Bolero Resources Corp.

Bolero Resources Corp.

October 04, 2010 03:01 ET

Bolero Resources Corp.: New Assay Results Substantially Increase Rare Earth Element Values

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU)(FRANKFURT:U7N1) announces it has received additional assay results of soil samples taken from the "Carbonatite Syndicate" Rare Earth Element prospect in northern BC, that substantially increase previously reported Rare Earth Element "REE" values. New assays from recent soil grids have increased maximum concentrations of Cerium (Ce) and Lanthanum (La) to as high as 1205 ppm and 663 ppm respectively, far exceeding previous numbers of up to 631 ppm and 377 ppm respectively. Thirty of 228 soil samples returned total "REE+Y" contents above 1000 ppm and show elevated levels of "pathfinder elements" such as Niobium (Nb) and Barium (Ba).

Map Link:

Bolero will be commencing a drill program on the property, following the interpretation of preliminary data, from the recently completed AeroTEM III and Radiometric surveys. Preliminary airborne data will be correlated with positive soil samples and existing field radiometric anomalies to establish priority Rare Earth Element drill targets on the property. With drill permits now in place, Bolero anticipates a multi hole drill program on up to 3 separate drill sites to commence shortly.

Bolero Resources' President and CEO, R. Bruce Duncan, stated "We are encouraged by the substantial increase in Rare Earth values from the recent soil assays and look forward to the drill program commencing shortly. In other projects, we recently identified significant coincident IP and Geochem anomalies on our "Red Chris South" prospect, contiguous to Imperial Metals Corporation Red Chris copper-gold property; and have now commenced work on our "White Gold" prospect in the White Gold District/Stewart River region of the Yukon."

About the Carbonatite Syndicate

The "Carbonatite Syndicate" Rare Earth prospect consists of 57 claims covering approximately 56,000 acres and is accessible by all weather gravel roads. It is approximately 80km north east of Prince George, BC, along the trace of the Rocky Mountain Trench, a major continental geologic feature which is now recognized for the numerous proximal rare earth element mineral showings. The property is contiguous to and surrounding, Spectrum Mining's "Wicheeda" Rare Earth Element discovery, that recently returned significant grades including a 48.64 metre interval which averaged 3.55% rare earth elements, a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes. (2008 Aris Report) (

Mr. David Turner, M.Sc., P.Geo., an independent Qualified Person (as such term is defined by NI 43-101) is responsible for the preparation of the technical information in this release.

About Bolero Resources Corp.

Bolero Resources Corp. is a Canadian Gold and Rare Earth exploration and development company. Our primary assets include: 100% interest in the Red Chris South prospect, covering over 13,000 acres in north-western BC, contiguous to Imperial Metals Corp; 100% interest in 57 mineral claims prospective for Rare Earth's covering approximately 56,000 acres, contiguous to Spectrum Mining Corporation in Northern BC; 11 mining claims of which approximately 2,653 hectares are directly tied on to the northwest, and 1,930 hectares are tied directly east of Barkerville Gold Mines in Barkerville, BC, and 2 separate quartz claim blocks covering over 6,500 acres, in the "White Gold District" of the Yukon. The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the Frankfurt Exchange under U7N1. For more information, please visit or contact Investor Relations Toll Free.

On behalf of the Board of Directors

R. Bruce Duncan, President & CEO

"Neither 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