Bell Copper Provides Update
Vancouver, British Columbia--(Newsfile Corp. - December 9, 2019) - Bell Copper Corporation (TSXV: BCU) ("Bell Copper" or the "Company") is pleased to provide an update on the Perseverance porphyry copper project including corporate activities.
Bell Copper has been informed by Joint Venture partner Cordoba Minerals, that a Magneto-Telluric (MT) survey will be performed at the Perseverance porphyry copper project, located in northwestern Arizona, USA. It is anticipated that the survey will be initiated prior to the end of January 2020.
K-20 is believed to be located on the periphery of a porphyry copper system (refer to Bell Copper news release dated May 21 2019), as indicated by a deep resistivity low identified by a previous MT survey (see Figure 1). However, this survey, completed in 2017, did not close off this anomaly and did not extend as far to the northeast as the K-20 drill hole. The incompletely defined low resistivity MT anomaly is similar to other large low resistivity anomalies associated with major porphyry copper systems elsewhere.
The upcoming Magneto Telluric (MT) survey will be performed to close off the northeast end of the deep conductive anomaly originally identified in the previous MT survey.
Figure 1: Plan map showing the location of drill hole K-20 relative to the MT anomaly.
To view an enhanced version of this graphic, please visit:
The Company previously announced a non-brokered private placement (see the Bell Copper news release dated October 4, 2019) of units (the "Units") at a price of five cents (C$0.05) per Unit for gross proceeds of up to C$500,000. Each Unit shall be comprised of one common share in the capital of the Company and one common share purchase warrant.
Each warrant entitles the holder to purchase an additional common share at a price of eight cents (C$0.08) per share at any time within 24 months of the date of issuance, subject to the right of the Company to accelerate the exercise period of the Warrants if common shares of the Company trade at or above C$0.40 for fifteen (15) consecutive trading days. All securities to be issued under this private placement will be subject to a four-month resale restriction.
Closing of the financing is expected to be completed in tranches and is subject to TSX Venture Exchange approval. The first tranche will close on or before December 18, 2019 or as is practicable.
SME Arizona Conference 2019
Bell Copper CEO, Dr. Tim Marsh has been invited to speak at the upcoming SME Arizona Conference running from December 8-9, 2019 in Tucson, Arizona. Dr Marsh will be presenting during the Geology Technical Session where he will be talking about the Company's Perseverance Porphyry Copper Project, near Kingman, Arizona.
For more information on the conference go to www.smearizonaconference.com
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.
Perseverance Porphyry Copper Project
A primary focus for Bell Copper is the ongoing exploration and development at the Perseverance Porphyry Copper 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 9+ km west of the Company's property. The Perseverance project is under a Joint Venture - Earn In with Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF).
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 Perseverance 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.
Forward Looking Statements
This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Bell Copper operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. 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 the Company's expectations include actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/50569