Toronto, Ontario–(Newsfile Corp. – February 12, 2018) – Bold Ventures Inc. (TSXV: BOL) (“Bold” or the “Company”) announces the acquisition of two separate claim groups located within the Georgia Lake Area Pegmatite field. The Jean Claim Group consists of 8 claims comprising 94 units covering an area of approximately 1,504 hectares (3,716 acres) and the Barbara Claim Group consists of 2 claims comprising 32 units covering an area of approximately 512 hectares (1,265 acres). The Company acquired the claim groups for staking costs and the retention by the Vendor of a 1% Gross Metal Royalty, half of which may be purchased for $500,000 and the Company retains a right of first refusal on the remainder of the Royalty.
The Bold property lies within the northern portion of the Quetico Subprovince (in the Superior Province of the Canadian Shield) near the southwest contact of the Beardmore-Geraldton Greenstone Belt. The Ontario Department of Mines mapped and documented the discovery of numerous lithium-bearing pegmatites in the Georgia Lake area during the period from 1956 to 1959. The work identified a number of pegmatite dikes and sills within the two claim groups. A systematic review of the geology and the historical work performed in the area indicates the potential exists to locate additional lithium bearing pegmatite dikes on Bold’s claim groups. A prospecting, mapping and sampling program has been recommended.
Rock Tech Lithium Inc. has been active in this region since 2010 and has completed over 12,100 m of diamond drilling. This work has led to the identification of a NI 43-101 resource consisting of 2.47 Mt grading 1.11% Li2O (Indicated) and an Inferred resource of 2.50 Mt grading 0.98% Li2O on the Nama Creek Zone. This resource is located approximately 7 km northwest of Bold Venture’s Jean claim group.
About Bold Ventures Inc.
In Ontario, the Company has recently optioned the Stover Gold Property covering approximately 20 kms of the Goudreau-Missanabie Shear Zone that is host to numerous past and present gold producers. At the Koper Lake Project, centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit, the Company has earned a 10% carried interest in the Blackhorse Chromite resource and a 40% working interest in all other metals with the opportunity to earn an additional 10% carried interest in the Black Horse chromite and an additional 40% working interest in all other metals. Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR). In Québec, Bold’s primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec.
The technical information in this news release was reviewed and approved by Gerald D. White, B.Sc., P. Geo., a qualified person (QP) for the purposes of NI 43-101.
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
“Richard E. Nemis”
Richard E. Nemis
Chairman of the Board
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.