BCM Resources is pleased to report the complete assay results from the phase one drill program on the Las Margaritas prospect, in the company's Shan claim group located 20 km NE of Terrace, British Columbia. The 20-hole program drilled a total of 3,550 metres and tested an area 750 m east-west by 400 m north-south. Initial results were reported in the News Release of November 30, 2006.
All holes intersected molybdenum mineralization and the following table details the significant higher grade intercepts:
The bulk of the mineralized intersections are hosted in altered granodiorite. Significant mineralization also occurs within roof pendants and included slabs of intermediate volcanic rocks. Superimposed ESE and NNE steeply dipping structures appear to control some of the better grade intervals.
Seventeen of the twenty holes drilled tested a new zone of mineralization (Las Margaritas Zone) not explored by previous drilling. The remaining three holes (#8, #20 and #21) were located in the Camp Zone which received limited drilling in the 1960s.
The results of the Phase One program are highly encouraging. The newly recognized Las Margaritas Zone remains open in all directions. Compilation of historic data including underground work in the 1930s suggests that mineralization may extend for at least 500 metres to the north and to depths of 500 meters below the surface of the Las Margaritas zone.
Phase two drilling is anticipated to begin in the New Year and will include infill drilling, deeper drilling, and testing other potentially mineralized areas.
All assays reported in this release were carried out at Acme Analytical Laboratories in Vancouver, B.C.
A map showing drill hole locations is posted on the Company's website: www:bcmresources.com.
Lindsay Bottomer P.Geo., who is a Qualified Person as defined in NI 43-01, has reviewed the technical content of this news release.
President & CEO
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Forward Looking Statements: Statements in this news release are forward-looking statements .Forward-looking statements include without limitation, statements regarding the company's plans, goals or objectives and future completion of mine feasibility studies, mine development programs, capital and operating costs, production, potential mineralization and reserves, exploration results and future plans and objectives of BCM. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may," "will,", "expect," "intend," "estimate," "anticipate," "believe," or "continues" or the negative thereof or variations thereon or similar terminology. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from expectations include risks associated with mining generally and pre-development stage projects in particular including but not limited to changes in general economic conditions, litigation, legislative, environmental and other judicial, regulatory, technological and operational difficulties, labor relations matters, foreign exchange costs & rates. Potential investors should conduct their own investigations as to the suitability of investing in securities of BCM.