BCM Resources Corporation Announces Financing

Proceeds to Drill Thompson Knolls Project Cu-Au-Mo Porphyry in Utah, USA

Not for distribution to U.S. news wire services or dissemination in the United States

BCM Resources Corporation (TSXV:B), is pleased to announce a non-Brokered private placement financing for proceeds of up to C$3,125,500 through the issuance of up to 12,500,000 units ("Units") priced at C$0.25 per Unit. Each Unit is comprised of one common share of the Company (a "Share") and one share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of C$0.33 for one year from the date of issue. All the securities issuable will be subject to an applicable hold period from the date of issue

Proceeds from the financing, will be used to continue the ongoing drilling and geophysical exploration program, led by the Company's President and CEO, Dr. Sergei Diakov at BCM's Thompson Knolls (TK) Property. Thompson Knolls is a Porphyry Cu-Au-Mo Discovery project located via highway 6-50 in West Central Utah, USA. The financing is subject to approval by the TSX Venture Exchange. 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.

About Thompson Knolls (TK) - Greenfield Porphyry Cu-Au-Mo discovery in Utah

BCM Resources Corp has a 100% interest in the TK project, located in west-central Utah, USA. TK is a greenfield discovery of a blind Porphyry Cu-Au-Mo system. TK is well-situated 210 km southwest of the world-class Bingham Canyon porphyry copper-molybdenum-gold mine of Rio Tinto. Discovery hole, TK18-1, intersected a porphyry copper mineralized body of quartz monzonite porphyry (QMP) with locally strong potassic plus quartz-sericite alteration and locally abundant pyrite and lesser oxide copper mineralization. The QMP intruded a pre-mineral body of quartz latite porphyry. This is suggestive of the typical porphyry copper-gold system. TK Phase 3 drilling program of permitted total 7 (seven) drillholes is currently underway intercepting mineralization both in marble-diopside skarns surrounding the QMP intrusion and within the intrusive stockwork itself. The TK Porphyry Cu-Au-Mo system is entirely covered by post mineral fanglomerate creating challenges for better understanding of the system and vectoring to its copper core. Systematic drilling of Phase 3 program is designed to test extensions of the TK mineralized system and pinpoint location of its highest-grade copper mineralization. Our drilling contractor is currently advancing drillhole TK10 in the north-eastern part of the system (see presentation at BCM website Thompson Knolls Porphyry Cu-Mo-Au Discovery August 2020 (bcmresources.com).

About BCM Resources Corporation

BCM Resources Corporation is a diversified Canadian mineral exploration company now focused on completing the discovery drilling of the Thompson Knolls property, its key asset. BCM also controls prospective Copper, Gold, and Molybdenum exploration projects in British Columbia. BCM Resources is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.bcmresources.com or contact us by e-mail at info@bcmresources.com.

ON BEHALF OF BCM Resources CORP.
"Sergei Diakov"
President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations,
Telephone: 1 (604) 646-0144, ext. 222
info@bcmresources.com
www.bcmresources.com

Caution Concerning Forward-Looking Statements:

This news release and related texts and images on BCM Resource Corporation's??? website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward-looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions, and; the possibility of cost overruns or unanticipated expenses in these exploration programs.

SOURCE: BCM Resources Corporation



View source version on accesswire.com:
https://www.accesswire.com/745047/BCM-Resources-Corporation-Announces-Financing

News Provided by ACCESSWIRE via QuoteMedia

B:CC
The Conversation (0)
Empire Metals

Empire Metals Limited Announces Drilling Outlines Large, High-Grade Zone

Empire Metals Limited, theAIM-quoted and OTCQB-tradedexploration and development company,is pleased to report outstanding assay results from its latest drilling campaign at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme, focused on the in-situ weathered cap at the Thomas Prospect, has delivered some of the highest titanium dioxide ('TiO₂') grades recorded to date and will underpin the Company's maiden JORC-compliant Mineral Resource Estimate ('MRE').

Highlights

Keep reading...Show less
Electric Royalties (TSXV:ELEC)

Electric Royalties Announces Interest Conversion under Convertible Credit Facility

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") announces that Gleason & Sons LLC (the "Lender") has elected to convert C$536,500.00 of accrued interest on the principal amount of the Company's convertible credit facility (the "Interest") under the amended and restated convertible loan agreement dated February 16, 2024 between the Lender and Company (the "A&R Agreement"), into 3,700,000 common shares of the Company (the "Conversion Shares"), at a conversion price of C$0.145 per Conversion Share (the "Interest Conversion"). Subject to acceptance of the TSX Venture Exchange (the "TSXV"), the Company expects to issue the Conversion Shares in August 2025.

Keep reading...Show less
 Adam Woolridge, CEO of Cobre.

Cobre Unveils Maiden Resource at Comet, Targets Low-cost In-situ Copper Recovery

Highlighting the first mineral resource estimate (MRE) at Comet within the Ngami copper project in Botswana, Cobre (ASX:CBE) CEO Adam Woolridge outlines a path toward low-cost, scalable in-situ copper recovery, backed by significant exploration upside.

“You're looking at an exploration target of 200 million to 300 million tonnes at around 0.4 percent copper,” Woolridge said.

“When you start looking at this as an in-situ copper recovery process, you have really good grade continuity. And this has been reflected in the MRE. And it's also come out from just looking at this deposit from a geometry point of view — it's got a really simple geometry, a lot of great continuity, and it's been relatively cost effective to move each tonne of contained copper into category.”

Keep reading...Show less
"Welcome to Arizona" sign with sunburst design against a blue sky background.

Hudbay Secures US$600 Million Mitsubishi Partnership for Arizona Copper Project

Hudbay Minerals (TSX:HBM,NYSE:HBM) has struck a US$600 million deal with automobile giant Mitsubishi (TSE:8058) for a 30 percent stake in its Copper World project in Arizona, marking one of the largest foreign investments in the US copper sector in recent years.

Announced Tuesday (August 12), the agreement will see Mitsubishi pay US$420 million on closing and a further US$180 million within 18 months.Mitsubishi will also fund its 30 percent share of future capital contributions as the mine moves toward full construction.

Keep reading...Show less
Copper bars with weight stamps, stock market chart background.

What Was the Highest Price for Copper?

Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

Keep reading...Show less
Map of Argentina with the Chilean flag placed in central Argentina.

Codelco Seeks Partial Restart at El Teniente Mine After Fatal Collapse

Chile’s state-owned copper giant Codelco is seeking approval to restart parts of its flagship El Teniente mine less than a week after a deadly collapse killed six workers and forced a full suspension of operations, according to sources familiar with the matter.

The accident, triggered by a 4.2-magnitude seismic event last Thursday (July 31), halted production at the world’s largest underground copper mine.

Keep reading...Show less

Latest Press Releases

Related News

×