Posts Tagged Molybdenum

Bard Ventures Ltd.: Exploration Program Update; Evaluation of New Target Areas, Lone Pine Property, British Columbia

Bard Ventures Ltd. has mobilized field crews to commence its exploration program on the Lone Pine molybdenum property. The property is located in the Omineca mining division approximately 15 kilometres north-northwest of Houston, B.C.

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. An initial orientation soil sampling survey has been completed over the known molybdenum mineralization to identify the geochemical signature of the Alaskite zone. There were two soil samples collected at each site, one conventional and one mobile metal ion (MMI), to test which sampling and analytical method is optimum. 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 favourable 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.

The Lone Pine property has a calculated measured and indicated resource at a 0.04 per cent Mo cut-off of 110.34 million tonnes grading 0.083 per cent Mo containing 201,733,000 in situ pounds of molybdenum.

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 substation;
Is located only 15 kilometres from the CN rail line in Houston, B.C.

A plan of the drill holes in the Alaskite zone may be viewed on the company’s website.

Bard is earning a 100-per-cent interest in the property under the terms of an option agreement. The Lone Pine exploration work is being conducted under the supervision of qualified person Jim Miller-Tait, PGeo, a director of Bard.

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No Comments

TTM Resources Metallurgical Results and Section 10

TTM Resources Inc. has received from the British Columbia Environmental Assessment Office (BCEAO) a Section 10 order for TTM Resources Inc.’s Chu molybdenum project located 85 kilometres south of Vanderhoof, B.C., in the Omineca mining division.

The Chu molybdenum project description was submitted by the company on April 2, 2009, and received a Section 10 order from the BCEAO on May 1, 2009. The Section 10 order is recognition by the British Columbia government that the Chu molybdenum project is reviewable project under the Environmental Reviewable Projects Legislation and will require an environmental assessment certificate prior to obtaining mining permits.

The project description for the company’s Chu molybdenum project outlines TTM’s proposed open pit molybdenum mine at a production rate of 60,000 tonnes per day for annual production of 21 million tonnes over a projected 31-year mine life. At this projected mining rate the project would produce in excess of 600 million pounds of molybdenum and in excess of 450 million pounds of copper. The proposed project would also include 120 kilometres of electric power transmission lines, an electric powered mill facility consisting of crushing, grinding and conventional flotation concentration yielding a molybdenite concentrate.

The project description has now been accepted by the BC and Canadian Environmental Assessment Agencies and the newly formed Federal Major Projects Management Office. The three offices will now inform TTM which first nations, local communities, provincial and federal agencies and other affected stakeholders will form the review committee for the assessment.

“This is a very important step in our continuing efforts to develop the Chu molybdenum project into a productive, 30-year mine. We look forward to working with the review committee and particularly the town of Vanderhoof and our first nations partners, to move towards that end,” says Crichy Clarke, president and chief executive officer of TTM Resources.

Two thousand nine drill highlights

TTM Resources has also released the results of four drill holes completed on the West zone earlier this spring. Three of these holes, 2009-CHU-W024 to W026, were designed as infill holes to be used in future resource/reserve calculations with an emphasis on testing near surface, higher-grade zones. The fourth hole, 2009-CHU-W027, was drilled oblique to the strike of the deposit to test for high-grade mineralization associated with northeast trending fault zones. Hole W027 was collared 60 metres south of hole CHU-06-06, with a similar orientation.

 

         DRILL RESULTS AT WEST ZONE

Drill hole       From (m) To (m)  Width (m)    Mo%

2009-CHU-W024     124.05  200.24     76.19   0.072 
and including     133.19  172.81     39.62   0.093 
2009-CHU-W024     454.70  462.36      7.66   0.135
2009-CHU-W025      84.43  108.40     23.97   0.073 
2009-CHU-W025     171.98  200.28     28.30   0.099
2009-CHU-W026      17.37  418.00    400.63   0.042 
including         230.00  273.39     43.39   0.086 
and including     235.12  265.00     29.88   0.096
2009-CHU-W027      10.67  778.83     68.16   0.053
including          22.86   71.62     48.76   0.073
including         384.37  659.86    275.49   0.073
and including     559.28  659.86    100.58   0.102

