Bold Ventures Completes Airborne Survey at Farwell Gold-Copper Project
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
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NEWS RELEASE - For Immediate Release
Bold Ventures Completes Airborne Survey
at Farwell Gold-Copper Project
Toronto, Ontario, February 3, 2021 – Bold Ventures Inc. (BOL: TSX.V)
(the “Company” or “Bold”) is pleased to report that an airborne Vertical
Loop Time Domain Electromagnetic and Magnetic survey (VTEM Plus)
carried out by Geotech Ltd. of Aurora, Ontario has been completed at the
Farwell Gold-Copper Project located 55 km northwest of Wawa, Ontario.
A total of 556 line-kms were flown at 200 m line spacing to cover the
entire claim group. This is the first large scale airborne survey completed
over the Farwell Property since a 1987 MAG-EM survey flown by the
Ontario Geological Survey, which was part of a much larger area covering
the Michipicoten and Mishibishu Greenstone Belts. Current
advancements in digital technology provide greater accuracy with Global
Positioning Systems (GPS) location, increased depth penetration and
enhanced target resolution compared to historical surveys.
Battery and precious metals (copper, zinc, lead, gold and silver) in
association with disseminated to massive sulphide mineralization are the
target commodities for future drill testing.
Four separate locations of special interest were selected for surveying at
a tighter line spacing of 100 m to provide more detailed coverage in
areas of known mineralization and enhanced geology. The Company has
received the preliminary results of the survey. A quality assurance
review and interpretation of the survey results will follow.
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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
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Farwell Gold - Copper Project
Historical work within the Farwell claims indicates a high potential for
significant concentrations of copper, gold, zinc, lead and silver. A major
regional structure known as the Iron Lake Deformation Zone (ILDZ),
passes through the central east part of the claim group. Immediately east
of the Farwell Property within the ILDZ, Tundra Gold Mines reported
samples up to 35.5 g/t gold (Au) in 1988 (Argo Gold Inc. 2020).
For the purpose of reporting the initial property exploration, the claim
group has been divided into three key areas: see map here.
The Farwell Sulphide Zone
In the southeast portion of the property, historical work has recorded
numerous samples anomalous in Copper (Cu), Silver (Ag), Gold (Au),
Lead (Pb) and Zinc (Zn). A grab sample recorded by the Ontario
Geological Survey in 1968 returned 5.58% Cu and 20.5 g/t Ag. Historical,
near surface diamond drilling results ranged up to 1.47% Cu over 5.2 m
at the Bibis showing. Grab samples also collected during the same period
over a 10.7 m zone of heavy to massive sulphide mineralization at the
Burex showing, returned up to 0.18% Cu and 0.9 g/t Ag associated with
pyrrhotite (Po), pyrite (Py) and chalcopyrite (CuFeS2) (Bennett and
Thurston 1977).
The Tundra Gold Horizon
Located in the east-central portion of the claim group, the Tundra Gold
Horizon is mapped as an extension of the ILDZ in contact with
“Tamiskiming” style metasediments (Bennet and Thurston 1977).
Soil sampling carried out along the ILDZ by Precambrian Ventures in
2008 located strong Au and Cu anomalies within the Farwell claims. Of
these areas, particular attention will be paid to the Brown Lake
Occurrence (high Au in a Mobile Metal Ion anomaly with 0.83% Cu), the
Conductor B Occurrence (712 ppb Au in association with sulphide
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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
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mineralization) and the location of a grab sample taken by Tundra Gold
Mines in 1985 that assayed 7.5 g/t Au, 1.58% Cu and 19.9 g/t Ag
(Campbell 2010).
The Koala Gold Area
The Koala Gold area occupies the west portion of the claim group and has
been explored sporadically over the years and highlights three locations
for follow up exploration. From 1986 to 1988, Koala Resources drilled a
number of shallow drill holes that returned 3.4 g/t Au over 0.66m
(Henriksen 1988) and 12.8 g/t Au over 1.52m (White 1987) at two
separate locations. A third location that exhibited a soil geochemical
anomaly of 557 ppb Au, was drill tested and logged as a sulphidized Iron
formation hosting 40% Po and 5% Py (Henriksen 1988). No gold values
were posted on the historical logs.
Upon receipt of the VTEM survey results, the technical team will
integrate the information into the data base to assist in planning the next
work program.
The technical and scientific di sclosures 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 Gold and Battery Metals in Canada. Bold is exploring
properties located within active gold camps of Northern 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 ope rations. As a result of the
COVID-19 pandemic giving rise to local and national anti -virus measures, the
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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
scheduling of activities are 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
www.boldventuresinc.com or contact us at 416-864-1456 or email us at
“David B Graham”
David Graham
President and CEO
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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
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