Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

January 14, 2010 07:00 ET

Bard Ventures Ltd.: Drilling Update-Lone Pine Molybdenum Project, First Assay Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Jan. 14, 2010) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce it has completed 9 NQ drill holes from 4 drill sites totaling 2,495.04m during its initial 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.

Results have been received from the first 6 drill holes (BD-09-49 to BD-09-54) which were designed to test the eastern portion of anomalous molybdenum soil geochemistry covering the eastern portion of the quartz feldspar granite intrusive, its contact Alaskite phase and surrounding hornfelsed volcanics. This area is approximately 1,000m east of the known Alaskite resource described below. Assay results confirm both disseminated and vein hosted molybdenum mineralization is best developed within the coarse grained quartz feldspar intrusive granite with results reporting up to 8.2m of 0.030% Mo or 0.051% MoS2 (305.3ppm Mo) in BD-09-54 and 0.022% Mo or 0.036% MoS2 (216.9ppm Mo) over 9.6m in BD-09-53. Higher grade molybdenum mineralization was also intersected over intervals within the granite intrusive 0.10% Mo or 0.165% MoS2 (up to 989ppm Mo) over 0.4m. Vein hosted molybdenum mineralization within the bounding hornfelsed volcanics has to date returned high grade intervals of 0.13% Mo or 0.22% MoS2 (up to 1325ppm Mo) over 0.7m and 0.079% Mo or 0.13% MoS2 (786.6ppm Mo) over 2.3m. Over limit assay results for copper, lead, zinc and silver from scattered quartz vein intervals are pending.

The initial results from this first phase of drilling are considered very encouraging as it demonstrates the potential for locating both stockwork vein type and disseminated molybdenum mineralization within the quartz feldspar granite intrusive, and vein hosted mineralization within the surrounding hornfelsed volcanics which to date has not been considered as an exploration target receiving very limited historical exploration activity. 

The results from the remaining 3 holes of the 9 hole drill program are pending and will be released once received and interpreted.

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-09-49 to BD-09-54 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"

Eugene Beukman, President

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For further information please visit our website at www.bardventures.com.

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