Proceeds to Drill Thompson Knolls Project Cu-Au-Mo Porphyry in Utah, USA
Not for distribution to U.S. news wire services or dissemination in the United States
VANCOUVER, BC / ACCESSWIRE / March 21, 2023 / BCM Resources Corporation (TSXV:B), is pleased to announce a non-Brokered private placement financing for proceeds of up to C$3,125,500 through the issuance of up to 12,500,000 units ("Units") priced at C$0.25 per Unit. Each Unit is comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of C$0.33 for one year from the date of issue. All the securities issuable will be subject to an applicable hold period from the date of issue.
Proceeds from the financing, will be used to continue the ongoing drilling and geophysical exploration program, led by the Company's President and CEO, Dr. Sergei Diakov at BCM's Thompson Knolls (TK) Property. Thompson Knolls is a Porphyry Cu-Au-Mo Discovery project located via highway 6-50 in West Central Utah, USA. The financing is subject to approval by the TSX Venture Exchange. Neither 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.
About Thompson Knolls (TK) - Greenfield Porphyry Cu-Au-Mo discovery in Utah
BCM Resources Corp has a 100% interest in the TK project, located in west-central Utah, USA. TK is a greenfield discovery of a blind Porphyry Cu-Au-Mo system. TK is well-situated 210 km southwest of the world-class Bingham Canyon porphyry copper-molybdenum-gold mine of Rio Tinto. Discovery hole, TK18-1, intersected a porphyry copper mineralized body of quartz monzonite porphyry (QMP) with locally strong potassic plus quartz-sericite alteration and locally abundant pyrite and lesser oxide copper mineralization. The QMP intruded a pre-mineral body of quartz latite porphyry. This is suggestive of the typical porphyry copper-gold system. TK Phase 3 drilling program of permitted total 7 (seven) drillholes is currently underway intercepting mineralization both in marble-diopside skarns surrounding the QMP intrusion and within the intrusive stockwork itself. The TK Porphyry Cu-Au-Mo system is entirely covered by post mineral fanglomerate creating challenges for better understanding of the system and vectoring to its copper core. Systematic drilling of Phase 3 program is designed to test extensions of the TK mineralized system and pinpoint location of its highest-grade copper mineralization. Our drilling contractor is currently advancing drillhole TK10 in the north-eastern part of the system (see presentation at BCM website Thompson Knolls Porphyry Cu-Mo-Au Discovery August 2020 (bcmresources.com).
About BCM Resources Corporation
BCM Resources Corporation is a diversified Canadian mineral exploration company now focused on completing the discovery drilling of the Thompson Knolls property, its key asset. BCM also controls prospective Copper, Gold, and Molybdenum exploration projects in British Columbia. BCM Resources is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.bcmresources.com or contact us by e-mail at [email protected].
ON BEHALF OF BCM RESOURCES CORP.
President & CEO
Caution Concerning Forward-Looking Statements:
This news release and related texts and images on BCM Resource Corporation's??? website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, and; the possibility of cost overruns or unanticipated expenses in these exploration programs.
SOURCE: BCM Resources Corporation