Bold Ventures Provides Update of Traxxin Gold and Farwell Gold and Base Metals Projects
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
Bold Ventures Provides Update of Traxxin Gold
and Farwell Gold and Base Metals Projects
NEWS RELEASE - For Immediate Release
Toronto, Ontario, October 14, 2020 – Bold Ventures Inc. (BOL: TSX.V)
(the “Company” or “Bold”) is pleased to announce that recent work on
Bold’s Traxxin Gold Project in the Atikokan area has included the
resampling of high-grade gold sections from historical diamond drilling
(2017-2018) along the “Main Zone” located in the north-central portion
of the claims. A total of 22, 1-meter long drill core samples were collected
by Bold’s technical personnel and submitted for screen metallic, 500g
gold analyses.
A review and interpretation of the airborne and ground geophysical
surveys carried out in 2016 and 2017 has been undertaken. Additionally,
the geological staff have reviewed the project database and identified a
number of areas outside of the Main Zone to assess and prioritize for
their gold potential.
The Company is finalizing a diamond drill program designed to continue
the delineation of the Main Zone. The Company expects this to be
completed shortly and plans to mobilize a drill to the project
immediately thereafter. Highlights of the Traxxin Main Zone drilling in
2017 included the following results (Sims 2019):
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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
Hole From To Interval (m) Grade (AU g/t)
BED-17-001 2.7 5 2.3 1.82
17.9 31.9 14 1.5
17.9 21.9 4 3.63
incl 17.9 19.9 2 6.43
incl 25.9 28.9 3 1.41
BED-17-002 20.3 24.3 4 0.77
incl 22.3 23.3 1 1.98
51 52 1 4.85
BED-17-003 22.7 23.7 1 37.3
BED-17-004 39.8 40.8 1 1.1
49.4 52.2 2.8 0.96
incl 51.2 52.2 1 1.86
BED-17-005 34 56.2 22.2 1.07
incl 37.8 56.2 18.4 1.26
43.8 56.2 12.4 1.71
50.5 56.2 5.7 3.37
52.5 55.2 2.7 6.59
53.3 55.2 1.9 8.9
BED-17-006 51 53 2 2.66
BED-17-007 38 51 13 0.63
incl 50 51 1 5.46
BED-17-008 50 51 1 2.65
BED-17-009 NSA
BED-17-010 32.3 34.3 2 0.44
BED-17-011 31.4 45 13.6 0.34
incl 31.4 35.7 4.3 0.51
BED-17-012 23.9 25 1.1 0.74
BED-17-013 12.5 35.5 23 0.8
incl 12.5 16.5 4 3.09
14.5 15.5 1 11.2
34.5 35.5 1 4.04
BED-17-014 13 49 36 0.63
3
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
incl 13 25 12 1.16
13 18 5 2.06
23 25 2 1.4
44 49 5 1.55
44 45 1 5.83
BED-17-015A NSA
BED-17-016 84.7 92.7 8 2.4
88.9 92.7 3.8 4.76
88.9 91 2.1 7.87
BED-17-017 NSA
BED-17-018 42.7 62.2 19.5 0.13
BED-17-019 74.2 80 5.8 2.03
74.2 78.2 4 2.73
BED-17-020 67.9 71.6 3.7 0.35
BED-17-021 58.1 100.4 42.3 0.21
BED-17-022 117.2 137.2 20 1.61
117.9 130 12.1 2.35
122.6 130 7.4 3.43
124.6 125.6 1 7.65
129 130 1 9.11
The Traxxin Main Zone discovery is hosted by a major northeast splay of
the Quetico fault at the contact horizon between the Marmion Lake
Batholith to the north and metavolcanic rocks of the Lac des Mille Lacs
Greenstone Belt to the south (see Bold Press Release dated August 24,
2020 and September 17, 2020).
Farwell Gold and Base Metals Project
In other news, the Company reports the initial exploration program on
the Farwell Gold and Base Metal property north of Wawa has been
completed. Prospecting and sampling have been successful in locating
key historical occurrences and previously undocumented mineralized
shear zones in the 3 main areas of interest on the property. These include
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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
the eastern Tundra Gold Horizon (TGH), the central Farwell Sulphide
Zone (FSZ) and the western Koala Gold Area (KGA). These key areas are
displayed on the Bedrock Geology and Mineral Compilation Map located
on the Farwell, Ontario Gold and Base Metals Project page at
www.boldventuresinc.com. A total of 102 samples have been submitted
for gold and trace element geochemical analysis.
With the initial reconnaissance and property-wide prospecting program
completed, management has proceeded to focus on the TGH.
Prospecting by Tundra Gold Mines Ltd. in 1985 uncovered the Tundra
Au-Cu occurrence that was again examined and sampled by Precambrian
Ventures Ltd. in 2008. The showing consists of a sulphide facies iron
formation hosted in a well-sheared, highly siliceous, mafic metavolcanic
schist. Grab samples collected by Tundra Gold Mines graded up to 7.5 g/t
Au, 1.58% Cu and 19.9 g/t Ag (Campbell, 2010, see Bold news release
dated September 9, 2020).
A high magnitude magnetic signature coincident with a number of
electromagnetic anomalies is observed from the 1987 Ontario Geological
Survey (OGS) airborne survey. This geophysical signature extends from
the Tundra Gold-Copper Occurrence west through the Conductor ‘B’
showing and the Brown Lake Occurrence, all hosting significant gold
values. These factors indicate a potential gold bearing horizon in excess
of 2.5 km long (see Bold news releases dated June 1, 2020 and September
9, 2020).
The Farwell claims are road accessible via the Paint Lake Rd. (Eagle River
Mine service road) and consist of 103 Cell claims, 6 Multi-Cell claims and
6 Boundary claims comprising approximately 7,770 ha or 19,200 acres.
Wesdome Gold Mines Mishi Open Pit operation and the Magnacon Mill,
both part of the larger Eagle River Complex that includes the Eagle River
underground gold mine, lie 5 km south of the Farwell claim group. The
Eagle River Mine is situated approximately 25 km to the south of the
subject claims.
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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
The technical information found within this news release has been reviewed an d
approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI
43-101.
As a result of the current COVID -19 virus c oncerns, the Company’s
management and cont ractors are following public guidelines and
taking recommended steps t o protect the health and safety of all
personnel while carrying out field operations.
Please visit the Bold website at www.boldventuresinc.com and see our
recent news and project information.
About Bold Ventures Inc.
The Company explores for Gold and Base 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
For additional information about Bold Ventures and our projects please
visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-
864-1456.
“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
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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
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.