Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

May 05, 2010 14:09 ET

Bard Ventures Ltd.: Drilling Intersects New Area of Molybdenum Mineralization on the Lone Pine Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2010) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce the receipt of additional significant drill hole assay results from a new area of molybdenum mineralization intersected during the 2010 winter drill program on the Company's Lone Pine Molybdenum Property located 15 kilometers north-northwest of Houston, BC in the Omineca Mining Division.

The 2010 winter drill program was completed on April 1, 2010 with the completion of nine (9) NQ drill holes from four drill sites totaling 3427.13m. Of significant interest are the results received from six (6) drill holes BD-10-61 to BD-10-66 which were collared from a common drill pad to evaluate a newly discovered zone of significant molybdenum mineralization. This newly discovered zone of molybdenum mineralization is located along the northern contact of the quartz feldspar granite intrusive 500m to the northeast of the Alaskite Zone Resource.

A summary of significant drill hole results from BD-10-61 to BD-10-66 is highlighted in Table 1 below.

Table 1 Significant Molybdenum Drill Hole Intersections

Drill
Hole
From
(m)
To
(m)
Interval
(m)
Mo
(%)
BD-10-61 81.1 83.3 2.2 0.05
  123 130.1 7.1 0.03
  133.6 178.4 44.8 0.04
incl 137.0 140.0 3.0 0.05
and 153.9 172.0 18.1 0.06
incl 153.9 157.1 3.2 0.10
incl 165.2 170.0 4.8 0.10
  232.5 243.8 11.3 0.03
incl 234.1 238.6 4.5 0.05
  255.4 313.5 58.1 0.04
incl 255.4 268.0 12.6 0.07
and 265.6 268.0 2.4 0.22
incl 265.6 266.3 0.7 0.23
and 274.5 286.4 11.9 0.06
  329.4 335.1 5.7 0.03
  377.8 383.2 5.4 0.05
incl 379.8 380.2 0.4 0.36
BD-10-62 125.5 134.4 8.9 0.05
incl 132.8 134.4 1.6 0.19
  233.1 253.5 20.4 0.05
incl 246.0 247.6 1.6 0.34
  270.7 365.0 94.3 0.04
incl 277.7 283.0 5.3 0.05
incl 299.8 314.4 14.6 0.06
incl 323.4 326.1 2.7 0.19
incl 344.5 346.5 2.0 0.10
incl 356.2 365.0 8.8 0.08
  381.4 389.0 7.6 0.05
incl 385.1 389.0 3.9 0.08
  448.0 450.2 2.2 0.17
BD-10-63 72.1 78.0 5.9 0.05
  102.7 113.0 10.3 0.05
  135.0 141.0 6.0 0.05
  189.3 192.1 2.8 0.06
  243.4 286.1 42.7 0.04
incl 258.8 276.2 17.4 0.05
  324.0 339.0 15.0 0.04
BD-10-64 64.0 69.5 5.5 0.03
  76.0 91.0 15.0 0.05
BD-10-65 160.3 170.6 10.3 0.06
  193.0 510.9 317.9 0.03
incl 207.2 212.0 4.8 0.06
and 249.0 267.2 18.2 0.04
incl 249.0 257.0 8.0 0.05
incl 264.8 267.2 2.4 0.06
and 283.8 316.0 32.2 0.04
incl 283.8 288.8 5.0 0.08
incl 305.8 309.0 3.2 0.07
incl 311.0 316.0 5.0 0.06
and 361.0 422.6 61.6 0.04
incl 370.9 374.0 3.1 0.21
incl 393.6 401.0 7.4 0.05
incl 412.0 422.6 10.6 0.06
and 482.3 487.0 4.7 0.06
and 508.9 510.9 2.0 0.09
BD-10-66 151.3 175.4 24.1 0.04
incl 151.3 162.9 11.6 0.06
  221.6 232.3 10.7 0.04
incl 221.6 227.9 6.3 0.06
  247.9 360.3 112.4 0.05
incl 247.9 248.8 0.9 0.22
incl 260.2 263.2 3.0 0.07
incl 275.8 288.1 12.3 0.08
and 291.7 344.3 52.6 0.06
incl 291.7 304.4 12.7 0.08
incl 317.5 319.2 1.7 0.09
incl 331.6 337.0 5.4 0.06
incl 340.6 344.3 3.7 0.15
  367.3 467.0 99.7 0.04
incl 379.8 387.0 7.2 0.07
and 410.0 419.0 9.0 0.10
incl 410.0 410.7 0.7 0.21
incl 418.0 419.0 1.0 0.55
incl 451.0 455.0 4.0 0.17
incl 464.0 467.0 3.0 0.08
  496.5 498.4 1.9 0.06

In addition to the above intervals of molybdenum mineralization, elevated and anomalous silver mineralization was also intersected over significant intervals as outlined in Table 2.

