VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2009) - Bard Ventures Ltd. (TSX VENTURE:CBS) ("Bard" or the "Company") is pleased to provide this update of activities and an outline of planned exploration in 2009 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 delineation of this resource and the related geological and technical information has provided an impressive model that is now being used by the Company's technical staff to direct future exploration. Bard has recently completed, based on the model of the Alaskite Zone, a complete review and analysis of the 3D inversion induced polarization and magnetic geophysical surveys and the geological mapping and prospecting based on the model that is now available for the Alaskite Zone. This interpretation has identified new target areas within the Property that show the potential for the discovery of an entirely new zone of mineralization similar to the Alaskite Zone that, in certain cases, may be at or near surface.
Exploration in 2009 will initially focus on geological mapping, prospecting and additional detailed geophysical surveys that will evaluate these new target areas to define specific targets for diamond drilling. The goal of the 2009 exploration program will be to discover new areas of mineralization and to focus on targets that indicate the potential for the discovery of 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.
The 2009 program has been designed giving due consideration to the current economic conditions and commodity prices. It will serve to continue to enhance and increase the potential of the Lone Pine Property and to build upon the success that the Company has had in the recent past.
Lone Pine measured, indicated and inferred mineral resource summary:
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MEASURED INDICATED
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Tonnes Tonnes
greater greater
than or than or
equal to in-situ equal to in-situ
Cut-off % Cutoff lbs Mo Cutoff lbs Mo
Mo (000's) Mo% (000's) (000's) Mo% (000's)
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0.02 43,767 0.078 75,262 107,769 0.066 156,809
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0.03 40,450 0.082 73,125 99,967 0.069 152,069
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0.04 33,356 0.092 67,654 (i) 76,984 0.079 134,079 (i)
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0.05 26,676 0.104 61,163 58,193 0.090 115,464
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0.06 22,486 0.113 56,018 43,968 0.102 98,871
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0.07 19,625 0.120 51,919 35,077 0.111 85,839
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0.08 17,699 0.125 48,775 29,884 0.117 77,084
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0.09 15,853 0.130 45,435 25,703 0.123 69,698
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0.10 13,922 0.135 41,435 21,053 0.129 59,875
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MEASURED+INDICATED INFERRED
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Tonnes Tonnes
greater greater
than or than or
equal to in-situ equal to in-situ
Cut-off % Cutoff lbs Mo Cutoff lbs Mo
Mo (000's) Mo% (000's) (000's) Mo% (000's)
----------------------------------------- --------------------------
0.02 151,536 0.069 232,071 27,827 0.084 51,532
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0.03 140,417 0.073 225,193 27,555 0.085 51,636
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0.04 110,340 0.083 201,733 (i) 25,840 0.088 50,131 (i)
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0.05 84,869 0.094 176,628 22,839 0.094 47,331
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0.06 66,454 0.106 154,890 18,295 0.104 41,947
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0.07 54,702 0.114 137,758 15,238 0.111 37,290
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0.08 47,583 0.120 125,858 13,092 0.117 33,769
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0.09 41,556 0.126 115,132 11,800 0.121 31,477
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0.10 34,975 0.131 101,310 10,186 0.125 28,070
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- Note: Rows marked with (i) indicates Base Case Scenario.
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, President |
