Nope.

Especially in mp3 format.

You need the master recordings. Good luck gettin hold of them..!

Did you mean Bass or just any "track" of the recording ?

If theres a bit of the recording with JUST the bit you wanna cut out, with nothing else playing, then you can, and then you make it into a loop, SO that part repeats, Use cool edit pro, cubase,whatever to do that. You can turn 1 8 second bar of a bassline, into a repeating bassline as many times as you like, could last 3 hours if you got the disk space.