Announcement • Aug 02
Bold Ventures Identifies Widespread Rare Earth Element Anomalies At Burchell And Plans Next Phase Of Exploration
Bold Ventures Inc. announced that widespread Rare Earth Element (REE) anomalies have now been identified in grab samples and drill core within the Hermia pluton in the northern part of Bold's Burchell Project, located 100 km west of Thunder Bay, Ontario. The REE system was initially discovered during Bold's March 2026 drill program. Hole BL-26-05A returned 1022 ppm Total Rare Earth Oxides (TREO) over 55.2 meters, comprising the entire drillhole beneath 55.8 meters of overburden, hosted in a syenite-carbonatite system. A subsequent prospecting program targeted outcrops within the Hermia Pluton previously mapped by the Ontario Geological Survey further east on the Property. Several outcrops returned anomalies >500 ppm TREO with a maximum of 3060 ppm (0.3%) TREO and are located between 2.2 and 3.2 kilometers east of the discovery drillhole. Coordinates and rock types of samples >500 ppm TREO are given in Table 1. Anomalous grab samples were also associated with elevated concentrations of pathfinder elements Ba and Sr, similar to the core samples in hole BL-26-05A. Additionally, the >500 ppm TREO values obtained in grab samples were comprised of 20-30% Magnet Rare Earth Oxides (MREOs), including Nd, Pr, Dy and Tb, which are essential to EV, clean energy, aerospace, and defense applications. The next phase of exploration is planned to consist of ground geophysics across the newly identified fertile corridor associated with the Hermia Pluton, which occupies a 6 km stretch in the northern part of the Property. A ground gravimetric survey will assist in delineating different phases of the Hermia Pluton which may include more enriched carbonatite rocks. Also planned is the reprocessing and reinterpretation of the 2019 airborne magnetic survey across the Property, which will aid in identifying magnetite-rich zones associated with REE mineralization as well as pluton boundaries, structural controls, and alteration zones. Extending hole BL-26-05A is planned as the hole ended in anomalous REE mineralization. Summer 2026 grab samples with anomalous (>500 ppm) REE values are listed in Table 1. TREO (Total Rare Earth Oxides) is calculated by multiplying the elemental concentration of each REE by its specific stoichiometric conversion factor and summing the concentrations of the corresponding oxides. The conversion factors used are: La2O3 (1.1728), CeO2 (1.2284), Pr6O11 (1.2082), Nd2O3 (1.1664), Sm2O3 (1.1596), Eu2O3 (1.1579), Gd2O3 (1.1526), Tb4O7 (1.1762), Dy2O3 (1.1477), Ho2O3 (1.1455), Er2O3 (1.1435), Tm2O3 (1.1421), Yb2O3 (1.1387), Lu2O3 (1.1371), and Y2O3 (1.2699). Rare Earth Elements are critical to modern manufacturing processes across a wide range of sectors including electronics, clean energy, aerospace, automotive and defense. The largest and most important use of REEs is in the production of permanent magnets (NdFeB magnets), which require the 'magnet rare earths' Nd, Pr, Dy & Tb and accounted for 48% of the global demand for REEs in 2024. Canada is not yet a producer of REEs but holds some of the largest known rare earth resources globally, estimated at over 15 million tonnes of rare earth oxide in 2024. China is the world's largest producer of REEs, accounting for 69% of global production in 2024. Establishing a secure and sustainable REE supply for industrial and defense applications has been an increasing concern for governments worldwide, including Canada's federal and provincial governments. Ontario's Ford government recently released its 'Framework for the Ontario Defence Industrial Strategy' document at the CANSEC 2026 defense & security trade show in Ottawa, in which Northern Ontario was mentioned as being part of an industrial cluster through the mining of critical minerals used in the defense and high-tech manufacturing. Rock samples were placed in sealed bags and driven to AGAT Laboratories in Thunder Bay, an ISO /IEC 17025 accredited laboratory. Blank and standard certified reference material were inserted into each batch of samples submitted. All samples were analyzed using AGAT methods 202-551, a 50g fire assay with Atomic Absorption Spectroscopy finish for Au analysis, and 201-378, a sodium peroxide fusion with ICP-OES and ICP-MS finish, for 58 trace elements including most REEs. The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company's V.P. Exploration and a qualified person (QP) for the purposes of NI 43-101. Bold Ventures management believes suite of Battery, Critical and Precious Metals exploration projects is an ideal combination of exploration potential meeting future demand. target commodities include: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website.
