Drilling Update at Bell’s Perseverance Porphyry Copper Project, Arizona
Suite 900 - 885 West Georgia Street | Vancouver, British Columbia | V6C 3H1 | Canada
1-800-418-8250 | www:bellcopper.net | [email protected]
April 15 2024
NEWS RELEASE
Bell Copper Corp
Drilling Update at Bell’s Perseverance Porphyry Copper Project, Arizona
VANCOUVER, B.C. - Bell Copper Corporation (TSX.V: BCU) (OTCQB: BCUFF) (“Bell Copper” or the
“Company”) reports that drilling has been completed on hole K-23 on the Company’s Perseverance
porphyry copper project in Arizona. The Perseverance project is held under a joint venture and earn-
in agreement with Cordoba Minerals Corp. (“Cordoba”) (TSXV: CDB; OTCQB: CDBMF). Under the terms
of the agreement (see March 18, 2024 release), Cord oba has the right to earn up to 80% of
Perseverance through the expenditure of $14.2 milli on before April 24, 2026. Up to the present,
Cordoba has earned a 51% interest and Bell Copper retains a 49% interest in the project.
Previous drilling shows evidence of a nearby porphyry system
In January 2024, hole K-23 was drilled approximatel y 1000 meters southeast of hole K-22 and 1000
meters east-northeast of hole K-20. Both holes returned evidence to support the existence of a nearby
porphyry system.
Hole K-22 tested a large low resistivity anomaly ge nerated by a Magneto Telluric (“MT”) survey. The
hole encountered clay-filled breccia zones with min or occurrences of pyrite, chalcopyrite in quartz
veins and stringers representing distal alteration and mineralization to a porphyry copper system. Hole
K-20, intersected 321 meters of anomalous copper assaying 541pm copper, within a low MT resistivity
anomaly that was interpreted as being on the outer margin of a porphyry copper deposit.
K-23 potentially points in the right direction to a porphyry system
Hole K-23 targeted an undrilled area that could pot entially host the core of a porphyry system. The
hole drilled through a thick series of gravel followed by a sequence of volcanic basalt that blankets the
valley floor before being covered over by the recen t gravel fill. Underlying the basalt, Laramide-age
porphyry volcanic and tuffaceous units were interse cted at 516 meters, which are intensely oxidized
with hematite and limonite representing weathered p yrite and chalcopyrite that has formed as a
gossan on the surface exposure of potential porphyry copper mineralization long before the basalt was
extruded onto the land surface. Arizona copper dep osits that produced approximately 10% of the
world’s copper were directly associated with Laramide intrusive rocks.
Hole K-23 continued in hematite, limonite impregnat ed and fracture-filled Laramide porphyry and
tuffaceous rocks that were strongly sericite altere d and acid leached to a depth of 571 meters. This
style of alteration and leaching is commonly referr ed to as a “leached cap” situated at the top of a
porphyry copper deposit. At 571 meters, the hole crossed through a major fault and breccia zone, and
into weakly altered Laramide porphyry intrusive rocks with minor quartz veins with sphalerite, galena
and tennantite to 579 meters. The hole ended at 590 meters in Laramide porphyry rocks with minor
disseminated pyrite. The core interval between 516 meters and 590 meters in hole K-23 will be
submitted for assay.
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K-23 543 meters (1782 ft) showing hematitic leached capping hosted in strongly sericitized Laramide volcanic tuff
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Future Work
Future work on Perseverance may include the use of Ivanhoe Electric’s proprietary Typhoon system to
map out the extent of sulphide mineralization and e xplore for possible supergene, copper-enriched
sulphide (chalcocite) mineralization with associated oxide copper mineralization. Diamond drilling of
any compelling anomalies identified by the Typhoon survey would be expected to follow.
Bell Copper President & CEO Dr. Tim Marsh stated - “Bell Copper is excited to see this first appearance
of true volcanic rocks in the Laramide porphyry system at Perseverance. The intense sericitic alteration
and supergene leaching in the volcanic rocks, together with very sparse relict chalcocite in the leached
capping, give us confidence that Cordoba is pointed in the right direction. Notably, there was minimal
Precambrian wallrock intersected in this hole, so K -23 likely represents a move toward the locus of
igneous activity in this porphyry system. We are p leased to see Cordoba voting with their wallet at a
time when exploration dollars are scarce. We look forward to Cordoba deploying the balance of $14.2
million of expenditures required by the earn-in agreement on Perseverance in the next 24 months.”
Qualified Person
The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng.,
the Company’s CEO and President and a ‘Qualified Pe rson’ as defined under Canadian National
Instrument 43-101.
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 S ervices Provider (as that term is defined in the po licies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes “forward-looking stateme nts” and “forward-looking information” within the m eaning of
Canadian securities legislation, including, but not limited to, the ability of Bell to identify a mine ral 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 tha n statements of historical fact, are forward-lookin g statements.
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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 an d other similar
expressions and includes the negatives thereof.
Forward-looking statements are based on a number of assumptions and estimates that, while considered r easonable by
management based on the business and markets in whi ch Bell Copper operates, are inherently subject to significant
operational, economic, and competitive uncertaintie s, risks and contingencies. There can be no assura nce 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 Compa ny's expectations
include actual exploration results, interpretation of metallurgical characteristics of the mineralizat ion, 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 det ailed herein and from time to time in the filings m ade by the Company
with securities regulators, including those describ ed in the Company’s most recently filed MD&A. The C ompany does not
undertake to update or revise any forward-looking statements, except in accordance with applicable law.