Bold Provides Update on Farwell Gold and Base Metals Property
TORONTO, April 30, 2020 - Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") is pleased to announce that upon further review of the technical data related to the Farwell Gold and Base Metals Project located 55 km northwest of Wawa, Ontario (see Bold press releases date January 6, 2020 and March 26, 2020), the Company has expanded the property to encompass a total area of 7770 hectares or 19,200 acres. All claims are contiguous with the original Farwell claim group and are part of the Farwell Option Agreement. The additional claims were staked to cover favourable geology, geophysics and a mafic intrusive body mapped by the Ontario Geological Survey (Bennett and Thurston 1977) located along the southwest portion of the expanded claim group. The Farwell Gold and Base Metals property is host to several gold and base metal occurrences. Maps and project details can be viewed at https://www.boldventuresinc.com/exploration-projects/farwell-ontario/ .
The Wawa regional airborne geophysical survey flown by the Ontario Geological Survey in 1987 covers the Farwell claims. It shows a prominent magnetic signature and coincident electromagnetic anomalies extending from the Tundra Au-Cu Occurrence west through the Conductor ‘B' Showing and the Brown Lake Occurrence. This geophysical signature is coincident with significant gold values and indicates a potential gold bearing horizon over 2.5 km in strike length (see maps and project details at https://www.boldventuresinc.com/exploration-projects/farwell-ontario/ .
The Company would also like to report that Jim Glover CA has retired as a Director of the Corporation. Mr. Glover has served on the Board of Bold Ventures Inc. since 2010. The Company has benefited greatly as a result of Jim's guidance through what has been a challenging decade for the mineral exploration sector. Bold's management would like to thank Mr. Glover for his service and express its appreciation that he will continue on the Company's Advisory Board.
After final review, Bold's management has elected not to proceed further with the Traxxin Extension Gold Project.
The technical information found within this news release has been reviewed and approved by Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.
About Bold Ventures Inc.
The Company explores for Base and Precious metals in Canada. Bold has options to earn a 100% interest in the Farwell Gold Base Metals project located approx. 55km northwest of Wawa, Ontario and the Wilcorp Gold Project located 14 km east northeast of Atikokan, Ontario. Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 15 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The Company has also earned a 10% carried interest in all chromite resources and a 40% working interest in all other metals at the Koper Lake Project and has the option to earn an additional 10% carried interest in chromite and 40% of all other metals. The Koper Lake Project is located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage.
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"
David 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.