Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

July 03, 2008 07:00 ET

Bard Ventures Ltd.: Lone Pine Molybdenum Property 2008 Quartz Breccia Zone Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2008) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to provide an update of the 2008 exploration activities on its 3,155 hectare Lone Pine Molybdenum Property (the "Property") situated in the Omineca Mining Division approximately 15 km north-northwest of Houston, BC.

This release summarizes the results of the drilling in the Quartz Breccia Zone, which is located 1,200m north of the Alaskite Zone whose drill results were reported in earlier releases.

Drilling Highlights:

- 240m of 0.06% Mo in BDQ-08-01 including 42m of 0.10% Mo.

- 8m grading 2.02g/t Au in BDQ-08-02 and 22m of 0.09% Mo.

- 2m grading 5.40g/t Au in BDQ-08-03 and 32m of 0.10% Mo.

- 2m grading 5.70g/t Au in BDQ-08-04.

Quartz Breccia Zone drill assay results:



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Total
Drillhole No. Depth (m) From(m) To(m) Interval (m) Mo% MoS2% Au g/T
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BDQ-08-01 425.78 185 425 240 0.06 0.10
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incl 309 351 42 0.10 0.17
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BDQ-08-02 531.57 257 385 128 0.04 0.07
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incl 257 279 22 0.09 0.15
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incl 201 209 8 2.02
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BDQ-08-03 481.58 295 419 124 0.06 0.10
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incl 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-08-04 551.27 455 495 40 0.04 0.07
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incl 377 379 2 5.70
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Overview of Lone Pine Property Drill Holes

Drilling began on Bard's Lone Pine Project in the Quartz Breccia Zone in March 2008 with the BDQ-08 series of drillholes.

The 2008 Quartz Breccia Zone drillholes are currently following up the molybdenum mineralization in the area of hole BD-07-02 by targeting the boundaries of the anomalous magnetic lows along strike between the Quartz Breccia Zone and the Granby zone. The Total Field Magnetic image illustrates the potential for a 400 meter wide and 1200 meter long mineralized corridor between the two zones.

Drillhole Summaries

BDQ-08-01 was drilled on the BD-07-06 set-up with a 330 azimuth and -55 dip. The drillhole was designed to target the molybdenum mineralization encountered in drillhole BD-07-02 and to determine extent and direction, if any, to this favourable mineralization. The drillhole collared into andesite, then stayed in a brecciated rhyolitic tuff through to 91.38m before remaining in andesite through to the end of the hole at 425.78m. Molybdenum mineralization in this hole was encountered mostly in the andesitic rocks.

BDQ-08-02 was a vertical drillhole designed to target the magnetic low anomaly west of the BD-07-02, BD-07-06 and BDQ-08-01. The "magnetic low" was in an area of "magnetic highs", existed along strike with an apparent NE/SW lineament that extends through to the Granby zone and historically sits in an area of known trenching that encountered mineralized Quartz Breccia rocks. BDQ-08-02 collared into diorites and andesites through to 69m approximately, then intersected quartz breccia through to 223m and ended in andesite at 531 meters. Molybdenum mineralization in this hole was encountered mostly in the andesitic rocks.

BDQ-08-03 was a vertical drillhole designed to target the magnetic low anomaly 50 meters west of BDQ-08-02. Drillhole BDQ-08-03 collared into quartz breccia rocks (angular fragments of volcanics supported in a strong quartz carbonate matrix) through to 286m approximately before staying in andesite to 471m and ending in mafic dyking at 481.58m. Molybdenum mineralization in this drillhole was mostly encountered within the andesitic rocks.

BDQ-08-04 was a vertical drillhole targeted approximately 50 meters south of drillhole BDQ-08-03, designed to drill the southern boundary of the magnetic low. BDQ-08-04 collared into andesite to 173m, and then quartz breccia rocks to 481m then andesite to 506m before ending in dyking at 551.27m. Molybdenum mineralization encountered in drillhole BDQ-08-04 was along the lower contact of the quartz breccia rocks and the underlain andesitic rocks.

BDQ-08-05 was a vertical drillhole targeting the southern boundary of the magnetic low anomaly 50 meters south of drillhole BDQ-08-02. BDQ-08-05 was the last drillhole designed for the Quartz Breccia Zone in early 2008 and was designed to complete a small fence of drilling that was to cover the quartz breccia zone magnetic low anomaly interpreted in the 2007 geophysical survey. BDQ-08-05 collared into andesite through to 113 meters, and then stayed in quartz breccia rocks through to 344 meters before ending at 486.46 meters in andesitic rocks. No significant molybdenum mineralization was recorded.

Overview of Quartz Breccia Zone

The Quartz Breccia Zone, like its southern counterpart, the Alaskite Zone, is appropriately named for the Quartz Breccia (angular fragments of volcanics and quartz carbonate flooding) encountered in trenching in the early 1960's. In 1978, DDH 78-2 was drilled and returned favorable molybdenum mineralization.

In 2007, Bard continued its exploration drilling by twinning this 1978 drillhole (BD-07-02) and confirming the existence of favourable molybdenum mineralization. The Total Field Magnetics completed over the property in 2007 best illustrates the potential for a large body of molybdenum mineralization in the lineament that is illustrated running NE - SW, coincidentally the same strike of the existing regional structures, the existing streams and the same strike between the Quartz Breccia Zone and the Granby Zone. It is along this lineament and within the anomalous magnetic lows that hole BD-07-02 and the majority of the historical trenching is located.

The 2008 series of drillholes in the Quartz Breccia Zone have illustrated the need for further exploration and additional drilling. The geology of the area exhibits an apparent south to southwest dip and northeast / southwest strike with quartz breccia rocks (angular fragments of volcanics supported in a strong quartz carbonate matrix) overlaying andesitic rocks that are inundated with mafic dyking. The andesitic rocks are a dark green, fine grained, homogenous volcanic with moderate to locally strong stockwork quartz veining. Molybdenum mineralization favours these andesitic rocks with molybdenum observed within the matrix of the quartz breccia rocks. The quartz breccia rocks are a dark grey coloured, angular mass of volcanics supported by quartz carbonate matrix hosting, sometimes abundant, chalcopyrite, fluorite, azurite, malachite, tetrahedrite, pyrrhotite, pyrite, marcasite and sphalerite. Gold mineralization appears to favor this stratigraphic horizon, as all elevated gold numbers exist solely within the strongly brecciated, quartz carbonate matrix and veining of this quartz breccia zone. It is the presence of these base metal associated minerals, gold and molybdenum that continues to illustrate great potential in this Quartz Breccia Zone.

Exploration Goals

Bard is exploring for porphyry type molybdenum mineralization in Cretaceous-aged Bulkley intrusive rocks (Alaskite) and adjacent hornfelsed sedimentary (Argillite) and volcanic rocks (Andesite) of the Telkwa Formation.

This exploration program follows Bard's 2008-16 hole-Phase I diamond drilling program, which confirmed the presence of widespread molybdenum mineralization on the Property, in particular the Alaskite Zone and the Quartz Breccia Zone. Significant intercepts from the 2008 Quartz Breccia Zone drill holes are illustrated in the above table.

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.

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., and a Director of Bard.

Samples from BDQ-08-01 to BDQ-08-05 were analyzed at Eco Tech Laboratories in Kamloops, British Columbia. Analytical procedures consist of a 28 element ICP analysis; package BICP-11, followed by assay for any molybdenum ICP analyses greater than 500 ppm. Analytical procedures for gold consisted of an initial fire assay with an AA finish, followed by assay for any Au fire assay greater than 1000 ppb.

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.

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Contact Information

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