Winter Plans
The Company is also pleased to announce plans for winter exploration on the Burchell and Traxxin properties, which will involve test lines of Very Low Frequency (VLF) and Magnetometer ground geophysics.
At Burchell the target areas will be the new 111 Zone as well as the northwest part of the Property, where the Moss Gold Trend (along strike from the Moss Gold Deposit) is projected to pass through the Bold claim group for approximately 1.8 km, and where historical diamond drilling returned a best intersection of 0.9 g/t Au over 6.4 meters.
At Traxxin the target area will be the Traxxin Main Zone, where 2021 drilling by Bold returned up to 3.6 g/t Au over 12.3 m (including 6.1 g/t Au over 4.9 m), and its northern extension onto Bedivere Lake, where new anomalous gold values were obtained on an island in the fall of 2024. The survey will also cover two subparallel conductive trends to the west and east of the Traxxin Main Zone which require further investigation. The conductive trends were identified in a 2017 induced polarization (I.P.) survey.
A summary of recent developments for Bold's Burchell, Traxxin, Wilcorp and Farwell properties is provided below. The three news releases linked above provide more details and figures relating to these developments. More information on the properties can also be found in the web pages linked below in each section.
Burchell Gold-Copper Project
In 2024 the 111 Zone was discovered in the central part of the Burchell Property, returning between 10 ppb Au and 68 g/t Au in a 3+ meter wide zone of sheared, altered volcanic rocks. The zone is situated within a northeast-trending magnetic low, possibly corresponding to a structural corridor which traverses the property for more than 10 km. Little historical exploration is documented in the immediate area, with the closest significant gold showing being 3 km along strike to the southwest, returning historical values up to 42.2 g/t Au over 0.6 m in a chip sample (Osmani 2017, see reference below).
A November 2024 MMITM soil survey, in the northwest corner of the property, was designed to test the strike extension of the Moss Trend on the adjacent Moss Gold Property to the west, one of several subparallel polymetallic trends in the region (see Goldshore Resources Inc.'s September 28, 2023 news release.) The 74-sample MMI soil survey returned coincident gold, copper and molybdenum anomalies, as well as zinc anomalies.
The Burchell Gold-Copper Project is located approximately 105 km west of the port city of Thunder Bay in the south-central portion of Northwestern Ontario (see the Burchell Location Map). The claims are accessible via logging roads and secondary Highway 802 south from Trans-Canada Highway 11 travelling west from Thunder Bay. For additional information regarding the Burchell Gold-Copper Project visit the Burchell Gold-Copper Project Page.
Reference: 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.
Traxxin Gold Project
In late 2024, prospecting was carried out on an island northeast of the Traxxin Main Zone. Assay results ranged from Traxxin Gold Project Page.
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario (see the Traxxin Gold Project Location Map). The claims are road accessible via TransCanada Highway 11. Local infrastructure includes rail, power and an experienced mineral exploration workforce and mining supply, all located within hours of the property.
Wilcorp Gold Project
In September 2024, a grab sample from a historical pit on the Wilcorp Property returned 16.3 g/t Au. A second phase of sampling in November yielded assays from 207 ppb to 7.28 g/t gold 60 meters along strike to the west-southwest. This trend is sub-parallel to a second trend 15-25 meters across strike to the southeast, which was sampled by Bold in 2012 along a length of 40 meters, returning from 140 ppb Au up to 14.4 g/t Au. This area, historically referred to as the Eagle Prospect, was previously mechanically stripped, sampled, and drilled, returning a best intersection of 1.8 g/t Au over 7.6 m in drill core.
Another gold bearing trend, approximately 170 meters in length, was also identified in 2024. Located approximately 75 meters across strike to the south of the historical trenches noted above, sampling returned a range of values from
Finally, a new anomaly of 333 ppb Au was obtained in the southern part of the property, associated with strong I.P. chargeable and conductive anomalies.
The Wilcorp claim group is located approximately 13 km east of the town of Atikokan, Ontario (see the Wilcorp Gold Project Location Map) in McCaul Township, and 17 km south of Agnico Eagle's Hammond Reef deposit, which contains combined reserves and resources of 5.6 Moz of gold at 0.71 gpt Au (Agnico Eagle website, 2022). For a full description of the Wilcorp Gold Project visit the Wilcorp Gold-Project Page.
Farwell Gold-Copper Project
In January of this year, Bold signed an amendment to the Farwell Property Option Agreement. Details of the amended agreement are presented in the news release dated January 17, 2025 linked above.
Bold Ventures has submitted an early exploration permit application to the Ontario Mining Lands Administration System that anticipates an exploration program consisting of geophysical and geochemical surveys and diamond drilling. The Company is currently negotiating exploration agreements with local First Nation interests.
No field work was carried out on the Farwell Property during 2024.
The Farwell claim group is located in the east Lake Superior region of Northeastern Ontario approximately 55 km northwest of Wawa, Ontario (see the Farwell Gold-Copper Location Map). The Trans-Canada Highway 17 connects Wawa with Sault Ste. Marie to the south and the towns of White River and Marathon to the northwest. For a full description of the Farwell Gold-Copper Project visit the Farwell Gold-Copper Project Page.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., V.P. Exploration for Bold Ventures 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.
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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241532
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Figure 1: Devils Mountain Gold Project Location Map
Figure 2: Devils Mountain Project Geology and known historical mining prospects