West Nickel properties McFaulds Lake - Bold JV
posted on
Feb 04, 2009 06:27PM
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West Nickel properties McFaulds Lake - Bold / Melkior Jv
Should have the new MD & A soon also, last one was on July 31/08
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The WEST NICKEL property covers the majority of an important gravity anomaly located at the approximate centre of the McFaulds Lake area ‘Ring of Fire’. Melkior Resources Inc. (MKR: TSX.V) is Bold’s 50% partner in the WEST NICKEL project.
The WEST NICKEL Project consists of 909 claims (14,544 hectares) and is located approximately 20 kilometres north of the massive Noront Resources Double Eagle nickel-copper discoveries and 20 kilometres southeast of the Metalex-WSR sulphides discovery.
The claim group composing the WEST NICKEL Project covers the majority of a regional gravity anomaly located approximately in the center of the Ring of Fire.
" This type of anomaly could be caused by a mafic/ultramafic intrusive which could be the source of nickel mineralization in the surrounding Ring of Fire. "
Bold's Management holds 51% of the capital stock, with 12,960,440 cs shares issued to date.
Bold's main emphasis is on two Copper-Nickel exploration properties located in the McFaulds Lake “Ring of Fire” area of Northern Ontario. Bold has an option agreement with Noront Resources to acquire a 50% in the RING STAR NICKEL Project,and has earned a 50% interest in the WEST NICKEL project with Melkior Resources.
July 31/08 MD&A
4
The West Nickel Project
Mcfaulds Lake area, Province of Ontario
The Company has entered into an agreement to acquire a 50% interest in the West Nickel Property.
The West Nickel property consists of approximately 909 claim units totalling 14,544 hectrares (36,360 acres) and is located 20 kilometres due north of the Noront Double Eagle discovery and 10 kilometres west of the initial Noront/South Hampton “Ring of Fire” claims.
Bold has acquired a 50% interest in these claims subject to a 1% NSR for a cash payment of $209,524 (paid) and undertaking an airborne geophysical surveying on the claims totalling $125,000 (paid).
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" This type of anomaly could be caused by a mafic/ultramafic intrusive which could be the source of nickel mineralization in the surrounding Ring of Fire. "