Bell hits copper at Granduc (January 02, 2006)

Vancouver — Initial drill holes from Bell Resources‘ (BL-V, BZRSF-O) Granduc mine project, in northwestern British Columbia, have delivered significant copper grades.

The 5-hole program, testing geophysical targets at the past-producer, cut zones of chalcopyrite-magnetite-pyrrhotite mineralization returning high-grade copper values. Results include:

– hole 2005-1 — 7.6 metres (true thickness) from 92.7 metres down-hole depth averaging 2.2% copper and 11.8 grams silver per tonne, and two deeper 2-metre intercepts grading 1.7% and 1.8% copper and 18.8 and 21.8 grams silver per tonne, respectively;

– hole 2005-3 — 4 metres (true width) from 163 metres grading 1.8% copper and 20.7 grams silver, followed by a deeper 4.8-metre interval of 1.5% copper and 13.1 grams silver;

– hole 2005-4 — 7.8 metres (true width) from 218 metres averaging 2.6% copper and 6.7 grams silver, with a deeper 3.4 metres (from 366 metres) of 2% copper and 20.3 grams silver; and

– hole 2005-5 — 1.7 metres (from 197 metres) of 2.4% copper and 17.4 grams silver, 1.5 metres (from 263 metres) of 3.9% copper and 36 grams silver, and 8.1 metres (from 417 metres) grading 2.1% copper and 23.2 grams silver.

Copper-gold mineralized intercepts also ran from 0.1-0.25 gram gold per tonne with some minor cobalt values. Holes were positioned south of historic mine workings to test the strike continuity of known ore horizons; they confirmed the sulphide-ore zones previously mined at Granduc extend at least 240 metres southward along strike and more than 240 metres downdip. Results indicate a trend of increasing copper grade and thickness both downdip and to the southwest. Mineralization is open in both directions.

Historic grades from the Granduc mine averaged 1.8% copper, 7 grams silver and 0.1 gram gold per tonne.

The mine operated from 1969 to 1983, producing about 420 million lbs. copper, 4 million oz. silver and some gold from the volcanogenic massive sulphide deposit.