Thu Aug 3, 2006
Bell Discovers New Mineralized Zone at the Granduc Project
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Vancouver, British Columbia: Bell Resources Corporation (the Company) is pleased to announce the discovery of a new mineralized zone, the "JK Zone", which was found during the current surface prospecting work in the North Zone target area of the Company's Granduc project. The JK Zone is 4 kilometres north of the Company's recently completed drill program at Granduc and is located in what is most likely the northerly strike continuation of the same rock unit that hosts the Granduc orebody. The discovery outcrop was just recently exposed due to the melting of the Granduc Mountain icefield. The JK Zone is situated on mineral tenures held under option from Teuton Resources, 150 metres north of Bell's Granduc Crown claims.
Highlights:
New discovery is most likely the northerly strike continuation of the same rock unit that hosts the Granduc orebody.
JK Zone is 4 kilometres north of the site of this spring/summer's Phase II diamond drilling program in the South Zone.
Host rocks of the JK Zone are similar to the rocks in Unit 3v1 of the Granduc Mine Series, which hosted most of the Granduc ore.
The JK Zone is 4 kilometres north of the site of Bell's recently completed Phase II diamond drilling program in the South Zone, and is approximately 1.3 kilometres north of the Granduc North Zone historical copper resource, which is more fully described in the Company's 43-101 report of May 2005. The JK Zone appears to lie on strike with the North Zone. The JK Zone is located on the northern slope of Granduc Mountain, whereas the Granduc Mine is proximal to the south slope of Granduc Mountain.
The JK Zone is marked on the surface by numerous gossans of limonite and malachite stain, and includes massive to banded magnetite and poddy to disseminated pyrite, pyrrhotite and minor chalcopyrite. The host rocks of the JK Zone vary from banded chert and graphitic argillite to mafic flows and iron formation, similar to the rocks in Unit 3v1, the unit of the Granduc Mine Series that hosted most of the Granduc ore.
The exposed dimensions of the new discovery at surface are approximately 30 metres in length by 6 metres in width. Snow and ice conceal the south end of the zone. An angular till boulder of massive, banded magnetite with thin laminations of pyrite and chalcopyrite suggest that similar mineralization is present in the up-ice (strike) direction.
A thorough program of channel sampling is currently underway to assess the metal grades of the JK Zone. Channel sampling will be followed by drill testing when logistics permit. Information available at this time is insufficient to determine whether the JK Zone will contain enough metal to support profitable mining operations.
"The continuity of magnetite-pyrrhotite-chalcopyrite mineralization across a 4-kilometre strike length would place Granduc in the top percentiles of Besshi-style VMS deposits. Windy Craggy, located 200 kilometres north of the Granduc property in northwestern British Columbia is the largest known Besshi deposit to date," stated Tim Marsh, the Company's VP of Exploration.
Drill results from the recently completed Phase II drill program on the South Zone are anticipated within the next two weeks.
For the purposes of this news release, the Company's Vice President of Exploration, Timothy Marsh, P.E., PhD, is the Qualified Person.
About the Granduc
The Granduc project is a copper-rich magmatic volcanogenic massive sulphide (VMS-Besshi) deposit located 40 km northwest of Stewart in west-central British Columbia. Historically, the Granduc Mine produced copper, silver and gold between 1969 and 1983. Bell Resources is developing the Granduc toward potential production.
Bell Resources is focused on the exploration and development of a diversified portfolio of North American base metal projects with the most advanced being the past producing Granduc Mine. All projects will be advanced along a path toward potential production enabling Bell Resources to make the transition from explorer to producer.
On Behalf of the Board of Directors of
Bell Resources Corporation
"W. Glen Zinn"
W. Glen Zinn, CEO, President & Director
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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