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PERSEVERANCE PROJECT

"PERSEVERANCE Represents an Extraordinary Opportunity for Discovery of an Outsized High Grade Copper Porphyry Deposit in Arizona."

OVERVIEW

 

Bell Copper has been pursuing the faulted-off top of a major porphyry copper system, the bottom of which is exposed in the foothills west of the Company's property.

 

The Perseverance project is located in northwestern Arizona, approximately 19 miles southeast of Kingman and 150 miles northwest of Phoenix. The land package comprises a total of 13,000+ acres 5244 hectares).

 

Perseverance lies on the Arizona Volcanic Arc. Along this mineralized trend Freeport McMoRan is currently producing over 200 million pounds of copper annually from the Bagdad mine, Origin Mining has the capacity to produce 30 million pounds of copper annually from the Mineral Park mine, and Rio Tinto has demonstrated an inferred resource of 1.95 billion tonnes containing +1.51 per cent copper and 0.035 per cent molybdenum at Resolution. This recent discovery of the giant Resolution orebody serves as a reminder that undiscovered porphyry copper deposits still exist in Arizona and that they are worth finding.

 

On Aug 27 2018, Bell Copper entered into an agreement with Cordoba Minerals whereby Cordoba can earn up to an 80% interest in the Kabba project by completing certain phased financial commitments and project expenditures over a 7.5-year period. 

HISTORY OF PERSEVERANCE

Just beyond the western edge of the Perseverance prospect, where the Hualapai Mountains rise above valley-filling sand and gravel, a very large Laramide-age porphyry Mo/Cu deposit crops out. This porphyry intrusion, measuring 12 miles long by 1.5 miles wide, has been thoroughly explored by the likes of Bear Creek Exploration Company, Union Carbide Corporation, AMAX, Cerromin, Conoco, Hanna, Kerr-McGee, Santa Fe, and Noranda. The efforts of these companies demonstrated the intense alteration, quartz veining, and highly anomalous molybdenum and copper contents typical of major porphyry copper deposits, but the basis for a money-making mining operation was never established.

 

The known, outcropping parts of this porphyry copper system appear to be an exposure of a deep level of the original porphyry system, deeper than where the richest deposits of copper would be expected. A major fault located on the west edge of the Perseverance prospect separates this deep porphyry exposure from a down-dropped block that may contain the richer copper-bearing parts of this porphyry system, directly underneath the Perseverance prospect. A 1974 Master's thesis by John Vuich, studying under John Guilbert at the University of Arizona, surmised that the richer top of the deposit was most likely still present in the subsurface east of the outcropping part. During the 1960's - 1970's, the major mining companies focused on exploring near-surface deposits, and the idea slowly sunk below the radar screens of the big Arizona mining companies...

 

In 1997 Dr Marsh stood on this exposed root zone, and looking to the NE, said to himself "the top of this thing must be out there..."

  • MAY- Drill Hole K-11                                        
  • Cut approx. 900 meters of altered & mineralized porphyry interpreted to be pyritic shell                                                  
  • Intercepted 14 meters of supergene chalcocite blanket                                       
  • Short interval near 1185 meters depth characterized by bornite-digenite copper  minerals, closely associated with pyrite      

RECENT CORE DRILLING 

 

Bell Copper returned to the Perseverance project for further core drilling of K-20 in September of 2018. This drilling was focused on the Company's ovoid copper porphyry target originally identified in 2016 after completion of drillhole K-12. 

 

Observations of mineralization and geological structures encountered by drill hole K-20 suggest close proximity to a potential Laramide copper porphyry deposit. Beginning at a depth of approximately 300 metres to 1319 metres, K-20 passed through a long interval of intermediate sulfidation state veins (pyrite-sphalerite-tennantite-chalcopyrite-galena-ankerite), indicating a consistent position on the fringe of a large porphyry copper system.                                    

 

At approximately 1,030 metres deep, the drill core became more potassically altered with disseminated pyrite, chalcopyrite on a 1:1 ratio, with more frequent veins and quartz-molybdenite stringers. This was observed with an occurrence of hydrothermal magnetite filling fractures and veins and secondary biotite alteration. The appearance of potassic alteration with more frequent veins and quartz stringers suggests that K-20 is approaching the higher temperature region of the porphyry system. The presence of chalcopyrite, bornite and chalcocite in drill core, suggest potential for a hypogene enrichment zone with higher-than-average copper grades.

K-20 drilling between 1030 metres and 1319 metres continued to encounter anomalous copper minerals comprising chalcopyrite, bornite, and chalcocite along with scattered molybdenite.  Locally abundant milky quartz veins were seen, some carrying magnetite and virtually indistinguishable from quartz-magnetite veins in the footwall outcrops. 

