2010-03-29 04:06 ET - News Release
Mr. R. Bruce Duncan reports
BOLERO COMMENCES WORK PROGRAM ON RED CHRIS PROSPECT CONTIGUOUS TO IMPERIAL METALS
Bolero Resources Corp. has retained Terracad Geoscience Services Ltd. to initiate the planned work program on Bolero's 100-per-cent-owned Red Chris prospect contiguous with Imperial Metals Corp. This program will focus its efforts on the Eskay Creek-style mineralization, intrusion and alterations discovered in 1998 by Homestake Canada Inc.
Bolero's 100-per-cent-owned Red Chris prospect comprises 12 strategic claims with over 10,000 acres in the Red Chris area of northwestern British Columbia. The claims are contiguous with the Red Chris copper-gold property where Imperial Metals Corp. recently announced assay results of 152.5 metres grading 4.12 per cent copper and 8.83 grams per tonne gold, averaging 2 per cent copper and 3.80 grams per tonne gold over 432.5 metres. The newly acquired prospect is underlain by upper Triassic-age Stuhini volcanic and sedimentary formations that are the principal host rocks of the Red Chris deposit. The property border is only 5.5 kilometres southwest of the Red Chris east zone discovery.
Bolero Resources' president and chief executive officer, R. Bruce Duncan, stated: "This is a very exciting time for Bolero Resources, with multiple active projects now under way. We are pleased to be moving forward quickly with the planned work program on this prospect bordering Imperial Metals' still evolving, possibly world-class, Red Chris exploration property."
Initial program
The initial work will comprise of property reconnaissance and permitting followed by fieldwork when conditions are suitable. A temporary camp will be required and work will include prospecting, geological reconnaissance, grid preparation, geochemical soil sampling and/or MMI (mobile metal ion) soil sampling, magnetometre survey, possibly a VLF-EM survey, and rock chip sampling of any mineral zones. Upon completion of the initial program and evaluation of results, it may be possible to proceed to more detailed property work including drilling.
Historic work on the property
Work in 1998 in the area of the newly acquired tenures by Homestake Canada Inc., including geological mapping and geochemical sampling, outlined stratigraphy prospective for Eskay Creek-style mineralization. Nearby intrusions have alteration and other characteristics similar to those observed at the Red Chris deposit (reference: ARIS No. 25767).
Erik Ostensoe, PGeo, 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. |