Bold Ventures

Advancing Gold and Base Metals Projects in Ontario

This Bold Ventures profile is part of a paid investor education campaign.*


Bold Ventures (TSXV:BOL) is a resource development company focused on advancing precious and base metals projects in Ontario, Canada. These include three gold projects located in Northwestern Ontario and several claim groups in the James Bay Lowlands of northern Ontario dubbed the “Ring of Fire”.

Bold Ventures is currently earning a 100% interest in the Farwell Gold and Base Metals Project, the Wilcorp Gold Project and a 50% interest in the Traxxin Gold project. The Ring of Fire Project includes multiple claim groups owned 100% by Bold Ventures subject to an earn-in option agreement with a subsidiary of Dundee Corporation.

Additionally, Bold Ventures has vested a 10 percent carried interest in the Black Horse Chromite Resource and a 40 percent working interest in “all other metals” within the Koper Lake Project. The Company has the option to acquire an additional 10 percent carried interest in the Chromite and another 40 percent working interest in “all other metals” located at the Koper Lake project. The Koper Lake Project, chromite resource named The Black Horse Chromite Project has a NI 43-101 qualified, Inferred Resource of 85.9 million tonnes at 34.5 percent Cr2O3 using a cutoff grade of 20 percent Cr2O3.

Bold Ventures’ projects are all located in the stable mining jurisdiction of Ontario, Canada. According to the 2019 Fraser Institute Survey of Mining Companies, Ontario ranked as the second most-friendly province in Canada when it comes to mining exploration, development and permitting.

Bold Ventures’ flagship Farwell property is home to excellent infrastructure, including road access via Trans-Canada Highway 17. The property is home to Volcanogenic Massive Sulphide (VMS) mineralization including anomalous amounts showings of copper, zinc, lead and gold. The Traxxin project, which is owned together with the Lac des Milles Lacs First Nation (LdMLFN), is similarly accessible via Trans-Canada Highway 11.

The Bold Ventures team is comprised of experienced resource explorers and geologists who are determined to make the next significant resource discovery in Canada. The company’s main focus is to advance its projects to the drilling stage on the most optimal path possible. Bold Ventures systematically explores its properties using cutting edge technology to discover economic mineral deposits.

*The technical information found within this profile document has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.

Bold Ventures’ Company Highlights

  • Bold Ventures team features technical advisors and experts with over 175 years of combined experience, including Canadian Mining Hall of Fame inductee Mac Watson
  • Portfolio of polymetallic projects provides Bold Ventures with diverse exposure to a number of commodities including gold, silver, copper, lead, zinc and chromite
  • Interpretation of exploration surveys conducted on the Farwell property have revealed three target areas, the Tundra Gold Horizon, the Koala Gold Area and the Farwell Sulphide Zone
  • 2016 Traxxin Gold discovery and 2017/18 diamond drilling outlined significant gold mineralization and was acquired in a joint venture with a local First Nation
  • Social licence is a high priority with Bold Ventures management.
  • Ontario ranked 2nd-most friendly province in Canada according to the 2019 Fraser Institute Survey of Mining Companies Bold Ventures’ Farwell Project

Bold Ventures’ Farwell Project

Bold Ventures’ flagship Farwell project is located in the eastern portion of the Lake Superior region of northeastern Ontario, 55 kilometers northwest of Wawa. The property has road access via the all-season Eagle River Gold Mine service road on the eastern boundary of the Farwell claim group. The Farwell claims are approximately 5 kilometers north of Wesdome Gold Mines’ Eagle River Complex Mill facility and 25 km north of the Eagle River Gold Mine.
Bold Ventures Farwell Map

The Farwell Property is comprised of a total of 143 total claims across 7,770 hectares in a proven gold camp hosting gold-bearing quartz veins in iron formation found on the property. Volcanogenic Massive Sulphide (VMS) mineralization has also been found on the property, including anomalous showings of gold, copper, zinc and lead. The Farwell property also hosts gold and base metal anomalies and occurrences that the company intends to explore further.

The acquisition of the Farwell Property was completed in March of 2020. Under the terms of the agreement, Bold Ventures has the option to earn 100 percent interest in the Farwell claims by meeting a number of terms and conditions, including paying C$225,000 in cash option payments, issuing an aggregate of 1,650,000 common shares of Bold Ventures and completing a total of C$1,000,000 of exploration work on the claims over a four year period.

