TORONTO, ON / ACCESSWIRE / September 9, 2020 / Bold Ventures Inc. (TSX.V:BOL) (the “Company” or “Bold“) is pleased to announce that a prospecting crew has been mobilized to the Farwell Gold and Base Metals Project located approximately 55 km northwest of Wawa, Ontario.
The initial work will take place along the Tundra Gold Horizon (“TGH”) in the eastern portion of the property.
The TGH is located along the eastern extension of the Iron Lake Deformation Zone and co-incident iron formation. Historical exploration has identified 3 gold-copper occurrences – Tundra, Conductor ‘B’ and Brown Lake occurrences – in sheared sedimentary-volcanic host rocks along this easterly trend. Previous sampling identified samples grading up to 7.5 g/t Au and 1.58% Cu (Campbell 2010). Each of these sites and the surrounding bedrock exposures, will be prospected, mapped and sampled in detail by Bold’s crew.
Two additional target areas will be carefully examined and sampled. They include the centrally located Farwell Sulphide Zone (“FSZ”) and the western Koala Gold Area (“KGA”). (See the Farwell Bedrock Geology and Mineral Compilation Map at www.boldventuresinc.com ).
The FSZ is centered on 2 high-grade copper occurrences discovered in the late 1960’s, known as the Bibis Prospect and the Burrex Cu showing. Historical diamond drilling in this area returned assay results up to 1.47% Cu over 5.2 m in sheared, silicified metavolcanic host rocks. Ontario Geological Survey grab samples collected from these same occurrences assayed up to 5.58% Cu and 20.5 g/t Ag (Bennett and Thurston 1977).
The KGA hosts 3 known gold occurrences from exploration work conducted in the late 1980’s. Discoveries included diamond drilling intersections up to 12.8 g/t over 1.52 m and soil geochemical survey samples up to 557 ppb Au in altered mafic volcanic rocks and highly sulphidized iron formation (White 1987).
The Farwell claims are road accessible via the Paint Lake Rd. (Eagle River Mine service road) and consist of 103 Cell claims, 6 Multi-Cell claims and 6 Boundary claims comprising approximately 7,770 ha or 19,200 acres. Wesdome Gold Mines Mishi Open Pit operation and the Magnacon Mill, both part of the larger Eagle River Complex that includes the Eagle River underground gold mine, lie 5 km south of the Farwell claim group. The Eagle River Mine is situated approximately 25 km to the south of the subject claims
Shares for Services
The Company wishes to announce that, further to its Press Release of July 21, 2020, it has agreed to issue 125,000 common shares of the Company to Dig Media Inc., dba Investing News Network (“INN“) in settlement of advertising and investor awareness services provided by INN to the Company pursuant to the shares for services program for the period ending September 8, 2020 at a price of $0.06 per share, subject to regulatory approval.
Please visit the Bold website at www.boldventuresinc.com and see our recent news and project information.
About Bold Ventures Inc.
The Company explores for Gold and Base 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 energing multi-metals district dubbed the Ring Of Fire region, located in the James Bay Lowlands of Northern Ontario
For additional information about Bold Ventures and our projects please visit www.boldventuresinc.com or contact Bold Ventures Inc. at 416-864-1456.
“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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