Business
Bold Ventures Receives Traxxin Exploration Permit - Provides Further Disclosure of Amendments to Farwell and Burchell Property Option Agreements and Agrees to Issue Shares for Services
TORONTO, ON / ACCESSWIRE / October 3­­­­­­, 2023 / Bold Ventures I...
About this update from Bold Ventures Inc.
[{"type":"text","content":"Bold Ventures Receives Traxxin Exploration Permit - Provides Further Disclosure of Amendments to Farwell and Burchell Property Option Agreements and Agrees to Issue Shares for ServicesTORONTO, ON / ACCESSWIRE / October 3­­­­­­, 2023 / Bold Ventures Inc. (TSXV:BOL) (the \"Company\" or \"Bold\") announces that it has received a new exploration permit to allow for future work at the Traxxin Gold Project. Following on to the original permit that was issued in September 2020, this permit expires in September of 2026 and anticipates line cutting, geophysical surveys, sampling and diamond drilling.About the Traxxin Gold ProjectThe 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. A 10 km long geophysical survey to track the Main Zone structure to the north is planned for early 2024. Based on these results, a phase 2 drilling program will be developed to extend the Main Zone to the northeast and at depth.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.Burchell ProspectingBold's field crew has completed its work at the Burchell Battery and Precious Metals Project that was carried out during the month of September. This phase of work followed up on the interpretation of two historical airborne surveys carried out by Scott Hogg and Associates Geophysical Consultants Ltd. (SHAG). The field crew prospected a number of the locations of interest identified in the SHAG report (see Bold press release dated March 6, 2023) and completed the first phase coverage of the overall claim group.Shares for ServiceFurther to its press release dated July 6, 2023, Bold has agreed to issue 184,615 common shares of the Company at a price of $0.065 to Dig Media Inc., dba Investing News Network (\"INN\") in settlement of advertising services provided by INN to Bold for the period July 7, 2023 to October 1, 2023, subject to regulatory approval. The securit...