Bold Ventures has entered into an agreement to acquire six mining claims contiguous to its Joutel Property in Quebec, Canada.
This transaction involves the issuance of 750,000 common shares of Bold to 2099840 Ontario, operating as Emerald Geological Services (EGS).
EGS is operated by Bruce MacLachlan, who serves as president and chief operating officer of Bold, along with Coleman Robertson, Bold's vice-president of exploration.
The newly acquired claims are significant due to the presence of versatile time-domain electromagnetic (VTEM) anomalies identified in a 2012 survey conducted by Bold on the Joutel Property.
Bold CEO David Graham said: “We are pleased to have reassembled our Joutel claims. Our 2012 VTEM survey outlined a number of anomalies that we believe are prospective for nickel (Ni), copper (Cu), zinc (Zn), gold (Au) and silver (Ag).
“We are excited to explore these anomalies to generate what we anticipate will be high potential drill targets.”
Notably, anomalous area 3B is linked to historical diamond drill results showing nickel and gold intercepts, including 0.83% nickel over 3.7m and 0.51 grams per tonne gold over 3.05m.
This transaction qualifies as a related party transaction under Multilateral Instrument 61-101 but is exempt from certain valuation and approval requirements, as the market value involved does not surpass 25% of Bold's market capitalisation.
The agreement awaits approval from the TSX Venture Exchange.
MacLachlan said: “The proposed acquisition of the EGS claims is a major step forward for Bold’s Joutel project, which will become a consolidated land package of 58 claims comprising 3217 hectares covering numerous geophysical anomalies associated with known base and precious metal mineralisation.
“We anticipate a ground geophysical survey this winter to better define these geophysical anomalies in advance of drilling.”
The Joutel claim group is situated around 140km north-west of Val d’Or. It lies 6km south-south-east of the historic mining town of Joutel, within the Poirier and Dalet Townships. The property comprises 52 staked claims.
