FOR IMMEDIATE RELEASE
January 20, 2016
BCM Resources Corporation: Thompson Knolls Update
Vancouver, BC - BCM Resources Corporation (TSX-V: B), "BCM", the "Company," is pleased to provide an update on the evaluation of historic data at the Thompson Knolls copper-gold-silver property. As previously announced, BCM has entered into an agreement to acquire up to 60-per-cent interest in the Thompson Knolls property from Inland Explorations Ltd. The proposed transaction is subject to approval by the TSXV Exchange.
The Thompson Knolls property ("TK") is located in Millard County, Utah, 20 miles east of Baker, Nevada, which has a full range of support services. TK comprises approximately 3,342 acres (1,352 hectares) of 125 unpatented lode claims and 2 Utah State Trust Lands mineral leases. The property is situated 5 miles southwest of U.S. Highway 50 and is easily accessed by well-maintained dirt roads. The Thompson Knolls Reservoir, located on the property, provides a year-round water source. A second useable well/cistern system also is present, further south on the property, which can be used year-round to supply water for purposes such as drilling.
Two main target areas have been identified at TK: "Thompson Knolls Porphyry", a 2,000 acre target area in the northern part of the property, and "Discovery Knoll Gold-Copper", a 1,300 acre target area in the southern part of the property. Five drillhole locations have been approved by the Utah DOGM and BLM, subject to posting reclamation bond.
Detailed magnetic, induced polarization, and gravity surveys were completed in 2007 and 2015, following up on a 1972 USGS aeromagnetic survey that found a subtle magnetic high anomaly. This magnetic anomaly may be associated with a buried intrusive that could have been responsible for gold mineralization on the property and in the nearby Kings Canyon sediment-hosted disseminated gold deposit, located a half mile north of the Highway 50 turnoff to the TK property.
Twelve historic reverse circulation holes have been drilled on the property, the last in 1996. Drillhole CKC-96-10 on the Discovery Knoll target area, returned a 30-foot intercept starting at a depth of 250 feet that assayed 8.01 grams per tonne ("g/t") gold (0.234 ounce per ton "opt" Au) and included a 10-foot interval that assayed 21.06 g/t gold (0.615 opt Au). A 20-foot copper-silver-rich interval was drilled in the same hole 10, starting at a depth of 430 feet that contained 0.28 per cent copper and 2.9 opt silver. Drillhole CKC-96-8, located 800 feet northeast of hole 10, intersected a zone of anomalous, disseminated gold mineralization 140 feet thick and demonstrates the potential for disseminated gold mineralization on the property. These assays are from historic drillholes. The Company's qualified person has not been able to verify the results or assaying and sampling procedures in place at the time of the drilling, and hence the results cannot be relied upon and are presented for information purposes only.
Field examinations and rock chip geochemical sampling by Inland in 2007 and 2008 found dolomitic alteration and skarn lead-zinc-gold-bismuth mineralization on the east side of the Porphyry target area. The 2007 and 2015 geophysical surveys and a review of certain available historic data at Thompson Knolls led to formulation of a Bingham Canyon-style porphyry, gold, and skarn intrusive-related target model for the northern part of the property. Several discrete new gold targets also were also proposed in the southwestern part of the property at Discovery Knoll following photogeologic reinterpretation and field examination by Inland, and later by interpretation of the new and existing geophysical data by Inland's geophysical consultant, in 2015.
The company's consulting geologist and 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 Utah and 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 firstname.lastname@example.org.
ON BEHALF OF THE BCM BOARD OF DIRECTORS
President and CEO
For further Information Contact:
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Caution Concerning Forward-Looking Statements
This news release and related texts and images on BCM Resource Corporation's and Inland Explorations Ltd.'s websites 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.
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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.