Bold Ventures Completes VTEM Airborne Survey at the 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 VTEM Airborne Survey
at the Farwell Gold-Copper Project
Toronto, Ontario, March 8, 2022 – Bold Ventures Inc. (BOL: TSX.V) (the
“Company” or “Bold”) is pleased to report the receipt of the final report of
the Versatile Time-Domain Electromagnetic Survey (VTEM) carried out
by Geotech Ltd. of Aurora, Ontario. The survey covered the full 19,200
acre Farwell Gold-Copper property, located 55 km northwest of Wawa,
Ontario (see Bold news release dated February 3, 2022).
The survey data has produced a number of previously unidentified
geophysical anomalies and enhanced the geophysical signature, depth
extent and characteristics of anomalous areas associated with known
copper and gold showings. The digital data from the survey is being
integrated with the geological data base for interpretation and
comparison with known copper and gold showings. Modelling of these
anomalous areas will lead to follow-up work in previously unexplored
areas and the identification of drill ready targets.
A PDF version of the survey report has been posted on the Bold Ventures
Inc. website.
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.
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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 east-central portion 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. In
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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
mineralization) and the location of a grab sample collected 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. Three locations have been
identified 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.
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.
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 oper ations.
As a result of the COVID-19 pandemic giving rise to local and national anti-virus
measures, the scheduling of activities are subject to change. COVID-19 impacts
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BOL.V Bay Adelaide Centre-East Tower Tel: 416 864 1456
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Toronto, Ontario, M5H 4E3
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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
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.