Bolero acquires property adjoining Imperial Metals Corp. in Red Chris, BC
Imperial Metals Corp. on
"Drill hole RC09-350 previously reported the highest grade intercepted at Red Chris to date (NR Nov 09/09: RC09-350 returned 152.5 metres grading 4.12% copper and 8.83 g/t gold starting at a depth of 540.0 metres). The higher grade material extends to 962.5 metres and averages 2.00% copper and 3.80 g/t gold over 432.5 metres. With all intervals assayed, drill hole RC09-349 intercepted 625.3 metres of 0.82% copper and 0.93 g/t gold starting at 390.0 metres depth.")
The significant intervals encountered in holes RC09-349 and RC09-350 of Red
------------------------------------------------------------------------- Inter- Inter- Inter- Total val val val Drill Zone Length from To Length Copper Gold Silver Hole No. (m) (m) (m) (m) % g/t g/t ------------------------------------------------------------------------- RC09-349 East 1150.6 390.0 1015.3 625.3 0.82 0.93 1.11 ------------------------------------------------------------------------- 545.0 582.5 37.5 1.51 1.89 1.54 ------------------------------------------------------------------------- *866.6 919.9 53.3 1.83 2.62 2.60 ------------------------------------------------------------------------- RC09-350 East 1477.4 420.0 1067.5 647.5 1.50 2.68 3.22 ------------------------------------------------------------------------- 530.0 962.5 432.5 2.00 3.80 4.42 ------------------------------------------------------------------------- *540.0 692.5 152.5 4.12 8.83 10.46 ------------------------------------------------------------------------- 692.5 962.5 270.0 0.83 1.02 1.12 -------------------------------------------------------------------------
There is no assurance that similar mineralization will be discovered on the Bolero property.
Historic Work on the Property
"Work in 1998 in the area of the newly acquired tenures by Homestake
The acquisition agreement gives Bolero a 4417.02 hectare property package immediately adjacent to the southwest side of the Red Chris property. The newly acquired tenures are underlain by Upper Triassic age Stuhini volcanic and sedimentary formations that are the principal host rocks of the Red Chris deposit. Property border is approximately 5.5 km southwest of the Red
The terms of the agreement are: cash payment of
The Company is very excited by this opportunity to acquire a sizeable land position adjacent to Imperial Metals' still evolving, possibly world class, Red Chris exploration property.
Erik Ostensoe, P. Geo., the Company's Independent Qualified Person as defined by National Instrument 43-101, has reviewed and accepts responsibility for technical information contained in this news release.
This transaction is subject to acceptance by the TSX Venture Exchange.
Bolero Resources Corp. is a Canada-based molybdenum mineral development and exploration company. Our primary assets are 100% interests in two significant molybdenum properties located in Montana, USA, which are the Bald Butte and Cannivan Gulch properties. The Company is listed on the TSX-Venture Exchange under the symbol BRU, as well as the
On behalf of the Board of Directors "R. Bruce Duncan" President & CEO http://files.newswire.ca/357/claims.pdf http://files.newswire.ca/357/package_no_1.pdf http://files.newswire.ca/357/package_no_2.pdf
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For further information: Bruce Duncan, President & CEO, (604) 683-3995, Fax: (604) 683-3988, [email protected], www.boleroresources.ca
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