TORONTO, ONTARIO--(Marketwired - Sep 30, 2014) - Bold Ventures Inc. (TSX VENTURE:BOL) ("Bold" or the "Company") is pleased to report that it has acquired an additional 14 claims located on the north side of its Lac Grasset claim group. These claims were acquired to sufficiently straddle the Grasset Deformation Zone that is also dubbed the Sunday Lake Deformation Zone by Balmoral Resources Ltd. ("Balmoral") This regional structure is interpreted to be a continuation of the Detour Lake gold trend from Eastern Ontario into Western Quebec. Bold's Lac Grasset property now consists of 53 claims that comprise approximately 2,942 hectares or 7,271 acres in total (see property map).
Over the last 4 years work by Balmoral Resources Inc. has yielded numerous gold and base metal discoveries that are proximal to this regional trend and have resulted in Balmoral staking and/or acquiring a vast land position straddling the Grasset/Sunday Lake Deformation Zone. Balmoral has been systematically working its way east along this trend and in doing so has been making gold and base metal discoveries that are in varying stages of exploration.
On March 5, 2014 Balmoral announced a new base metal discovery located approximately 35 km to the west of the Bold, Lac Grasset claims. This discovery is located at the base of an ultramafic suite of rocks, proximal to the Sunday Lake Deformation Zone (see Balmoral Resources Ltd. news release dated March 5, 2014). Subsequent to this Nickel-Copper-Platinum Group Elements discovery, Balmoral released results of additional diamond drilling that highlighted: "102.86 metres grading 1.03% Ni + Cu and PGE's" and "High-grade core continues throughout including 15.84 m @ 2.51% Ni and 9.8 metres @ 2.73% Ni in deepest hole reported to date" (see Balmoral news release dated August 18, 2014).
Recently, both Bold Ventures and Balmoral Resources Ltd acquired additional claims to the north of Bold's Lac Grasset property. Balmoral has also acquired claims to the south, west and east surrounding the original Bold Ventures Lac Grasset property resulting in the current claim ownership (see regional map).
Bold Ventures Lac Grasset Project
Bold Ventures staked its Lac Grasset property in 2011 as part of an acquisition of four Quebec properties that were staked to cover mineral rights prospective in base and precious metals (visit the Bold Ventures web site at www.boldventuresinc.com for additional project details). Between 2011 and 2013, Bold Ventures carried out an historical data compilation and airborne VTEM Electromagnetic surveys followed up by a prospecting and sampling program on this 100% owned property. As a result of this work Bold crews have identified an area of anomalous Platinum Group Elements (PGE's) located west of a new VTEM anomaly indicative of possible sulphide mineralization. The anomalous PGEs are associated with a mafic to ultramafic suite of rocks.
For additional history, geology and project details here.
Bold's priority target area for follow up comprises VTEM anomalies and a geological environment favorable for several mineralization types such as Noranda-Type massive sulphides, ultramafic-hosted disseminated and/or massive sulphides with possible PGEs and low or high sulphide PGE mineralization.
Bold's management is of the opinion that the historical drilling did not test the location of the new geophysical anomalies yielded by the recent VTEM survey or the ultramafic rocks that have been mapped near the VTEM anomalies.
It is the Company's plan to further enhance the drill targets that are present on the Lac Grasset property in advance of a drilling program it plans to carry out in 2015. Please see the accompanying maps and visit our web site for further project details at www.boldventuresinc.com.
Robert J. Tremblay, P.Geo., Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has reviewed and approved the technical information in this Press Release. Mr. Tremblay acts as a consultant to Bold Ventures Inc. and is a member of the Company's advisory board.
Visit our website at: www.boldventuresinc.com
On behalf of the Board
Richard E. Nemis, President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.