Bold Ventures receives exploration permits for Burchell Gold Copper Project, Ontario
Bold Ventures Inc. [TSXV: BOL] reported that it has received two exploration permits for work at the Burchell Gold Copper Project. The applications were made as a result of recent exploration work in and around the “111 Zone” gold discovery and the strike extension of the Moss Trend on the adjacent Moss Gold Property of Goldshore Resources Inc. to the west. The Burchell Property is located approximately 100 km west of Thunder Bay, northern Ontario.
The permits contemplate line cutting, mechanical stripping, geophysical surveys and diamond drilling. The Company anticipates a mechanical stripping program in the coming weeks at the 111 Zone. Based on those results, a diamond drilling program is planned to target the 111 Zone and the northwest corner of the Property, where an MMI(TM) soil sampling survey earlier this summer identified numerous polymetallic anomalies along strike from the Moss Gold Deposit of Goldshore Resources Inc.
The company would like to highlight recent news pertaining to the Black Horse Chromite Deposit on the Koper Lake (Black Horse) Project in the Ring of Fire, of which Bold Ventures owns a 10% carried interest to production. The Canadian Chrome Company Inc. [OTC Pink: KWGBF], formerly KWG Resources Inc., which owns the remaining interest, recently announced a $25 million financing to drill deep geophysical targets at the chrome discovery, which they postulate is the fault-offset twin of the Black Thor chromite deposit.
Bold’s Koper Lake Project in the Ring of Fire: 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.
The Black Horse is contiguous with the Blackbird Chromite deposits owned by Ring of Fire Metals (formerly Noront Resources Inc.). The Koper Lake claims are located approximately 300 m from their Eagle’s Nest Ni-Cu Massive Sulphide Deposit that is in the permit acquisition stage. Chromite, nickel and copper are critical minerals that will play an important role in the electrification plans of Ontario and North America. The Company is encouraged by these ongoing developments in this emerging critical mineral mining camp.
The environmental assessment process for all-weather road access to the Ring of Fire is being developed as three proposed road projects: the Northern Road Link, the Marten Falls Community Access Road and the Webeque Supply Road.
Bold Ventures management believes its 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).
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.
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