Table 2 Significant Silver Drill Hole Intersections

Drill
Hole
From
(m)
To
(m)
Interval
(m)
Ag
(g/t)
BD-10-61 253.2 290.4 37.2 12.51
incl 265.6 271.0 5.4 74.18
BD-10-62 28.4 90.1 61.7 3.77
  184.1 247.6 63.5 5.13
         
incl 214.1 220.1 6.0 7.87
incl 223.0 223.3 0.3 174.0
incl 234.0 237.3 3.3 31.19
incl 241.0 244.0 3.0 10.47
  259.5 263.2 3.7 6.72
  299.8 307.0 7.2 7.89
BD-10-63 8.1 33.0 24.9 5.1
incl 14.8 23.1 8.3 13.91
  20.9 23.1 2.2 43.78
  70.6 76.1 5.5 17.68
  248.3 255.6 7.3 6.38
BD-10-64 64.0 69.5 5.5 10.66
BD-10-65 24.0 45.5 21.5 4.25
incl 30.0 32.0 2.0 28.3
  156.0 164.0 8.0 3.98
  204.6 232.6 28.0 4.68
incl 217.5 225.2 7.7 14.7
BD-10-66 6.1 41.2 35.1 2.27
  83.6 92.2 8.6 4.6
incl 87.3 92.2 4.9 7.6
  144.0 153.3 9.3 3.14
  160.9 217.0 56.1 2.59
incl 196.2 214.7 18.5 4.67

Drill holes BD-10-61 (431.9m) and BD-10-62 (505.05m) were collared along an azimuth of 18 degrees with drill hole angles of 45 degrees and 65 degrees respectively. Drill holes BD-10-63 (438.27m) and BD-10-64 (108.81m) were collared along a drill hole azimuth of 45 degrees at angles of 45 degrees and 65 degrees respectively. Drill hole BD-10-64 was terminated early due to excessive deviation. Drill holes BD-10-65 (541.63m) and BD-10-66 (529.44m) were collared along a drill hole azimuth of 344 degrees at 45 degrees and 65 degrees respectively. The above pattern of drill holes evaluated the newly discovered zone of quartz vein hosted molybdenum mineralization over a strike length of approximately 110m in an east-west direction to vertical depths of approximately 350m. Significant molybdenum mineralization has been intersected with intervals averaging 0.05% Mo over drilled widths up to 112.4m with higher grade intersections averaging 0.1% Mo over drilled widths of 9.0m. Significant intervals of silver enrichment is associated with the quartz feldspar granite intrusive reporting up to 5.1gm Ag over drilled intervals of 24.9m and 12.51gm Ag over drilled widths of 37.2m associated with intervals of molybdenum mineralization. Scattered narrow intervals of vein hosted copper, lead, zinc and silver mineralization were intersected with results reporting up to 134.6gm Ag, 1.465% Cu, 0.712% Pb and 2.17% Zn over a drilled width of 0.9m. Mineralization is associated with quartz veining hosted in altered Hornfelsed Volcanic, Granodiorite, Alaskite and Quartz Feldspar Granite Intrusive.

The Company is very encouraged by these results highlighting the potential of this newly discovered zone of Molybdenum mineralization located along the northern contact of the Quartz Feldspar Granite Intrusive which remains open to extension both along strike and to depth. Additional drilling is warranted to fully evaluate the potential of this exciting new zone.

The Lone Pine Property currently has a calculated measured and indicated resource at a 0.04% Mo cutoff of 110,340,000 tonnes grading 0.083% Mo containing 201,733,000 in-situ pounds of molybdenum (Please refer to News Release dated January 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 hydro power transmission line and transformer sub-station; and
  • is located only 15 kilometers from the CN rail line in Houston, BC.

Samples from BD-10-58 to BD-10-66 were analyzed by Acme Analytical Laboratories in Vancouver utilizing the Group 1E methodology. Analytical procedures consist of a 31 element ICP analysis followed by assay for any molybdenum ICP analyses greater than 4000 ppm.

Bard is earning a 100% interest in the Property under the terms of an option agreement (see News Release dated September 15, 2006). The Lone Pine exploration work is being conducted under the supervision of Qualified Person Rick Kemp, P.Geo.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

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This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

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