Bold Ventures Showcases New Gold Discovery and Recent New Results at Vancouver Resource Conferences
Bold Ventures Showcases New Gold Discovery
and Recent New Results at Vancouver
Resource Conferences
Toronto, Ontario--(Newsfile Corp. - January 17, 2025) - Bold Ventures Inc. (TSXV: BOL) (the
"
Company
" or "
Bold
") is pleased to announce that the Company will have booths at the Vancouver
Resource Investment Conference (VRIC) from January 19 to 20 (booth 520), and AME Roundup from
January 22 to 23 (booth 1524). The Company's President and COO, Bruce MacLachlan, and the
Company's V.P. Exploration, Coleman Robertson, will be present for the duration of these two
conferences, as well as the preceding Metals Investor Forum from January 17 to 18.
The Bold exhibition booth will showcase various samples, maps and photographs from the Company's
Burchell Gold and Copper Project, the Company's Traxxin Gold Project, and the Company's Wilcorp
Gold Project. Of particular interest is the recent high-grade gold discovery at the Burchell Project. The
111 Zone discovery yielded impressive gold values ranging from 10 ppb Au up to 68,000 ppb Au (68 g/t
Au or 2.2 oz./t Au). See Bold press releases dated
December 12, 2024
and
January 9, 2025
. The
exhibition booth will also showcase newly obtained results from recent sampling programs at the three
properties, which Bold is pleased to present below.
Burchell Gold-Copper Project - MMI
TM
Soil Sampling Results
Results have recently been obtained from a November 2024 MMI
TM
soil survey in the northwest corner of
the Burchell Property, designed to test the strike extension of the Moss Trend on the adjacent Moss Gold
Property to the west, one of several subparallel polymetallic trends in the region (see Goldshore
Resources Inc.'s
September 28, 2023 news release
). 74 samples were collected on four northwest-
southeast lines, perpendicular to the general strike of the country rocks and regional gold trends. Lines
were spaced at 200-250 meters, 550-1100 m in length, with 50-meter sample station spacing.
Response ratios (RRs) were calculated for each sample by element, according to
SGS guidelines
,
which state that '
response ratios in general need to be greater than 2-5 times background before being
considered "anomalous".
' Notable results include several coincident gold (Au) – copper (Cu) –
molybdenum (Mo) response ratios >10 in the northern half of the survey (see
Figure 1
), with Au RRs up
to 40; Cu RRs up to 61, and Mo RRs up to 369. Other notable results include zinc (Zn) RRs up to 93 and
uranium (U) RRs up to 52. These anomalies provide a basis for further exploration in this area, which
could include infill soil sampling or ground geophysics to better define targets for drilling.
The Burchell Gold-Base Metal Project is located approximately 105 km west of the port city of Thunder
Bay in the south-central portion of Northwestern Ontario (see
Figure 2
). The claims are accessible via
logging roads and secondary Highway 802 south from Trans-Canada Highway 11 travelling west from
Thunder Bay. For additional information regarding the Burchell Gold-Copper Project visit the
Burchell
Gold-Copper Project Page here
.
Traxxin Gold Project - Prospecting and Sampling Results
Recent assay results ranging from < 5 ppb Au up to
345 ppb Au
have been obtained from 20 grab
samples collected during a November 2024 prospecting and sampling program at the Traxxin Property.
3 gold anomalies from 170 ppb Au to 345 ppb Au were obtained from samples of strained, silicified
tonalite with local quartz veining in outcrop on an island northeast of the Traxxin Main Zone (see
Figure
3
). The November program took advantage of lower-than-average water levels to carry out shoreline
prospecting. Descriptions of anomalous samples are included in Table 1 below. These results suggest
that gold-bearing shear zones extend northeast from the mainland into Bedivere Lake, which warrants
further investigation through ground geophysics and diamond drilling. For a full description of the Traxxin
Gold project visit the
Traxxin Gold Project Page here
.
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario (see
Figure 2
). The claims are
road accessible via TransCanada Highway 11. Local infrastructure includes rail, power and an
experienced mineral exploration workforce and mining supply, all located within hours of the property.
Wilcorp Gold Project - Prospecting and Sampling Results
Assays from < 5ppb Au to
7.28 g/t gold (Au)
have been obtained from 26 grab samples collected
during a November 2024 prospecting and sampling program at the Wilcorp Property. The 7.28 g/t Au
result corresponds to a sample of silicified mafic schist with 4-5% disseminated pyrite and arsenopyrite,
in trench rubble / subcrop located approximately 60 meters along strike to the west-southwest of a
September 2024 sample which returned 16.3 g/t Au (see
October 31, 2024 news release
and
Figure 4
and
Figure 5
). These results, in conjunction with September 2024 and 2012 results, suggest two sub-
parallel gold-bearing zones in this area (see
Figure 5
).
