BCM Resources Corporation (TSX-V: B) announces the results from the Phase 2 (5,682 meter) diamond drill program at the South Shan Molybdenum discovery near Terrace BC. Total core drilled to date at the South Shan project is 9,232 meters.
This program was designed to test, at depth and along strike, the often strongly mineralized but shallow holes drilled in the Phase 1 (3550 meter) drill program (completed in late fall of 2006). As well as to check for more consistent mineralization below scattered intercepts in others of the original holes. The second round of drilling did demonstrate the potential for strong mineralization beneath relatively unmineralized granodiorite (hole 27) and volcanics (hole 24), as well as high Molybdenum grades over significant intervals to the depths tested in this program (hole 27).
This drill program has vastly increased our understanding of the form the mineralization takes. This knowledge greatly enhances our ability to explore for further mineralized bodies, the existence of which is strongly supported by surface indications and 3-D modeling of aeromag data. Several vertical holes, plus the general pattern of angles of intercept of veins and mineralized fractures in all holes, has made it clear that a large part of the mineralization is contained in gently dipping bodies, fed by near vertical feeder zones. There are at least three of these zones located in the area drilled to date.
The largest of these was intersected in holes 23, 24, 27, and 35. The total dimensions of this body may be about 350 m E-W by 150 m N-S and up to 50-60 m in width, dipping gently north, but further drilling would be needed to explore the potential of this body, which lies about 140 m below surface.
A second body, potentially about 150 by 200 m and perhaps 25-40 m thick, lying nearly at the surface, was intersected in holes 1 through 4 of the first drill program. Grades in both bodies may average 0.1 % moly or above.
A third, small lower grade area was intersected near surface in hole 32. There was an indication of what may be the same zone in the beginning of hole 30, 150 m to the east, and better values may exist in the intervening area.
In the camp zone, hole 30 revealed some very high grade intercepts at depth, but hole 31 drilled under it at a steeper angle did not intersect these zones. Hole 34 encountered a few high grade shallow dipping veins near surface. Surface samples and holes 20 and 21 from the first round of drilling also indicated high grade intercepts in largely unmineralized rock. No drilling was done to test the high grade pockets and veins in the Camp Zone.
The end of Hole 27 sampled 17.34 meters of 0.152% Mo., proving that high grade Molybdenum mineralization may be encountered at depth. Although holes 36 and 37 did not find a continuation of this zone with significant grade, it is of particular interest that a historical adit has been located at Shan South. The Adit, which extends 500 meters into the side of the ridge is located down-slope from the most recent drill area. The estimated distance from the end of Hole 27 to the approximate end of the adit is 150 meters in depth and 650 meters in length. The tailings dump of the adit shows visible Molybdenum and the Company is awaiting assays of surface samples and an evaluation of the accessibility of the adit for exploration purposes.
At present, exploration efforts will be directed to locating and delineating additional zones of mineralization at the Shan project. This includes targets at Shan South to the northwest, northeast, and south of the area drilled to date. At Shan North field crews are presently conducting mapping, sampling, and geo-chem. analysis; utilizing data from the recently completed aeromag survey as well as historical exploration data to determine drill targets for the upcoming drill program.
Intercepts include:
| Hole Number | From | To | Meters | % Mo | Note |
|---|---|---|---|---|---|
| LM023 | 238.36 | 257.86 | 19.5 | 0.073 | preceded by 50.86 m in .022% Mo, with up to 0.19% Mo |
| LM024 | 218 | 236 | 18 | 0.105 | followed by 30 m in 0.047% Mo |
| LM027 | 111.84 | 302.4 | 190.6 | 0.103 | including 81.55 m in 0.129% Mo, from 135.95 m to 217.5 m |
| LM027 | 407.25 | 424.59 | 17.34 | 0.152 | |
| LM030 | 12.5 | 23.85 | 11.35 | 0.088 | |
| LM030 | 261.94 | 264.16 | 2.22 | 1.005 | |
| LM030 | 306.72 | 314.56 | 7.84 | 0.066 | |
| LM030 | 325.75 | 327.3 | 1.55 0 | .262 | |
| LM031 | 341.15 | 343.8 | 2.69 | 0.135 | |
| LM032 | 48.81 | 57.64 | 8.83 | 0.104 | preceded by 36.51 m in .027% Mo |
| LM032 | 311.97 | 313 | 1.03 | 0.263 | |
| LM033 | 63.76 | 79.8 | 16.04 | 0.047 | preceded by 56.38 m with scattered values up to .056% Mo |
| LM034 | 12.09 | 19.17 | 7.08 | 0.148 | |
| LM034 | 239.94 | 246.5 | 6.53 | 0.088 | |
| LM035 | 205.74 | 221.91 | 16.17 | 0.044 | preceded by 25.15 m in .021% Mo |
| LM035 | 221.91 | 252.44 | 30.53 | 0.082 | including 12.2 m in 0.1% Mo |
| LM035 | 252.44 | 266.59 | 14.15 | 0.044 | |
| LM036 | 368.2 | 370 | 1.8 | 0.102 | |
| LM037 | 222.42 | 227.7 | 5.32 | 0.086 | |
| LM037 | 402.7 | 404.1 | 1.4 | 0.071 |
Qualified Person:
Daryl Hanson, P.Eng., who is a Qualified Person as defined in NI 43-01, has reviewed the technical content of this news release.
Contact:
Dale McClanaghan
President & CEO
604.646.0144
www.bcmresources.com
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