Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

December 15, 2008 07:00 ET

Bard Ventures Ltd.: Lone Pine Molybdenum Property 2008 Exploration Summary

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to provide this summary on the completed 2008 exploration activities on its 3,155 hectare Lone Pine Molybdenum Property (the "Property") situated in the Omineca Mining Division approximately 15 kilometres north-northwest of Houston, BC. The claims cover several known molybdenum showings named the Quartz Breccia, Granby, Mineral Hill Zones and the main high priority Alaskite Zone that has been the focus of the majority of the diamond drilling completed to date.

Diamond Drilling

The main exploration method, which started in January 2008, has been diamond drilling with emphasis on the Alaskite Zone and additional drilling completed in the Quartz Breccia and Granby Zones. Twenty-five drill holes totaling 15,739.6 metres were drilled in the Alaskite Zone, 2,476.7 metres were drilled in five drill holes in the Quartz Breccia Zone and 576.7 metres were drilled in two drill holes in the Granby Zone. A total of 18,793 metres were drilled in 2008 on the Lone Pine Property.

The drilling programs completed to date have provided positive results and have also confirmed molybdenum mineralization in all holes drilled over the entire Lone Pine Property. The drilling in the Alaskite Zone has confirmed a higher grade molybdenum core within a larger, approximately 550 metres by 310 metres in plan view, mineralized body that has a northwest/southeast attitude and a steep southwesterly dip. The significant assay results from the Company's drilling to date on the Lone Pine Property are tabulated below with the most significant intersections in the Alaskite Zone high-lighted in bold:



