Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

December 11, 2009 07:00 ET

Bard Ventures Ltd.: Drilling Update-Lone Pine Molybdenum Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2009) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce it has completed 7 drill holes in this current and ongoing phase of drilling on its Lone Pine Property. The Property is located approximately 15 kilometers north-northwest of Houston, BC, and is situated in the Omineca Mining Division.

The 2009 Lone Pine drill program began in early November and to date 7 NQ drill holes have been completed evaluating the eastern area of anomalous molybdenum soil geochemistry. The initial phase of the current drill program is designed to test the eastern most portion of the quartz feldspar granitic intrusive, its contact Alaskite phase and extending into the surrounding hornfelsed volcanics. Quartz vein hosted and visual disseminated molybdenum mineralization has been encountered within the quartz feldspar granitic intrusive with quartz vein hosted molybdenum mineralization extending to the hornfelsed volcanics. The Alaskite encountered in the current drill program represents a fine grained gradational border phase to the coarser grained granitic intrusive. Assay results remain pending and will be released once received and interpreted.

The drill program has been based on the results of the 2009 compilation program evaluating historical exploration results covering the Mineral Hill area, a soil geochemical survey, geological mapping and rock sampling program that was completed. Results of the soil geochemical survey outlined an area of elevated and anomalous molybdenum in soils covering the eastern half of the quartz feldspar granitic intrusive extending outward to the surrounding hornfelsed volcanics. All of the known historical showings were located within this zone of anomalous molybdenum soil geochemical results. Following an interpretation of these results, the Company decided to commence upon a diamond drill program of up to 10,000 meters.

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.

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.

For all Bard Ventures Ltd. investor relations needs investors are asked to visit the Bard Ventures Ltd IR Hub at http://www.agoracom.com/IR/bardventures where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to cbs@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bard Ventures Ltd.
    Eugene Beukman
    President
    (604) 687-2038
    (604) 687-3141 (FAX)
    www.bardventures.com