- BCM Resources Corporation completes a non-brokered private placement raising C$2.575 million.
- Proceeds from the financing will support working capital and pay outstanding accounts.
- BCM's Thompson Knolls project in Utah shows promising drill results with significant Cu, Au, and Ag mineralization.
BCM Resources Corporation (B) has successfully concluded a non-brokered private placement financing, securing C$2,575,000 through the issuance of 20,600,000 Units priced at C$0.125 each. Each Unit consists of one common share and one warrant, which is exercisable at C$0.25 for a year. The sole subscriber, a private mining company, is making a strategic, long-term investment in BCM.
The funds raised will be utilized for general working capital and to settle outstanding accounts payable. This financial move underscores BCM's commitment to advancing its flagship Thompson Knolls project, located in Utah's highly-rated mining jurisdiction.
The Thompson Knolls project is a promising greenfield porphyry Cu-Au-Ag-Mo discovery. Recent drill results from hole TK8 have been particularly encouraging, intercepting a 155.4-meter interval of mineralized skarn that averages 0.66% copper, 0.12 grams per tonne gold, and 7.4 grams per tonne silver. This includes a notable section with 1.25% copper, 0.2 g/t gold, and 15 g/t silver over 21.3 meters.
To facilitate further exploration, BCM operates under a 10-year drill permit from the U.S. Bureau of Land Management. The company plans to seek additional strategic investors to continue exploration efforts at the Thompson Knolls site.
