Bolt Metals Acquires Northwind Property in the Urban-Barry Gold Camp, 15 km from the Windfall Deposit
Bolt Metals Acquires Northwind Property in the Urban-Barry Gold Camp,
15 km from the Windfall Deposit
Vancouver, British Columbia – December 4, 2024 – Bolt Metals Corp. (“Bolt” or
the “Company”) (TSXV: BOLT) (OTCQB: PCRCF) (FSE: A3D8AK), a North American mineral
acquisition and exploration company, is pleased to announce that the Company has executed an
option (the “Option” or “Option Agreement”) with arms-length vendors (the “Optionor”) for the right
to purchase an undivided 100% interest in the Northwind property (“Northwind” or the “Property”,
Fig. 1).
Northwind Property highlights:
- Fifty-three (53) claims covering ~3,000 ha of ground in the marginal zone of the Urban-
Barry greenstone belt of the Abitibi geological subprovince of Quebec;
- Strategically located proximal to numerous showings and several regionally significant
discoveries, including the Windfall gold deposit, which hosts 7.39 Moz across all
categories, and is situated only 15 km from the Northwind claims; and
- Multiple drill-ready exploration targets developed through outcrop trenching and
geophysics with no previous diamond drilling and minimal historic work on the property.
Figure 1: Regional claim ownership of the Urban-Barry greenstone belt; 1: Osisko June 7, 2022 MRE (PLR
Resources Inc. and BBA Inc., 2022); 2: Bonterra July 30, 2021 MRE (SLR Consulting, 2021); 3: Non-NI-
43-101 compliant and historic resource estimate (Oasis Resources, 1985)
“We are thrilled to add the Northwind claims to our land holdings portfolio and establish Bolt’s
presence in the Urban-Barry mining camp of the Abitibi province in Quebec”, stated CEO Brandon
Haynes.
Mr. Haynes continued, “The recent consolidation of the Windfall claims by Gold Fields, one of the
world’s largest gold mining firms, sets the stage for a very exciting time to be exploring claims that
did not receive the historic attention that they deserved. We are confident that by applying modern
exploration techniques to these claims, it won’t be long before we are announcing the next major
discovery in the Urban-Barry camp.”
The Northwind property comprises a package of 53 claims, covering ~3,000 ha of ground, in the
marginal zone of the Urban-Barry greenstone belt of the Abitibi geological subprovince of Quebec.
The claims are strategically located proximal to numerous showings and several regionally
significant discoveries, including the Windfall gold deposit, which hosts 7.39 Moz across all
categories, and is situated only 15 km from the Northwind claims. Recently, Gold Fields Limited
announced the acquisition of Osisko Mining (Gold Fields News Release, October 28, 2024), which
represents an important step in the consolidation of the Urban-Barry mining camp. (Fig. 1).
The bedrock geology of the Northwind claims is dominated by east-west striking packages of
diorite, pegmatitic granite and gneissic tonalite, with a lesser portion of basalt mapped in the
northeast quadrant. The claims are bound to the south by a volcano-sedimentary terrane that
hosts several notable gold deposits (Windfall, Gladiator, Barry, Fig. 1). T o the northeast of the
claim group, the Laberge Cu-Ni-PGM occurrence is hosted within the ultramafic rocks that were
intruded into the gneisses and diorites (Fig. 2).
Minimal work has been conducted on the Northwind claims and no historic mineral exploration
work is documented prior to 1984. In 1984, a provincial input-electromagnetic survey highlighted
several conductive areas, that were followed up shortly after by No randa, who conducted
trenching in the areas outlined in the survey but never investigated the source of the anomalies
in the subsurface.
Figure 2: Local geology and claim magnetics of the Northwind property. Geology after SIGEOM, 2024;
Magnetic data and targets 1-6 from (Dube, 2018).
More recently, modern exploration techniques have been applied to the claims and continue to
progress targets for further mineral exploration (Fig. 2). A heliborne geophysical survey in 2017
outlined six (6) areas of overlapping magnetic highs and TDEM anomalies that are interpreted as
being likely to host economic mineralization. In 2019 ground-based total field magnetics and very
low frequency electromagnetics were used to better outline these areas in the subsurface and
help refine targets for follow-up work with diamond drilling. Prospecting and trenching in 2020
discovered up to 5 subparallel silicified shear zones in an enclave of basalt that is hosted in the
northeast portion of the claim package, proximal to the Laberge Cu-Ni-PGM showing.
Terms of the Agreement
Pursuant to the Option Agreement, the Company may acquire a 100% interest in the Property by
issuing to the Optionor 7 million shares on closing, making cash payments to the Optionor of
CAD$50,000 on the 6, 12, 18 and 24 month anniversar y of closing and reserving a 3% Net
Smelter Returns Royalty in favour of the Optionor. Additionally, the Company must incur a
minimum of CAD$3,000,000 in exploration expenditures prior to the second anniversary of closing
including a firm commitment of CAD$100,000 within 6-months of closing which may at the option
of the Company be paid in cash to the Optionor.
Qualified Person
James Macdonald, P . Geo., an independent Qualified Person as defined by the National
Instrument 43-101, and member of the Engineers and Geoscientists of Manitoba, has reviewed
and approved the technical contents of this news release.
About Bolt Metals Corp.
Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on
the development of quality precious and base metal properties that are drill-ready with high-upside
and expansion potential. Based in Vancouver, BC, Bolt’s portfolio of strategic properties provides
target-rich diversification and also include Soap Gulch, a copper SEDEX project in Montana, and
Switchback, a copper-silver project located in British Columbia. Bolt trades on the CSE Exchange
under the symbol BOLT , the OTCQB Exchange under the symbol PCRFC and in Germany under
the WKN A3D8AK.
Bolt Metals Corp.
Branden Haynes – Director and CEO
(604) 817-1595
Reader Advisory
This news release may contain statements which constitute “forward-looking information”. The
words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”,
“estimate”, “expect”, and similar expressions, are intended to identify such forward -looking
statements. Such statements include, without limitation, statements regarding the recent
consolidation of claims by Gold Fields, setting the stage for a very exciting time, confidence that
by applying modern exploration techniques to these claims, it won’t be long before announcing
the next major discovery, anomalies that are interpreted as being likely to host economic
mineralization, and refining targets for follow-up work with diamond drilling . Investors are
cautioned that any such forward-looking statements are not guarantees of future business
activities and involve risks and uncertainties, and that the Company’s future business activities
may differ materially from those in the forward-looking statements. There can be no assurances
that such information will prove accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. The Company does not assume any obligation to update any
forward-looking information except as required under the applicable securities laws.
The Canadian Securities Exchange has not approved or disapproved this news release.