Bold Ventures Inc. and Northern Superior Resources Inc. are pleased to announce that Bold has mobilized a diamond drill to test several gold targets recently identified from ground IP and magnetic surveys completed over a portion of the Black Phoenix area, Lac Surprise Project, Québec (see Bold/ Northern Superior news release, October 20, 2016). The diamond drill program will consist of 4 to 6 holes, or approximately 1,200 m. The program will commence immediately.
This area of the property is a potential source of gold grains for the eastern most gold grain-in-till dispersal train (one of three defined on the Lac Surprise property), previously reported by Northern Superior (see Northern Superior news release, January 27, 2014). In addition, prospecting west of the drill target area yielded a bedrock grab sample containing 19.9 grams per tonne gold (see Bold/ Northern Superior news release, October 29, 2014). The gold grain-in-till dispersal train, bedrock grab sample and two additional gold grain and one gold geochemical- in-till dispersal trains identified on the Lac Surprise property, are all associated with an east to west oriented deformational structure extending east off the Lac Surprise property onto the adjoining Vanstar Mining Resources Inc. ("Vanstar") property. Vanstar reports elevated gold values in diamond drilling, including a drill intersection of 10.34 meters grading 4.43 grams per tonne gold (see Vanstar news release, June 30, 2016).1
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 discoveries include: a) Geomega Resources Inc.'s ("Geomega") Anik Gold property, located directly north of and tied onto, the Lac Surprise property (see Geomega news releases, February 23, and September 28, 2015); b) Vanstar and IAMGOLD Corporation's Nelligan property, located directly east of and tied onto, the Lac Surprise property (see Vanstar news releases, February 23, 2015 and June 30, 2016); and c) Toma Gold and IAMGOLD's Monster Lake property, located 10 km to the north- northeast of the Lac Surprise property (see Toma Gold news releases, February 25, 2015 and June 15, 2016).1
In addition, these same structures over which the Lac Surprise property occurs host several gold mines and deposits which include the: Lac Short Mine and Fenton Deposit to the west, the Joe Mann Mine and Philibert Deposit to the east and the Chevrier Deposit to the northeast.
1The information regarding adjacent properties has been sourced from the various companies websites. It is not Bold's intention to suggest that mineralization from the adjacent properties will necessarily be found on the Lac Surprise property.