🕐04.06.12 - 01:27 Uhr

BLUE RIVER RESOURCES ADDS POTENTIAL TO BCS COPPER FUTURE



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Blue River Resources Adds Potential to BCs Copper Future

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As declines seem to be on the horizon for the worlds primary copper producing mines located in Mexico, a resurgence in British Columbia for the development of bulk-tonnage copper deposits is occurring at a fevered pace. With 3 mines already in production and several in development, BC is gaining recognition for having outstanding potential for large copper deposits and new discoveries.

In comparison to other mining districts in the world, what BC lacks in eye-popping grades, it makes up for in low country risk and enhanced accessibility. This has led to the surge in value for producers such as Copper Mountain (CUM: CA) and Teck (TCK :CA) who have brought on significant production over the last few years. Anticipation for further companies to join the mix has drawn attention towards earlier stage players such as Yellowhead Mining (YMI: CA) with properties near Kamloops, and for even earlier stage Blue River Resources (BXR: CA), which boasts a sizable land position in the Princeton area and Highland Valley BC.

For Blue River, the strategy so far has been simple: to situate all of its properties within the regional mineralized trend known as the Nicola Volcanic Belt. This belt lies within the southern extension of the Quesnel Trough, which is rated as one of the best geological trends in the world for copper exploration. The region has drawn the likes of Xstrata Copper (the fourth largest copper producer in the world), which has aggressively moved into the area for exploration purposes, with four joint ventures in the last two years. Of those joint ventures, two Xstrata properties flank Blue Rivers Castle Copper Project.

Castle Copper Project

Located 25 km north of Copper Mountains producing mine in Princeton, BC, Blue Rivers 100%-owned Castle Copper project is situated on the Nicola Volcanic Belt, a geological feature that appears to control copper mineralization in the area. Consisting of mining claims totaling 8,000 hectares (18,500 acres), the project ranks as one of the largest land positions in the same region that hosts both the Copper Mountain Mine and Tecks Highland Valley Copper Mine (Canadas largest copper mine).

The neighbourhood of the Castle Copper Project is becoming more popular, with the entry of Xstrata Copper in recent years that includes Big Kidd Property JV with Jiulian Resources, and the Axe Property with Bearclaw Capital and Weststar Resources.

Historic drilling on the property resulted in a range of 100 ft of 0.65% to 230 ft of 1.1% Cu (copper). Blue River is in the process of drilling and conducting geophysical surveys to prove a theory that the mineralized zone may extend over 2.5 km in a northerly direction from their latest drill program in 2011. That program resulted in copper mineralization in 8 of 9 holes, with one intersection of 600 feet grading 0.04% copper and 120 feet grading 0.16% copper. The results were encouraging despite the small size of the initial drill program. Further inspection is definitely warranted on the property, as Sego Resources (directly to the south) reported a drill result in February of this year of 300 feet of approximately 1% copper. Additional drilling, mapping and geophysics are on deck for this project in 2012.

Highland North and South Projects

The Nicola Belt continues to stretch from the US border to Highland Valley, where Teck has established Canadas largest base metal mine. Blue Rivers Highland projects are located at the northern extension of the Nicola Volcanic Belt in comparison to the Copper Mountain Mine located at the southern end. Totaling 8,700 acres, Blue Rivers properties are near to Dot Resources (5 million tons of 0.5% copper), Happy Creek Minerals and directly adjoin Tecks Highland Valley Copper Mines (Highland North to the north, and South to the south).

The geology, alteration and copper minerals on the Highland North Property are consistent with Highland Valley-style porphyry copper systems that are known to have considerable size and depth potential. Historic trenches on the property partially expose a north-to-northwesterly trending copper zone of approximately 760 metres in length and 120 metres in width. Important to look at is the fact that the trenches do not delineate the overall width or length of the mineralized zone.

Data accumulated to date suggests the target area could be 1.5 km in length and even wider than the 120 metres than the trenches revealed. Nine historic drill holes averaging 95 metres in depth reported grades of 0.5% to 2.5% copper over intervals of 1.1 to 7.0 metres. As recently as 2010, property assessments unearthed seven representative rock samples obtained from the Highland North trenches ranging from 0.25% copper to 1.68% copper, with an average of 0.86% copper.

Highland South also sits in favourable proximity to high-profile properties, in that its directly adjacent to Teck Resources to the west, Happy Creeks Rateria project ot the north and Dot Resources to the east. Located approximately 12 km south of Highland North, the South property holds large bluesky potential, having received far less work to date. Nearby results from the Rateria Project brought back 162 metres (490 feet)of 0.33% copper, 95 metres of 0.65% copper and 102 metres of 0.45% copper, while Dot Resources has an estimated copper mineral resource of 5.33 million tons grading 0.45%.

Blue River plans to conduct diamond drilling, mapping, soil sampling and geophysical surveys as its initial phase of exploration on the Highland North and South properties this year. The results from these actions could raise the companys profile in the region quite substantially.

The Bottom Line

The Blue River team is led by Griffin Jones, President, who comes with an extensive mining background that includes bringing an open pit, heap-leach gold mine in Nevada to production during his time with Minerex Resources, before it was acquired by Amax in 1990. That mine was successfully financed and placed into production by a team that Jones was a part of, and is an accomplishment that Jones aims to repeat with this venture.

Through these three projects, Blue River has situated itself among some leading copper barons looking to see British Columbia re-emerge as a base metal powerhouse.

Closer on the horizon is the flagship Castle Copper Project, which has plenty of potential left to explore. A small drill campaign in 2011 is to be followed up properly this year to inspect whether results similar or better than what Sego unearthed (1% Cu over 300 feet) are within their land position.

The Highland Properties also provide plenty of room for growth potential, given their proximity to Tecks massive Highland Valley Mine. Though the Castle property will gain the most attention, Highland isnt something to ignore.

Its best to remember the early stage of development that Blue River is in, as it went public in September 2011. Any positive news could see the stock price appreciate quickly, due to its low capitalization. Blue Rivers properties are all well-located near existing mines, so the potential to attract a joint venture is high. With further declines expected in Mexico, where much of the worlds copper is currently produced, expect British Columbias Quesnel Trough to pick up some of the slack.

G. Joel Chury
The Bottom Line Report

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