TORONTO, ON / ACCESSWIRE / March 6, 2023 / Bold Ventures Inc. (TSX.V:BOL) (the "Company" or "Bold") is pleased to provide the following update.
Burchell Gold and Copper Project (Cu-Zn-Au-Ag)
The Company is pleased to report that it has received an interpretive study from SHA Geophysics Inc. covering two historical surveys completed over the western portion of the Burchell Gold-Copper property located in the Shebandowan Belt west of Thunder Bay, Ontario. The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and a 1991 regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey both indicate the presence of significant conductors recommended for follow-up work. Conductors associated with the Hermia Lake copper showing and the area trending to the northeast, were identified for further study and inclusion with the geological data base. Having completed a review of the data quality and results of the 2006 survey, an extension of the VTEM survey to the eastern portion of the property, which remains underexplored, is being considered.
Evident from the survey is the presence of a structural trend that cuts across the northwest corner of the Burchell property. This structural zone hosts Goldshore Resources' Moss Lake Gold Deposit located immediately west of the claim group, as well as the past-producing North Coldstream Mine and the Osmani Gold Deposit located within 3 km of the Burchell Property's north claim boundary. This prominent northeast-trending structure strikes across the Burchell Property for a distance of 1.8 km. (see the northeast gold trend map). The Company continues to compile and interpret the historical work in the context of Bold's prospecting, sampling and mapping program carried out last Fall.
Koper Lake Project (Cr-Ni)
On February 24, 2023, KWG Resources Ltd. announced the completion of a magnetotelluric survey over portions of the Black Horse Chromite deposit located in the Ring of Fire area of the James Bay Lowlands region of northern Ontario. Preliminary results of the magnetotelluric survey indicated that the two target areas, one located 1 km northeast of the Black Horse Chromite Deposit and a second area located between 2 and 4 km northeast of the Black Horse Deposit have …. "clearly distinguished the ultramafic host rock, known as the Ring of Fire intrusion, from the enclosing country rock. This permits the results from the two target areas to be interpreted with confidence" (KWG press release dated February 24, 2023). Bold CEO David Graham commented that "KWG management continues to improve the understanding of the Koper Lake chromite mineralization to the benefit of the Black Horse size and potential."
The Black Horse Chromite Deposit is part of the Koper Lake Project where KWG 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% Cr2O3 at a cut-off of 20% Cr2O3 (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 Ring of Fire Metals (formerly Noront Resources Inc.). Of additional note, the Koper Lake claims are located approximately 300 m from Ring of Fire Metals' 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.
The technical information found within this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., 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 website here.
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.
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 boldventuresinc.com or contact us at 416-864-1456 or email us at [email protected].
"David B 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.
SOURCE: Bold Ventures Inc.