Early in 2022, Bell Copper Corporation reported that drill hole BS-3 had discovered a porphyry copper deposit on its Big Sandy property in Arizona (refer to February 2, 2022 news release). While drill hole BS-3 did not enter the mineral rich copper shell, it does provide strong evidence for close proximity to the target including 200 meters of chalcocite (copper sulfide mineral) grading 0.42% Cu and 2.4 g/t Ag from 1302 meters to 1502 meters, and an additional 524 meters from 1502 to 2026 meters (total depth) of chalcopyrite grading 0.16% Cu and 2.2 g/t Ag.0. The entire 724-meter sulfide interval from 1302 to 2026 meters carried 10 weight percent pyrite and was characterized by pervasive sericitic alteration hosted by quartz monzonite porphyry, representing a typical copper-poor pyrite shell surrounding an anticipated copper shell. Metallurgical testing of the 200-meter chalcocite intercept produced a flotation concentrate grading 25% copper and 130 grams per tonne silver, with copper recovery up to 84% and silver recovery of 68%.

Bottle-roll testing of the same chalcocite interval showed that 96% of the copper was recoverable by a leaching approach. Flotation testing of molybdenite, hindered by low feed grade, yielded a molybdenum concentrate grading 20.7% Mo. Testing for the strategic metal rhenium showed that a concentrate running 50% Mo would carry around 1700 g/t rhenium.

Chalcocite and chalcopyrite were previously seen in drillholes BS-1 and BS-2 located 1.2 kilometers and 2.3 kilometers, respectively, from discovery hole BS-3. The kilometer-scale dimensions of copper mineralization between these three holes compare well with the known 5-kilometer by 6-kilometer dimensions of the exposed and faulted-off roots of the porphyry system, cropping out west of the property. The Company is currently permitted to drill up to 10 follow-up holes from two drill pads, 900 meters apart. An access road connecting the two drill pads has been constructed and a water well has been plumbed to the site.

Drilling of BS-4 to test the inferred copper-rich heart of the porphyry system is expected to begin before the end of the year.