Alaskite Zone:
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Drill Hole Number From (m) To (m) Interval (m) Mo% MoS2 (%)
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BD-07-09 23.0 95.0 72.0 0.042 0.070
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211.0 247.0 36.0 0.038 0.063
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BD-07-13 39 79 40 0.056 0.094
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223 291 68 0.046 0.077
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323 335 12 0.041 0.068
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BD-07-15 3 360 357 0.045 0.075
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103 179 76 0.072 0.120
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235 360 125 0.054 0.090
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BD-07-16 3 499 496 0.045 0.075
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77 111 34 0.051 0.085
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175 459 284 0.060 0.100
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209 299 90 0.086 0.144
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309 323 14 0.110 0.184
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345 369 24 0.070 0.117
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BD-07-21 41 126.45 85.45 0.058 0.097
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BD-07-23 191 343 152 0.053 0.088
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191 223 32 0.080 0.134
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251 261 10 0.10 0.167
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301 315 14 0.079 0.132
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BD-08-24 11.94 523.0 511.06 0.07 0.12
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253.0 523.0 270.0 0.10 0.17
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367.0 447.0 80.0 0.15 0.25
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BD-08-25 67.92 798.82 730.9 0.10 0.17
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259.0 577.1 318.1 0.14 0.23
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447.0 577.1 130.1 0.20 0.33
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453.0 477.0 24.0 0.30 0.50
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611.3 739.0 127.7 0.15 0.25
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BD-08-28 59.00 789.00 730.00 0.10 0.17
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297.00 335.00 38.00 0.15 0.25
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377.00 549.00 172.00 0.15 0.25
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BD-08-29 229.00 749.00 520.00 0.11 0.18
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367.00 643.00 276.00 0.15 0.25
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485.00 537.00 52.00 0.20 0.33
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BD-08-30 129.00 189.10 60.10 0.05 0.08
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237.00 349.00 112.00 0.05 0.08
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BD-08-31 499.00 669.00 170.00 0.05 0.08
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BD-08-32 323.00 727.00 404.00 0.08 0.13
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390.93 428.60 37.67 0.11 0.18
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447.00 621.00 174.00 0.11 0.18
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BD-08-33 347.00 802.30 455.30 0.10 0.17
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473.00 495.00 22.00 0.18 0.30
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510.30 607.00 96.70 0.14 0.23
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BD-08-34 329.00 829.00 500.00 0.08 0.13
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565.81 733.34 167.53 0.12 0.20
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587.00 677.00 90.00 0.15 0.25
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BD-08-35 25.29 779.03 753.74 0.10 0.17
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193.00 779.03 586.03 0.12 0.20
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327.00 725.00 398.00 0.15 0.25
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509.00 609.00 100.00 0.20 0.33
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509.00 535.00 26.00 0.31 0.52
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BD-08-36 16.15 534.20 518.05 0.07 0.12
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205.00 507.00 302.00 0.10 0.17
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BD-08-37 160.00 251.00 91.00 0.05 0.08
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222.80 239.00 16.20 0.08 0.13
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BD-08-38 171.00 695.00 524.00 0.11 0.18
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323.00 625.00 302.00 0.12 0.20
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BD-08-39 77.00 487.00 410.00 0.07 0.12
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249.00 487.00 238.00 0.10 0.17
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305.00 409.00 104.00 0.15 0.25
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BD-08-40 127.00 457.00 330.00 0.05 0.08
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261.00 317.00 56.00 0.08 0.13
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BD-08-42 211.00 517.00 306.00 0.08 0.13
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321.00 485.00 164.00 0.11 0.18
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Quartz Breccia Zone:
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Drill Hole No. From (m) To (m) Interval (m) Mo% MoS2% Au g/T
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BDQ-08-01 185 425 240 0.06 0.10
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309 351 42 0.10 0.17
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BDQ-08-02 257 385 128 0.04 0.07
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257 279 22 0.09 0.15
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201 209 8 2.02
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BDQ-08-03 295 419 124 0.06 0.10
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327 359 32 0.10 0.17
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227 229 2 5.40
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281 283 2 5.28
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BDQ-08-04 455 495 40 0.04 0.07
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377 379 2 5.70
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The last six drill holes in the 2008 exploration drilling program were designed to test the northwestern boundary of the Alaskite Zone. All drill holes encountered molybdenum mineralization although lower grade. The best drill hole was in BD-08-43 which encountered molybdenum mineralization with the best intercept being 232 meters of 0.04% Mo between 19-251m including 0.07% Mo over 46 meters between 55-101m. Drill holes BD-08-43 to BD-08-48 were vertical drill holes that collared into andesites and then continued to depth with intercalated andesite/alaskite before being shutdown in the quartz feldspar porphyry pluton.

Mapping

Geological surface mapping

A geological mapping program was initiated on the Lone Pine Property covering the Alaskite and Quartz Breccia Zones. Success in this mapping program has allowed Bard to better understand the constraints of the known alaskite intrusive as well as better enhance the future exploration on the property with additional proposed drill targets in other outlying areas of similar geological interest.

Orthophotography

Eagle Mapping Ltd., of Port Coquitlam, B.C., was contracted to complete an aerial photograph of the Lone Pine Property claims. These digital maps and orthophotography will be utilized in the forthcoming National Instrument 43-101 ("NI 43-101") resource estimate.

Resource Estimate and National Instrument 43-101 Report

After success of the drill holes in the Alaskite Zone, Bard has contracted Ron Simpson of GeoSim Services Inc. to complete a NI 43-101 compatible resource estimate and report on the project. The NI 43-101 report, though originally slated for release in the fourth quarter, is expected to be completed in early January 2009.

Metallurgical Studies

Bard submitted representative core of the Alaskite Zone molybdenum mineralization to G&T Metallurgical Services Ltd. of Kamloops, British Columbia, for metallurgical testing. This metallurgical report will be a component of the forthcoming NI 43-101 resource estimate.

Ideal location with established infrastructure

The Property has access to an existing 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.

A plan of the drill holes in the Alaskite Zone may be viewed on the Company's website at www.bardventures.com.

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 from BD-08-43 to BD-08-48 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.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of content of this press release.

Contact Information

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