Toronto, Ontario--(Newsfile Corp. - December 12, 2024) - Bold Ventures Inc. (TSXV: BOL) (the "Company" or "Bold") is pleased to announce that it has received assays up to 56.9 g/t gold (Au) from a newly identified zone at its Burchell Property ("the Property"), sampled during a prospecting and field reconnaissance program in November of this year. The high-grade sample was collected approximately 15 meters southwest of 2023 samples which returned between 0.04 and 0.51 g/t Au. The zone has now been named the 111 (one-eleven) Zone. A geological sketch map of the outcrop exposure was made and three grab samples were collected along or near the zone during the 2024 program (see Table 1 below for coordinates, descriptions, and results). Assay results ranged from <15 ppb Au to 56.9 g/t Au. Sample pulps were re-analyzed by fire assay and sample rejects were re-analyzed by PhotonAssayTM. All values obtained for each sample are presented in Table 1 below.
Table 1: 111 Zone 2024 Results
Sample
Date
Area
X (UTM Z15)
Y (UTM Z15)
Description
Assay Certificate No.
Au ppb1 (Fire Assay)
Au ppb2 (Fire Assay)
Au ppb3 (Photon Assay)
C277089
2024-11-06
111 Zone area
676832
5380323
Strongly silicified mafic volcanic with 0.5% fine disseminated pyrite. Loose outcrop / frost heave.
A24-13987
2400
2670
2550
C277090
2024-11-06
111 Zone
676832
5380320
Strongly silicified mafic volcanic with 0.5-1% fine disseminated pyrite. Loose outcrop or frost heave adjacent to zone in outcrop, about 3m south of previous sample.
The 111 Zone is hosted in strongly silicified, sericitized, sheared mafic volcanics with generally <1% but up to 5% fine disseminated pyrite, within a 050°-060°-striking gold-bearing zone at least 3 meters wide, dipping steeply to the southeast. The surrounding volcanic rocks are variably silicified and sericitized, with alteration observed in intermittent outcrop exposures at least 100 meters across strike to the northwest, and at least 80 meters across strike to the southeast (See Figure 3). The package of rocks occupies a prominent northeast-trending magnetic low which may be traceable for up to 10.4 kilometers across the Property, possibly representing a geological structure. (See Figure 2).
QAQC Protocols
Grab samples were collected, documented and photographed in the field, then placed in sealed bags and delivered to Activation Laboratories (ActLabs) in Thunder Bay, which is an ISO / IEC 17025 accredited laboratory. Grab sample collection is subject to Bold's internal quality assurance / quality control (QAQC) protocols, which include the insertion of blank material and certified reference material into each batch of samples submitted. Samples referenced in this news release were analyzed using ActLabs methods 1A2-50, a 50g fire assay with atomic absorption finish, with over-limit results analyzed using method 1A3-50, a 50g fire assay with gravimetric finish. Sample rejects were analyzed using Actlabs method PhotonAssayTM, as an additional check on the gold results. Finally, samples were analyzed using ActLabs method 1F2, a 4-acid near total digestion with ICP-OES finish, yielding geochemical results for 35 elements.
Burchell Property Information
The Burchell Project ("the Project" or "the Property") is located approximately 100 km west of Thunder Bay, accessible by road south of Trans-Canada Highway 11. The Project is located in the Western Shebandowan Greenstone Belt, contiguous with Goldshore Resources Inc.'s (GSHR) Moss Gold Project which hosts the Moss Gold Deposit (Indicated Resource of 1.23 Moz Au at 1.22 g/t Au, Inferred Resource of 4.92 g/t Au at 1.09 g/t Au. (See Figure 1). The deposit lies within a major 25 km northeast-trending structural corridor which also hosts the past-producing North Coldstream Mine and the Osmani Gold deposit (See Figure 1). 1.8 km of this mineralized trend lies in the northwest corner of the Burchell Property, where historical diamond drilling intersected up to 0.9 g/t Au over 6.4 m, including 4.8 g/t Au over 0.3 m. (See Figure 2).
The Burchell Property is comprised of 242 claims totalling more than 4,500 hectares. Major mineral occurrences on the Property include:
The Hermia Cu-Au Prospect - Located in the western part of the property. Hosted in a zone of deformed felsic to mafic volcanics containing Cu mineralization associated with minor Au, Ag, Mo, Zn and Ni. Historical diamond drilling carried out over a strike length of 2.8 km from 1964 to 2008. Intersections in core include 1% Cu over 5.6 m and 1.68 g/t Au over 1.45 m. (See Figures 1 and 2).
Historical Trenches - Located in the southwest corner of the Burchell Property. Hosted in sheared felsic tuff to lapilli tuff with narrow quartz veining, yielding results up to 42.2 g/t Au over 0.6 m in a chip sample (Osmani 2017, see reference below). (See Figure 2).
The 111 Zone - Located in the central part of the Property. 3m+ wide gold-bearing zone in strongly silicified and sericitized, sheared mafic volcanics containing generally <1% but up to 5% fine disseminated pyrite. Initially discovered in 2023, returning between 0.04 and 0.51 g/t Au. Follow-up in November 2024 yielded results between <15 ppb Au and 56.9 g/t Au. The zone strikes 050-060° and dips steeply southeast. An alteration envelope in the surrounding mafic to intermediate volcanics (silicification and sericitization) extends at least 100 meters across strike to the northwest and at least 80 meters across strike to the southeast, observed in intermittent outcrop exposures. The package of rocks occupies a northeast-trending magnetic low which may be traceable for up to 10.4 km across the Property, possibly corresponding to a geological structure. (See Figures 2 and 3).
"We are extremely pleased with the new high-grade discovery, which adds significant value to the Burchell Project and gives the exploration team new target areas to focus on in the coming year," said Bruce MacLachlan, President and COO of Bold Ventures Inc.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo.,Vice President, Exploration of Bold and 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 Critical and Battery Minerals page.
References:
Osmani, A., 2017. NI 43-101 Technical Report on the Burchell Lake Property, Northwestern Ontario, Thunder Bay Mining District, NTS 52B/10SE, for Tanager Energy Inc.
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.
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.