 

Worth noting, a 30-centimeter-wide carbonatite dike, comprising calcite, apatite, biotite, and primary magnetite and carrying 0.3% of the combined rare earth elements cerium and lanthanum along with anomalous copper, was cut at a depth of 1108 metres.  The carbonatite dike was haloed by fenite (K-feldspar) alteration resembling the K-feldspar envelopes surrounding chalcopyrite-pyrite veinlets elsewhere in K-20. 

 

Globally, carbonatites and porphyry copper deposits are not found together, so their occurrence together at Perseverance is enigma.

FUTURE ACTIVITIES

A Magneto Telluric (MT) survey will be performed to close off the northeast end of the deep conductive anomaly originally identified in the previous MT survey performed in 2017. This area of the property has had no previous geophysical work. Core drilling will recommence shortly after analysis of the MT data.

IMAGES

MT and Drillhole (sideview)
View showing the location of drill hole K-20 relative to the MT anomaly that plunges gently to the NE. Noting that all previous drill holes were terminated before reaching the anomaly at depth.
MT and Drillholes
K-20 in area with no previous geophysics. Resistivity low may signify centre of porphyry system and will be closed off with upcoming MT work
Project Location
Arizona Volcanic Arc
Perseverance Project is situated along the Arizona Volcanic Arc and on-trend with other significant Arizona porphyry copper deposits
Drillhole Geochemistry on IP
Cross Section Drillhole Geochemistry
D Veinlet Intensity
Show More

PERSEVERANCE ROCK SHOP

*Mineralization shown is from selected intervals, and not necessarily representative or indicative of the mineralization hosted on the Perseverance property

2015

  • MAY- Drill Hole K-11                                        
  • Cut approx. 900 meters of altered & mineralized porphyry interpreted to be pyritic shell                                                  
  • Intercepted 14 meters of supergene chalcocite blanket                                       
  • Short interval near 1185 meters depth characterized by bornite-digenite copper  minerals, closely associated with pyrite      

2016

  • JANUARY - Rio Tinto makes enquiry into potential option agreement                                  
  • APRIL - Rio Tinto takes option at Kabba                                       
  • MAY- Drill Hole K-12                                        
  • Key geological features include: disseminated chalcopyrite, molybdenite, strong sericitic alteration, hydrothermal breccia intervals                                           
  • Results suggest that K-12 was drilled on the flank of a porphyry copper system
                                         
  • SEPTEMBER - Rio Tinto holds first townhall in Kingman, AZ                                                 
  • NOVEMBER - First comprehensive geophysics program  on the project
 

2018

2017

  • JANUARY - Geophysics analysis results in property expansion of 55% (4000 acres)                                        
  • MARCH- Rio Tinto holds second townhall in Kingman, AZ                                             
  • JULY - Initial 2017  drill program targeting IP highs                                                              
  • SEPTEMBER- Allocated budget completes 5 holes                                              
  • All holes intercepted oxidized and leached capping in Laramide-age porphyritic intrusive rocks, several showing limited concentrations of chalcocite & chalcopyrite                                             
  • Drilling confirms the scale of the target is very large                                                     
  •  DECEMBER - Rio returns to test  northerly extent of IP anomaly  with holes K-18, 19

2019

  • JANUARY - K-20  encountered the best mineralization to date indicating proximity to the targeted 2 km by 3 km Laramide porphyry buried beneath 200m to 400m of basin fill.                                             
  • Appearance of potassic alteration with more frequent veins and quartz stringers suggests K-20 has approached the higher temperature region of the porphyry system.
  • Chalcopyrite, bornite and chalcocite in drill core suggest potential for a hypogene enrichment zone with higher-than-average copper grades
  • FEBRUARY - Re- commenced drilling and related field activities at K-20
  • FEBRUARY -  K-18  K-19 display disseminated pyrite and D-veinlets in Laramide porphyry and Precambrian granite beneath 40 to 150 meters of strongly hematitic leached capping                                                
  • MARCH - Bell regains 100% of Kabba Project. Rio returns all interest earned.
                 
  • JUNE - Bell  drills precollar  for K-20. Cuttings reveal proximal indicators to copper shell including abundant flourite and   grains of gold
  • AUGUST - Cordoba minerals takes option. Cordoba is 72% owned by High Power Exploration (“HPX”), a private company led by Co-Chairman and CEO Robert Friedland).
 
  • SEPTEMBER - Core drilling of K-20 begins