Bold Ventures Extends Gold-Mineralized Zones at the Traxxin Project
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Bold Ventures Extends Gold-Mineralized Zones at the
Traxxin Project
Toronto, Ontario, January 12, 2022 – Bold Ventures Inc. (BOL: TSX.V)
(the “Company” or “Bold”) is pleased to report results from its fall 2021
exploration program on the Traxxin Gold Project, east of Atikokan in
Northwestern Ontario. The program consisted of prospecting, stripping
and trenching, geological mapping and sampling focused along the
central portion of the property. Exploration work was successful in
confirming and expanding the areas of known gold mineralization both
in the historical Main Zone region at Bedivere Lake and 1.2 km south at
the Teardrop Zone. The main mineralized northeast trending shear
structure was extended north by approximately 20 m at the Main Zone
(Bold Trench #11) and by approximately 30 m north at the Teardrop
Zone (Bold Trenches #8 and #9). Assay results range from 2.5 ppb Au to
9.80 g/t Au.
Traxxin Fall 2021 Channel Sampling Highlights
Bold Ventures
Traxxin Channel
Samples 2021 Sample No. Trench No.
Interval
(m)
Grade
(Au g/t)
Main Zone
B822910-
911 3 2.0 4.55
B822910 Incl 0.90 9.08
B822908 3 0.90 1.74
B22927 11 0.90 3.43
B22930 11 0.60 1.12
B22914-917 11 3.15 0.29
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Bold Ventures
Traxxin Channel
Samples 2021 Sample No. Trench No.
Interval
(m)
Grade
(Au g/t)
B22914 Incl 0.60 0.83
Teardrop Zone
B163702-
703 8 1.30 0.36
B163718 9 Grab 1.18
B163744-
745 9 1.90 0.14
E6093118 9 0.45 0.22
See 2021 Trench Locations map here
The northeast-trending structure central to the Traxxin property is part
of a series of northeast splays off the main west-striking Quetico Fault
lying south of the property. The western-most splay hosts Agnico Eagle’s
Hammond Reef gold deposit (5.6 Moz at an average grade of 0.71 g/t Au
in all categories) in the Marmion Lake Batholith (Agnico Eagle’s website,
January 2022). The regional similarities provide a good model for
comparison that will continue to evolve as the Company explores the
property.
Results obtained during this latest phase of exploration indicates the high
potential to extend the main northeast structure in 2 key areas. The first
lies at the most northerly exposure on the Main Zone in Bold Trench 11,
uncovered during the fall program. Blue-grey quartz veining over 3 m
wide and iron-carbonate alteration were exposed within a mineralized
(pyrite) altered mafic shear hosted in granitic rocks of the Marmion Lake
Batholith (MacLachlan 2021). The highest assay value obtained from
channel sampling across this zone, returned 3.43 g/t Au over 0.90 m. An
electromagnetic (EM) geophysical survey will be used to track the
mineralized structure north across Bedivere Lake during Bold’s next
phase of exploration. At the Teardrop Zone, approximately 1.2 km south
of the Main Zone, trenching uncovered zones of shearing, quartz veining
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
and mineralization several meters wide, only fractions of which had been
exposed in historical trenching. Assay values up to 1.18 g/t Au were
returned from preliminary sampling across this zone.
Geological mapping of the 5 trenches exposed by Bold’s work indicates
strong similarities exist between the mafic shears and quartz veining at
the Teardrop and the Main Zone, suggesting continuity of the system
between the two areas (MacLachlan 2021). This relatively unexplored
gap will also be targeted for further exploration work.
Concurrent with this recent work, historical geophysical surveys are
under review. An additional geophysical survey is proposed to further
extend the gold-bearing Main Zone to the north in advance of drill testing
that area.
QA/QC
As part of the first pass in the sampling process, channel 'grab' samples
were cut across the stripped outcrop in areas hosting the highest
observed mineralization, quartz veining, alteration and
shearing. Individual sample sections ranged from 0.25 to 1.20 m in
length and were cut approximately perpendicular to the interpreted
mineralized trend. Where possible, the channel samples were bounded
within a single rock unit and mixing of adjacent rock types and shear
horizons was very limited. Channels were cut to a depth of 5 to 7 cm
with a diamond saw and individual samples were removed with the use
of a chisel and hammer.
The channel and grab samples were prepared and analyzed by Activation
Laboratories (Actlabs) in Thunder Bay, Ontario. Each sample was dry-
crushed (< 5 Kg) to 75% passing a 2 mm split to 250-g and pulverized to
85% passing 75 microns. The gold assaying method uses a standard Fire
BOL.V Bay Adelaide Centre-East Tower
22 Adelaide Street West, Suite 3600
Toronto, Ontario, M5H 4E3
boldventuresinc.com
Assay with AAS finish technique on a 50-gram sub-sample taken from a
250-gram split of the submitted sample. Check assays were performed on
samples with gold values greater than 10 g/t Au using Fire Assay and
Gravimetric finish. Bold Ventures has implemented a rigorous quality
control program which complies to industry best practices for sampling,
analysis and chain of custody. In addition to the control samples inserted
by the lab, certified gold reference samples, blanks and duplicates are
inserted prior to sample submission as part of the QA/QC program.
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.
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.
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 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.