TORONTO, ON / ACCESSWIRE / November 16, 2023 /Bold Ventures Inc. (BOL:TSX.V) (the "Company" or "Bold") is pleased to announce that its exploration crew has recently completed prospecting and sampling work at the Burchell Copper and Gold Project. The basis for this work was established by a review of the historical work found within and around the Burchell claim group. The program was carried out through the month of September.
The 2006 Geotech Ltd. Versatile Time-Domain Electromagnetic (VTEM) survey and the 1991 Ontario Geological Survey regional airborne Aerodat Mag-EM (Magnetic-Electromagnetic) survey carried out over the Burchell property both indicate the presence of significant conductors recommended for follow-up work. The VTEM survey which only covers the west side of the property, contains greater detail with a clearer signal, greater depth penetration and closer line spacing than the "regional" survey with the Aerodat system. The Aerodat survey covers the claims at wider line spacing and consequently, provides less detailed information. (see Bold press release dated March 6, 2023) here.
During this program 103 grab samples were collected, with most assays still pending. However, the results from 8 grab samples have been received. They ranged in values from 1.9 ppm Copper (Cu) up to 1130 ppm Cu (0.11% Cu) and 2.1 ppm Nickel (Ni) up to 1480 ppm Ni (0.15% Ni). This may indicate the presence of a magmatic Ni-Cu-PGM mineralized system in the vicinity (PGM analysis is pending on these samples). Sampling of sheared felsic volcanic rocks along one of the VTEM conductor axis in the north-central portion of the property, returned 2.38 g/t Gold (Au).
The area extending to the northeast, along trend from the Hermia Lake copper showing and locations within the central and eastern part of the claim group were sampled. This phase of work has confirmed that additional electromagnetic and magnetic surveys are recommended to complete the geophysical survey coverage of the claim group. The east side of the property has seen very little exploration work. To understand what this means for the mineral potential of the project, please visit the Burchell Battery and Precious Metals Project.
Bold Ventures AGM
At Bold's Annual General Meeting held on October 26, 2023, shareholders overwhelmingly approved all matters in the Notice of Meeting (99.78 % support) including the adoption of the 2023 Incentive Stock Option Plan (the "2023 SOP"). The 2023 SOP was appended to the Management Information Circular (the "Information Circular") dated September 6, 2023 as Schedule "D", a copy of which was filed on sedarplus.com on September 26, 2023. All changes to the 2015 Stock Option Plan made pursuant to the 2023 SOP are set out in a black-lined version of the 2023 SOP appended as Schedule "E" to the Information Circular. The Company wishes to bring to the attention of shareholders the following amendments. The 2023 SOP requires that the Company obtain disinterested shareholder approval of any decrease in the exercise price of or extensions to any stock options granted to individuals that are insiders at the time of the proposed amendment. In addition, the 2023 SOP clarifies the fact that any option that has an expiry date that occurs within ten (10) Business Days from the end of a Blackout Period shall not be extended and shall expire if unexercised by the original expiry date.
In other news, The Northern Ontario Business Magazine recently published an article of interest concerning the Ring of Fire development. You may access this article here.
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.
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).
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.
"David B Graham"
President and CEO
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.
SOURCE: Bold Ventures Inc.
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