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Bold Ventures Signs Letter Agreement to Acquire the Farwell Gold and Base Metals Property and Updates Projects
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About this update from Bold Ventures Inc.
[{"type":"text","content":"Bold Ventures Signs Letter Agreement to Acquire the Farwell Gold and Base Metals Property and Updates ProjectsNot for distribution to U.S. Newswire Services or for dissemination in the United StatesTORONTO, ON / ACCESSWIRE / January 6, 2020 / Bold Ventures Inc. (TSXV:BOL) (the \"Company\" or \"Bold\") is pleased to announce that after an extensive review of exploration projects over the past six months it has signed a letter agreement to option the Farwell Gold and Base Metals property.The Farwell Property is located approximately 55 km northwest of Wawa, Ontario. The claims are road accessible and consist of 103 Cell claims, 6 Multi-Cell claims and 6 Boundary claims comprising approximately 3993 ha or 9867 acres. Wesdome Gold Mines Mishi Open Pit operation, part of the larger Eagle River Complex that includes the Eagle River underground gold mine, lies 5 km south of the Farwell claim group. The Eagle River Mine is situated approximately 25 km to the south of the subject claims.The claims are host to several gold and base metal anomalies and occurrences that have yet to be fully explored. The latest recorded exploration work on the property occurred in 2008.The Farwell property exhibits several favorable exploration characteristics. It is a large road-accessible property in a proven gold camp with gold-bearing quartz veins in iron formation along the western extension of a major deformation zone. The presence of deformed ‘Timiskaming' style conglomerates along the gold mineralization trend (i.e. Kirkland Lake, Geraldton) is an attractive exploration target. Volcanogenic Massive Sulphide (VMS) mineralization consisting of anomalous copper (Cu), zinc (Zn), lead (Pb) and gold (Au) is associated with a mafic to felsic volcanic sequence.The Wawa Area airborne geophysical survey flown by the Ontario Geological Survey in 1987 (Maps 81012 and 81013) shows a prominent magnetic signature and coincident electromagnetic anomalies within the claim group. Combined with historical rock sampling, geological mapping and geochemical surveys indicate the iron formation and associated shearing extend through the northern part of the Farwell Property. Grab samples collected by Tundra Gold Mines in1985 from the northeast part of the Farwell claims returned values of 1.6% Cu and 7.5 g/t Au (Campbell 2010).The search for base metals in the 1960'...