 

After spring break-up the company intends to drill up to 3,000 metres in a 12-hole program, designed to continue testing near surface, high-grade mineralization at the West zone. Some of these holes will infill gaps between reported sections, while the bulk of the drilling will test a thick quartz-feldspar-porphyry dike that has yielded high-grade values at depth and has not been tested near surface. If the initial near surface testing of the dike is successful, the program will be expanded to test downdip extensions. All 2009 drilling will be incorporated into a revised resource/reserve report to be released later this year.

“We continue to expand our resource within the confines of the pit design laid out by our engineers. Our focus to expand the near surface resource in the West pit area, continues to justify our early production plans. We continue to be impressed with our results at depth in the West area.” says Mr. Clarke.

Metallurgical results

The company is pleased to report results from metallurgical testing conducted on drill core samples from its 100-per-cent-owned Chu molybdenum project located 85 kilometres south of Vanderhoof, B.C.

The emphasis of the testing was to maximize the recovery of molybdenite into a marketable concentrate while maximizing the rejection of pyrite and chalcopyrite. Test F20 recovered 75.8 per cent molybdenum into a concentrate grading 51.5 per cent Mo, thus achieving the desired goal of producing a molybdenum concentrate of greater than 50 per cent from slightly lower than average grade material.

TTM has now prepared four additional composites from drill core assay rejects at an average grade of 0.06 per cent Mo to reflect the average grade and to reflect the various lithologies within which the mineralization is contained. These composites have been sent to SGS Lakefield to examine the universality of the F20 test parameters and to investigate additional optimization parameters. In addition to the metallurgical testing these new composites will be subjected to acid generation potential (ABA) studies.

The technical content of this metallurgical summary has been prepared by Gary Hawthorne (PEng), an independent qualified person as defined by National Instrument 43-101.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. The technical information provided in this press release was reviewed by Warren Robb, (PGeo) and Wesley Raven (PGeo), who are both qualified persons for the purposes of NI 43-101.

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No Comments

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.

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No Comments

Bard Ventures Update

Bard Ventures 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:

  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 0.120 51,919
0.08 17,699 0.125 48,775
0.09 15,853 0.130 45,435
0.10 13,922 0.135 41,435
 
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 0.090 115,464
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
     
  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 0.120 125,858
0.09 41,556 0.126 115,132
0.10 34,975 0.131 101,310
 
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
*Note: Bold 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.

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No Comments

TTM Resources Updated Resource Estimate and Drill Results

TTM Resources Inc. has received an updated resource estimate from GH Giroux, PEng, MASc, of Giroux Consultants Inc., of Vancouver, B.C., for its 100-per-cent-owned Chu molybdenum project 75 kilometres southwest of Vanderhoof, B.C. The resource estimates will be included in a revised National Instrument 43-101 report to be filed within 45 days.

At a cut-off grade of 0.04 per cent Mo there are an estimated 139.9 million tonnes grading 0.061 per cent Mo (188.2 million pounds Mo), 173.3 million tonnes grading 0.06 per cent Mo (229.3 million pounds Mo) and 84.4 million tonnes grading 0.058 per cent (107.9 million pounds Mo) in the measured, indicated and inferred categories respectively.

 

                            MEASURED RESOURCE
           Tonnes greater
Mo cut-off   than cut-off   Grade greater than cut-off
                              Mo     Cu
(%)               (tonnes)     %     (%)   Million lb Mo   Million lb Cu

0.02          237,200,000  0.048  0.034            251.1           177.8
0.04          139,920,000  0.061  0.036            188.2           111.1
0.05           90,240,000  0.070  0.036            139.3            71.6
0.08           19,710,000  0.100  0.039             43.5            16.9
0.09           12,160,000  0.110  0.042             29.5            11.3

                            INDICATED RESOURCE
           Tonnes greater
Mo cut-off   than cut-off   Grade greater than cut-off
                              Mo     Cu
(%)               (tonnes)     %     (%)   Million lb Mo   Million lb Cu

