Bold Ventures Commences Field Work at the Traxxin Gold Project
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
NEWS RELEASE - For Immediate Release
Bold Ventures Commences Field Work at
the Traxxin Gold Project
Toronto, Ontario, October 7, 2021 – Bold Ventures Inc. (BOL: TSX.V) (the “Company”
or “Bold”) is pleased to report that its geological team has mobilized to the Traxxin
Gold Project. Having inspected historical trenching on the claims, specific locations
are being cleaned, mapped and sampled. Prospecting will focus on areas adjacent to
and south of the Main Zone (see project details and maps here). Geological mapping
and sampling of these areas of interest will follow.
A downhole geophysical survey is in the planning stage to further define the depth
extent and character of the structurally controlled gold mineralization occurring at
and below the Main Zone. This survey will utilize the four diamond drill holes
completed by Bold in January of this year (see Bold news release dated April 12,
2021).
In conjunction with this work, the historical geophysical surveys have been reviewed
with a goal to improve the understanding of the relationship between the geophysical
signature and the known gold mineralization. As a result, test surveys will be carried
out prior to any additional survey work. This will assist in determining the optimal
survey system and coverage to identify 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.
Additionally, 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 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.
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Additional exploration work will be 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 operations.
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
www.boldventuresinc.com or contact us at 416-864-1456 or email us at
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
“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.