| | January 22, 2009
Bard Releases NI 43-101 Resource Estimate on Lone Pine Property
Bard Ventures Ltd. ("Bard" or the "Company") commissioned the preparation of the first National Instrument 43-101 compliant resource estimate on the Alaskite Zone molybdenum mineralization from the Company's Lone Pine Molybdenum Property, located in the Omineca Mining division approximately 15 kilometres north-northwest of Houston, BC. The report, dated January 12, 2009, entitled "Resource Estimate Lone Pine Molybdenum Project -- Omineca Mining Division, British Columbia", was prepared by Ronald G. Simpson, P.Geo. of GeoSim Services Inc., a "qualified person" for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
Lone Pine measured, indicated and inferred mineral resource summary:
MEASURED |
|
INDICATED |
Cut-off %
Mo |
Tonnes ≥
Cutoff
(000's) |
Mo% |
in-situ lbs
Mo
(000's) |
Tonnes ≥
Cutoff
(000's) |
Mo% |
in-situ lbs Mo
(000's) |
0.02 |
43,767 |
0.078 |
75,262 |
107,769 |
0.066 |
156,809 |
0.03 |
40,450 |
0.082 |
73,125 |
99,967 |
0.069 |
152,069 |
0.04 |
33,356 |
0.092 |
67,654 |
76,984 |
0.079 |
134,079 |
0.05 |
26,676 |
0.104 |
61,163 |
58,193 |
0.090 |
115,464 |
0.06 |
22,486 |
0.113 |
56,018 |
43,968 |
0.102 |
98,871 |
0.07 |
19,625 |
0.120 |
51,919 |
35,077 |
0.111 |
85,839 |
0.08 |
17,699 |
0.125 |
48,775 |
29,884 |
0.117 |
77,084 |
0.09 |
15,853 |
0.130 |
45,435 |
25,703 |
0.123 |
69,698 |
0.10 |
13,922 |
0.135 |
41,435 |
21,053 |
0.129 |
59,875 |
|
MEASURED+INDICATED |
|
INFERRED |
Cut-off %
Mo |
Tonnes ≥
Cutoff
(000's) |
Mo% |
in-situ lbs
Mo
(000's) |
Tonnes ≥
Cutoff
(000's) |
Mo% |
in-situ lbs Mo
(000's) |
0.02 |
151,536 |
0.069 |
232,071 |
27,827 |
0.084 |
51,532 |
0.03 |
140,417 |
0.073 |
225,193 |
27,555 |
0.085 |
51,636 |
0.04 |
110,340 |
0.083 |
201,733 |
25,840 |
0.088 |
50,131 |
0.05 |
84,869 |
0.094 |
176,628 |
22,839 |
0.094 |
47,331 |
0.06 |
66,454 |
0.106 |
154,890 |
18,295 |
0.104 |
41,947 |
0.07 |
54,702 |
0.114 |
137,758 |
15,238 |
0.111 |
37,290 |
0.08 |
47,583 |
0.120 |
125,858 |
13,092 |
0.117 |
33,769 |
0.09 |
41,556 |
0.126 |
115,132 |
11,800 |
0.121 |
31,477 |
0.10 |
34,975 |
0.131 |
101,310 |
10,186 |
0.125 |
28,070 |
A full text version of the Lone Pine Property resource estimate is being filed on SEDAR today and will be available at www.sedar.com under the Company's profile and can also be found by visiting the Company's website at www.bardventures.com.
Summary of significant work completed to date since optioning the Lone Pine Property in 2006:
- Completed historic database compilation and review.
- Line-cutting, Geological Mapping and Prospecting including rock sampling.
- Completed 3-D Inversion Induced Polarization and Magnetic Geophysical Surveying.
- A total of 27,012 m of diamond drilling in 55 holes completed on the Property.
- The majority of the drilling has focused on the Alaskite Zone which has been expanded in size from a small
outcrop area to a plan view size of 550 m x 310 m and a depth of 800 m and still "open".
- A total of 21,557.36 m of diamond drilling in 41 holes into the Alaskite Zone.
- Completed detailed airborne surveying and photography for resource modeling and survey control.
- Completed initial metallurgical testing with positive results of greater than 90% recovery to a concentrate
grade of 43% Mo.
The Property has an ideal location for operations with established 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.
On behalf of:
Bard Ventures Ltd.
"Eugene Beukman"
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. |
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