Bold Ventures Discovers Rare Earth Element System at Burchell Project
Bold Ventures Discovers Rare Earth Element
System at Burchell Project
Toronto, Ontario--(Newsfile Corp. - June 3, 2026) - Bold Ventures Inc. (TSXV: BOL) (the "
Company
" or
"
Bold
") is pleased to announce the discovery of a rare earth element (REE) system in the northwest
corner of its Burchell Project (the "Project" or the "Property"), located 100 km west of Thunder Bay in the
Western Shebandowan Greenstone Belt (WSGB). The discovery was made during the March 2026
Phase II diamond drilling program at Burchell.
HIGHLIGHTS:
Hole BL-26-05A returned a mineralized interval averaging 1022 ppm (0.1%) Total Rare Earth
Oxides (TREO) over 55.2 meters, within syenite intruded by carbonate veining.
29% of the TREOs are composed of the Magnet Rare Earth Oxides (MREOs), which include Nd,
Pr, Dy & Tb, essential to EV, clean energy, aerospace and defense applications.
The mineralized interval spans the entire drillhole from 55.8 to 111 m, extending beyond
55.8
meters of sand and gravel overburden, and therefore the mineralization is open at depth and in all
directions.
The mineralized interval is associated with REE pathfinder elements Sr, Ba, Ca and P, which are
characteristic of fertile alkaline-carbonatite systems.
Results indicate a chemically evolved system capable of concentrating rare earth elements.
The geological entity hosting the mineralization, the Hermia Pluton, occupies a 6 km stretch in the
northern part of the Burchell Property, indicating an expansive, previously unrecognized REE
exploration potential on the Property.
Bruce MacLachlan, President and COO of Bold Ventures, stated: "The discovery of rare earth element
mineralization was unexpected but very welcome, and bolsters the critical metal potential of the Burchell
Property. The wide anomalous intercept in conjunction with geochemical pathfinders suggests a system
rather than an isolated anomaly. This model has never been explored on the Property, and there is lots of
room to do so along the 6-km portion of the Hermia Pluton on our ground. The discovery is especially
significant in a time when governments are recognizing the importance of secure supply chains and
procurement of critical metals for defense and high-tech applications."
March 2026 Burchell NW Corner Drill Program: Initial Results, Discovery of REE System
The March 2026 Burchell NW Corner Drill Program involved the completion of 6 drillholes in the
northwest corner of the Property where the Moss Gold Trend from the adjacent Moss Project owned by
Gold X2 Mining Inc. is inferred to pass through. The 6 drillholes totalled 834.5 meters. Results from holes
BL-26-05A and BL-26-06A, including significant REE results from hole BL-25-05A, have now been
received from the laboratory and are described below, and results from holes BL-26-07, BL-26-08, BL-
26-09, and BL-26-10 are pending. See Table 1 for drillhole statistics and Figure 1 for locations of
drillholes relative to claim boundaries and topographical features.
Table 1: Burchell Phase II drillhole statistics
Hole_ID
Easting
Northing
Elevation
(mASL)
Az_deg
Dip_deg
Depth_m
Target
BL-26-05A*
673935
5382015
457
345
-60
111
MMI Soil Samples, Hermia Pluton Contact
BL-26-06A**
673645
5382224
462
330
-45
93
MMI Soil Samples, VLF conductors
BL-26-07
673182
5382699
467
320
-45
207
MMI Soil Samples, VLF conductors
BL-26-08
673341
5383025
453
320
-45
156
MMI Soil Samples, VLF conductors
BL-26-09
673539
5382875
456
320
-45
105.5
MMI Soil Samples, VLF conductors
BL-26-10
673444
5382658
467
330
-45
162
MMI Soil Samples, VLF conductors
*hole attempted previously with lighter drill which could not penetrate overburden.
**same as hole BL-26-05A.
BL-26-05A
Hole BL-26-05A was drilled to test an MMI
TM
gold-in-soil anomaly along the inferred contact of the
Hermia pluton, which occupies a magnetic high domain distinct from the felsic to intermediate
metavolcanics to the north (see Figure 1).
