This summer BCM Resources Corporation (TSX-V: B) completed mapping and surface sampling on the Shan property located 20 kilometres northeast of Terrace, BC. This program combined with historical data outlined widespread molybdenum mineralization present in float and outcrop over an area of 800m by 500 m.
Molybdenite is present as disseminations around the contacts of finer grained late felsic intrusives and in quartz-pyrite-molybdenum veins in the main stage equigranular granodiorite. The quartz veins range from a few centemetres up to a metre or more in thickness and are found in various orientations. The initial surface samples have the following Mo grades:
Results are pending from a second round of surface sampling.
An 18 hole, 2375 m drill program is planned for fall 2006 to test the previously undrilled southern and western part of the surface mineralization, which is also the topographically highest part of the anomalous area. The drilling will test the disseminated halo around what is interpreted to be a late plug on the ridge top, as well as multiple areas of quartz veining along the ridge.
History of Exploration, Shan Claim
In 1928 the first claims were staked, and some prospecting done. In 1934 Nicholson Creek Mining Corp. drove a crosscut adit in lower creek area (1700 feet with 525 feet drifting and crosscuts). This adit is a kilometre NE and 400-500 m below the current target area and did not encounter mineralization.
In 1967 Kokanee Moly Mines Ltd. drilled eleven holes in southwest part of the mineralized area currently being tested and found significant mineralized intersections in 6 of those holes, including 15 m in 0.131% Mo, 35 m at 0.084% Mo, 50 m at 0.065% Mo, 110 m in 0.032% Mo, 34 m in 0.051% Mo, and 2 m in 0.014% Mo. Low grade molybdenum mineralization was found outside these intervals and in 4 of the other 5 drill holes. In 1971 New Gold Star Mines did a soil survey of over 6 line miles that defined the mineralized area being tested today, but this survey was not followed up at the time.
In 1979 Rio Tinto Canadian Exploration Ltd. carried out considerable exploration work in the area, including geologic mapping at 1:10000 and a large soil survey. This soil survey, due to differences in methodology and much larger sample spacing, did not identify the target area on the ridge as clearly, and subsequent exploration efforts were concentrated on the north slope of the ridge, including mapping and sampling of creek on the north side, an experimental induced polarization (IP) line, and two drill holes. They concluded that the two drill holes were not located in the correct place to intersect the mineralization on the north slope, but did not pursue the property further, except to do a four line IP survey in 1980 on the north slope.
No further work was done until BCM began exploring the properties in 2005.
The main drill program preceded the soil sampling, and the second drill program preceded the main IP survey. Follow-up of the 1979 soil survey anomalies revealed considerable outcrop and subcrop of molybdenum mineralization closely corresponding to the anomalous soils, and this has been incorporated into BCM's planned drill program.
All data in this news release other than the surface samples from the 2006 surface sampling are from historical sources and pre-date National Instrument 43-101.
Lindsay Bottomer P.Geo., who is a Qualified Person as defined in NI 43-01, has reviewed the technical content of this news release. All 2006 surface sample assays were done at ALS-Chemex Laboratories in North Vancouver.
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