Bold Ventures Completes Another VTEM Airborne Survey and Stakes Claims in the Ring of Fire Area of Northern Ontario
TORONTO, ONTARIO -- (Marketwire) -- 01/10/13 -- Bold Ventures Inc. (TSX: BOL) ("Bold" or the "Company") wishes to announce that the Company has staked 26 claims totalling 414 units, comprising an area of approximately 6,624 hectares (16,526 acres). All of these claims are located in the James Bay Lowlands of northern Ontario and are located to the north and west of the main Ring of Fire area. Please visit our web site at www.boldventuresinc.com to view a location map of these claims. All of the claims were staked to cover anomalous survey results that were encountered in the fall of 2012 as described below.
In September and October of 2012 an 896 line km helicopter borne electromagnetic and magnetic (VTEM system) survey over five discrete survey blocks was carried out for the Company by Aeroquest (a wholly owned subsidiary of Geotech Ltd.) of Aurora Ontario. A review of the VTEM data set by Scott Hogg & Associates, geophysical consultants, and James Mungall PhD, P. Geo. indicates that drill testing of a number of the anomalies within the five survey blocks that were covered is warranted. As many as 13 priority targets have been recommended for drill testing within the claims. The Bold technical team is currently reviewing the data and planning a program of follow up drilling later this year.
Current Bold management and its team of consultants have had valuable and productive experience in the Ring of Fire. During their previous involvement with Noront Resources Ltd. in 2007, they were responsible for the Eagle One, Eagle Two and AT12 magmatic massive sulphide discoveries as well as the Blackbird high-grade chromite resources and the Thunderbird vanadium showing, all located within the Noront Resources claims in the Ring of Fire area of the James Bay Lowlands, Ontario.
It is the Company's belief that the key to finding elephant sized mineral deposits is persisting with the strategy of systematically surveying in under explored areas with cutting edge technology.
On Behalf of the Board of Directors
Richard Nemis, President and CEO
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.
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.
Contacts:
Bold Ventures Inc.
Richard Nemis
President and CEO
416 864 1456
416 864 1443 (FAX)
www.boldventuresinc.com
