Bolero Acquires the "Charge" REE Prospect in Northern BC
03 Febrero 2011 - 7:44AM
Marketwired Canada
Bolero Resources Corp. (the "Company" or "Bolero"), (TSX VENTURE:BRU),
(FRANKFURT:U7N1) announces it has acquired a 100% interest in the "Charge" Rare
Earth Element prospect located in northern British Columba, approximately 50
kilometres southeast of the Kemess Mine operated by Northgate Minerals
Corporation (NGX - TSX). Bolero's "Charge" REE prospect currently contains the
highest Lanthanum (La) (1146 ppm), Yttrium (Y) (647 ppm), and second highest
Cerium (Ce) (1247 ppm) samples in the province of British Columbia's Regional
Geochemical Survey (BCRGS) database, with over 7000 samples recently taken from
the region.
Please visit www.boleroresources.com to view the property map.
Bolero Resources' President and CEO, R. Bruce Duncan, stated "The acquisition of
the "Charge" REE prospect significantly increases Bolero's Rare Earth Element
asset portfolio and provides shareholders with a fourth active project for the
2011 work season. We are excited to commence operations on the "Charge" REE
prospect and are greatly encouraged by the presence of British Columbia's
highest sampling values for Lanthanum, Yttrium, and the second highest values
for Cerium Rare Earth Elements, on Bolero's property. A work program is now
being planned for the "Charge" prospect to further define Rare Earth Element
values in the existing anomalous areas. Bolero currently has approximately
$3,700,000 in cash and anticipates a robust 2011 drill/work season for all of
Bolero's primary projects including: The "Red Chris South" (Copper/Gold), The
"Carbonatite Syndicate" (Rare Earth Element), the "White Gold" Yukon, and the
new "Charge" REE properties."
Bolero will issue 150,000 common shares and pay $2,500.00 CDN for a 100%
interest in the "Charge" property, subject to TSX Exchange approval.
About the "Charge" REE Prospect
The "Charge" Rare Earth Element claims are located along the British Columbia
Rare Metal Belt. They contain some of the highest Lanthanum (La), Cerium (Ce),
Terbium (Tb), Lutetium (Lu), and Samarium (Sm) results in the British Columbia
Regional Geochemistry Survey (BCRGS) database of over 53,000 samples. Highly
elevated Rubidium (Rb) and Fluorine (F) also occur at the anomalous sites.
Coincident elevated nickel, cobalt and chromium anomalies (compared to the host
sediments) suggest that this is due to Carbonatite intrusion related to
ultramafic intrusions.
A prominent, large (approximately 8 km diameter) semi-circular magnetic anomaly
is spatially associated with the "Charge" REE anomalies. Alkalic ring structures
are well known in the literature regarding the genesis of carbonatitic
intrusives. The alkaline rocks, typically syenitic to ultramafic in composition,
create distinctive rounded magnetic anomalies with a strong contrast to a weakly
magnetic, later central carbonatite core, depending on iron mineral chemistry,
and degree of alteration. A separate RGS anomaly exists to the west which also
has extremely anomalous La, Ce and Tb, adjacent to a small magnetic high. This
is potentially the faulted off west rim of the semi-circular anomaly, completing
the ring structure if restored to the east. This is quite speculative, but not
inconsistent with carbonatite occurrences worldwide, and the faulting parallel
to the Ancestral North America in the claims area.
The anomalies are hosted in within the Ingenika Group bedded sediments, between
two large fault systems, along the edge of the Foreland Belt of Ancestral North
America. The Mt. Bisson REE-bearing carbonatites, REE-fenitization, and later
REE-bearing pegmatite dykes are hosted within the same host group, to the south.
Scattered strong REE anomalies continue northward from the "Charge" REE claims,
roughly along the west-centre of the mapped Ingenika sediments, for an
additional 50 plus kilometres. The previous government mapping in the belt of
sediments is very low density, and no known work has been done in the vicinity
of this potential new REE belt.
Dr. Roger Steininger, Ph.D., CPG (AIPG), a Company Director, 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 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.
On behalf of the Board of Directors
R. Bruce Duncan, President & CEO
Brunswick Resources (TSXV:BRU)
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