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BELL COPPER CORPORATION (Tier2)(CDNX: BCU.V)Last Trade: $0.57
Trade Time: Jun 27
Change: Up 0.01 (1.79%)
Prev Close: 0.56
Open: 0.57
Bid: 0.54
Ask: 0.57
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Day's Range: 0.54 - 0.58
52wk Range: 0.30 - 0.79
Volume: 19,925
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Bell Copper Corporation: Kabba Data Compilation Supports Large Porphyry Mo-Cu Target
Tuesday June 24, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) -
Bell Copper Corporation -
("Bell Copper" or the "Company") (TSX VENTURE:BCU - News) is pleased to report that an ongoing compilation of geological and geophysical data from the Company's Kabba project supports the concept of an exceptionally large porphyry Mo-Cu target on ground controlled by the Company through staking and mineral leasing.
Kabba Highlights:
Since initiating the Kabba Project, detailed work programs including mapping, geophysics, geochemistry and drilling have confirmed the Company's proposition that the target at Kabba is a large Molybdenum/Copper Porphyry system at a potentially shallow depth. The dimensions of the 3 kilometer by 5 kilometer target are represented by a similar area of surface alteration within what seems to be the target Porphyry's pre-faulted root zone located on surface to the west of the property. The Kabba target has geological and structural similarities to some of the larger known productive porphyries including: Bingham Canyon, El Teniente and Resolution.
"After three years of extensive and methodical work at Kabba, we believe that a truncated, major Mo-Cu porphyry system lies under shallow cover on our land holdings. While Bell Copper pushes ahead towards development and steady cash flow at its first copper mine at La Balsa, Kabba offers our shareholders the excitement and potential reward of a major porphyry discovery." commented W. Glen Zinn, President of Bell Copper.
Integration of new surface data with diamond drill data from the Company's 2007 drilling program provides a 15 square kilometer target area extending from the last hole drilled (K-4) in the 2007 program to newly mapped outcrops showing porphyry intrusions, sericitic alteration, and Mo-Cu-As-Ni mineralization. Key observations that support the target concept are summarized as follows:
- Detailed geologic mapping shows quartz porphyry intrusions on the extreme western edge of the bedrock exposures in the hangingwall block of the faulted porphyry Mo-Cu system. The quartz porphyries are sericitically altered, and may be the shallowly emplaced equivalents of the quartz monzonite porphyry that hosts molybdenum-copper-tungsten mineralization in the footwall block. Maximum exposed dimensions of the quartz porphyries are 100-200 meters, beyond which they are obscured by thin postmineral volcanic rocks and conglomerate.
- Aeromagnetic surveying shows a distinct low anomaly coincident with hydrothermal alteration in and around the quartz porphyries. The low magnetic intensity in this area is believed to reflect sulfidation of primary magnetite, which is otherwise common in the Precambrian host rocks outside of the area of hydrothermal alteration. The westerly extent of this low anomaly is obscured by magnetic postmineral volcanic rocks.
- Geochemical analyses of about 1400 outcropping mineralized veinlets in the hangingwall show clustering of elevated copper-molybdenum-arsenic-nickel values in and around the quartz porphyry intrusions.
- Mineralized veinlets in the hangingwall of the Kabba porphyry system (core and outcrops) are exceptionally enriched in nickel relative to the world's other large porphyry systems. Many veinlets carry several hundred parts per million nickel, about one order of magnitude higher than even Ni-rich porphyries like Bingham and El Teniente.
- The presence of minor lamprophyre and ultramafic biotite minette dikes spatially and temporally related to the Kabba porphyry system (i.e. both cutting and cut by mineralized veinlets) supports a direct contribution to the system by mantle-derived melts, a feature regarded by some geologists to favor higher than average metal endowments, e.g. Bingham and El Teniente.
- Fluorine mineralization (fluorite) is abundant at Kabba and is genetically linked to porphyry molybdenum-copper mineralization. Elevated fluorine is a distinctive characteristic of the giant Resolution porphyry and its neighbor, the Pinto Valley porphyry.
- Seismic reflection profiling completed by the Company in early 2007 showed that the Hualapai Fault cuts the Kabba porphyry at a surprisingly shallow 30-35 degrees. Reconstruction of a postmineral olivine basalt found on both sides of the fault suggests that the more prospective, shallow part of the Kabba porphyry system lies about 5.6 kilometers east of the greisenous quartz monzonite porphyry root zone of the system.
- The root zone of the porphyry system measures about 3 kilometers in an east-west direction by 5 kilometers in a north-south direction. These dimensions are comparable to the world's largest porphyry systems.
- Drilling by the company in mid-2007 confirmed the shallow dip of the Hualapai Fault and in the last hole (K-4) cut more than 900 meters of variably sericitized rocks, including 20 andesite porphyry dikes. Mineralization in the drillhole included multiple molybdenite-bearing quartz veins, local arsenic-rich pyritic breccia, and common disseminated fluorite mineralization. These strong mineralogical and geological similarities with the footwall outcrops more than 5 kilometers to the west make it likely that K-4 penetrated the hangingwall of the dismembered Kabba porphyry system. The thickness of cover rocks at the K-4 site was only 100 meters, suggesting that most of the 15-square-kilometer target area will also be under relatively shallow cover.
- Drillhole K-4 is located 2.4 kilometers northwest of the quartz porphyry intrusions found in outcrop in the hangingwall bedrock exposures. Potentially mineralized rocks in the intervening ground are obscured by relatively thin postmineral volcanic rocks and conglomerate.
- Approximately 1600 acres of additional ground were acquired in late 2007 and early 2008 to cover potential extensions to the main target area.
- Authorization has been received from the U.S. Bureau of Land Management to repair access roads and to build up to eight drill pads in the target area. The Company will select two of the most prospective of these drill sites to complete two diamond drillholes to depths of at least 1000 meters. A suitable diamond drill is expected to be available to complete this work in August 2008.
- The first site to be drill tested will lie along the 2.4-kilometer-long line between drillhole K-4 and the altered quartz porphyry intrusions.
Qualified Person
For the purposes of this news release, the Qualified Person is Timothy Marsh, Ph.D., P.Eng., the Company's Vice President of Exploration.
Bell Copper - Value through Production & Discovery
Bell Copper is focused on the development to production of the La Balsa copper mine in Michoacan, Mexico & the Granduc copper mine in British Columbia, Canada while continuing exploration and development of its pipeline of copper projects in some of the world's premier copper producing regions.
On behalf of the Board of Directors of Bell Copper Corporation
W. Glen Zinn, President and CEO
Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contact:
Investor Relations
Bell Copper Corporation
(604) 669-1484
Email: info@bellresources.com
Website: http://www.bellcopper.net
Source: Bell Copper Corporation
http://biz.yahoo.com/ccn/080624/200806240470452001.html?.v=1
http://investorshub.advfn.com/boards/board.aspx?board_id=8122
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