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Monday, January 28, 2008
Bell Resources Reports La Balsa NI43-101 Technical Report
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Vancouver, British Columbia: Bell Resources Corporation ("Bell") (TSXV:BL) is pleased to announce that proposed merger partner, Rogue River Resources Corp.(Rogue River) has received a National Instrument 43-101 Technical Report (the "Report") on its La Balsa copper project in Michoacán, Mexico. The Report, prepared by the independent engineering firm, Behre Dolbear and Company, substantiates an initial measured and indicated resource estimate of 194.6 million pounds of copper at La Balsa with an additional inferred resource and expansion potential.
To view or download the complete NI43-101 on the La Balsa copper project go to:
http://www.nexvucapital.com/i/pdf/LaBalsa_NI43-101.pdf
The NI43-101 Technical Report completes another significant milestone in the development of the La Balsa Project and adds to the following list of milestones that have been completed on the project to date:
- Expended capital of $13 million
- Completed Purchase of 100% of the La Balsa project
- Drilled an additional 175 holes (for a total of 275 on the project)
- Established a well-staffed base of operations near the project
- Purchased surface rights for the mine, plant, and facilities
- Completed baseline environmental studies, with permitting in progress
- Purchased a 30 million pound-per-year SX-EW plant
- Commenced an internal pre-feasibility study
- Completed a NI 43-101 Report and resource estimate of plus 194.6 million pounds of copper
The following steps will be required on the La Balsa project going forward:
- Completion of a Definitive Feasibility
- Completion of Permitting
- Completion of CAPEX build
- Initiation of SX-EW production
In the future the La Balsa project will progress toward achieving the following:
- Expansion of resources for both the SX-EW and Sulfide/Floatation production
- The addition of sulfide Production (Floatation to Concentrate)
- The evaluation of the project's porphyry potential
Below is a mineral resource summary taken from the NI43-101 on the La Balsa project:
La Balsa Deposit Mineral Resource Summary
(Cutoff Grade Is 0.2% Copper) |
| Oxidation Zone |
Class |
K tonnes |
Copper (%) |
Copper (t) |
Copper (M lb) |
| Oxide |
Measured |
1,069 |
1.16 |
12,370 |
27.3 |
| Indicated |
986 |
0.89 |
8780 |
19.3 |
| Subtotal |
2,055 |
1.03 |
21,150 |
46.6 |
| Inferred |
186 |
0.63 |
1,170 |
2.6 |
| Mixed |
Measured |
848 |
1.08 |
9,140 |
20.1 |
| Indicated |
854 |
0.81 |
6,930 |
15.3 |
| Subtotal |
1,702 |
0.94 |
16,060 |
35.4 |
| Inferred |
150 |
0.62 |
930 |
2.0 |
| Sulphide |
Measured |
4,086 |
0.74 |
30,410 |
67.0 |
| Indicated |
3,574 |
0.58 |
20,670 |
45.6 |
| Subtotal |
7,660 |
0.67 |
51,080 |
112.6 |
| Inferred |
370 |
0.70 |
2,580 |
5.7 |
| Total |
Measured |
6,003 |
0.86 |
51,920 |
114.5 |
| Indicated |
5,414 |
0.67 |
36,370 |
80.2 |
| Subtotal |
11,417 |
0.77 |
88,290 |
194.6 |
| Inferred |
707 |
0.66 |
4,680 |
10.3 |
Behre Dolbear's mineral resource estimates for the La Balsa deposit have been summarized from Behre Dolbear's ordinary Kriging (OK) block model. At a cutoff grade of 0.2% copper, the total measured and indicated resources at Iguana Prieta, La Virgen, and Playa Azul are 11.4 million tonnes with an average copper grade of 0.77% containing 88,300 tonnes or 194.6 million pounds of copper metal. In addition, there is an inferred mineral resource of 0.7 million tonnes with an average copper grade of 0.66% containing 4,700 tonnes or 10.3 million pounds of copper metal. Qingping Deng, Ph.D., C.P. Geol. of Behre Dolbear was responsible for the resource estimate contained in the NI43-101 on the La Balsa Copper project.
Brian K. Jones B.Sc., M.Sc., Project Manager at La Balsa, is the Qualified Person on the La Balsa project.
About Bell Resources Corporation
On September 4, 2007, Bell Resources announced it had entered into a proposed business combination with Rogue River Resources Corp., a non-reporting company ("Rogue River") and Grandcru Resources Corporation ("Grandcru") (TSXV: GR) whereby the three companies will complete a business combination to form one company and collectively benefit from the exploration potential of Bell and Grandcru's copper exploration assets and near term production potential of Rogue River's La Balsa Project.
Bell Resources is focused on the exploration and development of a diversified portfolio of base metal projects in the America's most prolific copper producing regions. Bell's corporate strategy concentrates on advancing assets toward production, while continuing to target new acquisitions with geological potential and economic viability.
On Behalf of the Board of Directors of
Bell Resources Corporation
"W. Glen Zinn"
W. Glen Zinn, President and CEO
Contact Information
For further information please contact the Company
Tel: 604 669-1484 or email: info@bellresources.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties.
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