Bold Ventures Inc. (TSXV:BOL) (the ‘Company’ or ‘Bold’) is pleased to announce that it has made the final cash payment of $40,000 to complete the Traxxin Gold Project (the ‘Project’) option agreement. All requirements of the option agreement have now been fulfilled by Bold to acquire 100% working interest in the Project. The Project is subject to a 2% NSR in favour of the vendor. The Company can purchase a 1% NSR for the payment of $1 million and has the right of first refusal with respect to the remaining 1% NSR
The Company reports that it recently staked 34 single-cell claims adjoining the Traxxin Property to the northeast in order to cover northeast-trending topographical and magnetic lineaments which could correspond to the strike extension of the Traxxin shear zone or subparallel shears which may also be prospective for gold mineralization.
About the Traxxin Extension Joint Venture
In April 2017, Lac des Mille Lacs First Nation (LDMLFN) and Bold entered into a joint venture to explore the northeastern extension of the Traxxin Gold discovery. Pursuant to the Traxxin Extension Joint Venture Agreement, LDMLFN has the right to earn up to a 50% interest in the Traxxin Gold Property from Bold by paying up to 50% of the cash option payments, 50% of the expenditure requirements and reimbursing Bold for 50% of the value of the shares issued pursuant to the Option. If the Option is earned and both parties maintain their interest in the Traxxin Gold Property, Bold and LDMLFN will form a joint venture for the further exploration and development of the Traxxin Gold Property.
About the Traxxin Gold Project
The Company completed the first phase of drilling at the Traxxin claim group in 2021. That program produced what management believes is the most important drill intersection to date from over thirty drill holes. Hole BV-21-04 encountered 3.6 g/t Au over 12.3 m below the previous drilling at the Main Zone (see Bold press release dated April 12, 2021).
The Traxxin claim group is located 130 km west of Thunder Bay, Ontario. The claims are road accessible via TransCanada Highway 11. Local infrastructure includes rail, power and an experienced mineral exploration workforce and mining supply, all located within hours of the property.
The Traxxin Property is currently permitted until September 2026 for anticipated linecutting, geophysical surveying, sampling and diamond drilling.
The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., Vice President, Exploration for the Company and a qualified person (QP) for the purposes of NI 43-101.
About Bold Ventures Inc.
The Company explores for Precious, Battery and Critical Metals in Canada. 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.
For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.
‘Bruce A MacLachlan’
Bruce MacLachlan
President and COO
‘David B Graham’
David Graham
President and COO 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
View the original press release on accesswire.com
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