Bold Ventures posts Burchell gold copper project news, Ontario
Bold Ventures Inc. [TSXV: BOL] highlighted news from the area of its Burchell gold and copper property while anticipating channel sampling results from its recent mechanical stripping program at Burchell. Nearly 300 channel samples are currently being analyzed, with sampling ongoing.
Gold X2 Mining Inc., which holds the Moss Project adjoining Burchell to the west, recently announced a definitive agreement to acquire Kesselrun Resources Ltd., their neighbour to the west where they have recently been exploring the Huronian Gold Project. The acquisition reflects Gold X2’s strategy of consolidating their land position in the western portion of the Shebandowan Greenstone Belt.
Bold management shares the belief in the district’s significant potential for new discoveries. During the past summer, Bold identified a 2.9 km trend of gold mineralization in rock sampling.
Following this, the exploration team has recently exposed and sampled bedrock in eight different locations along a 900-meter portion of this 111 Gold Trend. All eight stripped areas have never been explored in the past, demonstrating the untapped potential of the area and the Burchell claim group.
Gold X2 also recently announced the delineation of a 5 km trend of gold mineralization south of the Moss Trend, outlining several targets which mirror the geochemical and geophysical fingerprints of the Moss Gold Deposit. Based on this interpretation, it appears that the anomalous in gold Deaty Trend strikes northeast towards the Burchell Gold and Copper Project boundary. The southwest end of the 111 Gold Trend is located within 800 m of the west boundary, where a new gold showing named the Moosehead Zone was identified earlier in the summer, hosted in sheared quartz feldspar porphyry, with one grab sample returning 371 ppb.
Further north of the Moosehead Zone, historic trenches have reportedly yielded a chip sample of 42.2 g/t Au over 0.6 metres (Osmani 2017), approximately 600 metres from the western property boundary. The Hermia Copper Prospect is located approximately 900 metres from the Burchell west boundary.
While the results of the Gold X2 work adjacent to Burchell is very encouraging it does not indicate that the same conditions exist within the Burchell claims.
Bruce MacLachlan, President and COO of Bold, commented, “The activity by Gold X2 and our own exploration programs this year mark an exciting new era for the western Shebandowan Greenstone Belt, especially with gold prices surging to all-time highs. We are anticipating results from our channel sampling program and our next step will be to prepare for a drill program.”
The Hermia Cu 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 was carried out over a strike length of 2.8 km from 1964 to 2008. Intersections in core include 0.8% Cu over 4.3 metres, 0.25% Cu over 51.9 metres, and 1.68 g/t Au over 1.45 metres.
A diamond drilling data compilation is currently ongoing for the Burchell Property, which will inform the next steps for exploring the Hermia Cu Prospect, which to date hosts the most significant copper mineralization on the property.
Bold holds a 10% carried interest (through to production) in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9 Mt grading 34.5% Cr2O3 at a cut-off of 20% Cr2O3 (KWG Resources Inc., NI 43-101 Technical Report, Aubut 2015). Bold also holds a 40% working interest in all other metals found within the Koper Lake Project and has a Right of First Refusal on a 1% NSR covering all metals found within the claim group.
Bold Ventures also announces the acquisition of eight new claims adjoining its Joutel project in Québec. The new claims cover an additional VTEMTM anomaly identified by Bold’s 2011 airborne survey. The project now comprises 49 claims covering 2714 hectares.