Toronto, Ontario, October 29, 2018 – Bold Ventures Inc. (BOL:TSX.V) (“Bold” or the “Company”) is pleased to announce the initial results of the first reconnaissance, prospecting and sampling program at its Stover Gold Project option (see Bold news release dated November 30, 2017). The property is located approximately 85 km northeast of Wawa, Ontario on the Trans-Canada Highway and is road accessible. These results relate to work that was carried out on the central and eastern portion of this very large claim group.
A total of 181 samples were collected and sent to AGAT Laboratories in Thunder Bay for gold and trace element analysis. Gold (Au) assay results ranged from <2 ppb (parts per billion) up to 8.63 g/t (grams per tonne) or 8630 ppb. 77 samples returned assay values of <2ppb, 96 samples returned values ranging from 2 ppb up to 50 ppb and 8 samples returned values ranging from 50 ppb to 8.63 g/t.
The results demonstrate the elevated nature of the gold content in the vicinity of the historical gold showings and has provided the company with important information about the local geology and related gold potential for planning future exploration.
To date, the reconnaissance program at the Stover Gold Project has confirmed 4 areas within the central and eastern portion of the property as having high potential for gold mineralization. Additional sample results are pending analysis. Highlights of the first four high priority areas are:
Kent Occurrence: Grab samples collected adjacent to the historical (1954) Kent Mines occurrence returned assay values ranging from 5 ppb Au up to 8.63 g/t Au. Local geology consists of sheared iron formation and mafic metavolcanics near the eastern margin of the Harcourt Lake granitic stock.
Zone 3: Grab sampling conducted approximately 700 m NW of the historic Kent Mines Occurrence returned assay values ranging from <2 ppb Au up to 194 ppb Au. Of additional note at this location, a sample that returned 39 ppb Au also contained 30.6 g/t Ag (Silver), 215 ppm (parts per million) Cu (Copper), 3500 ppm Pb (Lead) and 80 ppm Bi (Bismuth).
New Pileggi Occurrence: Grab samples collected along strike 100 m east of the historic Pileggi No. 1 trench returned assay values ranging from <2 ppb Au up to 4.21 g/t Au. Local geology consists of quartz veining and disseminated pyrite in sheared metavolcanics and iron formation.
Road Zone: Located in the central portion of the property, grab samples collected in sheared, intermediate metavolcanics, and granodiorite returned assay values ranging from <2 ppb Au up to 308 ppb Au. This site is located south of the historic Maisondor Gold Occurrence that is located just north of the Stover property.
As a result of observations made during the initial program, an additional 21 cell claims were staked totaling approximately 452 hectares (1,117 acres). Additionally, as a result of “cell growth” during the conversion to the new Mining Lands Administration System (MLAS) in Ontario, the claim group grew in size by approximately 1,390 hectares (3,435 acres). The overall property now consists of 366 cell claims and 89 boundary claims that comprise approximately 8,601 hectares (21,254 acres).
In November of 2017 the company completed an 842 km high-resolution airborne magnetic survey over the property. Numerous anomalies and several prominent geophysical trends were identified (but remain untested).
The Stover Property lies along a 20-km segment of what is known locally as the Goudreau Lake – Missanabie Shear Zone, which is part of the much more extensive Larder Lake – Cadillac shear zone. Approximately 20 km west of the property the Goudreau Lake Shear Zone hosts Alamos Gold’s recently acquired Island Gold Mine and Argonaut Gold Inc.’s Magino Deposit, in addition to several small past producers. The past producing Renabie Mine is located proximal to the shear zone and 5 km east of the Stover claims.
Rock grab samples were shipped to AGAT Laboratories in Thunder Bay, where the rocks were dry-crushed to 75% passing a 2 mm split to 250-g and pulverized to 85% passing 75 microns. AGAT Laboratories then shipped the pulps to their Toronto laboratory for gold and multi-element analyses. The gold assaying method uses a standard Fire Assay with AAS finish technique on a 30-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. The samples were also tested for 43 other trace elements using an ICP-OES finish by 4-acid digestion.
The technical information in this news release was reviewed and approved by Gerald D. White, B.Sc., P. Geo., a qualified person (QP) for the purposes of NI 43-101.
About Bold Ventures Inc.
The Company explores for minerals in Ontario and Québec. In Ontario, Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The Company has also earned a 10% carried interest in the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage. Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in Northwestern Ontario. In Québec, Bold’s primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec.
For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.
“David B Graham”
President and CEO
“Richard E. Nemis”
Richard E. Nemis
Chairman of the Board