The most recent exploration conducted on the Farwell property was completed in 2008. Bold Ventures management believes there is additional potential in the under-explored areas of the property. In June 2020 Bold Ventures announced it had begun interpretation of an airborne electromagnetic and magnetic geophysical survey covering the Farwell project. The survey was conducted by Dighem Ltd. in 1987. Recent data compilation and geological interpretation generated by Bold Ventures’ exploration team has identified three areas within the claim group that exhibit the highest potential for further exploration, the Tundra Gold Horizon, the Koala Gold Area and the Farwell Sulphide Zone.



The Traxxin gold project is comprised of 151 claim cells and boundary cells totaling 2,224 hectares. The project is held in an even partnership between Bold Ventures and the Lac des Mille Lacs First Nation (LdMLFN). Under the joint venture between the two parties, Bold Ventures has been designated as the operator.

Bold Ventures Traxxin Gold Project Map

The Traxxin claim group is located 130 km west of Thunder Bay, Ontario. The project is road-accessible via Trans-Canada Highway 11 and includes infrastructure such as rail, power and an experienced mining workforce in the area.

Under the terms of the Option Agreement, Bold Ventures and the Lac des Mille Lacs First Nation have the option to earn a 100 percent interest in the property over a three-year period by paying the aggregate sum of C$150,000 cash, issuing an aggregate of 1,000,000 common shares of Bold Ventures and completing a total of C$250,000 of exploration work on the claims.

Project Highlights:

The main zone at the Traxxin gold project was discovered in 2017 and is located in the Marmion Lake Batholith, which hosts Agnico Eagle’s Hammond Reef deposit. The deposit is host to 4.5 Moz gold, including a measured and indicated resource of 208 Mt at 0.67 g/t gold (Agnico Eagle website, 2019).

Exploration conducted on the Traxxin Gold Project as recently as 2018 revealed a gold-bearing zone of at least 300 meters in strike length associated with a well-defined sheared quartz vein surface exposure from 15 to 30 m wide. The 2017 and 2018 diamond drill results reported by Benton Resources in a report published in 2019 include 4.76 g/t gold over 3.8 m, 1.06 g/t gold over 22.2 meters and 37.3 g/t gold over 1 meter.

The gold-bearing horizon at the Traxxin gold project is open along strike in both directions. The diamond drilling conducted on the property was generally limited to within 100 meters of surface. One exception, hole BED-17-022, was drilled to 150 meters in the central part of the zone and intercepted the zone where it remains open at depth.


The Wilcorp Gold Project consists of two contiguous properties located in McCaul Township. Comprised of a mineral claim owned 100% by Bold Ventures and four patented claims under option, the project has an area of 226 hectares and is located approximately 14 kilometers east of Atikokan, Ontario in the Thunder Bay Mining Division. Under an option agreement, Bold Ventures can earn a 100% interest in the patented claims at any time by making a $100,000 payment. An annual payment of C$8,000 is due in order to explore the four patented mining claims at Wilcorp.

Bold Ventures Wilcorp Property Map


Project Exploration

The exploration target at the Wilcorp property is an Archean lode-gold type deposit. The property hosts the Eagle Prospect, which was originally discovered in 1946 and is located in the western portion of the project area. Historical exploration was conducted on the property at the time, however, it was unable to be substantiated.

A 2012 IP Survey conducted on the Wilcorp property returned several untested new targets along trend of the Eagle prospect. A total of 14 anomalies were interpreted, prompting follow-up work including prospecting on multiple anomalous zones. A reconnaissance prospecting program was also conducted in 2012, targeting seven top-priority IP anomalies that were selected by Abitibi Geophysics. A total of 62 samples were taken from different areas of the property, including 16 samples that returned values greater than 100 ppb gold and 6 that returned gold values greater than 1,000 ppb or 1.0g/t gold.

Prospecting conducted on the Wilcorp property has revealed three target areas that were deemed worthy of follow-up work, the Eagle Prospect, Antler Shear Zone and Eastern Target. Combined with the Induced Polarization survey results, a number of diamond drill targets have been recommended. Moving forward, the company intends to detail and finalize the diamond drill targets at these locations.

Ring Of Fire

The Ring of Fire project is comprised of claims held by Bold Ventures and Rencore Resources Ltd. According to a merger completed in 2012, Rencore became a wholly-owned subsidiary of Bold Ventures. The claims on the property are divided into two groups, the 228 claims originally held by Rencore, and the 878 claims held by Bold Ventures.

Bold Ventures Rencore Ring of Fire Belt

The Rencore Ring of Fire claims are subject to an option agreement with a subsidiary of Dundee Corporation, which allows that company to earn a 33.33 percent interest in Rencore’s Ring of Fire activities by funding C$2.5 million in exploration work.

