Bard Ventures Ltd.
TSX VENTURE : CBS

Bard Ventures Ltd.

March 03, 2008 11:31 ET

Bard Ventures Ltd.: Lone Pine Molybdenum Property 2008 Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 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.

Significant assay results from the Alaskite Zone are tabulated below:



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Drillhole Total From To Interval Mo% MoS2%
No. Depth (m) (m) (m) (m)
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BD-07-15 360 3 360 357 0.05 0.08
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including 103 179 76 0.07 0.12
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BD-07-16 499 3 499 496 0.05 0.08
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including 209 299 90 0.09 0.14
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BD-07-21 233 41 126.45 85.45 0.06 0.10
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BD-07-23 344 191 343 152 0.05 0.08
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including 191 223 32 0.08 0.13
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BD-08-24 629 11.94 523 511.06 0.07 0.12
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including 253 523 270 0.10 0.17
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BD-08-25 798.82 67.92 798.82 730.90 0.10 0.17
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including 447 577.10 130.1 0.20 0.33
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Lone Pine Property

Bard commenced Phase 3 drilling on its Lone Pine Project, located approximately 15 km north-northwest of Houston, BC in early January 2008. Atlas Drilling Ltd. has been contracted to complete a minimum of 5,000 m of NQ2 core size drilling.

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.

Drilling began in the Alaskite Zone with the BD-08 series of drillholes. A second drill was brought onto the property and drilling has commenced in the Quartz Breccia Zone (BDQ-08 series), with drilling of the Granby Zone (BDG-08 series) to follow in early March 2008.

This exploration program follows Bard's 2007, 23-hole, 2 phase 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 2007/08 Alaskite drillholes are illustrated in the above table.

The Alaskite and Quartz Breccia Zones are located approximately 1,200 m apart in a north-south direction.

Alaskite Zone

The Alaskite Zone is aptly named for the white, fine to medium grained quartz feldspar porphyry intrusive that was recognized and mapped in outcrop in 1967 as Alaskite. In 1978 the discovery hole for the Alaskite Zone was drilled and named 78-1. It is this drillhole that Bard initially targeted in early 2007 to be twinned. Very successful results from BD-07-01 were received in March of 2007, thus confirming the existence of favourable molybdenum mineralization. BD-07-01, BD-07-16 and BD-07-15 were drilled along strike of this alaskite body in 2007 and have become the focus of continued drilling in the Alaskite Zone. The drill fences, including drill holes BD-07-21, BD-07-23, and BD-08-24 to BD-08-28 continue following the north-west mineralized corridor that has become Bard's main focus.

Quartz Breccia Zone

The Quartz Breccia Zone, like its southern counterpart, 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 favourable 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 hosting molybdenum mineralization.

The 2008 Quartz Breccia Zone drillholes are currently following up the molybdenum mineralization intersected in BD-07-02 by targeting the boundaries of the anomalous magnetic lows along strike between the Quartz Breccia Zone and the Granby Zone.

Of importance to note is the existing infrastructure on the Property, which includes Highway 16, natural gas pipeline, a major hydro power transmission line and transformer sub-station, and it 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.

A recent interview with Bard's QP, Jim Miller-Tait, can be viewed at http://agoracom.com/broadcastcenter.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

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.

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Bard Ventures Ltd. expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Bard Ventures Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future realities and actual realities may differ materially from those in forward looking statements. Factors that could cause the actual realities to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future realities and actual realities or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Bard Ventures Ltd.'s management on the date the statements are made. Unless otherwise required by applicable securities laws, Bard Ventures Ltd. expressly disclaims any intention and assumes no obligation to update or revise any forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, whether as a result of new information, future events or otherwise. Please see Bard's public filings at www.sedar.com for further information.

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