. The samples also were fire assayed for gold content. The upper, oxide copper-bearing interval between 187.5 to 196.5 m contained anomalous copper values of 282 to 641 ppm copper. The middle, less altered part of the core, down to 294 m contained lower copper values of 11 to 109 ppm copper. Copper again was higher in the more strongly altered lower part of the hole below 297 m to the bottom of the hole, with contained values of between 84 and 649 ppm copper, and averaging 223 ppm copper. Silver was locally elevated in this lower mineralized interval with local silver values of 3 to 16.4 ppm Ag. The other 1.5 m sample geochemical values were low, including cobalt. Gold assay values were generally low, with a maximum value of 32 ppb Au at 241.5 m.
Targets: It is interpreted by the company that a multi-intrusion porphyry copper system has been discovered at TK, perhaps superimposed on earlier granitic and lamprophyre intrusive rocks. The presence of oxide copper mineralization and increased silver mineralization at depth in TK18-1 indicates that the copper mineralization could be increasing with depth, and an important exploration target for the company is a possible copper enrichment blanket at the site of TK18-1 at greater depth than drilled to date. The presence of pyrite may indicate that the Company is in the pyrite shell portion of a porphyry copper system, and the presence of copper is very encouraging. High-grade gold and copper skarn or replacement mineralization present 2.8 km south of TK18-1 could indicate the presence of a more copper-mineralized porphyry intrusion, or multiple porphyry intrusions, to the south of TK18-1. The Company will test this primary target area in its upcoming phase of drilling at TK.
As previously announced, the Company entered into an option agreement with Inland Explorations Ltd., a BC headquartered non-reporting Issuer, ("Inland"), for an option to acquire up to 60% interest in Inland's Thompson Knolls Copper-Gold Porphyry Exploration Project ("TK Property") in Utah's Great Basin, one of the premier metallogenic provinces in the world. The TK Property is located in Millard County, Utah and consists of 125 federal unpatented lode mining claims and two State Section Leases, comprising 3,465 acres (1,402 ha).
The Company's Vice President Exploration, Mr. Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes of National Instrument 43-101, has verified and approved the information contained in this news release.
About BCM Resources Corporation
BCM Resources Corporation is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing prospective Copper, Gold, and Molybdenum exploration projects in British Columbia and Utah. BCM Resources is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.bcmresources.com or contact us by e-mail at info@bcmresources.com.
ON BEHALF OF BCM RESOURCES CORP.
"Dale McClanaghan"
President and Chief Executive Officer
For further information please contact:
Investor Relations,
Telephone: 1 (604) 646-0144, ext. 222
Caution Concerning Forward-Looking Statements
This news release and related texts and images on BCM Resource Corporation's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. BCM Resources Corporation undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.
This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
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