0.02          410,160,000  0.042  0.034            379.8           307.5
0.04          173,340,000  0.060  0.037            229.3           141.4
0.05          102,710,000  0.070  0.037            158.5            83.8
0.08           26,130,000  0.097  0.039             55.9            22.5
0.09           14,840,000  0.106  0.041             34.7            13.4

                             INFERRED RESOURCE
           Tonnes greater
Mo cut-off   than cut-off   Grade greater than cut-off
                              Mo     Cu
(%)               (tonnes)     %     (%)   Million lb Mo  Million lb Cu

0.02          220,200,000  0.040  0.036            194.2           174.8
0.04           84,400,000  0.058  0.043            107.9            80.0
0.05           50,040,000  0.068  0.046             75.0            50.8
0.08           12,420,000  0.093  0.051             25.5            14.0
0.09            4,580,000  0.103  0.051             10.4             5.2

                     MEASURED-PLUS-INDICATED RESOURCE

           Tonnes greater
Mo cut-off   than cut-off   Grade greater than cut-off
                              Mo     Cu
(%)               (tonnes)     %     (%)   Million lb Mo  Million lb Cu

0.02          647,330,000  0.044  0.034            628.0           485.3
0.04          313,250,000  0.060  0.037            414.4           255.6
0.05          192,950,000  0.070  0.036            297.8           153.2
0.08           45,840,000  0.098  0.039             99.1            39.4
0.09           26,990,000  0.108  0.041             64.3            24.4

 

Resource criteria

The mineral resources mentioned above are defined in terms of the National Instrument 43-101 regulations and their estimation was carried out using industry standard practices using ordinary kriging of blocks 20 by 20 by 10 metres high. The mineral resources are undiluted and a total of 10 assays were capped at 0.54 per cent Mo. Measured mineral resources were produced using a search ellipse with dimensions equal to one-fourth the semi-variogram range, indicated mineral resource estimates were produced using a search ellipse with dimensions equal to one-half the semi-variogram range. A specific gravity based on 328 measurements of 2.69 was used for tonnage calculations. Assay results from 121 diamond drill holes totalling 64,610 metres were used. A total of 22,170 Mo assay and 20,917 Cu assay intersections made up the resource database.

The company is very pleased with the result of these independent estimates, and subject to the conclusions and recommendations in the upcoming National Instrument 43-101 report, it will use these resource estimates as a guide for the 2009 drill program and to enhance future economic development studies.

Warren Robb states: “Our current drilling will now focus on defining our highest-grade molybdenum areas. This drilling will help us properly identify and define the best areas for starter pits, and enhance our overall resource model. Our dedicated geological staff remains motivated and focused on outlining British Columbia’s second-largest primary molybdenum deposit.”

Drill results

The company is also pleased to release the results from CHE-08-38 to CHE-08-52 and CHW-08-20 to CHW-08-23, completed in 2008.

Analyses of samples from the current program are completed at Stewart Group in Kamloops, B.C. The company has in place a comprehensive quality-assurance/quality-control program including standards, blanks and duplicate samples that form part of the sampling protocol. In addition the laboratory has its own quality-assurance program.

 

                                HIGHLIGHTS

                                  Length
Hole No.    Azimuth   Dip       (m)       From       To  Length    Mo (%)

2008-CHU-
E038                                    389.21   419.00   29.79    0.098
                                        507.12   517.22   10.10    0.130
2008-CHU-
E040                                    306.92   323.27   16.35    0.100
2008-CHU-
E042            210   -69     742.76     32.61    55.01   22.40    0.103
                                        151.49   175.86   24.37    0.122

