Bold Ventures Inc. (TSX.V:BOL) (the ‘Company’ or ‘Bold’) wishes one and all a very Merry Christmas and Holiday season! All the best to you and yours in 2024
We are pleased to provide the following projects overview with highlights.
Farwell Battery and Precious Metals Project (Cu, Zn, Pb, Au, Ag):
Between 2019 and 2023 Bold carried out data compilation, multiple prospecting and sampling programs, a ground geophysical test survey and a modern airborne VTEM electromagnetic (EM) and magnetic (Mag) survey. Of particular note is an interpretation and comparison of the 2022 property scale VTEM EM and Mag survey with the 1987 Ontario Geological Survey (OGS) Dighem regional airborne EM and Mag survey. The results indicate that the location of the historical drilling in the Farwell Sulphide Zone (FSZ) does not compare well with the location of the modern 2022 survey anomalies within the same vicinity. The historical drill intersections at the Bibis Copper Prospect (1.5% Cu over 5.2 m) and the Burex Copper Occurrence (massive sulphides over 10.7 m); (Bennett and Thurston 1977) did not appear to adequately test the conductor locations identified in the 2022 survey. The location of the 2022 VTEM anomalies provide a more accurate basis for drill targets to test and explain the conductors that may represent copper bearing massive sulphides. Six diamond drill holes are recommended to test the various conductive anomalies. This report is available on the Bold website here.
An interpretation of the Farwell property geology and geophysics in context with the regional scale geophysics and geology indicates the presence of a Mag low anomaly, indicative of a NW- SE oriented fault system crossing the Farwell claim group. The structure appears to extend to the southeast and intersects with Wesdome Gold Mines Mishi open pit gold deposit located approximately 6 km to the southeast. Wesdome produced gold from the Mishi pit as recently as 2021. The Mag low may represent a structural conduit for the remobilization and emplacement of gold mineralization. A high resolution airborne Mag survey is planned to provide enhanced detail of the interpreted structure. The survey will have the added benefit of better locating and orienting the battery metal drill targets located proximal to the Mag low and in the vicinity of the Farwell Sulphide Zone (FSZ). A planned drill program will follow the high-resolution Mag survey.
The Traxxin Gold Project (Au):
In 2020 and 2021 Bold carried out multiple prospecting, sampling, stripping and channel sampling programs on the Traxxin Gold Property. Stripping at the north end of the Main Zone indicates that additional sub-parallel shear zones may be present.
Stripping, mapping, sampling and drilling at the south end of the Main Zone indicates lower grade gold mineralization between it and the Teardrop Zone (2.65 g/t Au over 1 m and .21 g/t over 42 m) (Sims 2019) within a more structurally complex geological setting. Additional geological and geophysical work in the southern portion of the claim group is recommended.
Bold completed four diamond drill holes in 2021 to test the Main Zone gold system at depth. The results confirmed the presence of gold mineralization in all four drill holes. Hole BV-21-04 located at the north end of the Main Zone, intersected 3.6 g/t Au over 12.3 m (including 6.13 g/t Au over 4.9 m) at a vertical depth of approximately 150 m in the deepest drill hole to date. A geophysical survey is recommended to accurately trace the gold bearing structure to the north, where it remains open, and to determine if any new sub-parallel shear zones exist. It is anticipated this would take place just before the next drill program.
The Burchell Battery and Precious Metals Project (Cu, Zn, Ni, Au, Ag, Mo):
In 2006 a VTEM airborne electromagnetic (EM) and magnetic (Mag) survey was carried out over the western portion of the Burchell claim group. In 2017 a NI 43-101 property report was completed (NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario Thunder Bay Mining District NTS Sheet 52B/10SE, Prepared by Ike A. Osmani, M.Sc., P.Geo.). A recent interpretation and comparison of the 2006 VTEM survey with an historical Aerodat regional airborne EM and Mag survey (OGS 1991), has indicated that a VTEM survey covering the east side of the claim group is recommended. This survey will provide the most up to date geophysical data upon which to base subsequent exploration work.
A prospecting and sampling program was carried out in September of this year (2023). A bedrock grab sample collected within a magnetic-high area along the main access road in the south-central portion of the property, returned 0.11% Cu and 0.15% Ni. A number of samples are pending receipt. Several locations were recommended for potential stripping and sampling. This work also provided valuable knowledge concerning the property geology.
Koper Lake Project in the Ring of Fire
In September of 2022 Bold’s JV partner at the Koper Lake Project, Canada Chrome Corporation, acquired a 50% interest in the Koper Lake claim group from Fancamp Exploration for $34.5M via a secured convertible promissory note in the principal amount of C$34.5 million (for complete terms of the transaction see KWG press release dated September 1, 2022).
Bold has vested a 10% carried interest (to production) in the Black Horse Chromite NI 43-101 Inferred resource of 85.9 M tonnes of 34.5% Cr2O3 at a cutoff grade of 20% (KWG Website 2023). Bold also has a 40% working interest in all other metals found within the claims. Bold also has a Right of First Refusal on a 1% Net Smelter Return Royalty covering all metals produced from the property
The Ring of Fire access and infrastructure development continues within the environmental permitting process. The two closest First Nations are acting as proponents for the all-weather access and supply roads. Information about Bold’s Ring of Fire projects, the Ring of Fire infrastructure development and various critical mineral articles can be accessed on the Bold Critical and Battery Minerals page.
The technical and scientific disclosures in this news release have been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National Instrument 43-101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr).
About Bold Ventures Inc.
The Company explores for Battery, Critical and Precious Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa areas of northwestern Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
‘David B Graham’
David Graham
President and 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.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
SOURCE:Bold Ventures Inc.
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