Bold Ventures Inc. (BOL: TSX.V) is an exploration company with three Canadian projects. The Company’s main emphasis is on two Nickel-Copper-PGE exploration properties located in the McFaulds Lake area ‘Ring of Fire’. In addition, Bold continues to actively investigate additional opportunities in the ‘Ring of Fire’ area.
- Option agreement with Noront Resources on the RING STAR project, located in the ‘Ring of Fire’, approximately 30 km north of Noront’s Copper-Nickel PGE discovery
- Agreement with Melkior Resources on the WEST NICKEL project, located approximately 20 km north of Noront’s Copper-Nickel PGE discovery
- 50% interest in 36,360 acres (14,544 hectares) in the ‘Ring of Fire’
- Management has proven success in the past including a previous joint venture with Richard Nemis and Noront Resources
- Tightly held share structure
- Management holds 51% of the capital stock
The Ring Star Nickel Project
In September 2007, Noront’s first significant discovery, known as Eagle One, yielded some exceptional grades, including 5.90% nickel, 3.10% copper, 2.87 g/t platinum and 9.78 g/t palladium over 68.3 metres (NOT-07-05) as well as 6.30% nickel, 2.80% copper, 1.90 g/t platinum and 10.20 g/t palladium over 46.2 metres (NOT-07-27). Subsequent drilling has continued to intersect high-grade mineralization and just recently, Noront announced the discovery of Eagle Two, a second nickel-copper massive sulphide occurrence situated 2 kilometres southwest of Eagle One.
Bold’s property is located approximately 30 kilometres directly north of Noront’s Eagle One discovery and covers an 8.4 square kilometre area of the Ring of Fire. The Company’s management team is encouraged by the proximity to the Eagle One significant discovery and believes there is potential for this property to also host mineralization. The project is located over a large gravity anomaly which is of sufficiently large size to suggest that it is a mafic/ultramafic body that could be the central intrusive source for the massive nickel/copper mineralization discovered by Noront.
In order to acquire its interest in the property, Bold is required to:
- Make an initial payment to Noront of $120,000 or issue to Noront a total of 240,000 common shares of Bold, on both parties receiving all required approvals, including any TSX Venture Exchange approval and board of director approval of the option agreement;
- Incur total exploration expenditures on the property of $2.1 million over a three year period (of which $600,000 must be expended in the first year);
- Make total cash payments to Noront of $240,000 within two years of receiving the above-noted approvals of the option agreement (of which $120,000 must be paid by the first anniversary, and any portion of the total of $240,000 may be satisfied at the option of Noront, by the issuance to Noront of up to 400,000 common shares of Bold at a deemed price of $0.50 per share).
The West Nickel Project
Bold Ventures has entered into an agreement to acquire a 50% interest in the West Nickel property, which consists of approximately 909 claim units totaling 14,544 hectares (36,360 acres) and is located 20 kilometres due north of the Noront Double Eagle discovery and 10 kilometres west of the initial Noront/South Hampton “Ring of Fire” claims.
The West Nickel claim blocks cover the majority of a significant gravity anomaly located immediately west central of the “Ring of Fire” magnetic trend. The gravity anomaly is of sufficiently large size and amplitude to suggest that it was caused by mafic/ultramafic bodies that could be the central intrusive source for the massive nickel/copper mineralization in the area. The major nickel camps of the world such as Sudbury, Thompson, Raglan and Norilsk have coincident or adjacent regional gravity anomalies as well as magnetic signatures. The presence of mafic ultramatic rocks and gravity anomalies present a promising exploration environment.
- Gary F. Zak – President and CEO
- Kenneth C. Phillippe – CFO and Director
- Jerry L. Bulman – Chairman and Director
- William E. Schmidt – Director
- Christopher I. Dyakowski – Director
- Chad S. Belenky – Director
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