2008-CHU-
E044            210   -50     833.42    428.83   456.26   27.43    0.101
                                        495.89   514.17   18.28    0.107
2008-CHU-
E046            208   -49     481.26    339.84   356.80   16.96    0.188
2008-CHU-
E047            210   -69     980.49    419.69   444.07   24.38    0.129
                                        569.03   714.23  145.20    0.100
2008-CHU-
E050            210   -69     932.03    561.95   858.88  296.93    0.088
including                               561.95   709.54  147.59    0.104
and including                           601.20   694.30   93.10    0.127
and including                           676.01   694.30   18.29    0.215
2008-CHU-
W021                                    346.54   400.49   53.95    0.100
2008-CHU-
W022                                     32.61    66.14   33.53    0.110
                                        120.00   192.00   72.00    0.100
                                        581.00   599.51   18.51    0.210
2008-CHU-
W023                                    159.36   182.00   22.64    0.106
                                        210.18   242.91   32.73    0.115
                                        663.47   706.19   42.72    0.120

 

Mr. Clarke says: “Our goal throughout the 2008 drill program was to improve the resource classification by establishing a measured resource and to move most of the inferred resource into the indicated resource category. The preliminary economic assessment report (PEA) written by Moose Mountain guided these efforts. We are excited with our success. We continue to see areas of high-grade Mo throughout the potential mining area and are pleased to note that our exploration efforts have identified resources below the 650-metre pit bottom identified in Moose Mountains’ PEA report. Our resource continues to grow stronger at depth. This bodes well for a long profitable mining scenario for the company, the city of Vanderhoof and its surrounding communities. Our 2009 program, with the guidance of Moose Mountain and Giroux Consultants, will be to establish suitable near-surface, high-grade zones that will allow the company to maximize early returns in a future mining scenario. We will concentrate in the west pit area, where indications are good for the early recovery of high-grade Mo. We will keep our shareholders informed.”

Normal-course issuer bid

The company has completed the purchase of 2.5 million shares (5 per cent of its issued and outstanding) currently leaving 48,136,489 shares issued and outstanding. The company has applied for a continuation of this bid and has asked for approval to purchase up to an additional 1.6 million shares. “While we are surprised at the price shareholders are prepared to sell their shares at, we continue to believe purchase and cancellation is in the best interest of all shareholders,” says Mr. Clarke.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. The technical information provided in this press release was reviewed by Warren Robb, PGeo, and Wes Raven, PGeo, who are both qualified persons for the purposes of National Instrument 43-101.

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No Comments

Rhenium Results From The Molybdenum Mineralization On The Lone Pine Property

Bard Ventures Ltd. (“Bard” or the “Company“) is pleased to announce the following rhenium results from its Lone Pine Molybdenum Property (the “Property“). The Property is located approximately 15 kilometers north-northwest of Houston, BC, and is situated in the Omineca Mining Division. Rhenium assay results have been received and interpreted from drill holes BD-08-25 and BD-08-35.

The exploration drilling on the Lone Pine Property resulted in the discovery of a higher grade zone of molybdenum mineralization within the Alaskite Zone. As drill holes BD-08-25 and BD-08-35 represented the best molybdenum assay results within the higher grade core, rhenium analysis was conducted over the entire drill length of both drill holes. Rhenium is recovered as an economic by-product at some molybdenum porphyry mines. The following significant assay intervals for drill holes BD-08-25 and BD-08-35 are tabulated below:

Drill Hole No.

Total Depth (m)

From (m)

To (m)

Interval (m)

Mo%

MoS2%

Re g/t

BD-08-25

798.82

67.92

798.82

730.90

0.10

0.17

0.15

BD-08-35

779.03

25.29

779.03

753.74

0.10

0.17

0.14

 

including

193.00

779.03

586.03

0.12

0.20

0.17

 

 including

327.00

725.00

398.00

0.15

0.25

0.20

 

including

509.00

609.00

100.00

0.20

0.33

0.29

 

including

509.00

535.00

26.00

0.31

0.51

0.40

Rhenium

Rhenium is used as an important component in superalloys for blades in turbine engines and this is the major use today. Rhenium is an ideal metal for use at very high temperatures, which makes it suitable for rocket motors. Rhenium is added to tungsten and molybdenum to form alloys that are used as filaments for ovens and lamps. It is also used in thermocouples which can measure temperatures above 2000 C, and for electrical contacts which stand up well to electric arcs. Rhenium is used in high-temperature superalloys that are used to make jet engine parts and in platinum-rhenium catalysts which in turn are primarily used in making lead-free, high-octane gasoline.

