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Bold Ventures Announces Drill Program at Traxxin Gold Project
TORONTO, ON / ACCESSWIRE / December 9, 2020 / Bold Ventures Inc. (TSXV:BOL) (the " Company...
About this update from Bold Ventures Inc.
[{"type":"text","content":"Bold Ventures Announces Drill Program at Traxxin Gold ProjectTORONTO, ON / ACCESSWIRE / December 9, 2020 / Bold Ventures Inc. (TSXV:BOL) (the \"Company\" or \"Bold\") is pleased to announce that it has retained Forage M3 Drilling Services Inc. for Bold's initial diamond drill program at the Traxxin Gold Project located 130 km west of Thunder Bay, Ontario. The drill program is scheduled to begin during the first week of January 2021.Prospecting and sampling, by the current vendors of the Traxxin claims, began in 2011 and culminated in the 2016 discovery of a high grade quartz vein hosting visible gold (VG). Grab sample assays for gold ranged from anomalous to 1281 g/t Au (41 oz/t Au) (Sims 2019).A follow up exploration program in 2017 consisted of geological and geophysical surveys, trenching and sampling followed by diamond drilling. The drill program was successful in locating the Main Zone mineralization and tracing it over a strike length of 300 m. Of the eighteen diamond drill holes completed over the Traxxin main zone, only 3 holes penetrated depths in excess of 150 m (BED-17-017, BED-17-021 and BED-18-022). It remains open in all directions.In August of 2020 Bold Ventures received formal approval of the Traxxin Claims Option Agreement and in September of 2020 the Company received an exploration permit allowing for diamond drilling, trenching, sampling and line cutting.Bold's drilling program is designed to test beneath the \"Main Zone\" (see Bold news releases dated August 24, 2020 and October 14, 2020 and on the Traxxin Gold Project page at www.boldventuresinc.com ).Traxxin Gold Project HighlightsRoad-accessible property close to major transportation corridor (Hwy 11)A well-defined gold-bearing structure along a northeast splay of a major fault zone (Quetico Fault)Main zone located in the Marmion Lake Batholith, host to the Agnico Eagle's Hammond Reef deposit of 208 Mt @ 0.67 g/t (measured and indicated) representing 4.5 Moz Au (Agnico Eagle website 2020)Recent trenching and diamond drilling (2018) have identified a gold-bearing zone of at least 300 m in strike associated with a well-defined sheared quartz vein surface exposure from 15 to 30 m wideDiamond drilling results include 4.76 g/t Au over 3.8 m (Hole BED-17-016), 1.07 g/t Au over 22.2 m (Hole BED-17-005) and 37.3 g/t Au over 1 m (BED-17-003) (Sims 2019)The gold be...