Vancouver, British Columbia--(Newsfile Corp. - October 17, 2023) - Bell Copper Corporation(TSXV: BCU) (OTCQB: BCUFF) ("Bell Copper" or the "Company") reports that the Arizona Geological Survey, in collaboration with the University of Arizona Department of Geosciences with funding from the United States Geological Survey and the State of Arizona, has initiated a three-year project to assess potential resources of critical minerals in Arizona. The paired Diamond Joe and Big Sandy deposits are the first of several porphyry systems in Arizona to be selected for the study. For its part, the Company is contributing core samples from its 100% owned Big Sandy porphyry copper project, a large, concealed porphyry copper-molybdenum project located in northwestern Arizona, approximately 30 kilometers from the Company's Perseverance Project.
Several critical minerals are commonly enriched in deposits like Big Sandy
Big Sandy and Diamond Joe are first selected as subjects of the study
Initial Samples have been contributed from the Company's BS-3 drill core
The Arizona Geological Survey ("AZGS") research initiative, led by Dr. Carson Richardson, Chief of Mineral Resources & Bedrock Geology, has received funding from the United States Geological Survey ("USGS") with matching funds from the State of Arizona to conduct a geochemical reconnaissance survey of Arizona copper deposits, host to 295 million tonnes of copper. A parallel study of New Mexico copper deposits is being led by the New Mexico Bureau of Geology and Mineral Resources. This three-year project includes Bell Copper's recently discovered Big Sandy porphyry copper deposit.
As highlighted in a February 15, 2023 press release by the USGS, the goals of this project are to: 1) provide a rigorous comprehensive compilation of geochemical analyses (both new and legacy data) of porphyry systems in the Laramide magmatic arc of Arizona with an emphasis on specific porphyry systems that have elevated concentrations of critical minerals; 2) develop a better understanding of the distribution of critical minerals within the alteration haloes of porphyry systems, and 3) provide evidence for critical mineral potential for individual prospects/deposits and within specific alteration types and rock types.
Potential critical minerals in the greater Arizona project area include: aluminum, arsenic, bismuth, cobalt, gallium, germanium, indium, manganese, nickel, the platinum group elements, scandium, selenium, tellurium, tungsten and zinc. In its July 2023 Critical Materials Assessment, the U.S. Department of Energy included copper itself as a "critical material", due to its importance in electrification.
Porphyry copper systems like Big Sandy represent excellent opportunities to recover potentially economic concentrations of critical minerals like rhenium, tellurium, selenium, and rare earth elements that are currently considered co-/by-product commodities. Dr. Richardson, in his proposal for funding from the USGS, stated,
"This project aligns well with the Earth Mapping Resources Initiative (MRI) directives, as defined by the 2022 Bipartisan Infrastructure Law (H.R. 3684), by providing integrated geologic and geochemical data that can be applied to mapping, integrating and consolidating geospatial and resource data, and by providing interpretation of subsurface and above-ground mineral resources data for a world-class mineralized province."
AZGS has kicked off the three-year project with several staff scientists, and an MS student under the supervision of Dr. Hervé Rezeau (Asst. Prof., University of Arizona Geosciences). Samples from Bell Copper's Big Sandy project were recently collected from drillhole BS-3 as well as from the nearby Diamond Joe porphyry stock. The samples will be analyzed for their mineral chemistry, geo/thermochronology, geobarometry, and fluid inclusion characteristics, with a goal of using these techniques to assess the potential for critical minerals.
Dr. Timothy Marsh, Bell's President and CEO, and a Qualified Person as defined by NI43-101, said,
"Bell is honored and excited to assist in this assessment of the nation's critical mineral resources. The early recognition that Big Sandy is a discovery of merit that might help to satisfy the future needs for critical minerals emphasizes the need for the Company to determine the size of the system as quickly as possible. With additional samples from BS-3 being analyzed at that University of Arizona, we will learn something more about the ubiquity of the high levels of the strategic element rhenium seen in BS-1 and BS-3. We are also likely to learn something new about potential byproducts that need to be routinely analyzed during our early exploratory drilling."
About Bell Copper Bell Copper is a mineral exploration company focused on the identification, exploration and discovery of large copper deposits located in Arizona. Bell Copper is exploring its 100% owned Big Sandy Porphyry Copper Project and the Perseverance Porphyry Copper Project which is under a Joint Venture - Earn In.
On behalf of the Board of Directors of Bell Copper Corporation
"Timothy Marsh"
Timothy Marsh, President, CEO & Director
For further information please contact the Company Tel: 1 800 418 8250 Email: [email protected]
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, including, but not limited to, the ability of Bell to identify a mineral resource at the Perseverance or Big Sandy Projects. 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. 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
