Bold Ventures 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 Provides Update
Toronto, Ontario, March 06, 2023 – Bold Ventures Inc. (BOL: TSX.V) (the “Company”
or “Bold”) is pleased to provide the following update.
Burchell Gold and Copper Project (Cu-Zn-Au-Ag)
The Company is pleased to report that it has received an interpretive study from SHA
Geophysics Inc. covering two historical surveys completed over the western portion
of the Burchell Gold-Copper property located in the Shebandowan Belt west of
Thunder Bay, Ontario. The 2006 Geotech Ltd. Versatile Time-Domain
Electromagnetic (VTEM) survey and a 1991 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 and the area trending to the northeast, were identified
for further study and inclusion with the geological data base. Having completed a
review of the data quality and results of the 2006 survey, an extension of the VTEM
survey to the eastern portion of the property, which remains underexplored, is being
considered.
Evident from the survey is the presence of a structural trend that cuts across the
northwest corner of the Burchell property. This structural zone hosts Goldshore
Resources’ Moss Lake Gold Deposit located immediately west of the claim group, as
well as the past-producing North Coldstream Mine and the Osmani Gold Deposit
located within 3 km of the Burchell Property’s north claim boundary. This prominent
northeast-trending structure strikes across the Burchell Property for a distance of 1.8
km. (see the northeast gold trend map). The Company continues to compile and
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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
interpret the historical work in the context of Bold’s prospecting, sampling and
mapping program carried out last Fall.
Koper Lake Project (Cr-Ni)
On February 24, 2023, KWG Resources Ltd. announced the completion of a
magnetotelluric survey over portions of the Black Horse Chromite deposit located in
the Ring of Fire area of the James Bay Lowlands region of northern Ontario.
Preliminary results of the magnetotelluric survey indicated that the two target areas,
one located 1 km northeast of the Black Horse Chromite Deposit and a second area
located between 2 and 4 km northeast of the Black Horse Deposit have …. “clearly
distinguished the ultramafic host rock, known as the Ring of Fire intrusion, from the
enclosing country rock. This permits the results from the two target areas to be
interpreted with confidence” (KWG press release dated February 24, 2023). Bold CEO
David Graham commented that “KWG management continues to improve the
understanding of the Koper Lake chromite mineralization to the benefit of the Black
Horse size and potential.”
The Black Horse Chromite Deposit is part of the Koper Lake Project where KWG is the
Operator of the chromite exploration effort. 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.
The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring
of Fire Metals (formerly Noront Resources Inc.). Of additional note, the Koper Lake
claims are located approximately 300 m from Ring of Fire Metals’ Eagle’s Nest Ni-Cu
Massive Sulphide Deposit that is in the permit acquisition stage. Chromite, nickel and
copper are critical minerals that will play an important role in the electrification
plans of Ontario and North America. The Company is encouraged by these ongoing
developments in this emerging critical mineral mining camp.
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
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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 progress regarding these projects may be accessed via the links provided on
Bold’s critical and battery metals page.
The technical information found within this news release has been reviewed and
approved by Gerald D. White, B.Sc., P.Geo., 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 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 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.
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
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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
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.