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Bolero announces drill program at Cannivan Gulch Moly Project
Bolero announces drill program at Cannivan Gulch Moly Project.
About this update from Canada Carbon, Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, April 19 /CNW Telbec/ - United Bolero Development Corp. (the\n"Company" or "United Bolero"), (TSX-V: UNB) announces it has engaged Ruen\nDrilling, Inc. of Clark Fork, Idaho to conduct a 1,890 metre (approximately\n6,200 feet) drill program on United Bolero's Cannivan Gulch molybdenum\ndeposit. The Company anticipates drilling on or about mid June subject to the\nreceipt of the required permit.\n\n\nThe Cannivan Gulch property is located approximately 30 miles southwest\nof Butte, Montana and was previously explored between the years 1968 and 1981\nby Cyprus-Amax, Amoco Minerals and others. United Bolero has an option to\nacquire a 100% interest in the property which consists of 15 original\nunpatented claims covering 300 acres plus an additional 600 acres covered by\nan additional 30 claims. Historic work by Cyprus Exploration Company included\na detailed exploration program with 55 core holes totaling 88,450 feet drilled\nand 2,514 feet of underground development completed. Based on the results of\nthese earlier exploration programs, a non NI 43-101 compliant resource was\nestimated by Amoco Minerals Company, in June 1982, at 300 million tons grading\n0.06% Molybdenum ("Mo") containing 360,000,000 pounds of Mo. This historical\nresource was calculated at a 0.03% Mo cut-off resulting in a preliminary pit\ndesign with a 0.97:1 strip ratio. One objective of the work described below is\nto bring this historical resource into NI 43-101 compliance. This historic\nresource estimate quoted above, is considered to be relevant and is believed\nto be reliable based on the amount and quality of historic work completed. The\nCompany has not completed the work necessary to independently verify the\nclassification of the mineral resource estimates. The Company is not treating\nthe mineral resource estimates as National Instrument 43-101 defined resources\nverified by a qualified person. The historical estimates should not be relied\nupon. The properties will require considerable further evaluation which the\nCompany's management and consultants intend to carry out in due course.\n\n\nComments on Historical Results:\n-------------------------------\n\n- Higher grades within the deposit\n - Previous drilling indicates that the potential exists for a high\n grade core zone at depth\n - Historic Dr...