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.

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.

Please refer to the Company’s website at www.bardventures.com for drill hole locations and additional information.

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.

Pulp samples from BD-08-25 and BD-08-35 were analyzed by Acme Analytical Laboratories in Vancouver utilizing the Group 1F methodology. Analytical procedure consisted of an Aqua Regia digestion and Ultratrace ICP-MS analysis.

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No Comments

Lone Pine Molybdenum 43-101 Resource Estimate Completed Measured + Indicated 110,340,000 tonnes Grading 0.083% Mo

Bard Ventures Ltd. (“Bard” or the “Company”) is pleased to provide the first independent National Instrument 43-101 compliant resource estimate on the Alaskite Zone molybdenum mineralization from the Lone Pine Property (the “Property”) located in the Omineca Mining Division approximately 15 kilometres north-northwest of Houston, BC. The resource estimate was completed by GeoSim Services Inc.

Lone Pine measured and indicated 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

0.120

51,919

0.08

17,699

0.125

48,775

0.09

15,853

0.130

45,435

0.10

13,922

0.135

41,435

 

 

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

0.090

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

 

 

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

0.120

125,858

0.09

41,556

0.126

115,132

0.10

34,975

0.131

101,310

Lone Pine inferred mineral resource summary:

 
INFERRED
   

Cutoff % Mo

Tonnes ≥ Cutoff (000’s)

Mo%

in-situ lbs Mo (000’s)

0.02

27,827

0.084

51,532

0.03

27,555

0.085

51,636

0.04

25,840

0.088

50,131

0.05

22,839

0.094

47,331

0.06

18,295

0.104

41,947

0.07

15,238

0.111

37,290

0.08

13,092

0.117

33,769

0.09

11,800

0.121

31,477

0.10

10,186

0.125

28,070

Notes:

  • The mineral resources were estimated in December, 2008 using ordinary kriging constrained by grade domain and lithologic solid models. Only molybdenum grades were estimated.
  • Assay grade distribution was evaluated statistically before compositing. No cutting or capping of molybdenum grades was deemed necessary.
  • Density measurements were made on 83 core samples and density was assigned based upon the median value for each lithologic domain.
  • ‘Best Fit’ 10 m downhole composites were generated within a grade shell domain based on 0.02% Mo cut-off grade.
  • Semi-variograms were modeled in order to develop kriging parameters, search parameters and anisotropy. The block model size was set at 20 m x 20 m x 10 m. block grades were estimated using three interpolation passes with increasing search distance.
  • The model was validated by comparing to nearest neighbour estimated and composite grade distributions, swath plots and visual inspection of sections and plans. Resources were classified as measured, indicated or inferred based upon a number of constraints including, zone, drilling density and distance to nearest composite.
  • A preliminary optimized open pit was generated in order to assess the potentially mineable portion of the resource. Blocks located beyond the pit limits were excluded from the resource classification.
  • Resources are summarized in the tables below for a range of cutoff grades. The cutoff grade selection in operating molybdenum mines is sensitive to a large range of economic factors and can be impacted by processing and mining method selection and scale. Cutoff grades are not static during a typical mine life and hence a resource estimate that provides a summary over a range of cutoff grades is useful in assessing potential development options.


QA/QC Procedures and Methodology

The resource estimation has been prepared by Geosim Resources Inc., under the direction of Ronald G. Simpson, P.Geo. an independent Qualified Person for the purposed of NI 43-101. A report under NI 43-101 disclosing these updated Lone Pine resources is being prepared by Geosim Services Inc. and will be filed by Bard Ventures Ltd. on SEDAR within 45 days. Mr. Simpson has reviewed and approved the contents of this news release.

There are no known drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data used to prepare the mineral resource included in this news release. Bard is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing, or any other relevant issues by which the mineral resource included in this news release may be materially affected.

