Well,Well.......Looks like someones going mining right soon.
First out of the gate?
C
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United Bolero gets approval for Bald Butte moly mine
2005-08-16 14:24 ET - News Release
Mr. Joe Bardswich reports
UPDATE ON DRILL PROGRAM & APPROVAL TO COMMENCE MINING
United Bolero Development Corp.'s drilling of all 50 percussion drill holes on the Bald Butte project has been completed, all 50 holes have been plugged and reclaimed in accordance with Montana Deptartment of Environmental Quality (DEQ) specifications, 42 holes have been split and sent for assay (splitting continues), and assay results from an additional 11 holes have been received (total assays from 20 holes received to date).
The mining plan of operations (based on a small quarry at 1,000 tons per day) submitted by the company to the DEQ has been accepted. The small miner's exclusion statement (SMES), as provided for in the provisions of the Montana Metal Mines Reclamation Act, has been completed by the company and submitted to the Montana DEQ. The company is excluded from the permitting requirements of the act by the SMES submission. Permission to commence mining on the Bald Butte project is granted subject to a surface disturbance limit of five acres.
Values in the 11 drill holes recently received ranged from a low of 42 feet (from zero to 42 feet) of 0.049 per cent molybdenum (Mo) in hole P-137, which was terminated early due to poor ground conditions, to a high of 72 feet (from 24 to 96 feet) of 0.217 per cent Mo in hole P-116. Thirteen of the 20 holes received to date have graded greater than the 0.1 per cent target grade for the proposed quarry. The 13 holes have a weighted average intercept of 67 feet of 0.157 per cent Mo, are contiguous, covering an area measuring 100 feet by 200 feet and the better-grade mineralization is open to the east, west and southeast. The weighted average intercept of all 20 holes is 61 feet of 0.133 per cent Mo.
Metallurgical testing of Bald Butte mineralized drill cuttings from the reject portion of split samples continues at Hazen Research and N.A. Degerstrom metallurgical labs. Discussions with the owners of the Contact mill (an operating, custom flotation mill with capacity of 1,000 tons per day) located in Phillipsburg, Mont. (80 road miles from the Bald Butte deposit), are continuing. Finalization of these discussions is dependent on the receipt of metallurgical test results.
Blair Naughty, president, comments: "The granting of permission to commence mining on the Bald Butte project is a major step forward for the company. The advice and assistance provided to the company by the Montana Department of Environmental Quality, and the Montana Bureau of Mines and Geology, is very much appreciated. The experience of United Bolero has been that Montana is a very good place to do business. The results from our percussion drill program, thus far, exceeded our expectations. We await the remaining assays and the metallurgical test results."
L.J. Bardswich, PEng (Ontario), is the qualified person on the Bald Butte project for purposes of National Instrument 43-101. Mr. Bardswich is the on-site manager of the percussion drill program and he prepared the technical information contained in this news release. Mr. Bardswich is a director of United Bolero Development Corp., owns shares in United Bolero and is not an independent person as defined by National Instrument (NI) 43-101.
Sample splitting is being conducted under the supervision of the qualified persion, L.J. Bardswich, PEng. Sample splits are being submitted to the assay laboratory of Chris Christopherson Inc., Kellogg, Idaho, for analysis by AA methods. Samples submitted include blanks and standards as part of the company's quality control program. Random duplicate splits of approximately 6 per cent of the samples are being sent to Swastika Laboratories Ltd., Swastika, Ont., for comparison assaying.
Collar co-ordinates and assay values of significant intercepts for the most recent 11 holes are as follows:
Hole From To Intercept Grade Mo
No. (feet) (feet) (feet) (%)
129 42 66 24 0.075
101 36 66 30 0.083
116 24 96 72 0.217
114 30 96 66 0.200
130 30 96 66 0.089
138 24 96 72 0.142
139 0 66 66 0.081
137 0 42 42 0.049
132 30 96 66 0.152
141 30 96 66 0.108
131 42 96 54 0.107
Hole Grid east Grid north
No.
129 1100 1050
101 1000 1000
116 1050 950
114 1050 1000
130 1050 1050
138 950 1050
139 900 1050
137 900 1000
132 950 1000
141 950 1100
131 1000 1050 |
