POSITIVE ASSAYS CONFIRM RARE EARTH ELEMENTS IN SOIL GRIDS
Suite 1220 - 789 West Pender Street, Vancouver, BC, V6C 1H2
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Investor Relations: 1(888) 818-1365
Email: info@boleroresources.com
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FOR IMMEDIATE RELEASE
POSITIVE ASSAYS CONFIRM RARE EARTH ELEMENTS IN SOIL GRIDS
July 20th, 2010, Vancouver, BC, Canada - Bolero Resources Corp. (the "Company"
or "Bolero"), (TSX-V: BRU), (FRANKFURT: U7N1) announces that it has received
initial assays from silt and soil samples taken from the 100% owned "Carbonatite
Syndicate" Rare Earth Element claim group located 80 km north east of Prince
George, BC.
http://www.boleroresources.com/docs/carbonatite_syndicate_claims.pdf
Soil and silt sampling on Bolero's "Carbonatite Syndicate" claim group has been
effective at generating significant local and regional Rare Earth Element
("REE") geochemical targets worthy of prompt follow up. In total, data from
152 silt and 181 soil samples have been returned from ALS Global Labs.
Geological mapping, prospecting, and scintillometer surveys are being carried
out in conjunction with silt and soil sampling to build a framework for defining
additional prospective areas and for understanding geochemical anomalies in this
underexplored region.
To date, four soil grids have been completed, two tight grids (using 25 meter
line spacing, 25 meter sample spacing) were placed to assess geophysical
anomalies while the two larger grids (300 meter line spacing, 100 meter sample
spacing & 200 meter line spacing, 50 meter sample spacing) were placed to assess
regional trends. Numerous soil samples from the tight soil grids show "REE"
enrichment with elevated pathfinder elements and both grids will be
substantially expanded based on these results. Assays are pending on selected
soil samples from the wider spaced grids.
Concentrations for Cerium (Ce) and Lanthanum (La) ran up to up to 631 ppm and
377 ppm respectively, with 20 samples showing total Rare Earth contents above
1000 ppm. Pathfinder elements such as Niobium (Nb) and Barium (Ba) also show
distinct elevated concentrations against background, proving their applicability
for local exploration. Results from select silt and soil samples from the larger
grid are pending.
Several targets have been identified from the regional silt sampling. In
particular, total "REE" values from silts are elevated in the region where the
tight soil grids were carried out, further prioritizing this area for additional
work. The NE flank of the main ridge, along which carbonatite and alkaline
intrusive related mineralization is known to occur intermittently over a 6 km
strike length, also shows elevated pathfinder elements and "REEs".
In addition to these two high priority targets, the headwaters of Captain Creek
at the southern end of the claim group also show elevated values of indicator
elements, including Niobium (Nb). Two Ba-Mo±U±Zn anomalies exist within the
MINA claim grouping and at the SE base of Mt. Beauregard in the CarboWest7
claim. These areas will be further investigated to determine if significant
"REE" mineralization is present.
The company is still awaiting results from its ongoing sampling program and will
continue to define further targets for its upcoming drill program.
Bolero Resources' President and CEO, R. Bruce Duncan, stated "We are pleased to
have confirmed the presence of Rare Earth Elements on the Carbonatite Syndicate
Claim group and eagerly await additional assay results. Â Bolero will continue to
focus on these areas as we compile multiple high priority targets for an
upcoming drill program. As stated in previous news, work has now commenced on
our "Red Chris South" prospect, contiguous to Imperial Metals Corporation's (III
- TSX) Red Chris" Copper/Gold discovery where recently, they announced a drill
hole intercept of 528.7 metres grading 1.97 g/ton gold and 1.13% copper. "
(Imperial Metals news release, April 12(th) 2010)
David Turner, M.Sc., P.Geo., is the "qualified person" (as such term is defined
by NI 43-101) responsible for the preparation of the technical information in
this release.
About Rare Earth Elements ("REEs")
Jim Dines on Rare Earth: http://www.infostockbiz.com/jamescropped.mp3
Cerium (Ce) - Commercial applications of cerium are numerous. They include
catalysts, additives to fuel to reduce emissions and to glass and enamels to
change their color. Cerium oxide is an important component of glass polishing
powders and phosphors used in TV screens and fluorescent lamps.
Lanthanum (La) - Lanthanum compounds have numerous applications as catalysts,
additives in glass, carbon lighting for studio lighting and projection. As most
hybrid cars use nickel-metal hydride batteries, massive quantities of lanthanum
are required for the production of hybrid automobiles. A typical hybrid
automobile battery for a Toyota Prius requires 10 to 15Â kg (22-33Â lb) of
lanthanum. As engineers push the technology to increase fuel mileage, twice that
amount of lanthanum could be required per vehicle.
Niobium (Nb) - Niobium is used mostly in alloys, the largest part in special
steel such as that used in gas pipelines. Although alloys contain only a maximum
of 0.1%, that small percentage of niobium improves the strength of the steel.
The temperature stability of niobium-containing superalloys is important for its
use in jet and rocket engines. Niobium is used in various superconducting
materials. These superconducting alloys, also containing titanium and tin, are
widely used in the superconducting magnets of MRI scanners. Other applications
of niobium include its use in welding, nuclear industries, electronics, optics,
numismatics and jewelry.
Barium (Ba) - Barium compounds are used by the oil and gas industries to make
drilling mud. Drilling mud simplifies drilling through rocks by lubricating the
drill. Barium compounds are also used to make paint, bricks, tiles, glass, and
rubber. Barium titanate was proposed in 2007 to be used in next generation
battery technology for electric cars.
*Information Source: http://en.wikipedia.org/wiki/Rare_earth_element
About Bolero Resources Corp.
Bolero Resources Corp. is a Canada-based Molybdenum, Rare Earth, and Gold
exploration and development company. Our primary assets include: 100% interest
in the Cannivan Gulch Molybdenum property located in Montana, USA; A 100%
interest in twelve strategic claims in the Red Chris area of north-western BC,
contiguous to Imperial Metals Corp (III.T); 100% interest in 57 mineral claims
prospective for Rare Earth's covering approximately 56,000 acres, contiguous to
Spectrum Mining Corporation in Northern BC, and 11 mining claims of which
approximately 2,653 hectares are directly tied on to the northwest, and 1,930
hectares are tied directly east of Barkerville Gold Mines (BGM.V) in
Barkerville, BC. The Company is listed on the TSX-Venture Exchange under the
symbol BRU, as well as the Frankfurt Exchange under U7N1. For more information,
please visit www.boleroresources.com
On behalf of the Board of Directors
"R. Bruce Duncan"
President & CEO
Toll Free Investor Inquiries 1 (888) 818-1365
E-mail inquiries: info@boleroresources.com
"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
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