Bold Ventures Applauds Government Critical Minerals Strategy and Provides Project Update
BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
NEWS RELEASE - For Immediate Release
Bold Ventures Applauds Government Critical
Minerals Strategy and Provides Project Update
TORONTO, ON / ACCESSWIRE / May 10, 2022 / Bold Ventures Inc.
(TSX.V:BOL) (the “Company” or “Bold”) wishes to congratulate the
Ontario Government on its Critical Minerals Strategy for the
electrification of Ontario power consumption. Combined with the
Government of Canada’s 2022 budget announced on April 7,
incorporating a number of industry recommendations, both levels of
government aim to bolster mineral production, Indigenous community
engagement and infrastructure development.
Bold is very pleased to be in lock-step with these initiatives through the
exploration of our mineral assets located within Ontario, one of the top
ranked mining jurisdictions worldwide. The Critical Metals list and a
description of the Provincial and Federal electrification plans are posted
on the Bold website here.
Bold Ventures management believe 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).
Our exploration projects are well described in the projects section
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
and in the updated version of the Company’s Corporate
Presentation at boldventuresinc.com.
We are pleased to provide updates on the following projects:
Ring of Fire - Ni, Cu, Au, Ag, Pt, Pd, Cr
The Company reports that a subsidiary of Wyloo Metals Pty Ltd. of
Australia (Wyloo), has recently completed the acquisition of Noront
Resources Ltd. (Noront). Bold’s Koper Lake Project is within 300 m of the
Noront flagship, Eagle’s Nest Nickel-Copper massive sulphide deposit,
currently in the permit stage. This highlights Bold’s valuable exposure
close to the main asset at the center of the Wyloo acquisition. See our
Ring of Fire Project Details and maps here.
KWG Resources Inc. (KWG), Bold’s joint venture partner at the Koper
Lake Project in the Ring of Fire has announced support for its patented
gas reduction patent technology by Natural Resources Canada's Canmet
Mining Division (Canmet). As part of Canada's recently announced
Critical Minerals Strategy, Canmet has committed to funding, for a further
2-years, a research program to prepare for scaling-up the direct
reduction process in advance of piloting for commercialization. The
entire Chromite R&D Initiative Research Report is being translated for
filing on the website of the Geological Survey of Canada (see KWG news
release dated May 2, 2022).
Bold has already earned a 10% carried interest in the Koper Lake
chromite deposit named the Black Horse. Located contiguous with
Wyloo’s Blackbird Chromite Resource, KWG Resources Inc., the Operator
of the Koper Lake chromite exploration program, has published a NI 43-
101 Black Horse Inferred Chromite Resource of 85.9 million tonnes @
34.5% Cr2O3 (KWG Website 2022). Should KWG acquire, through Bold,
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
the remaining 50% interest in this resource, Bold will retain up to a 20%
carried interest in any chromite resources found within the claims.
Concurrently, Bold has earned a 40% working interest in “all other
metals” found within the Koper Lake claims. Upon KWG satisfying the
terms of the optional earn-in up to 100% through Bold, the Company will
retain up to an 80% working interest in “all other metals” located within
the claims. Bold is the Operator of the “all other metals” exploration
work. The full terms of the Koper Lake Option agreements and
ownership details can be accessed here. It should be noted that Bold also
has a Right of First Refusal on a 1% Net Smelter Royalty (NSR) covering
all minerals found within the Koper Lake claims.
Burchell Gold-Copper Project (Burchell) - Cu, Zn, Au, Ag, Mo
Bold’s technical team has begun a review and compilation of the
historical work performed within the newly optioned Burchell claim
group in the heart of the Shebandowan Greenstone Belt (see Bold news
release dated March 16, 2022). Current exploration activity in the
immediate surrounding area includes ongoing diamond drilling by
Goldshore Resources (current 100,000 m program) and Kesselrun
Resources. After spring break-up, the Company plans a property-wide
prospecting program. In 2006 an airborne electromagnetic survey
(VTEM) was carried out over the western portion of the property and in
2019 an airborne magnetic survey was completed covering the entire
property. Historical trenching, geochemical sampling, diamond drilling
and geophysical surveys provide an excellent database to support the
first phase of work by Bold’s technical team.
Farwell Gold-Copper Project (Farwell) Cu, Zn, Pb, Au, Ag
At Farwell, the Company has retained Dr. James Mungall Ph.D., P. Eng. to
provide interpretation and recommend drill targeting of various
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
anomalies located through the recently completed VTEM survey (see
Bold news release dated March 8, 2022). Compilation of the airborne
survey data with the historical exploration work, property geology and
Bold’s prospecting and sampling programs will provide the platform for
these selections. Dr. Mungall has been part of the Bold Ventures Advisory
Board since 2010. He has worked with Bold’s current management when
they were with Noront Resources Ltd. during the Ring of Fire discoveries
between 2007-2010. A PDF version of the VTEM survey Report may be
accessed here.
Traxxin Gold Project (Traxxin) - Au
A review of the Induced polarization survey conducted in 2017 has been
completed and the interpretation will be employed in the lead up to the
next drilling program. As a result of the Fall 2021 mapping and sampling
program, additional areas of interest were located and require detailed
follow up. This is a continuation of the recommended program designed
to refine and prioritize diamond drill targets for the next phase of
drilling.
Wilcorp Gold (Wilcorp) - Au
The Company has completed prospecting, sampling and geophysical
surveys. Fourteen diamond drill holes have been recommended on the
property (see Bold news release dated November 15, 2012). In 2018 the
north boundary of the claim group expanded during the transition to the
Ontario Government’s new Mining Lands Administration System.
Summer field work will include exploration of this expanded area.
Located approximately 35 km southwest of the Traxxin Gold Project,
field crews will carry out this work in tandem with the Traxxin field
work. The Wilcorp Gold Project details may be accessed here.
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
The technical and scientific disclosures in this news release ha ve been reviewed and
approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) under National
Instrument 43-101.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold
is exploring properties located in active gold camps within the Thunder Bay
and Wawa regions of 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.
As a result of the current COVID-19 virus concerns, the Company’s management
and contractors are following public guidelines and taking recommended steps
to protect the health and safety of all personnel while carrying out oper ations.
As a result of the COVID-19 pandemic giving rise to local and national anti-virus
measures, the scheduling of activities is subject to change. COVID-19 impacts
may affect timing and availability of goods and services for the foreseeable
future.
For additional information about Bold Ventures and our projects please visit
boldventuresinc.com or contact us at 416-864-1456 or email us at
“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.
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
22 Adelaide Street West, Suite 3600 Fax: 416 865 6636
Toronto, Ontario, M5H 4E3
boldventuresinc.com
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.