BCM Resource Corp. Announces Plan of Operation Approved and Strategy for Next Phases of Drilling at Its Thompson Knolls Greenfield Cu-Au Porphyry Project
VANCOUVER, July 17, 2023 - BCM Resources Corp. (TSXV:B) ("B" or the "Company") is pleased to announce that it has received approval from the Bureau of Land Management (the "BLM") for its Plan of Operations (the "PoO") at its flagship Thompson Knolls property (the "TKP") in Utah. The BLM informed the Company that the Final Environmental Assessment, Decision of Record, and Finding of No Significant Impacts documents are finalized, and B is authorized by the regulators to proceed with the execution of the PoO activities. The approved PoO, good for the next ten years, allows for expanded drilling over the entire TKP, with up to 10.5 acres (4.25 ha) open at a time and a total allowed disturbed ground of 20 acres (8.1 ha) for the duration of PoO, thus permitting the Company to conduct a significantly larger ongoing exploration program.
The Company's President & CEO Dr. Sergei Diakov commented, "The approval of our Plan of Operations for the Thompson Knolls property is an important milestone for the Company. We continue advancing testing of TKP's potential for hosting a significant size copper-gold-molybdenum mineralized porphyry system. Under the approved PoO, the Company will be able to conduct exploration drilling with multiple drilling rigs working simultaneously. This will significantly increase the speed of drill testing of all outlined targets within TKP boundaries."
B is planning to initiate the PoO drilling program right away upon completion of the required bond payments. The TKP ground is now subdivided into two project areas, Thompson Knoll (northern part and referred to as "TK"), and Discovery Knoll (southern part and referred to as "DK"), shown on the map in Figure 1.
The Company's initial program under the Plan of Operations includes 17 additional drill sites at both TK and DK projects with approximately 51,000 ft (15,545 m) anticipated drilling in TK Phase 4, DK Phases 1 & 2. Currently disturbed ground at TKP amounts to approximately 4.7 acres (1.9 ha) of which about 50% of the previously disturbed ground is in the reseeding/reclamation process. Now, with the PoO approved, the Company is authorized for up to an additional 5.8 acres (2.35 ha) of ground disturbance, totaling 10.5 acres (4.25 ha) at any given time. Initiation of the additional ground disturbance under the PoO is contingent on payment of an additional bond in the amount of US$47,880 (per BLM and Utah Dept. of Oil, Gas, & Mining guidelines), providing a financial guarantee for the reclamation of the drill sites planned for the drilling phases of PoO.
A Phase 4 drill program at the TK project (see Figure 2) envisages the drilling of additional drill holes in the northwestern extension of mineralization intercepted in drill holes TK3a, TK8, TK14, and TK6. In addition, "B" is planning to begin Phase 1 and Phase 2 drill programs in the southern portion of the Property at the DK project. Phase 1 & 2 drilling at the DK project (see Figure 3 for hole locations) will test the southern portion of TKP for evidence of the porphyry system. Historical shallow RC drilling intercepted gold-copper mineralization at DK assayed 9.15 meters of 0.234 oz/t (8.01 g/t) Au and 6.09 meters of 0.28% Cu which may represent a separate porphyry system or an extension of the TK porphyry to the south.
Qualified Person and QAQC
Mr. Richard R. Redfern, M.Sc., and Certified Professional Geologist, a consultant to the Company, and 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 Corp. is a diversified Canadian mineral exploration company focused on the continued exploration of the Thompson Knolls Porphyry Cu-Au-Ag-Mo project. BCM also controls perspective Copper, Gold, and Molybdenum exploration projects in British Columbia. BCM Resources is managed by experienced and successful board members and technical advisors. For further information, including area maps, sections, and photos, please visit our website at www.bcmresources.com or contact us by e-mail at info@bcmresources.com.
ON BEHALF OF BCM Resources Corp.
Sergei Diakov
President & CEO
For further information, please contact:
Investor relations 604-646-0144 ext. 222
info@bcmresources.com
www.bcmresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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, and; the possibility of cost overruns or unanticipated expenses in these exploration programs.
SOURCE: BCM Resources Corp.