Lac Surprise Exploration Project
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Bold holds the option to acquire up to 60% of the Lac Surprise project from Northern Superior Resources Inc. (NSRI). The first 50% may be acquired by expending $2 million exploring the property and paying 300,000 shares to NSRI, all over a three year period. An additional 10% interest may be acquired by the delivery of a positive feasibility study over the following five years. The first two years of payments and exploration expenditures have been met.
The Lac Surprise Property is located 70 km southwest of the mining town of Chibougamau Quebec and is very accessible via a network of well-maintained forestry roads. The project currently consists of 274 claims comprising 37, 506 acres.
The property covers a metamorphosed volcano-sedimentary assemblage marked by abundant gabbro dykes and wedged between two large felsic stocks. Three major regional structural features traverse it, all hosting numerous surface and drill-indicated gold occurrences. These are the east-west striking Doda Deformation Zone; a southeast-trending branch of the Opawica-Guercheville Deformation Zone which extends eastward onto the neighbouring Vanstar property; and several NE-trending faults including the Lac Doré Fault and two faults which extend northeastward to the Iamgold-Toma Gold mineral occurrences.
Within the Lac Surprise property, anomalous gold mineralisation is reported in numerous occurrences, in bedrock, diamond drill holes and in till samples, resulting in the identification of at least 6 priority target areas which will require systematic follow-up. Multiple programs of geophysics, prospecting and diamond drilling were carried out during 2014-2016.
The results of the 2016 diamond drilling program were very positive leading to a $1 million recommended program to follow up on the three top priority areas within the Lac Surprise claims.