Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

September 29, 2009 07:00 ET

Bard Ventures Ltd.: First Phase of 2009 Exploration Results Provide New Drill Targets Lone Pine Molybdenum Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2009) - Bard Ventures Ltd. (TSX VENTURE:CBS) ("Bard" or the "Company") is pleased to provide this update on the 2009 exploration results on the Lone Pine Molybdenum Property (the "Property"). The Property is located approximately 15 kilometers north-northwest of Houston, BC, and is situated in the Omineca Mining Division. The initial 2009 phase of compilation of all historic exploration work, geological mapping, soil and rock sampling has been completed and after interpretation of these results the Company has decided to initiate a diamond drill program of up to 10,000 meters.

The 2009 mapping identified the location of the favorable geological units including new areas of Alaskite and granites hosting visible molybdenum mineralization. The Alaskite Zone is aptly named for the white, fine to medium grained quartz feldspar porphyry intrusive that was recognized and mapped in outcrop. The Alaskite intrusive is the main focus of the Lone Pine Property and in drilling it has been interpreted as being the most favorable lithology for molybdenum mineralization and is the host to the existing resource. All of the historical showings were re-located in the field comprising old pits and trenches where molybdenum mineralization had been located. Several samples were collected from these sites where visible molybdenum was found in scattered float samples which appear close to source comprising coarse grained granite.

The soil sampling program was successful in extending and better defining areas of anomalous molybdenum soil geochemical anomalies identified through historical surveys. Earlier this year a test soil sample survey was completed over the known molybdenum resource area of the Alaskite Zone with the highest soil value of 69.4ppm Mo. A total of 480 soil samples were collected at 25m intervals over the newly established grid. The soil samples over the new grid area have values of up to 139.8ppm Mo, in the vicinity of Alaskite float samples with visible moybdenite. Anomalous molybdenum soil results exhibits an arcuate shaped anomaly overlying the contact zone of the coarse grained granite and extending outward to the honfelsed volcanics. All of the known showings located during the current mapping program are located within the zone of anomalous Mo in soils.

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 Jim Miller-Tait, P.Geo., a Director of Bard. Samples were analyzed by Acme Analytical Laboratories in Vancouver utilizing the Group 1DX methodology. Analytical procedures consist of an acid digestion ICP-MS analysis.

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