| | June 22, 2009
Exploration Program to Focus on Resource Expansion and Evaluation of New Target Areas, Lone Pine Property, British Columbia
Bard Ventures Ltd. ("Bard" or the "Company") is pleased to announce that field crews have been mobilized to the field to commence its exploration program on the Lone Pine Property, British Columbia. In 2008, an extensive diamond drilling program consisting of 41 holes for a total of 21,557 meters resulted in delineation of a 43-101 compliant resource within the Alaskite Zone (tabulated below). At a 0.04% Mo cut-off there is a measured and indicated resource of 110,340,000 tonnes grading 0.083% Mo containing approximately 200 million pounds of molybdenum.
The 2009 exploration program will initially focus on geological mapping, soil geochemical survey, prospecting and additional detailed geophysical surveys that will evaluate the new target areas to define specific targets for diamond drilling. The main focus will be in the area proximal to the delineated resource which is located on the west side of a non-mineralized Quartz Feldspar Porphyry. The initial program will focus on the south, east, and north sides of this porphyry where the geological environment is favorable for additional molybdenum mineralization at or near surface. If successful, this will result in an expansion of the current resource and the delineation of near surface mineralization that could serve as the source of initial development within the Lone Pine Property.
Lone Pine measured, indicated and inferred mineral resource summary:
| |
MEASURED |
| Cut-off % Mo |
Tonnes
? Cutoff (000's) |
Mo% |
in-situ
lbs Mo (000's) |
| 0.02 |
43,767 |
0.078 |
75,262 |
| 0.03 |
40,450 |
0.082 |
73,125 |
| 0.04 |
33,356 |
0.092 |
67,654 |
| 0.05 |
26,676 |
0.104 |
61,163 |
| 0.06 |
22,486 |
0.113 |
56,018 |
| 0.07 |
19,625 |
0.12 |
51,919 |
| 0.08 |
17,699 |
0.125 |
48,775 |
| 0.09 |
15,853 |
0.13 |
45,435 |
| 0.1 |
13,922 |
0.135 |
41,435 |
| |
MEASURED+INDICATED |
| Cut-off
% Mo |
Tonnes
? Cutoff (000's) |
Mo% |
in-situ
lbs Mo (000's) |
| 0.02 |
151,536 |
0.069 |
232,071 |
| 0.03 |
140,417 |
0.073 |
225,193 |
| 0.04 |
110,340 |
0.083 |
201,733 |
| 0.05 |
84,869 |
0.094 |
176,628 |
| 0.06 |
66,454 |
0.106 |
154,890 |
| 0.07 |
54,702 |
0.114 |
137,758 |
| 0.08 |
47,583 |
0.12 |
125,858 |
| 0.09 |
41,556 |
0.126 |
115,132 |
| 0.1 |
34,975 |
0.131 |
101,310 |
| INDICATED |
| >Tonnes ≥ Cutoff (000's) | Mo% |
in-situ lbs Mo (000's) |
| 107,769 |
0.066 |
156,809 |
| 99,967 |
0.069 |
152,069 |
| 76,984 |
0.079 |
134,079 |
| 58,193 |
0.09 |
115,464 |
| 43,968 |
0.102 |
98,871 |
| 35,077 |
0.111 |
85,839 |
| 29,884 |
0.117 |
77,084 |
| 25,703 |
0.123 |
69,698 |
| 21,053 |
0.129 |
59,875 |
| INFERRED |
| Tonnes ? Cutoff (000's) |
Mo% |
in-situ lbs Mo (000's) |
| 27,827 |
0.084 |
51,532 |
| 27,555 |
0.085 |
51,636 |
| 25,840 |
0.088 |
50,131 |
| 22,839 |
0.094 |
47,331 |
| 18,295 |
0.104 |
41,947 |
| 15,238 |
0.111 |
37,290 |
| 13,092 |
0.117 |
33,769 |
| 11,800 |
0.121 |
31,477 |
| 10,186 |
0.125 |
28,070 |
A full text version of the Lone Pine Property resource estimate was filed on SEDAR and is 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. 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.
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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