Other newly identified anomalies include
: 278 ppb Au
from quartz vein subcrop close to where the
historical Eagle Prospect is thought to be located (see
Figure 4
), as well as
333 ppb Au
from subcrop
of chlorite carbonate schist with quartz veining in the southern part of the Property, associated with
strong I.P. and E.M. anomalies (see
Figure 4
). Descriptions of anomalous samples are included in Table
1 below.
The Wilcorp claim group is located approximately 13 km east of the town of Atikokan, Ontario (see
Figure 2
) in McCaul Township, and 17 km south of Agnico Eagle's Hammond Reef deposit, which
contains combined reserves and resources of 5.6 Moz of gold at 0.71 gpt Au (Agnico Eagle website,
2022). For a full description of the Wilcorp Gold Project visit the
Wilcorp Gold Project Page here
.
Table 1
Table 1: November 2024 Traxxin and Wilcorp Project Significant Results
Project
Sample
No.
Date
Area
X
(UTM
Z15)
Y
(UTM
Z15)
Source
Description
Au
ppb
Traxxin
C277530
2024-11-08
Island
north of
Main Zone
654518.5
5412877
Outcrop
Foliated, silicified tonalite
with 1% pyrite blebs and
local grey blebs of quartz.
170
Traxxin
C277531
2024-11-08
Island north
of Main
Zone
654517.5
5412876
Outcrop
Glassy, grey quartz
veining with 1% pyrite in
foliated, silicified tonalite.
Outcrop 1m SW of
C277530.
345
Traxxin
C277540
2024-11-08
Island north
of Main
Zone
654549
5412862
Talus
Tonalite with
recrystallized coarse
quartz, sericite alteration,
trace-0.5% pyrite blebs.
221
Traxxin
C277047
n/a
n/a
n/a
n/a
n/a
Quartz pebble blank.
2.5
Traxxin
C277048
n/a
n/a
n/a
n/a
n/a
Standard OREAS 24d.
2.5
Wilcorp
C277041
n/a
n/a
n/a
n/a
n/a
Quartz pebble blank.
2.5
Wilcorp
C277042
n/a
n/a
n/a
n/a
n/a
Standard OREAS 230.
337
Wilcorp
C277069
2024-11-02
Northern
Trenches
2012 14
grammer
615759
5403848
Rubble
Quartz-ankerite vein with
silicified mafic schist wall
rock containing 1% pyrite-
arsenopyrite-chalcopyrite,
0.5% sulphides overall.
Quartz rubble / subcrop
on opposite side of trench
from Bjorkman 8
grammer.
932
Wilcorp
C277070
2024-11-02
Northern
Trenches
2012 14
grammer
615759.2
5403848
Rubble
Similar to sample
C277069, also from
rubble 0.5m to the SSE.
207
Wilcorp
C277071
2024-11-02
Northern
Trenches
2012 14
grammer
615760
5403848
Rubble
Silicified mafic schist,
minor quartz stringers, 4-
5% disseminated pyrite-
arsenopyrite. Rubble 1m
E of C277070.
7280
Wilcorp
C277075
2024-11-02
Patent
Junction,
Eagle
Prospect
615998
5403798
Rubble
Quartz ankerite veining in
mafic schist, trace pyrite.
Rubble / subcrop, may
have been blasted once.
278
Wilcorp
C277086
2024-11-03
I.P. anomaly
MC-11
617138
5403203
Frost heave
Chlorite-carbonate schist
with minor chalcopyrite
blebs and minor silvery
arsenopyrite, minor to
moderate quartz-ankerite
stringers.
333
Table 1: November 2024 Traxxin and Wilcorp Project Significant Results
Project
Sample
No.
Date
Area
X
(UTM
Z15)
Y
(UTM
Z15)
Source
Description
Au
ppb
Ring of Fire News
The Company congratulates Canada Chrome Corporation ("CCC") for its recent selection as a member
of the USA Defence Industrial Base Consortium. The press release can be accessed through this
link
.
The Black Horse Chromite Deposit is part of the
Koper Lake
Project where CCC 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% Cr
2
O
3
at a cut-off of 20% Cr
2
O
3
(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 Wyloo, Ring of Fire Ltd.
(formerly Noront Resources Inc.). Of additional note, the
Koper Lake
claims are located approximately
300 m from Ring of Fire Metal's 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 and progress regarding these projects may
be accessed via the links provided on Bold's
Critical and Battery Metals page
.
