Bold Ventures discovers new gold zone at Burchell gold and copper property, Ontario
Bold Ventures Inc. [TSXV: BOL] reported that it has received assays up to 56.9 g/t gold (Au) from a newly identified zone at its Burchell property, northwestern Ontario, 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. 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.
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 metres across strike to the northwest, and at least 80 metres across strike to the southeast. The package of rocks occupies a prominent northeast-trending magnetic low which may be traceable for up to 10.4 km across the property, possibly representing a geological structure.
The Burchell Project 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 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.
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. 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.
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 metres.
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.
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 metres across strike to the northwest and at least 80 metres 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.
“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.
Bold Ventures is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of northern 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.