Bard completes first phase of Lone Pine exploration
2009-09-08 07:09 ET - News Release
Mr. Eugene Beukman reports
BARD VENTURES LTD.: FIRST PHASE OF 2009 EXPLORATION COMPLETED ON THE LONE PINE MOLYBDENUM PROPERTY
Bard Ventures Ltd. has provided this update on the 2009 exploration on the Lone Pine molybdenum property. The property is located approximately 15 kilometres north-northwest of Houston, B.C., and is situated in the Omineca mining division. The initial phase of compilation of all historic exploration work, geological mapping, and soil and rock sampling have been completed.
A grid was established and cut over an area of 1.1 kilometres by one kilometre with lines at 100-metre spacing and sample sites every 25 metres. The location of the grid coverage is over the area to extend the known Alaskite zone and also cover a favourable geological area for additional molybdenum mineralization identified by the compilation of historic work, geological mapping and the recently completed 3-D induced polarization and magnetic surveys. The 2009 mapping identified the location of the favourable geological units, including new areas of alaskite and granites hosting molybdenum mineralization. The historic workings of interest, including trenches and drill holes, were all located in the field and surveyed. A total of 480 soil samples were collected at 25-metre intervals over the newly established grid.
This initial 2009 field program was very successful in locating historical mineralized showings and their location relative to the current grid, locating the margin of the coarse-grained granite with the surrounding hornfelsed volcanics along the southern and eastern contacts, the location of mineralized float samples of medium-grained granite to the east of the main granite body. Final assay results of the soil and rock samples and interpretation will determine potential drill target locations.
The Lone Pine property has a calculated measured and indicated resource at a 0.04-per-cent-molybdenum cut-off of 110.34 million tonnes grading 0.083 per cent Mo containing 201,733,000 in situ pounds of molybdenum (please refer to news in Stockwatch dated Jan. 22, 2009, for full resource disclosure).
The property has an ideal location for operations with established infrastructure including:
* Highway 16;
* A natural gas pipeline;
* A major hydropower transmission line and transformer substation;
* Is located only 15 kilometres from the CN rail line in Houston, B.C.
Bard is earning a 100-per-cent interest in the property under the terms of an option agreement (see news in Stockwatch dated Sept. 15, 2006). The Lone Pine exploration work is being conducted under the supervision of qualified person Jim Miller-Tait, PGeo, a director of Bard.
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