Bold Ventures Inc. and KWG Resources Inc. Announce Drilling Results from Second Diamond Drill Program on Koper Lake Joint Venture in the Ring of Fire Northeastern Ontario
May 7 14
Bold Ventures Inc. and KWG Resources Inc. jointly announced the drilling results from the second diamond drill program on their Koper Lake Joint Venture in the Ring of Fire Northeastern Ontario, which is under option by Bold from Fancamp Exploration Ltd. In turn KWG has optioned the property from Bold. If KWG fulfills all of the optional commitments to earn the 100% working interest in the Koper Lake Property under the agreement with Fancamp, then, in the case of chromite resources, KWG would hold an 80% working interest and Bold would hold a 20% working interest in the development of the chromite resources in accordance with the Chromite Interest feasibility study required to be produced to earn the interest in the property. Furthermore, at the completion of the earn in requirements Bold would have an 80% working interest in any and all metals other than chromite and KWG would have a 20% working interest in any and all metals other than chromite. Drill results - Black Horse: Three holes, FN-14-040, 042 and 043, intercepted chromite mineralization confirming the continuity of the Black Horse chromite deposit. Also reported here is the assay results of drill-hole FNCB-13-031, a hole drilled during the 2013 program. This hole, drilled sub-parallel to the north-south boundary with the neighbouring Noront Resources property, crossed the boundary due to an unusually high degree of curvature. Noront took possession of all drill-core from that portion of the hole that was within their property. Noront proceeded to document the core and submit it for assay. These assay results were subsequently released to Bold and KWG. Hole FNCB-13-031 intersected 130.22 metres (427 ft.) of chromite mineralization, from 795.28 to 925.5 metres, in a well layered sequence of heavily disseminated, semi-massive and massive chromitite. This 130.22 metre interval has a weighted average grade of 25.31% Cr(2) O(3). It includes higher grade intervals, 44.81 metres, from 795.28 to 840.09 metres, grading 32.08% Cr(2) O(3); and 25.87 metres, from 869.2 to 895.07 metres grading 35.60% Cr(2) O(3). This intercept is 25 to 50 metres west of the claim boundary at a depth ranging from 710 to 830 metres from surface. Hole FN-14-040 intersected 129 metres (423 ft.) of massive chromite mineralization containing silicate clast, from 1053 to 1182 metres with an average grade of 37.63% Cr(2) O(3). This includes higher grade intervals of 70.5 metres (231 ft.), from 1111.5 to 1182 metres grading 42.02% Cr(2) O(3), and 19.5 metres (63 ft.), from 1111.5 to 1131 metres grading 45.78% Cr(2) O(3). This intercept is located at the midpoint of the known strike extent of the deposit in the vicinity of hole FN-10-26, at a depth of 1040 to 1185 metres (3,412 to 3,887 ft.) from surface. This hole confirms that chromite distribution transitions from being well layered in the southwest to consolidating as thick massive beds to the northeast. Hole FN-14-42 intersected 174.96 metres (574 ft.) of chromite mineralization, from 896.55 to 1071 metres, in a well layered sequence of heavily disseminated, semi-massive and massive chromitite. A 154.07 metre (505 ft.) interval from 901.07 to 1055.14 metres has an average grade of 25.04% Cr(2) O(3), including a 35.78 metre (117 ft.) interval from 918.99 to 954.77 metres with an average grade of 31.92% Cr(2) O(3). This intercept is 50 metres (164 ft.) east of the claim boundary at 845 to 995 metres (2,772 to 3,264 ft.) from surface. Hole FN-14-43 intersected 88.04 metres (288 ft.) of chromite mineralization, from 712 to 800.52 metres with an average grade of 24.71% Cr(2) O(3), in a layered sequence of heavily disseminated, semi-massive and massive chromitite. A 36.43 metre (119 ft.) interval, from 756.26 to 792.69, has an average grade of 36.43% Cr(2) O(3). Drill results; C-6 target, gold discovery: Three holes, FN-14-038, 039 and 041 tested the east-west gravity anomaly at the C-6 target area, one kilometer northeast of the Black Horse chromite deposit, for potential chromite mineralization. Hole FN-14-038 was collared south of the anomaly and drilled northwards where it intersected chromite bearing pyroxenites and peridotites from 40.62 to 214.22 metres. The chromite is irregularly dispersed as fine and heavy disseminations and short intervals of semi-massive chromite. Assays ranged up to 19.29% Cr(2) O(3) over 0.67 metres. Hole FN-14-039 was collared 100 metres (328 ft.) south of hole 038, and drilled northwards underneath hole 038. Chromite bearing pyroxenite was intersected from 170.9 to 302.05 metres with assays ranging up to 7.92% Cr(2) O(3) over one meter. The pyroxenite from 170.9 to 302.05 was subjected to shearing, alteration and veining resulting in a quartz-magnesite-tal
c breccia with occasional disseminated sulphides and fuchsite. From 223.97 to 224.47 metres, a 0.5 meter quartz vein containing 15% chalcopyrite, 1% pyrrhotite assayed 8.85 grams per tonne gold. A re-assay of this sample was 12.20 grams per tonne gold. A one meter sample from 198 to 199 metres was assayed in duplicate as a result of the QA/QC protocol. These two assays were 2.2 and 2.45 grams per ton gold. A re-assay of this sample was 3.25 grams per ton gold. This sample was of a sulphide poor quartz-magnesite-talc breccia. Hole FN-14-041 was collared 105 metres east of hole 039. It intersected the quartz-magnesite-talc breccia from 71.5 to 177.5 metres, all of which was assayed, the gold assay being 143 ppb. The remainder of the hole, to 363 metres, consisted of altered pyroxenite without chromite. The quartz-magnesite-talc breccia intersected in holes FN-14-039 and 041 is interpreted to be the extension of the same breccia zone intersected 15 times in the vicinity of the Black Horse chromite deposit and which is interpreted to be the extension of the gold bearing JJJ zone on the adjacent Noront property.
Bold Ventures Inc., Annual General Meeting, Jun 19, 2014
Apr 11 14
Bold Ventures Inc., Annual General Meeting, Jun 19, 2014., at 11:00 Eastern Daylight. Location: 15 Toronto Street, Suite 1000. Agenda: To receive the audited financial statements of the corporation for the financial year ended October 31, 2013 and the report of the auditors thereon; to elect the directors as nominated by Management; to appoint McGovern, Hurley, Cunningham, LLP as auditors of the Corporation for the ensuing year and to authorize the directors to fix their remuneration; to ratify the corporation's Stock Option Plan; and to transact such further and other business as may properly come before the said Meeting or any adjournment of adjournments thereof.