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Bold Ventures Applauds Progress at Ring of Fire
Provides Project Update TORONTO, ON / ACCESSWIRE / December 12, 2022 / Bold Ventures Inc. (T...
About this update from Bold Ventures Inc.
[{"type":"text","content":"Bold Ventures Applauds Progress at Ring of FireProvides Project UpdateTORONTO, ON / ACCESSWIRE / December 12, 2022 / Bold Ventures Inc. (TSXV:BOL) (the \"Company\" or \"Bold\") is pleased to provide the following project update. Of special note is the signing of a Memorandum of Understanding (MOU) between Webeque First Nation and Ring of Fire Metals (formerly Noront Resources and Wyloo Metals). A link to the press release is posted on the Bold website here. The MOU outlines a framework for collaboration on proposed development in the Ring of Fire. The MOU also details how the two parties will work together to progress ongoing exploration activity in the region as well as negotiations on a partnership agreement for the proposed Eagle's Nest mine.Bold owns a 10% carried interest in the Black Horse Chromite NI 43-101 Inferred Resource of 85.9Mt grading 34.5% Cr2O3 at a cut-off % of 20% Cr2O3. Bold also owns a 40% working interest in all other metals found within the Koper Lake claims and has a Right of First Refusal on a 1% NSR covering all metals found within the claim group. The Black Horse is contiguous with the Blackbird chromite deposits owned by Ring of Fire Metals. The Koper Lake claims are located approximately 300 m from the Eagle's Nest Deposit. The Company is encouraged by these ongoing developments in this emerging mining camp.The Traxxin Gold Project (Au)During the Company's 2021 diamond drilling program, the main gold bearing structure was intersected in all four holes drilled beneath the Main Zone. Hole BV-21-04 intersected 3.57 g/t Au over a core length of 12.29 m (See Bold news release dated April 12, 2021). The focus of the next field program will involve a ground geophysical survey to track the Main Zone to the north. Based on these results, a drill program to expand the main zone to the north and at depth below hole BV-21-04, will be generated. An inclined long section depicting the Main Zone and the location of hole BV-21-04 may be found hereBurchell Gold-Copper Project (Au, Cu)The Burchell prospecting program was recently completed and the next phase of exploration work is being planned. Bold is pleased to have acquired the 2006 VTEM survey data base commissioned by Mengold Resources Inc., that covers a portion of the west side of the claim group. Acquiring this data will assist in determining if any additiona...