Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

April 01, 2010 07:00 ET

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

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2010) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to announce significant drill hole assay results from a new area of molybdenum mineralization intersected during the current 2010 drill program on the Company's Lone Pine Molybdenum Property located 15 kilometers north-northwest of Houston, BC in the Omineca Mining Division.

The current ongoing drill program, which began in February 2010, is designed to evaluate molybdenum soil geochemical and IP geophysical anomalies bordering on a Quartz Feldspar Granite and onAlaskite intrusive. Significant drill hole assay results have been received from drill hole BD-10-61 located along the northern contact of the Quartz Feldspar Granite Intrusive in a new area of molybdenum mineralization located approximately 500m to the northeast of the known Alaskite Zone Resource described below. Drill hole BD-10-61 drilled due north to a final depth of 431.9m at -45 degrees, intersected several intervals of significant molybdenum mineralization averaging 0.04% Mo over drilled widths up to 58.1m with higher grade intersections averaging 0.07% Mo over drilled widths of 12.6m. Scattered intervals of elevated and anomalous copper, lead, zinc and silver mineralization is associated with zones of molybdenum enrichment with results up to 0.71% copper, 1.0% lead, 3.35% zinc and 451gmt silver over 0.7m drill width. Mineralization is associated with quartz veining and quartz stockwork hosted in altered Hornfelsed Volcanics, Alaskite and Granodiorite intrusive.

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

Table 1 Significant Drill Results
Drill From To Interval Mo Ag Cu Pb Zn
Hole (m) (m) (m) (%) (gm) (%) (%) (%)
BD-10-61 81.1 83.3 2.2 0.05        
  123.0 130.1 7.1 0.03        
  133.6 178.4 44.8 0.04        
incl 137.0 140.0 3.0 0.05        
incl 147.8 148.7 0.9 0.1        
and 153.9 172.0 18.1 0.06        
incl 153.9 157.1 3.2 0.1        
incl 165.2 170.0 4.8 0.1        
  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 0.23 451.0 0.7 1.0 3.35
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        

Additional results have been received from drill holes BD-10-58 and BD-10-59 located 530m and 380m to the east of BD-10-61. These drill holes are collared within the Quartz Feldspar Granite intrusive and angled at -45 degrees to the north to evaluate anomalous molybdenum soil geochemical and IP geophysical results straddling the north contact of the granitic intrusive and surrounding hornfelsed volcanics. Elevated and anomalous molybdenum results were intersected in both holes within Quartz Feldspar Granite and Hornfelsed Volcanics as highlighted in Table 2 below.

Table 2 Significant Drill Hole Results
Drill From To Interval Mo
Hole (m) (m) (m) (%)
BD-10-58 27.0 38.8 11.8 0.06
incl 27.0 27.7 0.7 0.19
and 38.4 38.8 0.4 0.74
         
BD-10-59 63.0 72.9 9.9 0.02
  86.5 101.0 14.5 0.02
incl 98.6 99.0 0.4 0.13
  160.4 165.2 4.8 0.02
incl 162.6 163.1 0.5 0.09
  171.1 174.3 3.2 0.02
  184.1 191.2 7.1 0.02

The Company is very encouraged by these initial results which highlight the potential of this newly discovered area of molybdenum mineralization intersected in BD-10-61 located along the northern contact of the Quartz Feldspar Granite intrusive. Geophysical IP survey data suggests the overburden covered northern contact of this granitic intrusive stock may extend a further 500m to the northwest of BD-10-61 to 2007 drill hole BD-07-03. This isolated vertical drill hole is located north of the projected granitic contact and midway between the Alaskite Zone resource to the south and the Quartz Breccia Zone to the north. Drill hole BD-07-03 intersected several intervals of molybdenum mineralization hosted by altered Hornfelsed Volcanics and Granodiorite including 110m averaging 0.03% Mo from 40.0 to 150.0m. Deeper mineralized intervals were also intersected including 14.42m averaging 0.14% Mo (305.58-320.0m), 6.0m averaging 0.13% Mo (372.0-378.0m) and 12.4m averaging 0.04% Mo (412.0-424.0m).

The Company plans to continue with this exciting exploration program to add value to the existing mineral resource.

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- 61 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.

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