VANCOUVER, Oct. 17 /CNW Telbec/ - Bolero Resources Corp. (the "Company" or "Bolero"), (TSX-V: BRU) is pleased to announce the analytical results for the first four diamond drill holes of the 2007 exploration program at the Company's Bald Butte molybdenum project in Montana. All holes were designed to test the continuity and limits of mineralization defined in the NI 43-101 compliant report dated December 12, 2006 which has been filed on Sedar. This data will confirm the confidence that Bolero has in the resource. Upon completion of the present drill program, the Company will calculate an updated NI 43-101 compliant resource which is scheduled for completion by the end of the first quarter 2008.
The attached table shows the significant intercepts resulting from holes BB07-1, BB07-2, BB07-5, and BB07-10. We have used a 0.04% Mo cut-off for the significant intercepts and have therefore only listed those intercepts that are at least 20 feet in thickness and have grades of 0.04% Mo or greater.
SIGNIFICANT INTERCEPTS, CORE HOLES BB07-1, 2, 5, AND
10, BALD BUTTE MOLYBDENUM PROJECT, LEWIS AND CLARK COUNTY,
MONTANA UNITED BOLERO DEVELOPMENT CORP., OCTOBER 7, 2007
Hole From To Intercept Avg Mo%
Number Feet Feet Thickness
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BB07-1 188 238 50 0.040
238 268 30 0.072
268 298 30 0.123
298 408 110 0.048
578 598 20 0.041
778 798 20 0.176
BB07-2 30 150 120 0.060
150 170 20 0.140
170 200 30 0.044
200 230 30 0.090
230 310 80 0.045
310 360 50 0.064
360 470 110 0.106
BB07-5 160 189.3 29.3 0.045
189.3 240 50.7 0.064
260 370 110 0.068
370 400 30 0.104
400 509.2 109.2 0.085
509.2 530 20.8 0.122
530 629.5 99.5 0.072
629.5 670 40.5 0.047
690 720 30 0.077
BB07-10 229 299 70 0.049
349 389 40 0.045
389 409 20 0.088
479 499 20 0.046
529 559 30 0.048
559 579 20 0.060
749 779 30 0.042
The inclination of the four holes and their total depths are as follows:
Hole Number Inclination Total Depth (feet)
BB07-1 -70 (degrees) 1,398
BB07-2 -90 (degrees) 469.5
BB07-5 -90 (degrees) 1,400
BB07-10 -90 (degrees) 799
Three of the four new holes were drilled to the depths planned but hole BB07-2, which we had planned to drill to a depth of 1,000 feet, encountered a broken zone that forced abandonment of the hole at a depth of 470 feet. The last 110 feet of hole BB07-2 averaged 0.106% Mo. We plan to drill another hole in the immediate area of BB07-2 in the hope of testing the projection of this high-grade zone to depth.
These first four holes have established continuity of the upper (main) zone of mineralization as projected in our preliminary modeling and have better defined the limits of a deeper zone in the northeastern portion of the mineralization which may represent a structurally controlled feeder zone. The best intercepts in these holes occur in strongly altered Proterozoic Helena Formation at the contact with the Bald Butte quartz monzonite stock of Eocene age.
We are especially pleased with the results in the upper portion of hole BB07-2 where our preliminary projections suggested that ore-grade mineralization would only start at a depth of approximately 210 feet below surface. In fact, this hole encountered a zone averaging 0.06% Mo starting just 30 feet below surface. As shown in the attached table, hole BB07-2 encountered ore-grade material from 30 feet to its termination at 470 feet. The Company will be updating the shareholders with more drill results in the weeks ahead.
John Childs, Ph.D., Registered Geo (AZ) is the "qualified person" (as such term is defined by NI 43-101) responsible for the preparation of the technical information in this release.
Bolero Resources Corp. is a well funded exploration and development Company which holds 100% interests in 2 significant molybdenum properties located in Montana, USA. The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the Frankfurt Exchange under U7N. For more information, please visit www.unitedbolero.com or call toll-free 888-945-4770.
On behalf of the Board of Directors
"R. Bruce Duncan"
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.