Bold Ventures Provides Year End Project Overview
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
S:\94\94544-Bold\Press Releases\20231115 Draft PR Burch SOP.docx
NEWS RELEASE - For Immediate Release
Bold Ventures Provides Year End Project Overview
Toronto, Ontario, December 18, 2023 – Bold Ventures Inc. (BOL: TSX.V)
(the “Company” or “Bold”) wishes one and all a very Merry Christmas
and Holiday season! All the best to you and yours in 2024!
We are pleased to provide the following projects overview with
highlights.
Farwell Battery and Precious Metals Project (Cu, Zn, Pb, Au, Ag):
Between 2019 and 2023 Bold carried out data compilation, multiple
prospecting and sampling programs, a ground geophysical test survey
and a modern airborne VTEM electromagnetic (EM) and magnetic (Mag)
survey. Of particular note is an interpretation and comparison of the
2022 property scale VTEM EM and Mag survey with the 1987 Ontario
Geological Survey (OGS) Dighem regional airborne EM and Mag survey.
The results indicate that the location of the historical drilling in the
Farwell Sulphide Zone (FSZ) does not compare well with the location of
the modern 2022 survey anomalies within the same vicinity. The
historical drill intersections at the Bibis Copper Prospect (1.5% Cu over
5.2 m) and the Burex Copper Occurrence (massive sulphides over 10.7
m); (Bennett and Thurston 1977) did not appear to adequately test the
conductor locations identified in the 2022 survey. The location of the
2022 VTEM anomalies provide a more accurate basis for drill targets to
test and explain the conductors that may represent copper bearing
massive sulphides. Six diamond drill holes are recommended to test 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
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various conductive anomalies. This report is available on the Bold
website here.
An interpretation of the Farwell property geology and geophysics in
context with the regional scale geophysics and geology indicates the
presence of a Mag low anomaly, indicative of a NW- SE oriented fault
system crossing the Farwell claim group. The structure appears to extend
to the southeast and intersects with Wesdome Gold Mines Mishi open pit
gold deposit located approximately 6 km to the southeast. Wesdome
produced gold from the Mishi pit as recently as 2021. The Mag low may
represent a structural conduit for the remobilization and emplacement of
gold mineralization. A high resolution airborne Mag survey is planned to
provide enhanced detail of the interpreted structure. The survey will
have the added benefit of better locating and orienting the battery metal
drill targets located proximal to the Mag low and in the vicinity of the
Farwell Sulphide Zone (FSZ). A planned drill program will follow the
high-resolution Mag survey.
The Traxxin Gold Project (Au):
In 2020 and 2021 Bold carried out multiple prospecting, sampling,
stripping and channel sampling programs on the Traxxin Gold Property.
Stripping at the north end of the Main Zone indicates that additional sub-
parallel shear zones may be present.
Stripping, mapping, sampling and drilling at the south end of the Main
Zone indicates lower grade gold mineralization between it and the
Teardrop Zone (2.65 g/t Au over 1 m and .21 g/t over 42 m) (Sims 2019)
within a more structurally complex geological setting. Additional
geological and geophysical work in the southern portion of the claim
group is recommended.
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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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Bold completed four diamond drill holes in 2021 to test the Main Zone
gold system at depth. The results confirmed the presence of gold
mineralization in all four drill holes. Hole BV-21-04 located at the north
end of the Main Zone, intersected 3.6 g/t Au over 12.3 m (including 6.13
g/t Au over 4.9 m) at a vertical depth of approximately 150 m in the
deepest drill hole to date. A geophysical survey is recommended to
accurately trace the gold bearing structure to the north, where it remains
open, and to determine if any new sub-parallel shear zones exist. It is
anticipated this would take place just before the next drill program.
The Burchell Battery and Precious Metals Project (Cu, Zn, Ni, Au, Ag,
Mo):
In 2006 a VTEM airborne electromagnetic (EM) and magnetic (Mag)
survey was carried out over the western portion of the Burchell claim
group. In 2017 a NI 43-101 property report was completed (NI 43-101
Technical Report on the Burchell Lake Property, Northwestern Ontario
Thunder Bay Mining District NTS Sheet 52B/10SE, Prepared by Ike A.
Osmani, M.Sc., P.Geo.). A recent interpretation and comparison of the
2006 VTEM survey with an historical Aerodat regional airborne EM and
Mag survey (OGS 1991), has indicated that a VTEM survey covering the
east side of the claim group is recommended. This survey will provide
the most up to date geophysical data upon which to base subsequent
exploration work.
A prospecting and sampling program was carried out in September of
this year (2023). A bedrock grab sample collected within a magnetic-high
area along the main access road in the south -central portion of the
property, returned 0.11% Cu and 0.15% Ni. A number of samples are
pending receipt. Several locations were recommended for potential
stripping and sampling. This work also provided valuable knowledge
concerning the property geology.
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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
Koper Lake Project in the Ring of Fire
In September of 2022 Bold’s JV partner at the Koper Lake Project, Canada
Chrome Corporation, acquired a 50% interest in the Koper Lake claim
group from Fancamp Exploration for $34.5M via a secured convertible
promissory note in the principal amount of C$34.5 million (for complete
terms of the transaction see KWG press release dated September 1,
2022).
Bold has vested a 10% carried interest (to production) in the Black Horse
Chromite NI 43-101 Inferred resource of 85.9 M tonnes of 34.5% Cr2O3 at
a cutoff grade of 20% (KWG Website 2023). Bold also has a 40% working
interest in all other metals found within the claims. Bold also has a Right
of First Refusal on a 1% Net Smelter Return Royalty covering all metals
produced from the property
The Ring of Fire access and infrastructure development continues within
the environmental permitting process. The two closest First Nations are
acting as proponents for the all-weather access and supply roads.
Information about Bold’s Ring of Fire projects, the Ring of Fire
infrastructure development and various critical mineral articles can be
accessed on the Bold Critical and Battery Minerals page.
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.
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).
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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
About Bold Ventures Inc.
The Company explores for Battery, Critical and Precious Metals in Canada. Bold
is exploring properties located in active gold and battery metals camps in the
Thunder Bay and Wawa areas of northwestern 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.
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
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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
as required by law. Shareholders are cautioned not to put undue reliance on such
forward-looking statements.