Toronto, Ontario--(Newsfile Corp. - October 16, 2018) - Bold Ventures Inc. (TSXV: BOL) ("Bold" or the "Company") is pleased to announce the results of its initial prospecting, sampling and reconnaissance work at the J&B Lithium Project. The company completed prospecting and reconnaissance over the central and eastern portion of the Jean claim group. A total of 16 samples were collected and sent to AGAT Laboratories in Thunder Bay for lithium and rare earth element analysis. Results from 9 anomalous samples of granite pegmatite bedrock exposures ranged from 0.002% Li20 to 0.019% Li20. Two samples from a large angular pegmatite boulder, located in the central portion of the property, were observed to contain approximately 15% spodumene with crystals up to 8 cm long. These samples returned 0.764% Li20 and 0.685% Li20. The remaining 5 samples did not return significant values. The granite pegmatite outcrops contain varying amounts of mica, medium to coarse albite, feldspar, quartz, apatite, spodumene and lepidolite.
This initial reconnaissance, prospecting and sampling work identified three areas recommended for stripping, trenching and detailed channel sampling in order to locate possible drill targets. In addition, detailed prospecting and sampling is planned for the western portion of the Jean claims.
The J&B Lithium Project is located in the Beardmore area of Northwestern Ontario, approximately 145 km northeast of the city of Thunder Bay. The property consists of two groups of claims (Jean and Barbara claim blocks), representing 167 cell and boundary claims (3056 ha), in the lithium-rich Georgia Lake pegmatite field southeast of Lake Nipigon.
The Bold Ventures Jean claims are contiguous with Rock Tech Lithium Inc.'s Parole Lake Property that hosts an historical resource of 1.689 Mt @1.30% Li2O (see Bold news release dated August 15, 2018). Located 7 km northwest of Bold's claims is Rock Tech Lithium's Nama Creek Project that hosts a NI 43-101 Measured resource consisting of 1.89 Mt grading 1.04% Li2O, an Indicated resource of 4.68 Mt of 1.00% Li2O and an Inferred resource of 6.72 Mt of 1.16% Li2O (Rock Tech Lithium Inc., News Release, June 27, 2018).
The technical information in this news release was reviewed and approved by Gerald D. White, B.Sc., P. Geo., a qualified person (QP) for the purposes of NI 43-101.
About Bold Ventures Inc.
The Company explores for minerals in Ontario and Québec. In Ontario, Bold and its subsidiary Rencore Resources Ltd. have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands. The Company has also earned a 10% carried interest in the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper massive sulphide deposit currently in the permitting stage. Bold has the option to earn a 100% interest in the Wilcorp gold property (subject to a 1% NSR) located approximately 14 km east of the town of Atikokan in Northwestern Ontario. In Québec, Bold's primary focus is on its 100% owned Lac Grasset project that straddles the Sunday Lake Deformation Zone in the Matagami area, within the historically prolific Abitibi Greenstone belt of North-western Québec.
For additional information about Bold Ventures and our projects please visit or contact Bold Ventures Inc. at 416-864-1456.
"David B Graham"
David Graham
President and CEO
"Richard Nemis"
Richard Nemis
Chairman of the Board
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.
