Surprise Mr. Richard Nemis of Bold reports
BOLD VENTURES AND NORTHERN SUPERIOR ANNOUNCE 2015 SUMMER EXPLORATION PROGRAM, LAC SURPRISE PROPERTY, WEST-CENTRAL QUEBEC
Bold Ventures Inc. and Northern Superior Resources Inc. have initiated the 2015 exploration program on the Lac Surprise gold property, west-central Quebec.
The exploration program is focused on the recently discovered Amber showing where encouraging gold assay values from grab samples (ranging from 0.81 to 28.6 grams per tonne (g/t) gold (Au)) and channel samples (0.02 up to 10 g/t Au over one m, including 26.1 g/t Au over 0.5 m) were reported (see press release dated Feb. 17, 2015). The Amber showing is one of seven new showings discovered on the Lac Surprise property during the successful 2014 prospecting and trenching programs. Bold and Northern Superior agree that all seven new showings have significant gold potential. However, due to relatively easy access, thin overburden cover and a more comprehensive understanding of the geology from the 2014 summer program, the Amber showing was chosen for this exploration program.
The purpose of this exploration program is to: advance the understanding of structural controls for gold mineralization on the property; and to define specific core drill targets at the Amber showing. This exploration program will be initiated and completed during June, 2015, and consists of four components:
- Establishing a cut and chained grid totalling approximately 30 km (28.85 km), consisting of 22.7 km of cross lines and 6.1 km of tie lines, cut perpendicular to the cross lines, station spacing of 25 m;
- Completion of a B horizon, soil sampling program (approximately 918 samples, 25 m stations);
- Prospecting and outcrop sampling (approximately 50 samples);
- Completion of a frequency domain induced polarization (IP) survey along all of the cross lines and tie lines within the cut and chained grid.
Bold president and chief executive officer Richard Nemis commented that: "We are very pleased with the results we have achieved to date and we are focusing our efforts in order to optimize our drill targets. It appears to be progressing well."
Dr. T.F. Morris, president and chief executive officer of Northern Superior, commented: "Northern Superior looks forward to the results of this program which we anticipate will advance our understanding of the controls associated with gold mineralization on the property, obviously an important component toward effectively directing future core drill programs."
The Lac Surprise property is centrally located within a highly prospective area of the Chapais-Chibougamau gold-copper camp, an area currently experiencing aggressive mineral exploration. The Lac Surprise property is strategically located over major regional structures associated with recent gold mineralization discoveries. These include: Geomega Resources Inc.'s Anik gold property, located directly west of and tied onto the Lac Surprise property (see Geomega press release, Feb. 23, 2015); Vanstar Mining and Iamgold Corp.'s Nelligan property, located directly east of and tied onto, the Lac Surprise property (see Vanstar press release, Feb. 23, 2015); and Toma Gold and Iamgold's Monster Lake property, located 10 km to the north-northeast of the Lac Surprise property (see Toma Gold press release, Feb. 25, 2015).
In addition, these same structures over which the Lac Surprise property occurs host several gold mines and gold deposits which include the: Lac Short mine and Fenton deposit to the east; Joe Mann mine and Philibert deposit to the west; and Chevrier deposit to the northeast.
The Lac Surprise project is under option from Northern Superior whereby Bold may earn a 50-per-cent interest in the property by expending an aggregate of $2-million and issuing to Northern Superior a total of 350,000 common shares of Bold over a three-year period. A further 10-per-cent interest may be earned if Bold delivers a positive feasibility study within five years of execution of the formal option agreement.