latest UNB news release
UNITED BOLERO ANNOUNCES PLANS FOR THE 2005 FIELD SEASON AT CANNIVAN GULCH AND BALD BUTTE
March 31, 2005, Vancouver, BC, Canada – United Bolero Development Corp. (the “Company”, “United Bolero”)(TSX.V-UNB) United Bolero Development Corp. (UNB) plans to commence drilling on the Bald Butte Molybdenum Project in May to verify historical drill hole data and bring the project into 43-101 compliance. Bald Butte is 100% owned by UNB and is located 28 miles northwest of Helena, Montana. Bald Butte contains a geologic resource, determined from historical drilling, of 131.9 million tons grading 0.077% Mo (203million lbs Mo) at a cutoff of 0.06% Mo. Bald Butte is of particular near term interest to UNB as it is contained within patented claims, close to existing infrastructure and rail lines, representing a faster track to full scale permitting and development. Drilling equipment will be moved from the Bald Butte to the Cannivan Gulch Project when Bald Butte drilling has been completed about July 1st. Drilling at Cannivan Gulch is also designed to verify historical drill hole data and bring that project into 43-101 compliance. Cannivan Gulch contains a geologic resource calculated from historical drill hole data of 300 million tons grading 0.06% Mo (369 million lbs Mo). In a press release dated March 9 UNB announced the recognition of a high grade zone at Cannivan Gulch. This zone contains a geologic resource, estimated from historical drill hole data that has not been validated by 43-101 standards, of 26 million tons grading 0.138% Mo. The high grade zone exhibits a geometry and proximity to existing underground workings that would allow a bulk minable underground mining scenario. Cannivan Gulch is located 30 miles southwest of Butte, Montana on federal lands in the Pioneer Mountains.
President William S. Morton states: “This work will provide UNB with up to date drill hole data verifying historical results that will bring the projects into 43-101 compliance. The company plans to be in a position to move forward with both projects by the end of 2005.”
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 this data.
On behalf of the Board of Directors,
Signed
“William Morton”
President & CEO
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