Bold Ventures Uncovers New Shear Zone at Traxxin
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 Uncovers New Shear Zone at Traxxin
Toronto, Ontario, October 25, 2021 – Bold Ventures Inc. (BOL: TSX.V) (the “Company”
or “Bold”) is pleased to report that its geological team has completed a prospecting,
geological mapping, stripping and sampling program and have demobilized from the
Traxxin Gold Project, east of Atikokan. Having inspected historical trenching on the
claims at both the Main Zone and the Teardrop Zone, specific locations were cleaned
and/or extended for mapping and sampling. Additionally, prospecting focussed on
areas adjacent to and south of the Main Zone (see project details and maps). As a
result, 5 new exposures have been cleaned, mapped and channel sampled for the first
time.
Of particular note, is the presence of two new surface showings that exhibit
prominent shearing and quartz flooding with associated sulphide
mineralization varying from 1% to 10%. These showings have not been
sampled in the past. A total of 103 samples have been taken from various
locations within the claims and will be submitted for gold analysis to an
accredited lab. A map showing the location of the new showings can be
accessed here.
Historical geophysical surveys are being re-interpreted in order to improve the
understanding of the relationship between the geophysical signature and the known
gold mineralization. This will assist in determining the optimal survey system and
coverage to identify and trace out possible gold-bearing horizons more clearly.
Current geological interpretation indicates that multiple shear zones occur
subparallel to the Main Zone. The character, orientation, continuity, and intensity of
the shearing remains a focus of the exploration effort.
A study of polished thin section samples from historical drill core has been initiated.
This is designed to improve the technical team’s understanding of the mineralogical
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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
relationships with the gold mineralization encountered at the property. The work is
being carried out under the supervision of Professor James Mungall, PhD, Carleton
University, who is a member of Bold’s Advisory Board.
Additional exploration work at the Traxxin property is being planned as the results
from the current work are received and evaluated. For a view of the technical merits
of the Traxxin Gold Project and our other properties please visit our website at
www.boldventuresinc.com.
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.
Traxxin Extension Joint Venture
In April 2017, Lac des Mille Lacs First Nation (LDMLFN) and Bold entered into a joint
venture to explore the northeastern extension of the Traxxin Gold discovery.
Pursuant to the Traxxin Extension Joint Venture Agreement, LDMLFN has the right to
earn a 50% interest in the Traxxin Gold Property from Bold by paying to Bold 50% of
the cash option payments, 50% of the expenditure requirements and reimbursing
Bold for 50% of the value of the shares issued pursuant to the Option. If the Option is
earned and both parties maintain their interest in the Traxxin Gold Property, Bold
and LDMLFN will form a joint venture for the further exploration and development of
the Traxxin Gold Property.
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.
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
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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
may affect timing and availability of goods and services for the foreseeable
future.
For additional information about Bold Ventures and our projects please visit
www.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 as required by law. Shareholders are cautioned not to put
undue reliance on such forward-looking statements.