Business
United Bolero advances Cannivan Gulch - Hires Project Manager
United Bolero advances Cannivan Gulch - Hires Project Manager.
About this update from Canada Carbon, Inc.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Feb. 14 /CNW/ - United Bolero Development Corp. (the \"Company\"\nor \"United Bolero\"), (TSX-V: UNB) is pleased to announce the appointment of\nBruce Parker, P.E. as project manager for the company's wholly owned Cannivan\nGulch Molybdenum project. Mr. Parker will spearhead the permitting and further\ndevelopment of the Cannivan Gulch property located in Beaverhead National\nForest near Divide, in south western Montana.\nThe Cannivan Gulch deposit was originally discovered by Cyprus\nExploration Company in 1968. From 1969 through 1982 Cyprus, now Amoco\nMinerals, conducted a detailed exploration program costing in excess of\n$5 million, including over 90,000 feet of diamond drilling in 56 holes and in\nexcess of 2500 feet of underground development. Amoco calculated a drill\nindicated resource, (utilizing Kriging and floating cone methods) of\n300.5 million tons averaging 0.100% MoS2 (360.6 million pounds of contained\nmolybdenum) with a waste to ore stripping ratio of 0.9:1. Although this\ncalculation was performed by experienced professionals employed by a major\ninternational mining and development company, it is considered non 43-101\ncompliant and dated and therefore should not be relied upon.\nDuring the past year, the company has been able to digitize all available\ndata from Amoco. Following studies of this data, management has concluded that\nthere may be areas of higher grade within the deposit of near term economic\ninterest. Generally, drilling was on 400 foot centers in vertical holes. Of\nparticular interest are the results of vertical drill hole DDH CG-22 which\nintersected 640 feet (195 meters) of 0.288% MoS2, from 550 feet to 1190 feet\nincluding 50 feet (15.2 meters) of 0.516% MoS2 from 690 feet to 740 feet and\n40 feet (12.2 meters) of 0.544% MoS2 from 810 feet to 850 feet. (Assay values\nare the averages from 3 different assay labs utilized by Amoco).\nOne of Mr. Parker's priorities will be the submittal and approval of\npermits for a drilling program which would include drilling additional holes\nin the GC-22 area. Bruce Parker is a native of Montana, an Honors graduate of\nMontana State University and is a registered Professional Engineer in Montana,\nIdaho, Nevada and New Mexico. He has operating and engineering experience in\nthe mining industry in Montana. He was the site manager on...