The survey results have now been incorporated into the existing data base in order to prioritize anomalies for future exploration and ultimately for drill testing.
The structural axis has been traced in a regional context from the northwest portion of the Farwell claims to
Significant, coincident, magnetic-electromagnetic anomalies associated with the Bibis Copper Occurrence (located immediately west of the regional NW-SE structure), were also identified in the
The geology of the Farwell property is oriented in a general East-Northeast to West-Southwest direction. The convention for property wide surveying is to survey across the general strike of the geology in order to obtain an optimum signal. At Farwell, the magnetic low trend cuts across the geology and is therefore sub parallel to the flight lines. This is less than ideal for obtaining an optimal geophysical definition of this feature.
Taking these factors into account and to enhance the drill targets that have been located by the VTEM survey, a high-resolution airborne magnetometer survey is recommended to cover the magnetic low trend and the area to the west within the claims.
Bold's 2022 VTEM program is the first large-scale airborne survey completed over the Farwell Property since a 1987 Dighem MAG-EM survey flown by the OGS, which was part of a much larger area covering the Michipicoten and Mishibishu Greenstone Belts. Current advancements in digital technology provide greater accuracy with Global Positioning Systems (GPS) location, increased depth penetration and enhanced target resolution compared to historical surveys.
Farwell Gold -
Historical work within the Farwell claims indicates a high potential for significant concentrations of copper, gold, zinc, lead and silver. A major regional structure known as the
For the purpose of reporting the initial property exploration, the claim group has been divided into three key areas.
In the southeast portion of the property, historical work has recorded numerous samples anomalous in Copper (Cu),
The Tundra Gold Horizon
Located in the east-central portion of the claim group, the Tundra Gold Horizon is mapped as an extension of the ILDZ in contact with 'Tamiskiming' style metasediments (Bennet and Thurston 1977).
Soil sampling carried out along the ILDZ by
The Koala Gold Area
The Koala Gold area occupies the west portion of the claim group and has been explored sporadically over the years and highlights three locations for follow up exploration. From 1986 to 1988, Koala Resources drilled a number of shallow drill holes that returned 3.4 g/t Au over 0.66m (Henriksen 1988) and 12.8 g/t Au over 1.52m (White 1987) at two separate locations. A third location that exhibited a soil geochemical anomaly of 557 ppb Au, was drill tested and logged as a sulphidized Iron formation hosting 40% Po and 5% Py (Henriksen 1988). No gold values were posted on the historical logs.
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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.
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