Toronto, Ontario, March 8, 2022 – Bold Ventures Inc. (BOL: TSX.V) (the “Company” or “Bold”) is pleased to report the receipt of the final report of the Versatile Time-Domain Electromagnetic Survey (VTEM) carried out by Geotech Ltd. of Aurora, Ontario. The survey covered the full 19,200 acre Farwell Gold-Copper property, located 55 km northwest of Wawa, Ontario (see Bold news release dated February 3, 2022).
The survey data has produced a number of previously unidentified geophysical anomalies and enhanced the geophysical signature, depth extent and characteristics of anomalous areas associated with known copper and gold showings. The digital data from the survey is being integrated with the geological data base for interpretation and comparison with known copper and gold showings. Modelling of these anomalous areas will lead to follow-up work in previously unexplored areas and the identification of drill ready targets.
A PDF version of the survey report has been posted on the Bold Ventures Inc. website.
Battery and precious metals (copper, zinc, lead, gold and silver), in association with disseminated to massive sulphide mineralization, are the target commodities for future drill testing.
Farwell Gold–Copper Project
Historical work within the Farwell claims indicates a high potential for significant concentrations of copper, gold, zinc, lead and silver. A major regional structure known as the Iron Lake Deformation Zone (ILDZ) passes through the east-central portion of the claim group. Immediately east of the Farwell Property, within the ILDZ, Tundra Gold Mines reported samples up to 35.5 g/t gold (Au) in 1988 (Argo Gold Inc. 2020).
For the purpose of reporting the initial property exploration, the claim group has been divided into three key areas see map here.
The Farwell Sulphide Zone
In the southeast portion of the property, historical work has recorded numerous samples anomalous in Copper (Cu), Silver (Ag), Gold (Au), Lead (Pb) and Zinc (Zn). A grab sample recorded by the Ontario Geological Survey in 1968 returned 5.58% Cu and 20.5 g/t Ag. Historical near surface diamond drilling results ranged up to 1.47% Cu over 5.2 m at the Bibis showing. Grab samples also collected during the same period over a 10.7 m zone of heavy to massive sulphide mineralization at the Burex showing, returned up to 0.18% Cu and 0.9 g/t Ag associated with pyrrhotite (Po), pyrite (Py) and chalcopyrite (CuFeS2) (Bennett and Thurston 1977).
The Tundra Gold Horizon
Located in the east-central portion of the claim group, the Tundra Gold Horizon is mapped as an extension of the ILDZ in contact with “Tamiskiming” style metasediments (Bennet and Thurston 1977).
Soil sampling carried out along the ILDZ by Precambrian Ventures in 2008 located strong Au and Cu anomalies within the Farwell claims. In these areas, particular attention will be paid to the Brown Lake Occurrence (high Au in a Mobile Metal Ion anomaly with 0.83% Cu), the Conductor B Occurrence (712 ppb Au in association with sulphide mineralization) and the location of a grab sample collected by Tundra Gold Mines in 1985 that assayed 7.5 g/t Au, 1.58% Cu and 19.9 g/t Ag (Campbell 2010).
The Koala Gold Area
The Koala Gold area occupies the west portion of the claim group and has been explored sporadically over the years. Three locations have been identified for follow-up exploration. From 1986 to 1988, Koala Resources drilled a number of shallow drill holes that returned 3.4 g/t Au over 0.66m (Henriksen 1988) and 12.8 g/t Au over 1.52m (White 1987) at two separate locations. A third location that exhibited a soil geochemical anomaly of 557 ppb Au, was drill tested and logged as a sulphidized Iron formation hosting 40% Po and 5% Py (Henriksen 1988). No gold values were posted on the historical logs.
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.
About Bold Ventures Inc.
The Company explores for Gold and Battery 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.
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 are subject to change. COVID-19 impacts may affect timing and availability of goods and services for the foreseeable future.
“David B Graham”
President and CEO