The drill core, placed in wooden boxes, was logged, photographed, and split using a hydraulic core splitter at the Company’s core logging facility in Smithers. In general, samples of halved core were taken every 2 meters. Litho-breaks, especially dykes, eventually forced an uneven sample proportion. Samples were bagged in plastic bags including the sample interval tags and sample number. Every 20th sample, either a blank or a standard material, was put in a bag with a tag and sample number. From BD-08-33 on, a second standard was used, so the sequence every 20th sample was Blank-standard01-standard02-Blank for quality control purposes.

Samples from BD-07-01 to BD-07-20 were shipped by Canadian Freightways in Smithers, to Acme Analytical Laboratories in Vancouver, B.C. for analysis. Samples from BD-07-21 to BD-08-32 were shipped by Canadian Freightways in Smithers, to Eco Tech Laboratory of Kamloops, BC. for analysis. Samples from BD-08-33 on, were shipped to Acme Analytical Laboratories in Smithers, B.C. for preparation. Acme Smithers send the split sample to their facility in Vancouver, BC. for analysis. Both, Eco Tech Laboratory of Kamloops, and Acme Analytical of Vancouver, BC, are ISO 9001:2000 accredited laboratories.

The drill core was prepared for assaying using Acme’s R150 prep method, and assaying was then completed for 35 element including Mo, Cu, Pb, Zn and Ag utilizing their 1E ICP-ES package. The R150 prep package, consists of crushing 1kg of sample to 70% passing 10 mesh, then 250g of this material is split and pulverized to 95% passing 150 mesh. A 0.25g split of this material is then heated in HNO3-HCIO4-HF to fuming and taken to dryness. The residue is dissolved in HCL, and then the solution is analyzed by ICP. Mo assays exceeding 4,000ppm were re-assayed using Group 7TD Single Element (Mo) Assay by ICP-ES and 4-Acid Digestion. Eco Tech uses the similar procedure except the threshold for Mo re-assay was 500ppm. The split drill core is currently stored in a yard at the core logging facilities in Smithers. The stacks of cores are covered by a tin roof. The storage yard is fenced in and locked. The pulp samples are stored in an insulated shed.

The Company is very pleased with the resource of the Alaskite Zone, “This is only one of several known mineralized areas on the Lone Pine Property,” stated Eugene Beukman, President, “This resource, as well as the recently reported positive metallurgical results (see news release dated January 9, 2009), adds critical components to the economics of the Lone Pine mineralization. We are extremely excited with the excellent results to date, and look forward to an aggressive exploration year ahead.” The information from the resource calculations and the Company’s database will help guide future exploration on the Lone Pine Property.

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.

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.

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Lone Pine Molybdenum Metallurgical Results Received

Bard Ventures is pleased to provide the preliminary metallurgical results received from G & T Metallurgical Services Ltd. based in Kamloops, B.C. The metallurgical work was completed on representative core samples from the Alaskite Zone molybdenum mineralization on the Lone Pine Property located in the Omineca Mining Division approximately 15 kilometres north-northwest of Houston, BC. The claims cover several known molybdenum showings named the Quartz Breccia, Granby, Mineral Hill Zones and the main high priority Alaskite Zone that has been the focus of the majority of the diamond drilling completed to date.

G & T Metallurgical completed the mineralogical and metallurgical test work on approximately 50 kg of representative quartered NQ2 size core assaying 0.060% molybdenum and 0.034% copper from the Alaskite Zone on the Lone Pine Property. The results of this first phase of testing are encouraging with the following results reported from G & T Metallurgical:

  • Rougher circuit flotation tests produced molybdenum recoveries of 90% or greater to the rougher concentrate;
  • open circuit batch cleaner tests produced concentrate grades as high as 43% molybdenum;
  • the Bond ball work index of 14.1 kWh/tonne; and
  • the sulphides present in order of abundance are pyrite/pyrrhotite, chalcopyrite and molybdenite.

The Company is very pleased with these initial results which add another critical component to the economics of the Lone Pine mineralization.

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.

A plan of the drill holes in the Alaskite Zone may be viewed on the Company’s website at

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.

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