Bell Copper advances La Balsa feasibility study and iron exploration

TSX-V Symbol: BCU

TORONTO, Nov. 10, 2011 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSXV: BCU) is pleased to provide an update on its exploration and development activities at its wholly owned La Balsa Project in Mexico. Work on the bankable feasibility study for the open pit mining of copper hosted in surface breccias on the project is progressing well, and the Company anticipates completion of the study in the first quarter of 2012. Intermediate results are indicating improvements in metal recoveries and copper resources as compared to those used in the positive 2010 Scoping Study, which projected low cost copper production over a seven year mine life. The Company has also completed its helicopter magnetic survey on its iron prospects on the eastern half (La Balsa 14) of its 51 km2 property, and modeling of the results has identified numerous priority targets for follow-up with trenching and subsequent drilling. Given the proximity of these large anomalies to Arcelor-Mittal's 2 million tonne per year Las Truchas iron mine, the high-grade, direct-ship iron that has been mined on a small scale on the western portion (La Balsa 12) of the property, and the abundance of iron float that is found throughout La Balsa 14, management feels that continuing to pursue the iron opportunities at La Balsa is an additional way in which to add to the overall value of the Company.

The bankable feasibility study is being undertaken by KD Engineering of Tucson, Arizona with subcontract work conducted by METCON Research (metallurgy), Golder Associates (geotechnical) and Independent Mining Consultants (resource, reserve modeling and pit design). The key change to date from the operations projected in the Company's 2010 Scoping Study is an expected improvement in the overall copper production. Previous studies envisioned the mixed oxide and sulphide material (which represents roughly 12% of the minable resource) going to the heap leach pads, with the silver contained in the sulphide material remaining unrecoverable on the heap leach pads. Recently completed rougher flotation tests on a composite sample of the mixed material has resulted in recoveries of 82% of the total copper and 90% of the total silver. Locked cycle test work is underway.

With the completion of a revised block model, pit designs are now being conducted with the incorporation of updated cost and recovery data. The new pits are also being designed with copper prices at the $2.50 and $3.00 per pound level, as opposed to the $1 per pound price that was used in the initial calculation of resources in 2008, which is expected to result in further increases in the total copper and silver resources of the project. Final deliverables on the study are expected mid-way through the first quarter of 2012, with the final report expected prior to the end of the quarter.

In addition to work on the feasibility study, the Company has also been actively searching for the underlying source of the copper mineralization hosted in the surface breccia deposits. The Company has now completed the third hole in a program that was designed to test for copper mineralization hosted in a deeper porphyry that was projected to have been displaced kilometers to the west by a major thrust fault that underlies the surface breccias. This third hole was drilled to a depth of 909 meters, with copper intersected in a 12 meter interval grading 0.1% from 810 to 822 meters. While all three holes contain evidence of a significant porphyry system at depth, a review of all available geological information suggests that the displacement on the thrust fault under the breccias may not have been as extensive as projected, and that the target may lay down-plunge of the Iguana Prieta breccia pipe, where the highest grade primary copper and silver have been found to date. No drilling has been conducted in the area deeper than 150 meters, and should the porphyry source lay in closer proximity to the breccias, the target depth for continuing exploration would be approximately 275 meters, which is only 160 meters beneath the floor of the presently conceived pit design.

The Company is also pleased to announce the results from its recently completed helicopter magnetic survey over the iron ore anomalies on the eastern La Balsa 14 portion of its property. This work is a follow-up to a prior government sponsored fixed wing magnetic survey that identified a number of large (up to 2 x 3 km) anomalies on the property. While the geophysical anomalies from the new survey include two very large (1 X 3 km each) sheet-like magnetic highs that dominate the survey, it is not possible to quantify the potential size of the targets given the abundance of hematite that has been identified throughout the property, and that has been mined on the western La Balsa 12 portion of the property. Since the hematite ores do not have a magnetic signature, but are genetically related to the magnetite on the property, an evaluation of the magnetic highs on the property is a good first approach to testing the overall iron potential of the project.

Modeling and interpretation of the results has been conducted by an experienced iron ore geophysicist who has identified a number of drill targets.  Prior to drilling, the Company will commence approximately 1,200 meters of trenching on the five most prominent targets, with geological mapping and assaying results to help prioritize the targets. This work is expected to be completed over the next six months. In addition to developing its own programs, the Company has also been approached by a number of parties over the past few months expressing an interest in joint venturing both the further exploration and production of iron from the La Balsa 14 concession, and will be reviewing the merits of these proposals as further details become available.

For the purposes of this news release, the Qualified Person is Timothy Marsh, Ph.D., P.Eng.

About Bell Copper

Bell Copper is a public company with a focus on copper exploration, development and production in North America. The Company has an extensive portfolio of exploration and development projects located in two of North America's premier copper producing regions: Mexico and Arizona.

More information on Bell Copper: www.bellcopper.net

On behalf of the Board of Directors of
Bell Copper Corporation

"Michael Werner"

Michael Werner, CEO & Director

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. 

SOURCE BELL COPPER CORPORATION

For further information:

Bell Copper Corporation
Bulgan Orgilsaikhan
Investor Relations
Tel.: (416) 309-2895
info@bellcopper.net
www.bellcopper.net
  Renmark Financial Communications Inc.
Christine Stewart: cstewart@renmarkfinancial.com
Rachel Zou: rzou@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
cstewart@renmarkfinancial.com
www.renmarkfinancial.com

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BELL COPPER CORPORATION

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