Bold Ventures Mobilizes Crew to Burchell and Provides 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 Mobilizes Crew to Burchell and Provides Update
Toronto, Ontario, September 13, 2023 – Bold Ventures Inc. (BOL: TSX.V) (the
“Company” or “Bold”) is pleased to announce that it has mobilized a prospecting crew
to the Burchell Battery and Precious Metals Project in the Shebandowan Belt west of
Thunder Bay, Ontario. The goal for this phase of work is to prospect and sample
various locations that have not been accessed by Bold’s exploration team to date. In
addition, the crew is prospecting and sampling known airborne VTEM and Aerodat
anomaly locations that have been interpreted from historical surveys (see Bold press
release dated March 6, 2023). The 2006 Geotech Ltd. Versatile Time-Domain
Electromagnetic (VTEM) survey and the 1991 Ontario Geological Survey regional
airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey both indicate the
presence of significant conductors recommended for follow-up work. Conductors
associated with the Hermia Lake copper showing along the western portion of the
property and the area trending to the northeast were identified. For a review of this
project, visit the Burchell Battery and Precious Metals Project.
The Company has reached an agreement with the Optionors of the Burchell claim
group to extend the first anniversary cash payment of $60,000, the work expenditure
of $200,000 and the share payment of 300,000 common shares of Bold to May 1,
2024. In exchange for this accommodation Bold will issue 300,000 common shares to
the vendors, subject to regulatory approval.
Traxxin Gold Project
The Company has completed the first phase of drilling at the Traxxin claim group. The
program produced what management believes is the most important drill
intersection to date from over thirty drill holes. Hole BV-21-04 encountered 3.6 g/t
Au over 12.3 m below the previous drilling at the Main Zone. A 10 km geophysical
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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
survey to track the Main Zone structure to the north is planned for early 2024. Based
on these results a phase 2 drilling program will be developed to extend the Main Zone
to the northeast and at depth.
Bold has satisfied the share payments and exploration expenditures called for in the
Traxxin Gold Project option agreement (see Bold press release dated August 24,
2020. In order to complete the acquisition of a 100% interest in the claims, a final
cash payment of $60,000 has been reduced to $40,000 cash and the payment date is
extended to August 23, 2024. In return for this extension and reduction of the cash
payment due, Bold will make a one-time payment of 700,000 common shares of Bold
to the vendor, subject to regulatory approval.
Farwell Copper-Gold Project
Work on the Farwell claim group has identified a series of electromagnetic and
magnetic anomalies that are near drill ready. A closely spaced, high resolution
airborne magnetic survey will complete the work necessary to finalize the drill
targeting. The initial phase of drilling will focus on the Farwell Sulphide Zone (see
Bold press release dated April 18, 2023).
The Company is pleased to report that it has come to terms with the vendors of the
Farwell claims to extend the third anniversary date calling for a cash payment of
$50,000, work expenditures of $480,000 and a share payment of 400,000 common
shares of Bold to May 1, 2024. In exchange for this amendment the Company will
issue 400,000 common shares of Bold, subject to regulatory approval.
All shares to be issued will be subject to a four month and one day hold period from
the date of issuance.
Koper Lake Project
Bold owns a 10% carried interest (through to production) in the Black Horse
Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of
20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015).
Additionally, Bold owns a 40% working interest in all other metals found within the
Koper Lake claims and has the right to earn up to an 80% working interest in all
other metals. Bold has the Right of First Refusal on a 1% NSR covering all metals
found within the claim group.
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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
There has been recent news from the Ring of Fire.
The environmental assessment process for all-weather road access to the Ring of Fire
is being developed as three proposed road projects: the Northern Road link, the
Marten Falls Community Access Road and the Webeque Supply Road. Information
and progress regarding these projects may be accessed via the links provided on
Bold’s Critical and Battery Minerals page.
Bold Ventures management believes 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).
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 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
“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.
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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
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.