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Acquisition of Jackfish Lake Gold, Silver, Copper Nickel Property Thunder Bay Mining Division, ON | Northern BC Business
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Acquisition of Jackfish Lake Gold, Silver, Copper Nickel Property Thunder Bay Mining Division, ON

November 29, 2010
Acquisition of Jackfish Lake Gold, Silver, Copper Nickel Property Thunder Bay Mining Division, ON


Bard Ventures Ltd. (“Bard” or the “Company“) has entered into an option agreement to acquire a 100% interest in the Jackfish Lake claims (the “Property“), which are located in Syine Township within the Thunder Bay Mining Division. The three mineral claims comprising the Property cover an area of approximately 469 hectares located 20 kilometres east of Terrace Bay, Ontario.

The Jackfish Lake properties consist of three separate claims centered on Jackfish Bay located along the north shore of Lake Superior and are road accessible. The Property straddles a 4 kilometre long strike of the easternmost Terrace Bay batholith/mafic volcanic contact. This contact has numerous gold showings associated with it, the most notable being the Empress Gold Mine, a former producer, discovered in 1895. Other past producing mines exist on the western end of the batholith/volcanic contact near the town of Schreiber. Gold showings lie within both the felsic granitic stock and the bounding volcanic stratigraphy.

West Claim

The west claim is located on the southwest side of Jackfish Lake within the margin of the Terrace Bay batholith. The claim is located to cover the upper drainage of a small creek where a stream sediment sample at its mouth along the west side of Jackfish Lake returned a highly anomalous gold result of 8.8 grams per ton (“g/t”). Approximately 400 metres to the southwest of this drainage is a 900 metre long northwest trending AEM anomaly. The granites underlying the claim are strongly carbonatized and altered.

East Claim

The east claim covers an interval of intermediate to felsic volcanics which contain several chert rich horizons locally hosting massive pyrite mineralization. The Santoy Mountain occurrence is located within the claim where anomalous copper-nickel mineralization is said to be closely associated with one of several chert rich horizons. A rock grab sample collected from the general area of the occurrence returned 68.6 g/t silver.

South Claim

The south claim covers a portion of the Terrace Bay batholith contact and volcanic stratigraphy to the south. The claim is located to the east of a historical gold occurrence from the turn of the century and covers another gold occurrence in the southeastern portion of the claim. A total of four east-west trending AEM anomalies are located in the southern portion of the claim, two of which bound the historical gold occurrence.

The Property is considered underexplored with potential for hosting either a lode gold or VMS style deposit. The company plans to complete a compilation program of the available historical data, the results of which will determine the scope of a 2011 field program to include prospecting, mapping and geophysical surveys if warranted. Drill target selection will be based on the combined results of the compilation program and results from the 2011 field program.
In terms of the agreement, Bard has to incur the following to earn a 100% interest in the Property, subject to a 2% Net Smelter Return Royalty in favour of the vendors and a 1% Net Smelter Return Royalty in favour of the Ontario Exploration Corporation (OEC).

All future Exploration work on the Property will be conducted under the supervision of Qualified Person Rick Kemp, P. Geo., Vice-President, Exploration of Bard.

On behalf of:

Bard Ventures Ltd.
“Eugene Beukman”
Eugene Beukman, President

For further information please visit our website at www.bardventures.com

OR CONTACT

Robert Mullins
Tel: 416-742-5600
Toll Free: 1-866-580-8891
www.firstcanadiancapital.com


This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

Article source: http://www.bardventures.com/s/NewsReleases.asp?ReportID=431106

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