Bard Ventures Ltd.

Bard Ventures Ltd.

June 26, 2008 07:00 ET

Bard Ventures Ltd.: Lone Pine Molybdenum Property, Drilling Commenced-2008 Phase II, NI 43-101 Compliant Resource Estimate in Progress

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2008) - Bard Ventures Ltd. ("Bard" or the "Company") (TSX VENTURE:CBS) is pleased to provide an update of the Phase II 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.

Alaskite Zone Assay Results

Drill Hole Depth From To Interval
No. (m) (m) (m) (m) Mo% MoS2%
BD-08-25 798.82 67.92 798.82 730.90 0.10 0.17
including 447 577.10 130.1 0.20 0.33
BD-08-28 843.34 59.00 789.00 730.00 0.10 0.17
including 297.00 335.00 38.00 0.15 0.25
including 377.00 549.00 172.00 0.15 0.25
BD-08-29 803.71 229.00 749.00 520.00 0.11 0.18
including 367.00 643.00 276.00 0.15 0.25
including 485.00 537.00 52.00 0.20 0.33
BD-08-30 551.46 129.00 189.10 60.10 0.05 0.08
and 237.00 349.00 112.00 0.05 0.08
BD-08-31 961.60 499.00 669.00 170.00 0.05 0.08
BD-08-32 812.86 323.00 727.00 404.00 0.08 0.13
including 390.93 428.60 37.67 0.11 0.18
and 447.00 621.00 174.00 0.11 0.18

Lone Pine Property Drilling Highlights

View Property Map:

After a short spring break-up in early June 2008, Bard has once again commenced drilling on its Lone Pine Property with focus on preparation of a NI 43-101 resource estimate.

During the spring break-up period, continued interpretation of the Alaskite Zone was undertaken. Mapping of the Lone Pine Property Alaskite Zone is ongoing with an updated geological interpretation expected in early July. Subsurface interpretation of the alaskite intrusive and the surrounding andesites within the Alaskite Zone have indicated the potential for mineralized alaskite intrusive to extend farther along the existing northwest-southeast strike as well as deeper, southwest, across the gas pipeline.

Drilling has commenced across the gas pipeline, southwest of BD-08-25 to better delineate the southwest alaskite intrusive contact to depth by following up the favourable results of drill holes BD-08-25, BD-08-28, and BD-08-29. Drilling another fence of drill holes along strike, 50m northeast, of BD-08-25 to BD-08-32 has also commenced.

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 Alaskite Zone drill holes are illustrated in the above table.

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

Alaskite Zone Drilling Highlights

View Alaskite Zone Drill Section:

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. This known outcropping of alaskite is approximately 30-75m in width with a NW-SE strike of greater than 150m.

In 1978 the discovery hole for the Alaskite Zone was drilled and named 78-1. It is this drill hole that was 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 favorable 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-08-29 continue following the northwest mineralized corridor that has become Bard's main focus. Drill fences along strike are now in progress to assist in the preparation of Bard's pending NI 43-101 resource estimates.

The Alaskite intrusive is the main focus of the Lone Pine Property drilling and has been interpreted as being the favourable lithology for molybdenum mineralization. The intrusive body, as interpreted to date from geological sections, has an apparent steep, southwest dip (70 to 80 degrees) with a northwest-southeast attitude. Hanging wall to this alaskite intrusive is a weakly mineralized hornfelsed andesite; footwall to this alaskite intrusive is a moderately to strongly mineralized hornfelsed andesite overlaying a coarse grained quartz feldspar porphyry (QFP) rich in zoned plagioclase phenocrysts.

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., a Director of Bard.

Samples from BD-08-25 to BD-08-32 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.

On behalf of:

Bard Ventures Ltd.

Eugene Beukman, President

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 for further information.

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Contact Information

  • Bard Ventures Ltd.
    Eugene Beukman
    (604) 687-2038
    (604) 687-3141 (FAX)