Farwell Gold-Copper Project
Bold is pleased to announce that it has signed a fourth amendment to the Farwell Property Option
Agreement dated March 12, 2020 (the
"Farwell Option Agreement"
) between three arms-length
individuals as Vendors and Bold as the Optionee of the property.
On July 3, 2023, the Company and the Vendors entered into a First Amending Agreement (the "
Farwell
First Amendment
") to amend the Farwell Option Agreement. Subsequently, on September 13, 2023,
the Company and the Vendors entered into a Second Amending Agreement (the "
Farwell Second
Amendment
") to further amend the Farwell Option Agreement (see Bold press release dated
October
3, 2023
). On April 23, 2024, the Vendors and Bold entered into a Third Amending Agreement (the
"
Farwell Third Amendment
" and together with the Farwell First Amendment and Farwell Second
Amendment, the "
Amended Farwell Option Agreement
") (see Bold press release dated
April 29,
2024
) to amend the Farwell Option Agreement.
The Vendors and Bold have now signed a Fourth Amending Agreement (the "
Farwell Fourth
Amendment
") amending the Amended Farwell Option Agreement such that the Option can be
exercised by the issuance of an aggregate of 1,550,000 common shares of Bold ("
Shares
") (reducing
the total number of Shares Issuable by 100,000), 750,000 Shares of which have already been issued,
the payment of an aggregate of $95,000 in cash (reducing the cash consideration from $225,000),
$75,000 of which has already been paid, and expending $550,000 on exploration (reducing the
exploration expenditure from $1,000,000), $250,000 of which expenditures have been made.
In consideration for entering into the Farwell Fourth Amendment, the Vendors will be paid $5,000 and
issued 200,000 Shares following receipt of regulatory approval to the Farwell Fourth Amendment and
receipt of an exploration permit and an exploration agreement that allows for the exploration of the
Property.
The following are the new schedules of cash payments, Share issuances and expenditure
requirements:
a cash payment of $5,000 will be due on or before September 1, 2025; and
a cash payment of $10,000 will be due on or before September 1, 2026,
for aggregate cash payments of $15,000;
200,000 Shares to be issued on or before September 1, 2025; and
400,000 Shares to be issued on or before September 1, 2026,
for aggregate Share issuances of 600,000 Shares;
an aggregate of $350,000 of exploration work to be completed by September 1, 2025; and
an aggregate of $550,000 of exploration work to be completed by September 1, 2026.
The Vendors retain a 3% Net Smelter Royalty (3% NSR) in the property. This Farwell Fourth Amendment
increases the cost of Bold's right to buy back half (1.5%) of the 3% NSR from $2,000,000 to $2,500,000
leaving a 1.5% NSR in favour of the Vendors. The Company also has the right of first refusal to purchase
the remaining 1.5% NSR.
If a National Instrument 43-101 Technical Report is prepared on the Property with an indicated resource
of at least 250,000 ounces of gold or gold equivalent and approved by all necessary regulatory
authorities, the Vendors shall be paid the additional sum of $150,000. If a National Instrument 43-101
Technical Report is prepared on the Property with an indicated resource of at least 500,000 ounces of
gold or gold equivalent, approved by all necessary regulatory authorities, the Vendors shall be paid the
additional sum of $250,000.
All Shares to be issued will be subject to a four month and one day hold period from the date of
issuance. The Farwell Fourth Amendment is subject to approval of the TSX Venture Exchange.
Bold Ventures has submitted an early exploration permit application to the Ontario Mineral Lands
Administration System that anticipates an exploration program consisting of geophysical and
geochemical surveys and diamond drilling. The Company is currently negotiating exploration
agreements with local First Nation interests.
The Farwell claim group is located in the east Lake Superior region of Northeastern Ontario
approximately 55 km northwest of Wawa, Ontario (see
Figure 2
). The Trans-Canada Highway 17
connects Wawa with Sault Ste. Marie to the south and the towns of White River and Marathon to the
northwest. For a full description of the Farwell Gold - Copper Project visit the
Farwell Gold-Copper
Project Page here
.
QAQC Protocols
Grab samples at the Wilcorp and Traxxin Properties were collected, documented and photographed in
the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay,
which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal
quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and
certified reference material into each batch of samples submitted. Samples referenced in this news
release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish,
with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Samples
were also analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish,
yielding geochemical results for 35 elements.
MMI
TM
samples were collected according to SGS Laboratories methodology, and shipped to SGS
Laboratories in Burnaby, B.C., where they were analyzed according to SGS' MMI-M weak leach method,
yielding concentrations for 53 elements.
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 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
Critical and
Battery Minerals page
.
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"
"David B Graham"
Bruce MacLachlan
David Graham
President and COO
CEO
Direct line: 416-864-1456
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/237467