Figure 1: March 2026 Burchell Northwest Corner Drillholes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/299909_6b77a00604fdca59_001full.jpg
This hole has discovered a rare-earth element (REE)-bearing alkaline-carbonatite system hosted within
syenite and associated with carbonate veining. The 55.2-meter mineralized interval returned a weighted
average grade of 1,022 ppm TREO, and spans the entire drillhole following 55.8 meters of sandy,
gravelly overburden down to 111 m, indicating that the mineralization is open at depth and in all
directions. This mineralized interval is characterized by elevated concentrations of key REE pathfinder
elements, averaging 3,244 ppm Sr, 2,287 ppm Ba, 14.7% CaO, and 0.89% P
2
O
5
over the interval. This
geochemical assemblage is considered characteristic of fertile alkaline-carbonatite REE systems and
supports the interpretation that the Company has intersected a significant REE-bearing mineralizing
environment.
From a geological perspective, this association is highly encouraging because it is characteristic of
fertile alkaline-carbonatite systems, which host many of the world's major hard-rock REE deposits. The
elevated calcium content reflects strong carbonate enrichment and supports the presence of carbonatitic
or carbonatite-related hydrothermal processes. Strontium values exceeding 3,000 ppm are particularly
significant and commonly associated with carbonatite magmatism and REE-bearing carbonate
systems. Elevated barium suggests the involvement of evolved magmatic-hydrothermal fluids capable of
concentrating incompatible elements, including REEs. Finally, the anomalous phosphorus content may
indicate the presence of REE-bearing phosphate minerals such as monazite and apatite.
The results indicate the presence of a chemically evolved system capable of concentrating rare-earth
elements and provide compelling targets for follow-up exploration to identify higher-grade mineralized
zones within the broader
Hermia Pluton intrusive complex. This pluton occupies a 6 km stretch in the
northern part of the Property, indicating expansive, previously unrecognized REE exploration potential on
the Property.
Furthermore, the TREOs intersected in the 55.2-meter interval are composed of 29% Magnet Rare Earth
Oxides (MREOs), including Nd, Pr, Dy and Tb, which are essential to EV, clean energy, aerospace, and
defense applications. A breakdown of results is included in Table 2 below:
Table 2: Rare Earth Elements and Pathfinder Elements in Hole BL-26-05A
Element /
Oxides
Weighted Avg over
55.2 m
Range
CeO2 ppm
438.4
189.2 - 988.9
La2O3 ppm
171.3
78.9 - 390.5
Pr6O11 ppm
56.5
21.9 - 123.2
Nd2O3 ppm
226.7
77.7 - 552.9
Sm2O3 ppm
36
10.9 - 92.7
LREO ppm
928.9
390.1 - 2072.9
Eu2O3 ppm
8.8
2.8 - 21.9
Gd2O3 ppm
22.7
6.5 - 60.1
Tb4O7 ppm
2.2
0.7 - 5.4
Dy2O3 ppm
9.3
3.3 - 21.4
Ho2O3 ppm
1.5
0.5 - 3.3
Er2O3 ppm
3.25
1.25 - 7.3
Tm2O3 ppm
0.4
0.2 - 0.9
Yb2O3 ppm
2.3
1.0 - 4.8
Lu2O3 ppm
0.3
0.15 - 0.74
Y2O3 ppm
42
15.9 - 94.35
HREO ppm
92.75
32.25 - 208.8
TREO ppm
1021.8
422.3 - 2241.2
MREO ppm
294.7
103.5 - 702.9
MREO / TREO
0.29
0.23-0.33
CaO %
14.3
2.9 - 54.8
P2O5 %
0.9
0.2 - 12.5
Sr ppm
3244.6
1400 - 9850
Ba ppm
2287.5
67 - 4200
TREO (Total Rare Earth Oxides) is calculated by multiplying the elemental concentration of each REE by
its specific stoichiometric conversion factor and summing the concentrations of the corresponding
oxides. The conversion factors used are: La2O3 (1.1728), CeO2 (1.2284), Pr6O11 (1.2082), Nd2O3
(1.1664), Sm2O3 (1.1596), Eu2O3 (1.1579), Gd2O3 (1.1526), Tb4O7 (1.1762), Dy2O3 (1.1477),
Ho2O3 (1.1455), Er2O3 (1.1435), Tm2O3 (1.1421), Yb2O3 (1.1387), Lu2O3 (1.1371), and Y2O3
(1.2699). LREO stands for Light Rare Earth Oxides, the sum of the oxide equivalents of Ce, La, Nd, Pr &
Sm, and HREO stands for Heavy Rare Earth Oxides, the sum of the oxide equivalents of Eu, Gd, Tb, Dy,
Ho, Er, Tm, Yb, Lu, & Y. True widths of mineralization are unknown at this time.
