Bell Copper Advances La Balsa Feasibility Study and Van Dyke Programs for 2011

TSX-V Symbol: BCU

VANCOUVER, June 20, 2011 /CNW Telbec/ - Bell Copper Corporation ("Bell Copper" or the "Company") (TSXV: BCU) is pleased to announce its exploration and development plans for its La Balsa and Van Dyke projects for the balance of 2011, following the successful closing of its $4.5 million equity private placement.

La Balsa Project, Mexico:  At the Company's wholly owned La Balsa project, work continues on the previously announced feasibility study for the mining of low strip-ratio, surface breccia copper resources. This work follows a March 2010 Scoping Study which projected annual production of 21 million pounds of copper per year over a seven year mine life, with cash costs of US $0.81/lb and all-in costs (including capital, and the use of the Company's previously purchased SX-EW processing plant) of $1.22/lb.  As part of this study, a 2,000 metre in-fill drill program is commencing to provide further definition to the oxide/sulphide transition zones.  Metallurgical testing is also in progress with an aim toward determining the optimal method for processing material within these transition zones.

Drilling to test for a buried copper porphyry under the surface breccias at La Balsa is in progress with the hole at 780 metres depth. The porphyry system is targeted at 800 metres depth, below a thrust fault which is believed to have laterally displaced the known, shallow, Cu-bearing breccia from the targeted underlying porphyry. At present, the hole is crossing through strongly faulted ground believed to be the thrust fault. To date, this hole has intersected low-grade chalcopyrite mineralization hosted in ankeritic carbonate veins and brecciated monzonite porphyry and sericitized andesitic pyroclastic rocks.  The mineralization is interpreted to occupy a fault bounded lens of altered rock associated with the thrust zone.

Bell has identified a 12km2 magnetic feature on the La Balsa Project that is similar in dimensions to Arcelor-Mittal's nearby 290 million tonne Las Truchas iron mine, 20 km to the west of La Balsa.  This area will be the target of a $250,000 exploration program consisting of a heli-mag survey followed by selective ground based surveys and drill testing of the best targets. High grade surface iron deposits (grading 66% in grab samples) have been identified to date on the eastern and western portions of the 51 km2 claim block, and small scale iron mining companies, under contract to Bell, have been direct shipping iron to China through the nearby port at Lazaro Cardenas.  The company expects to generate approximately $600,000 for the year from the sale of iron.

Van Dyke Project, Arizona:  The acquisition of the Van Dyke property is expected to close by August 2011. The vendor is in the final steps of consolidating the ownership of the property as required under the acquisition agreement with the Company.

Following the closing of the acquisition, the Company will immediately begin a program to validate the 1.3 billion pounds of historical resources (167 million tons grading 0.41% copper using a 0.1% cut-off grade) and produce a 43-101 compliant report.  These resources are historical in nature, should not be relied upon and are cited here for geological purposes only.  Work to upgrade these resources will include re-assaying selected intervals of the original core drilled by Occidental Minerals in the 1970's, along with confirmatory drilling within the deposit that could commence as early as October 2011.

While this confirmatory work is being undertaken, the Company will begin its permitting activities for the project as well as undertaking a Preliminary Economic Assessment (PEA) for recovering copper using in-situ leaching (ISL) methods. ISL has been successfully tested on this copper oxide deposit by Occidental Minerals, and the Town of Miami Arizona has already provided a letter of support for the Company's proposed development of the deposit.  BHP already operates an ISL project in the Miami area, supporting Management's belief that this project can be permitted.  ISL has been used extensively around the world for decades, and its advantages include lower capital and operating costs, no ore moved or tailings created, minimal visual disturbance, fewer permits versus other mining methods, and an ability to produce copper cathodes on site.  Future production could include the use of the SX-EW processing plant which the Company already owns, or the use of other SX-EW plants that are currently in operation in proximity to the project.  The PEA is expected to take approximately 6 months to complete.

Dr. Michael Werner, the Company's CEO, stated "In Management's opinion the La Balsa Project will allow Bell to move into the ranks of a Junior copper producer with near term growth coming from our acquisition of the Van Dyke deposit. We look forward to moving both of these projects ahead with the support of the Forbes and Manhattan Group of companies.

Corporate Update: The Company announces that the TSX-Venture Exchange has accepted for filing documentation with respect to the closing of its brokered private placement previously announced on May 11, 2011 and June 2, 2011.  The Company has issued a total of 22,500,000 units ("Units") at a price of $0.20 per Unit. Each Unit consists of one common share and one share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of $0.35 per share for a period of 18 months from closing.  The Company has paid a cash commission of $278,530 to the brokers, and has issued 1,989,500 brokers' warrants entitling the brokers to acquire one common share of the Company at a price of $0.20 per share for a period of 18 months from closing.  There is a statutory hold period of 4 months plus 1 day, expiring September 7 (on 16,200,000 of the Units and 1,114,500 of the brokers' warrants) and September 26, 2011 (on 6,300,000 of the Units and 875,000 of the brokers' warrants) issued pursuant to this private placement.

Subsequent to the recent financing, and the previously announced board of directors and management additions, the Company will be moving its head office to Toronto into the offices of the Forbes and Manhattan Group of Companies effective July 1, 2011.  With this transition, Gordon Fretwell has resigned as the Corporate Secretary and Matt Harding has been appointed the new Corporate Secretary. As part of these board and management changes, the Company has, subject to regulatory approval, granted 9,050,000 stock options to directors, officers and consultants of the Company. These options will be exercisable at $0.20 per share for a period of five (5) years from the date of granting.

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

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 some of North America's premier copper producing regions including Mexico and the Southwestern US.

More information on Bell Copper:

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."


For further information:

Bell Copper Corporation   Renmark Financial Communications Inc.
Sarah Stephanson
Executive Assistant
Tel.: (604) 669-1484

Christine Stewart:
Rachel Zou:
Tel.: (514) 939-3989 or (416) 644-2020

Profil de l'entreprise


Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.