Vancouver, British Columbia -- Bell Copper Corporation ("Bell" or the "Company") (NEX: BCU.H) is pleased to announce that it has completed an agreement with Kennecott Exploration Company (KEX), a wholly owned subsidiary of Rio Tinto plc., under which KEX has the right to earn a 51% interest in the Company's Kabba porphyry copper project by spending US$ 3,000,000 within the next 5 years. A second option would give KEX the right to earn an additional 19% in the project by spending an addition US$ 10,000,000 over eight years. The agreement is contingent upon approval of the TSX Venture Exchange.
The Company's Kabba porphyry copper-molybdenum project lies on a productive porphyry copper trend between Freeport's Bagdad mine and Origin Mining's Mineral Park mine in northwestern Arizona, a state that has produced ten percent of the world's copper. The Kabba porphyry system has been intersected in drillholes K-8 through K-11 and was predicted to be present beneath gravel-covered hills based on a fault model linking it with an outcropping porphyry root zone 8 kilometers to the west. Drillhole K-11, completed in the summer of 2015, cut nearly 900 meters of altered and mineralized porphyry that is interpreted to be the pyritic shell surrounding a more copper-rich central zone. Planned drillhole K-12 will offset a 14-meter-thick supergene chalcocite enrichment blanket that was cut in K-11. The K-12 site shows coincident electrical geophysical anomalies across a 600-meter width that may represent a thicker version of the K-11 enrichment blanket perched on the top of a primary copper shell.
The technical content of this release has been reviewed and approved by Timothy Marsh, PhD, PEng., the Company's CEO and President. No mineral resource has yet been identified on the Kabba Project. 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.
"Extension of the Desert Fox loan to 2017 gives Bell a comfortable window in which to complete the K-12 test and raise the funds needed to repay the loan and accrued interest."
On behalf of the Board of Directors of
Bell Copper Corporation
Timothy Marsh, President, CEO & Director
For further information please contact the Company
Neither the 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.