Traxxin Extension Project

Gold (Au)

Traxxin Extension Gold Project

The Traxxin Extension Gold Project is an unexplored group of 158 cell/boundary claims comprising approximately 3,009 hectares or 7,435 acres in the Bedivere Lake area of Northwestern Ontario. The property is located approximately 55 km northeast of the town of Atikokan and 130 Km west of the city of Thunder Bay. Bold Ventures Inc. and Lac Des Mille lacs First Nation have shared the costs related to the claim staking equally and each party owns 50% of the Traxxin Extension Joint Venture Gold property. Bold is the operator of the claims.

The claims were staked contiguous to and northeast of the Traxxin Resources Inc. claims that host a gold discovery made in June of 2016 and subsequently was optioned by Benton Resources Inc. (“Benton”) in December of 2016 (see Benton news releases dated November 1, 2016 and December 7, 2016). Located within the Marmion Batholith, the claims straddle a northeast trending geological structure interpreted to be a splay off the main Quetico Fault zone (Ministry of Northern development and Mines (MNDM) interpreted geology, Pye and Fenwick, 1965). Northeast trending structures within the Marmion Batholith have been located proximal to gold deposits such as the Hammond Reef deposit that hosts a 43-101 qualified resource of 5.4 million ounces gold at an average grade of 0.86 grams per tonne (g/t) in the measured and indicated category and 1.8 million ounces of gold at a an average grade of 0.72 g/t in the inferred category at a lower cut-off grade of 0.50 g/t. (see map below).

“The Traxxin occurrence was visited in June 2016 by D. Campbell and G. Paju of the Ontario Geological Survey-Resident Geologist Program (RGP), who confirmed the presence of visible gold and collected a number of grab samples for assay. Samples of quartz vein material collected from 2 hand-dug pits returned 3.727 ounces of gold per ton, 0.695 ounces of gold per ton and 0.22 ounces of gold per ton.”

Quote extracted from: Puumala, M.A., Campbell, D.A., Tuomi, R.D., Tims, A. and Brunelle, M.R. 2017. Report of Activities 2016, Resident Geologist Program, Thunder Bay South Regional Resident Geologist Report: Thunder Bay South District; Ontario Geological Survey, Open File Report 6326, 96p.

Traxxin Resources personnel (numerous samples) reported gold values ranging up to 115 grams per tonne gold (3.7 ounces per ton gold) and 1281 grams per tonne gold (41 ounces per ton gold) respectively (see Benton news release dated December 7, 2016). Benton has initiated a systematic exploration program over the discovery area.

There is no record of historical work being carried out within the claims. A review of the geology and any relevant technical data is being carried out in order to plan the first phase of work.