BCM Resources Corp ("BCM" or the "Company") is pleased to provide an update on work on carried out on the Moly Creek property during 2006. The property is located 15 kilometres northwest Terrace B.C., and is accessible via logging roads and trails using 4WD vehicles and ATVs. BCM has an option to acquire a 100% interest in the 1012 hectare property.
Commencing in late 2005, BCM carried out a staged exploration program consisting of airborne magnetic surveying, followed by grid-based ground geophysics (11 line kilometres of I.P.) geological mapping and soil geochemical sampling. Selected targets generated by this work on the northern portion of the property were subsequently tested with an initial seven hole, 992 metre diamond drilling program.
The drilling mainly targeted resistivity and/or chargeability features defined by the IP survey at or near the interpreted contacts between granitoid intrusive rocks and metasedimentary country rocks. The drilling revealed that the resistivity features generally correlated with pervasive silicification, in places associated with discrete quartz veining. Some of the veins are variably mineralized with pyrite, chalcopyrite and molybdenite. Maximum assay values encountered in the drilling (generally over 2 metre sample intervals) were 101 ppm molybdenum, 590 ppm tungsten and 475 ppm copper.
The Company is evaluating the results of the program to date. Further work will likely focus on the southern portion of the property which was not tested during the 2006 drilling program due to lack of road access. The strongest geophysical response and most of the known surface molybdenum occurrences are located on this part of the property.
The drill samples were assayed by ALS-Chemex Laboratories in North Vancouver. Lindsay Bottomer P.Geo., who is a Qualified Person as defined in NI 43-101, has reviewed the technical content of this news release.
Contact:
Dale McClanaghan
President & CEO
604.646.0144
www.bcmresources.com
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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.