The 878 claims held by Bold Ventures comprise approximately 16,789 hectares that cover known airborne VTM geophysical anomalies. Similar to the Rencore claims, a subsidiary of Dundee Corporation held the option to earn a one third interest in these claims. This has been successfully accomplished. Upon development of access and infrastructure to the area, Bold Ventures intends to drill test a number of the high priority geophysical targets located within the claims.

Koper Lake

The Koper Lake project is comprised of four claims totaling 1,024 hectares that host a known chromite deposit, the Black Horse Occurrence. The Koper Lake Project is located within the Ring of Fire area and directly adjacent to the Eagles Nest nickel copper massive sulphide deposit in the mine permitting stage. Bold Ventures optioned the project from Fancamp Exploration Ltd. and then, in turn, optioned it to KWG Resources Ltd. who acts as the Operator of the project. By KWG fulfilling the terms of the Bold Ventures Option agreement with Fancamp to date, Bold Ventures has earned a 10% carried interest in the chromite mineralization and a 40 percent working interest in “all other metals”. Should KWG continue fulfilling Bold Ventures’ option terms with Fancamp to completion, Bold Ventures will earn a 20% carried interest in Chromite (Cr2O3) and an 80 percent working interest in “all other metals”.

Composite samples taken at spaced intervals throughout the massive chromite intersections returned average Cr2O3 grades of 43 and 45 percent respectively. Diamond drilling conducted in the spring of 2013 has provided the initial basis for a 43-101 inferred resource of 85.9 million tonnes of 34.5 percent Cr2O3.

Moving forward, Bold Ventures and exploration partner KWG are looking at the potential of conducting a feasibility study of the Black Horse Chromite Resource.

Bold Ventures’ Management Team

David Graham – President and CEO

Since 1986, David Graham has been President of R. Bruce Graham and Associates Ltd., a natural resource management and mineral consulting company that has served the natural resource sector since 1956. Mr. Graham has acted as a Director and/or senior officer of a number of private and public companies. Most recently, Mr. Graham acted as a Director and Vice President of Noront Resources Ltd. between October 2006 and January 2010. As a Director of Noront, Mr. Graham was part of the team that reviewed and approved the acquisition of the Double Eagle claims that led to the discovery of a number of mineral deposits in the James Bay Lowlands, dubbed “The Ring of Fire”. As Vice President Special Projects, Mr. Graham provided support to Noront management from the post-discovery stage through two additional management changes.

Rodger Roden – CFO

Mr. Roden is a Chartered Accountant with more than 25 years of industry experience. He has worked as Vice President of Finance/Chief Financial Officer with public and private companies in a broad range of industries. His experience includes all aspects of corporate finance, mergers, and acquisitions, IT implementations, restructuring, turn-around work, tax, and business systems and processes analyses/implementation. Currently, Mr. Roden provides CFO/consulting services to a number of publicly traded and private companies, primarily in the pre-production mining sector.

William Johnstone – Corporate Secretary

William R. Johnstone is the Company’s corporate counsel and is the Company’s Corporate Secretary. Mr. Johnstone has been a partner at Gardiner Roberts LLP since February of 2005 practicing in the areas of corporate and securities law. Mr. Johnstone is the Practice Leader of the firm’s Securities Law Group. Prior to that, Mr. Johnstone was the proprietor of Johnstone & Company, a boutique corporate, and securities law firm, for 12 years. Mr. Johnstone has been practicing law for 28 years. Mr. Johnstone is also a director and/or officer of six other TSX Venture Exchange listed companies.

Ian Brodie-Brown – Director & Consultant

Mr. Ian Brodie-Brown is an industry consultant and entrepreneur. Ian is a graduate of the University of Toronto and has many years of experience arranging venture capital for emerging companies, he specializes in arranging venture capital for the mining industry. Ian is the President and Chief Executive Officer of AurCrest Gold Inc., a TSX Venture listed junior resource exploration company. Ian is also a co-founder and President of Cathay Oil & Gas a private company with foreign resource assets and has spent a substantial amount of time in the international community through his work with this company.

Steve Brunelle – Director

Steve Brunelle is a graduate in Geology from Queen’s University with over 35 years’ experience in the resource industry. He is the Chairman and a director of Rio Silver Inc. listed on the TSX Ventures Exchange. Mr. Brunelle was a founder and Officer/Director of Corner Bay Silver, that discovered the Alamo Dorado Silver deposit in Mexico and was acquired by Pan American Silver. He was a founder and Officer/Director of Stingray Copper, which was acquired by Mercator Minerals for the El Pilar Copper deposit in Mexico. He presently sits on the Boards of several resource companies that are active in Canada and Peru.



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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Bold Ventures and seek advice from a qualified investment advisor.