KWG Resources and Bold Ventures Resume Ring of Fire Drilling at Black Horse

Bold Ventures Inc. and KWG Resources Inc. reported that KWG is funding a further $2 million program under its agreement to earn from Bold an 80% interest in any chromite discovered within the claims optioned by Bold from Fancamp Exploration Ltd in 2013. The Black Horse property contains chromite occurrence, but KWG may also earn a 20% interest in any other metals discovered on the property.

As recommended in the 43-101 report commissioned by KWG and prepared to document the inferred chromite resource following last winter’s drilling program, the possible down-dip extension of the resource will be tested with a series of deep holes. Orbit Garant Drilling Services Inc. has been awarded the drilling contract to utilize up to three drills. Mobilization is underway and drilling is anticipated to commence shortly.

Metallurgical test work which is ongoing has produced encouraging results to indicate that the Black Horse chromite appears to be amenable to reduction into metalized chrome and iron using natural gas. These results dictated that a number of transportation and underground mining trade-off studies be undertaken and those are currently underway.

Bold has interests in various mineral properties located in and around the Ring of Fire Area of Northern Ontario and in the Atikokan area of Northwestern Ontario. Additionally, Bold is exploring four base and precious metals properties in the Abitibi Greenstone belt of Northwestern Quebec.      

KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite occurrence where resources are being defined by a drilling program expected to resume early next year. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.

For more information, please visit www.boldventuresinc.com or contact Richard Nemis, CEO and President or David Graham, Executive Vice-President, Bold Ventures Inc. at 416-864-1456.

For further information, please contact: Bruce Hodgman, Vice-President, KWG Resources Inc. at 416-642-3575 or at info@kwgresources.com