| ||June 12, 2018|
BCM Resources Corporation Announces New Porphyry Copper Discovery at Thompson Knolls Copper-Gold Project in West-Central Utah
| ||Vancouver, BC, June 12, 2018 - BCM Resources Corporation (TSX-V: B), the "Company" is pleased to announce that drilling of the first hole on the Thompson Knolls ("TK") Project in west-central Utah has led to a new porphyry copper discovery (PCD) in the north-central part of the property. BCM Resources has an option to acquire up to a 60% interest in Inland's Thompson Knolls Copper-Gold Porphyry Exploration Project ("TK Property").|
The Company collared TK18-1, an HQ-size wireline diamond core hole, in the north-central part of the TK target area, into a semi-donut shaped, anomalously high magnetic anomaly. The top 181.4 metres ("m") of the hole were fanglomerate and a thin base (13.4 m) of lacustrine sediments. The hole then entered a distinctive oxidized, fractured, argillicly altered, weakly iron-stained quartz monzonite porphyry bedrock with large megacrysts of orthoclase up to 2 centimetres ("cm") in size, and plagioclase and quartz to 1 cm in size. The porphyry contains minor quartz stringers, with traces of oxidized pyrite in the fractures, along with chrysocolla and tenorite, oxidized copper-bearing minerals, down to a depth of 200 m. The porphyry continued downward to 317.8 m where a young, post-mineral fault zone was encountered. This lower section of porphyry showed sericitic (micaceous) alteration, with local quartz-sericite-goethite-hematite (after pyrite) stringers present, with oxidation throughout this section. Fault breccias are present down to the present bottom of the hole at 334.7 m, where hard rock again has been encountered. Drilling has stopped here, where drilling problems were encountered that forced termination of the hole until rig alterations can be made. Drilling is expected to resume in approximately 8-10 days.
The drill core from TK18-1 was sawed and sampled on 1.5 m intervals, and the samples delivered and custody transferred to a certified analytical laboratory in Elko, Nevada for gold assay and geochemical analysis of copper, molybdenum, silver, and other minor elements by 4-acid leach and induction coupled plasma analysis procedures.
It is interpreted by the Company that there is a porphyry copper discovery at TK. The highly oxidized nature of the porphyry rock encountered suggests that copper has been leached from the rock section drilled to date. The possibility exists for the presence of a blanket of PCD copper mineralization at depth at the boundary between oxidized and reduced rocks, with possible existence of sulfide mineralization below this "redox" boundary. The target of the present is to delineate the nature of the PCD system at this site. The subsequent drill hole has been designed to target the interpreted center of the PCD to the south of hole TK18-1 in a magnetically-low area, approximately 1 km south of hole TK18-1. The Company is assaying all sampled core for gold, as a high-grade gold intercept (21 g/t gold and 78 g/t silver over 3.05 m) was assayed in a 1996 drill hole by Centurion Mines, situated 2.8 km south of the current hole. The Company will report assayed and geochemical analyses from TK18-1 on a timely basis after the data has been received.
As previously announced, the Company entered into an option agreement with Inland Explorations Ltd., a BC headquartered, non-reporting Issuer, ("Inland"), for an option to acquire up to 60% interest in Inland's Thompson Knolls Copper-Gold Porphyry Exploration Project ("TK Property") in Utah's Great Basin, one of the premier metallogenic provinces in the world. The TK Property is located in Millard County, Utah and consists of 125 federal unpatented lode mining claims and two State Section Leases, comprising 3,465 acres (1,402 ha).
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 focused on identifying, acquiring, advancing, and joint venturing prospective Copper, Gold, and Molybdenum exploration projects in British Columbia and Utah. 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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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