Permission Granted To Post The Comments Below By The Editor Of GSW
Thank you Richard for your kindness.
Editor's comments: The insiders are buying in to Bell's 10 cent private placement to help fund continued drilling at the Kabba project in northwestern Arizona. This resumed drilling, for those who need a reminder of what's at stake here, is designed to locate a truncated major Mo-Cu porphyry system that lies under shallow cover on Bell's property. You see, there's a 12 km long by 1.5 km wide Laramide-age porphyry Mo/Cu system on the western edge of the Kabba prospect where drilling was conducted between 1959 and 1984 by Bear Creek Exploration, Union Carbide, AMAX, Cerromin, Conoco, Hanna, Kerr-McGee, Santa Fe, and Noranda. These companies demonstrated 15 square kilometers of intense greisen and potassic alteration, quartz veining, and highly anomalous molybdenum and copper contents, but failed to locate an economic deposit. Bell's VP of Exploration, Tim Marsh (P.Eng., Ph.D., Stanford), is pretty much the most knowledgeable guy on the continent when it comes to these types of deposits, having drilled out much of the massive Resolution deposit for Rio Tinto as their sub's Chief Geo before leaving the comfort of big company security to take his best ideas and chase his dreams in a junior.
Tim has completed the detailed work programs, including mapping, geophysics, geochemistry and initial drilling, and is zeroing in on what should be the missing faulted-off top of that massive partially outcropping porphyry system. He determined that what everyone historically drilled was a deep level root zone exposure, beneath what would have been a huge potential copper shell. A major fault located on the west edge of the Kabba prospect separates this root zone from a down-dropped block that he's sure will contain the richer copper-bearing parts of this porphyry system. Integration of surface and drill data provide a 15 square kilometer target area extending from the last drill hole (K-5) to more recently mapped outcrops showing quartz porphyry intrusions overprinted by sericitic alteration and Mo-Cu-As-Se-W mineralization. A seismic study showed that the fault cuts the porphyry at a surprisingly shallow angle of 30°, meaning that it should be relatively shallow but further away, and not deep and close by as originally expected.
Reconstruction of a basalt marker found on both sides of the fault suggests that the more prospective part of the Kabba porphyry system lies about 5.6 kilometers east of that greisenous root zone. Drilling confirmed the shallow dip of the fault and in K-4 cut more than 900 meters of variably sericitized rocks, including 20 andesite porphyry dikes. Mineralization in the drill hole included multiple molybdenite-bearing quartz veinlets, local arsenic-rich pyritic breccia, and common disseminated fluorite. These strong similarities with the footwall outcrops more than 5 kilometers to the west make it likely that K-4 penetrated the hanging wall of the dismembered porphyry system. The thickness of cover rocks at the K-4 site was only 100 meters, suggesting that most of the 15-square-kilometer target area will also be under relatively shallow cover. Folks, it just doesn't get any better than this in this business. This is why we own alot of Bell ... as well as knowing that Sombrero Butte is equally as exciting ... but let's leave that story for another day.
Bell is our biggest share position in the Model Portfolio, and a drill hole through the expected heart of this expected porphyry will be like winning the Super Lottery - a potentially life-changing event. Dr. Marsh likens this quest to a Spanish galleon treasure hunt where you have spent years researching the ship logs, the Admiralty records, eye-witness reports and historical archives to determine that your target ship did indeed sink in the area, had a fortune of gold bars on it, that no one ever found it, and that your triangulation as to its location is pretty accurate - you just have to methodically narrow in to the target by getting out there and getting your hands dirty. For Tim, it's not a question of if but when, and this will be his life's work if necessary - although he's feeling very very confident that it's very close at hand. And the insiders are putting their money on it, as we have.
Bell Copper 2.75-million-share private placement
Bell Copper Corp (C:BCU)
Shares Issued 78,658,899
Last Close 6/8/2009 $0.085
Tuesday June 09 2009 - Private Placement
Warrants: 2.75 million share purchase warrants to purchase 2.75 million shares
Exercise price: 20 cents for a one-year period; the warrants are subject to an accelerated exercise provision in the event the company's shares trade above 40 cents for a period of 10 consecutive trading days
Hidden placees: five
Insider: Nexvu Capital Corp. (Brian Leeners, Gordon Fretwell, Greg Pearson and Glen Zinn) 1.07 million
