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Bold Ventures Commences Airborne Magnetic Survey at Stover Gold Property
TORONTO, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Bold Ventures Inc. (TSX-V:BOL) (“Bold Ventures” or the “Company”) is pleased to announce that further to its press re
About this update from Bold Ventures Inc.
[{"type":"text","content":"TORONTO, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Bold Ventures Inc. (TSX-V:BOL) (“Bold Ventures” or the “Company”) is pleased to announce that further to its press release dated November 16, 2017 it has signed the formal Option Agreement to acquire a 100% interest in the Stover Gold Property. The Company is also pleased to announce that it has commenced a high-resolution airborne magnetic survey. The Heli-GT 3-axis magnetic gradiometer survey will assist in establishing the technical database, compilation work and exploration program for the project. The Stover Property lies along a 20-km segment of what is known locally as the Goudreau Lake – Missinaibi Shear Zone, which is part of the much more extensive Larder Lake – Cadillac shear zone. 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. Bold Chairman Richard Nemis commented that: “we are delighted to have optioned this large consolidated land position along the Goudreau Lake-Missinaibi Shear zone. The area covered by these claims has never been systematically explored and the historical production numbers and current resources hosted by this shear zone to the west of the Stover property are impressive. The property geology and historical gold values within the property support this approach and we are excited to be exploring it.” 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 Style” quartz-eye sericite schist such as the Pileggi Southeast Occurrence yielding a grab sample assaying 27.4 gpt Au and the Pileggi Main trench that recorded values of 1.3 gpt Au over 29 m and 1.5 gpt Au over 12 m. Iron Formation-hosted gold ...