Bell Copper Announces Kabba Project Update
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2018) - Bell Copper Corporation (TSXV: BCU) ("Bell Copper" or the "Company") is pleased to provide an update on its 100% owned Kabba porphyry copper project located in Mohave County, Arizona.
- Bell Copper regains 100% interest of Kabba Project
- Company retires debenture secured by Kabba project
- Dec 2017 drill assays show close proximity to copper shell
- 2018 drilling to begin 2nd quarter
- Bell closes first tranche of $0.10 financing for proceeds of $256,000
Kennecott Option Termination
In 2017, Kennecott Exploration executed their initial exploration plan at Kabba by drilling 7 holes targeted on Induced Polarization (IP) anomalies identified in their geophysics program. This work brought their total expenditure to exceed $3 million on the Kabba project under the option agreement described in the Company's news release on April 19, 2016. Bell Copper has been advised by Kennecott Exploration that they will be returning to the Company any and all interest in Kabba that they may have earned through work expenditures and withdrawing from the option agreement. Bell Copper thanks Kennecott for the exploration expenditure and the decision to return 100% ownership of Kabba to Bell Copper.
Tim Marsh, CEO, states, "We are very excited to have Kabba back. We look forward to drilling our priority targets in the very near term."
The Company is pleased to report that it has retired debt secured against the Kabba project. The Company's 100% ownership of Kabba is now clear of any encumbrances.
K-18, K-19 Assays and Target Update
Drillholes K-18 and K-19 were completed late in 2017 to test the northerly extent of a strong Induced Polarization (IP) chargeability anomaly. The holes revealed abundant disseminated pyrite and D-veinlets in Laramide porphyry and Precambrian granite beneath 40 to 150 meters of strongly hematitic leached capping starting 240 to 330 meters below surface. Anomalous disseminated sphalerite (zinc sulphide) was present in both holes beneath leached capping. Trace chrysocolla (copper silicate) was present in K-19, further supporting the concept that supergene leaching and copper enrichment operated at Kabba, and that a copper shell might be present nearby.
Drillholes K-8 through K-19 surround an as-yet-undrilled, open-ended, 1.5-kilometer-wide ovoid porphyry copper target extending more than 2 kilometers in length. The drillholes display anomalous levels of one or more of the following elements; arsenic, copper, gold, lead, molybdenum, rhenium, silver, sulfur, tellurium, and zinc consistent with their proximity to the envisioned porphyry copper target. These anomalous levels appear to grow in intensity in relation to their proximity to the perceived potential target. Induced Polarization (IP) anomalies appear to form a thick halo surrounding the ovoid target, though the lack of IP surveys on recently acquired mineral rights to the east prevents the full northeasterly extent of the anomalies from being known. The halo-like IP anomalies and drillhole geochemical results continue to support Bell management's view that drilling to date has outlined the buried top of a major Laramide porphyry copper-molybdenum system.
Kabba 2018 Exploration Plans
The Company is returning to Kabba for further drilling in the second quarter of 2018. Drilling will be focused on the ovoid copper porphyry target. Bell has secured access to private land as part of the 2018 drilling and intends to drill this location initially. This approach will reduce permitting time by approximately 75%. Drill permits will also be obtained for at least 2 additional drill sites on neighboring state lands. These permits are expected to take less than 60 days to obtain. Drilling will be performed by Godbe Drilling LLC of Montrose, Colorado. Mobilization is expected to begin during the first week of April.
Company CEO Tim Marsh states "Our now-concluded option agreement with Kennecott produced a treasure trove of new, high quality subsurface information that builds on the copper porphyry target that Bell has been pursuing. We are grateful for their +$3 million contribution, which has funded meaningful work at Kabba while protecting Bell shareholders from significant dilution. Should we have need of the support of a major copper-producing partner in the future, we will be able to negotiate that relationship from a position of strength."
Financing Tranche Closed
The Company has closed the first tranche of its $0.10 financing announced on March 6, 2018 for proceeds of $256,000. The funds will be used to retire debt, to permit new drill sites on the Company's Kabba project, and for general and administrative purposes.
Sampling, Assaying and Quality Control
Core samples from K-18 and K-19 were picked up from the drill sites near Kingman, Arizona and transported under the care of Kennecott Exploration Company to their facility in Salt Lake City for sample preparation. Tamper-evident seals were employed on containers used to ship the samples for analysis.
Core was sawn lengthwise using a diamond saw and was then sampled under the supervision of staff of Kennecott Exploration Company in Salt Lake City, Utah. Core was sampled on either 2-meter or 3-meter intervals with half core samples sent to ALS-Chemex in Vancouver, B.C. Analysis consisted of a multi-acid digest with ICP-MS determination of 47 elements, and gold by fire assay. Matrix-matched certified reference materials (1 in 20 samples), coarse blank material (1 in 20 samples), and core duplicate samples (1 in 20 samples) were included in each assay batch.
About Bell Copper
Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in a region responsible for 10% of the world's copper production: Arizona.
Kabba Porphyry Copper Project
A primary focus for Bell Copper is the ongoing exploration and development at the Kabba Copper Porphyry Project near Kingman, AZ, where we are pursuing the faulted-off top of a major porphyry copper system, the bottom of which is exposed in the foothills 8+ km west of the Company's property.
The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng., the Company's CEO and President. No mineral resource has yet been identified on the Kabba Project. There is no certainty that the present exploration effort will result in the identification of a mineral resource or that any mineral resource that might be discovered will prove to be economically recoverable.
On behalf of the Board of Directors of
Bell Copper Corporation
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Tel: 1 800 418 8250
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 release.