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BCM Resources Corp
Symbol B
Shares Issued 187,553,145
Close 2023-07-17 C$ 0.19
Market Cap C$ 35,635,098
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BCM receives OK for Thompson Knolls plan of operations

2023-07-17 10:04 ET - News Release

Dr. Sergei Diakov reports

BCM RESOURCE CORP. ANNOUNCES PLAN OF OPERATION APPROVED AND STRATEGY FOR NEXT PHASES OF DRILLING AT ITS THOMPSON KNOLLS GREENFIELD CU-AU PORPHYRY PROJECT, UTAH, USA

BCM Resources Corp. has received approval from the Bureau of Land Management for its plan of operations (PoO) at its flagship Thompson Knolls property (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 BCM is authorized by the regulators to proceed with the execution of the PoO activities.

The approved PoO, good for the next 10 years, allows for expanded drilling over the entire TKP, with up to 10.5 acres (4.25 hectares) open at a time and a total allowed disturbed ground of 20 acres (8.1 hectares) for the duration of the PoO, thus permitting the company to conduct a significantly larger continuing exploration program.

Dr. Sergei Diakov, the company's president and chief executive officer, 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."

BCM 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).

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 feet (15,545 metres) anticipated drilling in TK phase 4 and DK phases 1 and 2. Currently disturbed ground at TKP amounts to approximately 4.7 acres (1.9 hectares), of which about 50 per cent 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 hectares) of ground disturbance, totalling 10.5 acres (4.25 hectares) 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 $47,880 (U.S.) (per BLM and Utah Department of Oil, Gas and 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 envisages the drilling of additional drill holes in the northwestern extension of mineralization intercepted in drill holes TK3a, TK8, TK14 and TK6. In addition, BCM is planning to begin phase 1 and phase 2 drill programs in the southern portion of the property at the DK project. Phase 1 and 2 drilling at the DK project 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 metres of 0.234 ounce per ton (8.01 grams per tonne) gold and 6.09 metres of 0.28 per cent copper, which may represent a separate porphyry system or an extension of the TK porphyry to the south.

Qualified person and quality assurance/quality control

Richard R. Redfern, MSc, 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 Corp.

BCM Resources is a diversified Canadian mineral exploration company focused on the continued exploration of the Thompson Knolls porphyry copper-gold-silver-molybdenum 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 advisers.

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