"PERSEVERANCE Represents an Extraordinary Opportunity for Discovery of an Outsized High Grade Copper Porphyry Deposit in Arizona."
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.
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.
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.
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
Perseverance Project is situated along the Arizona Volcanic Arc and on-trend with other significant Arizona porphyry copper deposits
PERSEVERANCE ROCK SHOP
*Mineralization shown is from selected intervals, and not necessarily representative or indicative of the mineralization hosted on the Perseverance property
Apatite rimming Magnetite
Part of a 1.8 metre wide silica ledge carrying tennantite, sphalerite, galena, pyrite and chalcopyrite
Bornite & chalcocite rimming Chalcopyrite at 1029 meters
Blebby chalcocite after chalcopyrite
Bornite replacing chalcopyrite
Bornite-chalcocite smeared across fault plane
Bornite rimmed by chalcocite
Breccia dike- straight down
Chalcopyrite veins partially replaced by bornite-chalcocite, 1029 metres
Chalcopyrite veins partially replaced by bornite-chalcocite, 765 metres
Chalcopyrite-fluorite cutting quartz
Hydrothermal magnetite with chalcopyrite-pyrite and pervasive potassic alteration at approximately1032 metres.
More milky quartz
more sheeted chalcopyrite veins
Powellite grains in K-20 core
quartz-chalcocite-hematite-chalcopyrite cut by D-vein
Rutile in biotite-pyrite veinlet
sericitic alteration with pyrite
quartz-ser-py in late dactite porphyry dike
sheeted chalcopyrite Veins
3mm gold nugget panned from K-20 precollar cuttings
Core photography and logging on K-20 drillsite