Bard Ventures Awaits Assay Results At Its Lone Pine Molybdenum Property, Bc
- Date: 2007-12-04 - Word Count: 904
Share This!
Shakespeare said that "every man has business and desire, such as it is." For Bard Ventures (TSX.V: CBS), that business and desire is to find BC's next molybdenum mine as it completes the latest phase of a 10,000 meter diamond drill program on its Lone Pine Property in the northern part of the province. As per the company's most recent press release, drilling is underway with four holes already drilled. So far, all holes have encountered visual molybdenum mineralization.
The Lone Pine Property consists of seven mineral claims over a 1,051-hectare area in the Omineca Mining Division, approximately 15 km north-northwest of Houston, BC, (700 km north of Vancouver). The area is extremely well-serviced in terms of infrastructure. A power transmission line and a gas pipeline both run through the property, with a BC Hydro substation on its western edge. Highway 16 (the Yellowhead) runs through the western corner of the property.
According to the company's website, the Lone Pine area "extends over several molybdenum showings (Quartz Breccia, Alaskite Zone, Mineral Hill, and Granby, etc.), that have been previously documented in various assessment and government reports (Minfile Nos. 093L 027, and 093L 028)."
There has been a great deal of interest around the Lone Pine area since the early 20th century. As well, much geological, geophysical, and geochemical work has been done on the property in the last 30 years. Previous explorers at Lone Pine include Canex, Molymines, Cominco, Granby, and Noranda. The property has been the subject of several drill programs since the 1970s, and in 1978, a hole drilled in the Quartz Breccia Zone returned 356.3 m of 0.068% MoS2, which includes 154 m of 0.088% MoS2. A second deeper drill hole, drilled approximately one km apart from the Quartz Breccia Zone hole, was drilled in the Alaskite Zone and returned 343.7 m of 0.06% MoS2, including 101.4 m of 0.078% MoS2. It is important to note that past programs were limited to probing shallowly beneath known surface mineralization, and that the extent of the mineralization has not yet been fully delineated.
The last few years have underscored a trend in British Columbia of revisiting and reevaluating old molybdenum showings. Despite the historic interest in Lone Pine, previous explorers were discouraged from pursuing such projects due to low molybdenum prices. However, with molybdenum currently trading at around US $34 per lb., many of these old showings are now economically viable.
"The lithology, alteration and style of mineralization in the suite of samples from the Lone Pine Mo-Cu porphyry prospect are comparable to porphyry-type Mo-Cu deposits on the global scale, "said consulting geologist Dr. Eva Schandl, in summarizing her detailed petrographic report on 18 drill core samples taken from the property.
The company is taking a two-pronged exploration approach. The first phase involved data compilation, line cutting, mapping, and a 3D IP geophysical survey. Interpretation and integration of all data has been completed, resulting in diamond drill targets being selected. The second phase- now underway- is an ambitious drilling program, with four holes completed to date.
The USGS' 2007 molybdenum fact sheet states that "molybdenum occurs as the principal metal sulfide in large low-grade porphyry molybdenum deposits and as an associated metal sulfide in low-grade porphyry copper deposits." It is most often found as a byproduct of porphyry copper mining.
Molybdenum has the sixth highest melting point of any element; hence it is often used in making high-strength steel. It is extremely versatile, non-toxic, and is highly resistant to corrosion. Its ability to withstand extreme temperatures without significantly expanding or softening make it useful in applications that involve intense heat, for example- electrical filaments, aircraft parts, industrial motors, and electrical contacts.
Bard has several distinct advantages as a junior moly play. The company's management are all veterans of the business; its president, Eugene Beukman, is a South African with over twenty years' experience in the mining business, having gleaned some of that experience as a legal advisor to the predecessor of BHP Billiton. The company focuses its efforts in British Columbia - one of the world's major molybdenum producers. Another advantage is that it is possible to drill year-round at Lone Pine, compared to other parts of the province that may be subject to major snowfall. The area is also unusual in B.C. in that it has absolutely everything in terms of infrastructure, which does a great deal to defray operating costs. .
The Lone Pine project has enjoyed a great deal of historic interest and has progressed to the advanced drill stage, making this is a particularly opportune time for investors as the company awaits assay results to confirm encouraging historic findings. A few good holes could easily pave the way for Bard's investors to realize some near-term gains.
The company is at a pivotal stage in terms of development, and its investors could well be quoting the Bard himself in the coming weeks: "Fortune now /To my heart's hope!/ Gold; silver; and base lead." (Merchant of Venice, Act II, Scene 9)
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
The Lone Pine Property consists of seven mineral claims over a 1,051-hectare area in the Omineca Mining Division, approximately 15 km north-northwest of Houston, BC, (700 km north of Vancouver). The area is extremely well-serviced in terms of infrastructure. A power transmission line and a gas pipeline both run through the property, with a BC Hydro substation on its western edge. Highway 16 (the Yellowhead) runs through the western corner of the property.
According to the company's website, the Lone Pine area "extends over several molybdenum showings (Quartz Breccia, Alaskite Zone, Mineral Hill, and Granby, etc.), that have been previously documented in various assessment and government reports (Minfile Nos. 093L 027, and 093L 028)."
There has been a great deal of interest around the Lone Pine area since the early 20th century. As well, much geological, geophysical, and geochemical work has been done on the property in the last 30 years. Previous explorers at Lone Pine include Canex, Molymines, Cominco, Granby, and Noranda. The property has been the subject of several drill programs since the 1970s, and in 1978, a hole drilled in the Quartz Breccia Zone returned 356.3 m of 0.068% MoS2, which includes 154 m of 0.088% MoS2. A second deeper drill hole, drilled approximately one km apart from the Quartz Breccia Zone hole, was drilled in the Alaskite Zone and returned 343.7 m of 0.06% MoS2, including 101.4 m of 0.078% MoS2. It is important to note that past programs were limited to probing shallowly beneath known surface mineralization, and that the extent of the mineralization has not yet been fully delineated.
