Greatest hopes for Lone Pine
Published: September 10, 2008 5:00 AM
Greatest hopes for Lone Pine
Assay results have confirmed Bard Ventures’ greatest hopes for its high grade molybdenum deposit at the Lone Pine property, 15 kilometres northwest of Houston.
“People are throwing around the prospective mining number of .05 per cent Mo. We are at .1 per cent. We are double. This is fantastic for us,” said Bard Ventures president, Eugene Beukman.
Bard is currently turning two drills, with 40 holes complete. The latest assay results were drawn from holes 33 and 34. Results from holes 35 and 36 are expeted later this week.
With the latest assay results, the junior company is primed to move forward, as the Lone Pine property lies next door to significant existing infrastructure, including Hwy 16, a natural gas pipeline, a major hydro power transmission line and transformer sub-station, and the CN rail line.
“Everything is coming together now,” said Beukman.
Bard is now drafting a technical report for resource calculations, in compliance with the TSX and regulatory bodies, for completion by mid-October. Permits allowing, actual mining could begin within two to three years. The operation is administered out of Smithers and has contributed as much as $3 million to the local economy, said Beaukman. The company expects to spend up to $5 million more in the next year.
Sherwood Copper is reporting a second batch of high grade assay results from the Kutcho Copper Project, advancing the operation toward completion of a feasibility study.
“The results of 2008... have so far exceeded our expectations,” said Stephen Quin, President and CEO of Sherwood Copper. “From the results received to date, it would appear that the high grade mineralization has better continuity and is more extensive than previous drilling suggested and this bodes well for an updated resource model, once completed, and for enhanced project economics.”
The high grade mineralization in the main deposit is one of three massive sulphide deposits identified at Kutcho. Seventy-eight new holes were successfully completed within the Main deposit resource area in 2008, adding to the 221 existing holes.
Grande Portage Resources has completed a 10-hole drilling operation at its property near Smithers. The samples have been shipped for ore-grade analysis of gold, silver, copper, lead and zinc.
Selected grab samples from 2007 assayed up to 72.95 g/t gold, 365 g/t silver, 1.218 per cent copper, 29.0 per cent lead and 20.14 per cent zinc. Previous work had outlined a known strike length of almost one kilometre. The initial site locations were selected for ease of set-up and to maximize strike exposure.
Future drilling will require more detailed work on drill pad construction in order to deal with terrain obstacles and to be more target specific. |
