Business
Bold Ventures Acquires Stover Gold Property in Wawa Gold Corridor
TORONTO, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Bold Ventures Inc. (TSX.V:BOL) (“Bold” or the “Company”) is pleased to announce the signing of a letter of intent giv
About this update from Bold Ventures Inc.
[{"type":"text","content":"TORONTO, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Bold Ventures Inc. (TSX.V:BOL) (“Bold” or the “Company”) is pleased to announce the signing of a letter of intent giving Bold the option to acquire a 100% interest in the Stover Gold Property. The property is located approximately 85 km northeast of Wawa, Ontario on the Trans-Canada Highway and is road accessible. For property details go to: Click Here The property consists of 28 staked claims comprising 406 units totaling approximately 6,496 hectares or 16,051 acres occupying portions of six townships (Stover, Rennie, West, Meath, Riggs and Glasgow). The Stover Property lies along a 20 km segment of what is known locally as the Goudreau–Missanabie Shear Zone, which is part of the much more extensive Larder Lake–Cadillac shear zone. The eastern portion of this major structure is host to several gold camps and deposits in the Abitibi Subprovince such as Kirkland Lake, Cadillac and more recently Goldcorp’s Borden Lake gold deposit, located 75 km southeast of the Stover Property near Chapleau, Ontario. Approximately 20 km west of the property the Goudreau Lake Shear Zone hosts Alamos Gold’s recently acquired Island Gold Mine and Argonaut Gold Inc.’s Magino Deposit in addition to several small past producers. The past producing Renabie Mine is located proximal to the shear zone and 5 km east of the Stover claims. Gold was first discovered in this area in the late 1800s within the southeastern portion of Riggs Township, southwest of the current property. Many of the known gold occurrences on the Stover Property were discovered in the 1940s. However, exploration work since this time has been sporadic and isolated. There has never been an integrated systematic exploration program conducted across this extensive claim group area. The area covered by the Stover claims includes known gold occurrences and exhibits several styles of mineralization. An examination of the assessment files on record with the Ontario Ministry of Northern Development and Mines indicates three main styles of mineralization (historical assay values are also included): Lode-gold quartz veins including the Guarnaccio Occurrence that yielded 19.9 gpt Au over a 1.8 m wide trench sample and the Pileggi West Occurrence that was reported to host grab samples ranging up to 11.2 gpt Au. “Hemlo S...