United Bolero Development Corp: Bald Butte Update
Monday, July 16th, 2007
United Bolero Development Corp. is pleased to provide an update on the 5,500 metre (18,000 feet) diamond drill program currently underway at Bald Butte.
Diamond Drill Program:
Drilling is being conducted in two ten-hour shifts per day. At the end of the July 12, 2007 night shift, 670 metres (2,197 feet) of core has been drilled. Two holes have now been completed. Hole BB07-1 was drilled to a depth of 426 metres (1,398 feet) and hole BB07-10 was drilled to 243.5 (799 feet). Drilling was started on the third hol (BB07-2) on July 13, 2007.
Core Logging and Assaying:
The core is being sawed, photographed, and geologically logged at United Bolero’s core facility located in Silver City, Montana, approximately nine miles east of the Bald Butte property. One half of each sample interval is being shipped to ALS Chemex Laboratories for analysis. On July 11, 2007 the Company shipped 286 metres (938 feet) of core to ALS Chemex Laboratories in Nevada and anticipates results within the next three weeks.
Second Diamond Drill Arrives:
Based on encouraging mineralization recognized in the first two core holes, Ruen Drilling, Inc. of Clark Fork, Idaho mobilized a second core drilling rig to the Bald Butte site on Sunday July 15th. This second rig will allow the company to fast-track the planned drilling program to ensure that the entire program and possible follow-on drilling can be completed during the summer drilling season.
Previous Work on Bald Butte:
The deposit currently shows a NI 43-101 inferred resource of 105 million tons at a grade of 0.071% Molybdenum (0.12% MoS2) which was calculated using the polygonal method, containing 150 million pounds of Molybdenum, (250 million pounds of MoS2) as stated in the press releases dated December 14th, 2006, April 10th, 2007 and June 21st, 2007.