Business
Bell Copper Announces Kabba Project Update
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2018) - Bell Copper Corporation (TSXV...
About this update from Bell Copper Corporation
[{"type":"text","content":"Bell Copper Announces Kabba Project UpdateVancouver, British Columbia--(Newsfile Corp. - March 16, 2018) - Bell Copper Corporation (TSXV: BCU) (\"Bell Copper\" or the \"Company\") is pleased to provide an update on its 100% owned Kabba porphyry copper project located in Mohave County, Arizona.Highlights Bell Copper regains 100% interest of Kabba ProjectCompany retires debenture secured by Kabba projectDec 2017 drill assays show close proximity to copper shell2018 drilling to begin 2nd quarterBell closes first tranche of $0.10 financing for proceeds of $256,000Kennecott Option TerminationIn 2017, Kennecott Exploration executed their initial exploration plan at Kabba by drilling 7 holes targeted on Induced Polarization (IP) anomalies identified in their geophysics program. This work brought their total expenditure to exceed $3 million on the Kabba project under the option agreement described in the Company's news release on April 19, 2016. Bell Copper has been advised by Kennecott Exploration that they will be returning to the Company any and all interest in Kabba that they may have earned through work expenditures and withdrawing from the option agreement. Bell Copper thanks Kennecott for the exploration expenditure and the decision to return 100% ownership of Kabba to Bell Copper.Tim Marsh, CEO, states, \"We are very excited to have Kabba back. We look forward to drilling our priority targets in the very near term.\"Debt RetirementThe Company is pleased to report that it has retired debt secured against the Kabba project. The Company's 100% ownership of Kabba is now clear of any encumbrances.K-18, K-19 Assays and Target UpdateDrillholes K-18 and K-19 were completed late in 2017 to test the northerly extent of a strong Induced Polarization (IP) chargeability anomaly. The holes revealed abundant disseminated pyrite and D-veinlets in Laramide porphyry and Precambrian granite beneath 40 to 150 meters of strongly hematitic leached capping starting 240 to 330 meters below surface. Anomalous disseminated sphalerite (zinc sulphide) was present in both holes beneath leached capping. Trace chrysocolla (copper silicate) was present in K-19, further supporting the concept that supergene leaching and copper enrichment operated at Kabba, and that a copper shell might be present nearby.Drillholes K-8 through K-19 surround an as-yet-undrilled, ...