Bolero Assays Over 27,000 PPM 'Tree' From Northern BC Rare Earth Element Prospect
VANCOUVER, BC -- (Marketwire) -- 01/31/11 --
Suite 1220 - 789 West Pender Street, Vancouver, BC, V6C 1H2
Phone: (604) 683-3995 Fax: (604) 683-3988
Investor Relations: 1(888) 818-1365
Email: info@boleroresources.com
January 31(st), 2011, Vancouver, BC, Canada - Bolero Resources Corp.
(the
'Company' or 'Bolero'), (TSX-V: BRU), (FRANKFURT: U7N1) announces
it has
received 584 additional assay results from silt and soil samples taken
from the
'Carbonatite Syndicate' Rare Earth Element prospect in the 'Carbo'
area of
northern BC. All assays have undergone analysis by method MEMS81 for
robust
dissolution and full 'REE' and pathfinder element characterization.
All
sampling was conducted by Mackevoy Geosciences Ltd. under supervision of
David
Turner, M.Sc., P.Geo., who stated, 'These results confirm the
presence of
strongly anomalous 'REEs' in the soil area of the 911 grid located in
the NE
Corner of Bolero's tenure, in close proximity (approximately 750
metres), to
Canadian International Minerals (CIN - TSX.V) 2010 drilling campaign
and
Spectrum Mining's significant 'REE' discovery that returned significant
grades
including a 48.64 metre interval which averaged 3.55% rare earth
elements, a
72.0 metre interval that averaged 2.92% REE, and a 144 metre interval
which
averaged 2.20% REE in three separate drill holes.'
Map Link:
http://www.boleroresources.com/docs/carbonatite_syndicate_claims_201101.pdf
These new soil assays from the NE corner of Bolero's claim block, have
increased
concentrations of Cerium (Ce) and Lanthanum (La) to over 10,000 ppm,
surpassing
the analytical maximum of the assay method and far exceeding previous
numbers of
up to 1,205 ppm (Ce) and 663 ppm (La). Maximum levels of Praseodymium (Pr)
also
returned over 1,000 ppm from soil samples, further confirming the
presence of
significant levels of Rare Earth Elements on Bolero's property. Niobium
(Nb)
values were also elevated in soil samples with concentrations up to 465
ppm.
Bolero will be commencing a 2011 drill program on the property,
following the
correlation of airborne data with these positive soil samples and existing
field
radiometric anomalies to establish priority Rare Earth Element drill
targets on
the property. With drill permits now in place, Bolero anticipates a multi
hole
drill program on up to 3 separate drill sites to commence in 2011.
Bolero Resources' President and CEO, R. Bruce Duncan, stated 'We are
encouraged
by the substantial increase in Rare Earth Element values from our most
recent
sampling and look forward to the upcoming 2011 drill programs now
being
planned. Bolero currently has approximately $3,700,000 in cash and
anticipates
a robust 2011 drill season for all 3 of Bolero's primary projects: The
'Red
Chris South' (Copper/Gold), The 'Carbonatite Syndicate' (Rare Earth
Element),
and the 'White Gold' Yukon.'
About the Carbonatite Syndicate
The 'Carbonatite Syndicate' Rare Earth prospect consists of 211 mineral
claims
covering approximately 222,415 acres and is accessible by all weather
gravel
roads. It is located approximately 80km north east of Prince George,
along the
trace of the Rocky Mountain Trench, in the 'Carbo' area of northern
British
Columbia. The property is contiguous to and surrounding, Canadian
International
Minerals (CIN - TSX.V) 'Carbo' property and Spectrum Mining's 'Wicheeda'
Rare
Earth Element discovery that recently returned significant grades
including a
48.64 metre interval which averaged 3.55% rare earth elements, a 72.0
metre
interval that averaged 2.92% REE, and a 144 metre interval which averaged
2.20%
REE in three separate drill holes. (2008 Aris
Report)
(http://aris.empr.gov.bc.ca/ArisReports/30873.PDF)
Mr. David Turner, M.Sc., P.Geo., an independent Qualified Person (as such
term
is defined by NI 43-101) is responsible for the preparation of the
technical
information in this release.
About Bolero Resources Corp.
Bolero Resources Corp. is a Canadian Gold and Rare Earth exploration and
development company. Our primary assets include: 100% interest in the Red
Chris
South prospect, covering over 13,000 acres in north-western BC, contiguous
to
Imperial Metals Corp (III.T) and; The 'Carbonatite Syndicate' consisting of
211
mineral claims prospective for Rare Earth Elements covering over 90,000
hectares
(222,415 acres) contiguous to Spectrum Mining Corporation in northern BC
and; 2
separate quartz claim blocks covering over 6,500 acres, in the 'White Gold
District' of the Yukon. The Company is listed on the TSX-Venture Exchange
under
the symbol BRU, the Pink Sheets under the symbol BRUZF, as well as the
Frankfurt
Exchange under U7N1. For more information, please visit:
www.boleroresources.com
or contact Investor Relations Toll Free.
On behalf of the Board of Directors
'R. Bruce Duncan'
President & CEO
'Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.'
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Bolero Resources Corp. via Thomson Reuters ONE
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