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Mining industry

Bard Ventures Ltd. Acquires 100% Interest in the Little Bear Lake Claims

Strategic Insights

— 2 min read

Bard Ventures Ltd. ("Bard" or the "Company") has entered into an agreement to acquire a 100% interest in the Little Bear Lake claims, which are situated in the Thunder Bay Mining Division, approximately 4 kilometers northeast of Schreiber, Ontario. The 5 mineral claims that comprise the Property cover an area of approximately 826 hectares and surround a leased claim which hosts the Little Bear Occurrence. The Company plans a dual-phase program to explore the Property, including data compilation, line cutting, and a 3D IP geophysical survey, followed by a Phase II drilling program.

Key Takeaways:

  • The Little Bear Lake Property is located in the Thunder Bay Mining Division and has high potential to host a lode gold or VMS style deposit.
  • The Property covers an area of approximately 826 hectares and surrounds a leased claim which hosts the Little Bear Occurrence.
  • A 2.4 meter by 1.5 meter shaft was sunk to a depth of 5.5 meters along with trenching and pitting at the Little Bear Occurrence.
  • A one ton bulk sample taken from the occurrence in 1936 was reported to have an average grade of 1,419 g/ton gold.
  • The Schreiber-Pyramid Occurrence is located to the south of the Property boundary and has a history of auriferous quartz veins through trenching and sampling.
  • In 1969, Zenmac Metal Mines Ltd completed a five-hole drill program totaling 243 meters with best results from a base metal showing returning 4.6% Cu and 19.2% Zn / 0.55m from the #2 Vein.
  • A grab sample taken by Falconbridge on the #2 base metal vein returned 31% Zinc and a one foot channel sample reported 13.77% Zinc.
  • A grab sample from the #1 Vein located above the adit entrance assayed 45.2g/t Au.
  • A new gold discovery is reported 175m to the south of the Little Bear Lake Property boundary with a four meter wide iron formation returning 4.85g/t Au and a quartz vein located immediately south of the Property boundary along a hydro right of way assaying 10.48g/t Au.
  • A prospecting and sampling program was initiated in August 2010 following up on anomalous magnetic and VLF responses, uncovering a new gold occurrence associated with an intense magnetic response.
  • The Company plans a dual-phase program, including data compilation, line cutting, and a 3D IP geophysical survey, followed by a Phase II drilling program in the spring/summer of 2011.

Statistics:

  • The Property covers an area of approximately 826 hectares.
  • A 2.4 meter by 1.5 meter shaft was sunk to a depth of 5.5 meters at the Little Bear Occurrence.
  • A one ton bulk sample taken from the occurrence in 1936 had an average grade of 1,419 g/ton gold.
  • The Schreiber-Pyramid Occurrence has a history of auriferous quartz veins through trenching and sampling.
  • In 1969, Zenmac Metal Mines Ltd completed a five-hole drill program totaling 243 meters.
  • A grab sample taken by Falconbridge on the #2 base metal vein returned 31% Zinc.
  • A one foot channel sample from the #2 Vein reported 13.77% Zinc.
  • A grab sample from the #1 Vein located above the adit entrance assayed 45.2g/t Au.
  • A new gold discovery was made 175m to the south of the Little Bear Lake Property boundary.
  • A prospecting and sampling program was initiated in August 2010, uncovering a new gold occurrence associated with an intense magnetic response.

Sources:

  • Bard Ventures Ltd. (TSX VENTURE: CBS)(FRANKFURT: BVU)
  • Marketwire (Vancouver, British Columbia, Nov 15, 2010)
  • Sedar.com (Public filings)

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