The last few years have underscored a trend in British Columbia of revisiting and reevaluating old molybdenum showings. Despite the historic interest in Lone Pine, previous explorers were discouraged from pursuing such projects due to low molybdenum prices. However, with molybdenum currently trading at around US $34 per lb., many of these old showings are now economically viable.
"The lithology, alteration and style of mineralization in the suite of samples from the Lone Pine Mo-Cu porphyry prospect are comparable to porphyry-type Mo-Cu deposits on the global scale, "said consulting geologist Dr. Eva Schandl, in summarizing her detailed petrographic report on 18 drill core samples taken from the property.
The company is taking a two-pronged exploration approach. The first phase involved data compilation, line cutting, mapping, and a 3D IP geophysical survey. Interpretation and integration of all data has been completed, resulting in diamond drill targets being selected. The second phase- now underway- is an ambitious drilling program, with four holes completed to date.
The USGS' 2007 molybdenum fact sheet states that "molybdenum occurs as the principal metal sulfide in large low-grade porphyry molybdenum deposits and as an associated metal sulfide in low-grade porphyry copper deposits." It is most often found as a byproduct of porphyry copper mining.
Molybdenum has the sixth highest melting point of any element; hence it is often used in making high-strength steel. It is extremely versatile, non-toxic, and is highly resistant to corrosion. Its ability to withstand extreme temperatures without significantly expanding or softening make it useful in applications that involve intense heat, for example- electrical filaments, aircraft parts, industrial motors, and electrical contacts.
Bard has several distinct advantages as a junior moly play. The company's management are all veterans of the business; its president, Eugene Beukman, is a South African with over twenty years' experience in the mining business, having gleaned some of that experience as a legal advisor to the predecessor of BHP Billiton. The company focuses its efforts in British Columbia - one of the world's major molybdenum producers. Another advantage is that it is possible to drill year-round at Lone Pine, compared to other parts of the province that may be subject to major snowfall. The area is also unusual in B.C. in that it has absolutely everything in terms of infrastructure, which does a great deal to defray operating costs. .
The Lone Pine project has enjoyed a great deal of historic interest and has progressed to the advanced drill stage, making this is a particularly opportune time for investors as the company awaits assay results to confirm encouraging historic findings. A few good holes could easily pave the way for Bard's investors to realize some near-term gains.
The company is at a pivotal stage in terms of development, and its investors could well be quoting the Bard himself in the coming weeks: "Fortune now /To my heart's hope!/ Gold; silver; and base lead." (Merchant of Venice, Act II, Scene 9)
This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.
Related Tags: british columbia, molybdenum, mineralization, bard ventures, lone pine, assay
Resourcex Investor is an internationally distributed newsletter about emerging junior resource companies. Sign up for a free 1-month trial to our newsletter and get instant access to news and investing tips that have helped many of our readers make more money. www.resourcex.com Your Article Search Directory : Find in Articles
Recent articles in this category:
- Sbi Best Sip Plans 2010
SBI Mutual funds have introduced many mutual schemes. Each scheme has different limitations. SBI SIP - Icici Sip Plans 2010 - Best Sip Plans
ICICI Prudential offers many schemes. These fund schemes have SIP. What is SIP? SIP's expansion is S - Determining Where To Invest Money
There are several kinds of investments, also you will find numerous factors to find out where to inv - Retirement Plans A Necessity Of Life
A person works whole life to give a decent upbringing to his children and families. But while improv - Stock Market Timing Signals
Follow the PlanThis would seem a statement of common sense, but the fact of stock market timing sign - A Selection Of Financial And Investment Strategy Guidelines For Turning A Profit
Yet, we don't often have the money to leave work right at this moment. We need a constant salary to - Find Out The Profitable Way To Invest In Small Cap Stocks
Everyone wants to find a penny stocks list or other investment strategies that can turn your literal - Portfolio #4 - Watergate
IntroductionThe problem is not that the world is running out of water. No, the problem is that drink - Dulton Group: Information Content Of Dividends
Dulton Group helps you to analyze the information content of dividends, an important factor affectin - Coping With Fear In A Markets
The real fact is that all traders, investors as well as stock market investors, who feel afraid, occ
Most viewed articles in this category:
- Investor Stress: A New Approach
George Muzea is both an investor and a stock market advisor. In any given month, he will be paid $10 - Real Estate Investment Financing
1. Location: Your real estate investment's location is arguably the most important component of your - Canadian Oil Sands - Who Are the Major Players
The Canadian oil sands represent one of the most lucrative investment opportunities to oil and gas i - Why Bulk Preconstruction?
Bulk preconstruction is the latest trend in secure, high profit real estate investing. By buying wit - Investing - It Is Not As Scary As You Think
Many people want to have more money - OK everyone does. However, most people don't know how to go a - How Do I Know Which Programs Are Scams?
Although it is virtually impossible to tell if a HYIP is a scam until the moment when they stop payi - Currency Trading Success - 6 Tips to Increase your Profits
If you want to increase your profit potential and achieve currency trading success then the simple t - The Business Cycle
Investors who want to beat the market should be followers of the business cycle. The business cycle - Pros and Cons of Real Estate
Like any other profession, there are good and bad things about what are available. Each of the thin - The Fixer Upper
Real estate investing has become almost a national pastime. Millions are made every year on the buyi