MOLYMANIA the race is on Message Board

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Gold/Mining/Energy : MOLYMANIA the race is on

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To: hank2010 who wrote (294)	3/9/2005 10:51:14 AM
From: Condor	of 336

United Bolero locates Cannivan Gulch higher-grade zone United Bolero Development Corp (TSX-V:UNB) Shares Issued 18,745,116 Last Close 3/8/2005 $0.245 Wednesday March 09 2005 - News Release Mr. William Morton reports UNITED BOLERO ANNOUNCES RECOGNITION OF HIGHER GRADE ZONE WITHIN THE CANNIVAN GULCH MOLYBDENUM DEPOSIT AND DRILLING PLANS FOR 2005 FIELD SEASON United Bolero Development Corp. has identified a higher-grade zone within the Cannivan Gulch molybdenum deposit that may be amenable to underground mining methods through detailed computer modelling of historic drill hole data by United Bolero (UNB) geologists. Recent computer work has also verified the extremely good continuity of molybdenum mineralization within the defined deposit and its geologic controls. Cannivan Gulch was recently purchased, and is 100 per cent owned by UNB. The project is located 30 air miles southwest of Butte, Mont. Historical drill hole data suggest the deposit contains a drill indicated resource of over 360 million pounds of molybdenum metal that is minable by open-pit methods. Cannivan Gulch is a classic intrusive and sediment hosted, quartz stockwork molybdenum deposit similar in size and metal content to world-class deposits located around the world. The company has applied for an operating plan with the United States Forest Service to begin a detailed comprehensive core drilling program during 2005 designed to verify historical drill results, firm up the high-grade zone, and define the outer limits of mineralization. The main deposit is still open at depth and to the north and south of presently defined mineralization. High-grade zone Verification and delineation of the high-grade zone during 2005 will allow for an early engineering evaluation of an underground mine that could take advantage of an existing exploration adit that penetrates the centre of the zone. An underground mine could speed up the permitting and positive cash flow of the project significantly. Molybdenum grades within this zone are estimated to be averaging twice the grade of the known deposit. Important intercepts from historic drill holes that define a portion of the high-grade zone are listed in the table below, and a cross-section through the zone is attached. A drill hole location map showing historic and proposed 2005 core holes and the known outline of significant molybdenum mineralization is also attached and will be made available on the company's website located at www.unitedbolero.com. HISTORIC DRILL HOLE INTERCEPTS HIGH GRADE ZONE Hole From To Intercept Mo ft ft ft % CG-1 260 457 197 0.1 CG-13 404 944 540 0.1 CG-18 920 1177 257 0.13 CG-22 440 533 93 0.1 550 1310 760 0.16 Including 690 750 50 0.28 Including 810 890 80 0.24 CG-23 140 410 270 0.15 Including 180 220 40 0.28 Including 350 390 40 0.27 470 530 60 0.22 Qualified person These results and comments have been prepared under the guidance of Robert B. Hawkins, a geologist and independent consultant to UNB, who is designated as the qualified person with the ability and authority to verify the authenticity and validity of these data. © 2005 Canjex Publishing Ltd.

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