Hole BL-26-06A
This hole intersected a package of variably altered intermediate volcanics which returned no significant
results.
Importance of Rare Earth Elements
Rare Earth Elements are critical to modern manufacturing processes across
a wide range of sectors
including electronics, clean energy, aerospace, automotive and defense. The largest and most important
use of REEs is in the production of permanent magnets (NdFeB magnets), which require the 'magnet
rare earths' Nd, Pr, Dy & Tb and accounted for 48% of the global demand for REEs in 2024. Canada is
not yet a producer of REEs but holds some of the largest known rare earth resources globally, estimated
at over 15 million tonnes of rare earth oxide in 2024. China is the world's largest producer of REEs,
accounting for 69% of global production in 2024. Establishing a secure and sustainable REE supply for
industrial and defense applications has been an increasing concern for governments worldwide,
including Canada's federal and provincial governments. Ontario's Ford government recently released its
'Framework for the Ontario Defence Industrial Strategy' document at the CANSEC 2026 defense &
security trade show in Ottawa, in which Northern Ontario was mentioned as being part of an industrial
cluster through the mining of critical minerals used in the defense and high-tech manufacturing. See the
article below from Northern Ontario Business.
https://www.northernontariobusiness.com/industry-news/manufacturing/ontario-strategy-aims-to-put-
more-pop-in-the-defence-industry-12342774
For more general information on REEs and Canada's position
in the global market, see the link below to
Natural Resources Canada.
https://natural-resources.canada.ca/minerals-mining/mining-data-statistics-analysis/minerals-metals-
facts/rare-earth-elements-facts
For a more in-depth review of REE usage, recovery, geopolitical significance, and global supply chain
challenges, see the link below to an article from Mining, Metals and Metallurgy.
Rare Earth Elements in the Global Economy: Usage, Recovery, and the Quest for Supply Security - A
Review | Mining, Metallurgy & Exploration | Springer Nature Link
QAQC Protocols
Core samples were cut by diamond saw under supervision of the QP, placed in sealed bags, and driven
to AGAT Laboratories in Thunder Bay, an ISO / IEC 17025 accredited laboratory. Blank and standard
certified reference material were inserted into the sample sequence at a rate of 4% each, with an
additional 4% of samples designated for duplicate analysis of the sample reject. All samples were
analyzed using AGAT methods 202-551, a 50g fire assay with Atomic Absorption Spectroscopy finish
for Au analysis, and 201-378, a sodium peroxide fusion with ICP-OES and ICP-MS finish, for 58 trace
elements including most REEs.
Acknowledgements
The Company is pleased to acknowledge the contributions of consultant Ike A. Osmani, MSc., P.Geo, of
FGC Inc., to this news release, having provided valuable insight and background information on alkaline-
carbonatite systems, especially in the context of the Shebandowan Greenstone Belt where he has
extensive work experience spanning decades.
The technical information in this news release was reviewed and approved by Coleman Robertson,
B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person (QP) for the purposes of NI 43-
101.
Bold Ventures management believes our suite of Battery, Critical and Precious Metals
exploration projects is
an ideal combination of exploration potential meeting future demand
.
Our target commodities include: Copper (
Cu
), Nickel (
Ni
), Lead (
Pb
), Zinc (
Zn
), Gold (
Au
), Silver (
Ag
),
Platinum (
Pt
), Palladium (
Pd
) and Chromium (
Cr
). The Critical Metals list and a description of the
Provincial and Federal electrification plans are posted on the Bold website
here
.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties
located in active gold and battery metals camps in 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.
For additional information about Bold Ventures and our projects please visit
boldventuresinc.com
or
contact us at 416-864-1456 or email us at
.
"Bruce A MacLachlan"
Bruce MacLachlan
President and COO
"David B Graham"
David Graham
CEO
Direct line: (705) 266-0847
Email:
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.
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