Ellixor Financial Investments

Ellixor - investment picks for microcap stocks.

Tuesday, July 04, 2006

BCMetals Delays Drilling Program for Fish Habitat

This delay spawns yet another great opportunity to load up on this stock before drilling resumes in October.

bcMetals Corp. has temporarily suspended mobilization of the drill rig and support equipment to its Red Chris property to undertake the exploration program previously reported in Stockwatch on May 30, 2006, due to the presence of spawning rainbow trout at a permitted creek crossing along its access tote road. bcMetals will monitor the creek crossing and remobilize equipment once it is demonstrated safe to do so without impacting rainbow trout spawning activity, expected to be around mid-August. The Red Chris exploration camp has been reactivated and will be held on a care and maintenance basis during the interim period. Based on a mid-August start-up, the drilling program should be completed on or before mid-October.
The 7,000- to 10,000-metre diamond drilling program will focus on the Far West and Gully zones, which lie to the southwest of the East and Main zones, the target of the currently designed open pit. The Far West and Gully zones have a inferred resources of 116 million tonnes at 0.32 per cent copper and 0.29 gram per tonne gold, at a 0.20 per cent copper cut-off, as estimated from 16,432 metres of diamond drilling in 51 holes. The object of the new drilling program is to improve the confidence level of this estimate from "inferred" to "measured and indicated" as a basis for preparing a feasibility study, and to potentially expand the size of the existing 43-101 reserve. At least one hole will be drilled in the East zone to test extensions at-depth that could represent a future underground target due to the East zone's high grade.

0 Comments:

Post a Comment

Links to this post:

Create a Link

<< Home