Vancouver, BC, March 31, 2020 - BCM Resources Corporation (TSX-V: B), the "Company" is pleased to provide an exploration update and plans for the Company's Thompson Knolls ("TK") intrusive hosted, porphyry copper-molybdenum-gold system discovered in BCM's core hole TK18-1 in the bedrock beneath 181 m of valley-fill cover sediments (BCM news release of October 12, 2018). TK is located 210 Km southwest of Rio Tinto's Bingham Canyon porphyry copper-molybdenum-gold mine and smelter complex near Salt Lake City, Utah.
Rick Redfern, Vice President Exploration states "BCM has now:
- Reevaluated its 2018 drilling results,
- Produced a 3D exploration model.
- Designed a follow up drilling program to resume Phase 1 exploration in the spring of 2020.
The program is aimed at vectoring into the highest grade part of the porphyry system and to start testing its size potential."
Vic Chevillon, MA & QP, has joined the BCM team as a senior geological consultant. BCM has remapped lithologies, alteration and mineralization in TK18-1, and has incorporated the information into a 3D exploration model to assist in prioritization of its remaining Phase 1 exploration core drilling.
Discovery core hole TK18-1 was collared on coincident magnetic high / gravity low geophysical anomalies in pediment cover gravels and lakebed sediments. TK18-1 penetrated 181 m of cover sediments to bedrock and then intersected Cu, Mo, Au mineralized igneous porphyry intrusives as projected by Rick Redfern, BCM's VP Exploration. TK18-1 was drilled to a total depth of 340.8 m within the porphyry system, but was lost in faulted, mineralized intrusive due to drilling equipment failures.
The recent remapping of the TK18-1 drill core reveals that the main mineralized and altered igneous intrusive bedrock is a composite stock, composed of quartz latite porphyry cut by a younger quartz monzonite porphyry stock at depth that is more strongly altered and mineralized to the bottom of the hole. Hydrothermal alteration assemblages, mineralization and stockwork veining increase in strength and abundance through the intrusives to the bottom of the hole. Within the bedrock, propylitic alteration gives way downhole to phyllic- and patches of potassic alteration. Quartz, iron and copper oxide minerals in stockwork veins along with local disseminated copper oxides are present within the quartz monzonite porphyry in the bottom part of the drill hole. These down hole patterns are consistent with classic porphyry Cu zoning patterns (Lowell and Guilbert, 1970) and provide solid evidence that TK18-1 requires completion to its original planned depth of 700+ m to provide a first test of the porphyry system.
In 2019, BCM obtained a uranium-lead isotope zircon age date of the quartz latite porphyry in TK18-1 of 62.2 +/- 0.7 million years ago (GSA abstract in press, S. Mills and R. Redfern, 2020). The TK porphyry is of Paleocene "Laramide" age and is entirely unique in the eastern Great Basin Province. The TK Laramide age matches the ages of the giant Resolution Cu-Mo deposit being put into production by Rio Tinto at Superior, Arizona, and the porphyry Cu deposits of Arizona, New Mexico and Butte, Montana. The new Laramide age opens up new potential for the TK property.
BCM is fully permitted with the State of Utah and the BLM to resume drilling of an additional 4 holes, and has other drill roads laid out and approved by the State of Utah and the BLM.
BCM will soon begin to raise funds to resume and complete Phase 1 TK exploration by applying the well known porphyry mineralization zoning patterns of tried and true porphyry Cu exploration models to vector into the highest Cu, Mo, and Au grade parts of the porphyry system, and start to test its size potential.
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 now focused on completing Phase 1 discovery drilling of the Thompson Knolls property, its key asset. BCM also controls prospective Copper, Gold, and Molybdenum exploration projects in British Columbia. 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 email@example.com.
ON BEHALF OF BCM RESOURCES CORP.
President and Chief Executive Officer
For further information please contact:
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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