Bold Ventures Inc. (TSXV: BOL) has identified widespread Rare Earth Element (REE) anomalies at its Burchell project, located 100 km west of Thunder Bay, Ontario. Recent prospecting within the Hermia pluton, a six-kilometer-long target area in the northern portion of the property, returned surface grab samples with values exceeding 500 parts per million (ppm) Total Rare Earth Oxides (TREO). Several samples recorded significantly higher grades, with the most prospective specimen reaching 3060 ppm TREO.

The new surface findings follow a drill program conducted earlier this year that first intercepted the mineralized system. Hole BL-26-05A, which targeted the syenite-carbonatite host rock, intersected 55.2 meters grading 1022 ppm TREO. The recent surface exploration indicates that this mineralization extends between 2.2 and 3.2 kilometers east of the initial discovery hole. Notably, the anomalous samples contain significant concentrations of Magnet Rare Earth Oxides—including neodymium, praseodymium, dysprosium, and terbium—which represent 20–30% of the total oxide content. These elements are high-demand inputs for the manufacturing of permanent magnets used in electric vehicles, defense, and renewable energy technologies.

Management intends to advance the project through a series of focused technical programs designed to map the extent of the fertile corridor and identify potential zones of higher-grade enrichment within the carbonatite rocks.

"We are pleased to have made further progress on the Rare Earth Element system discovered in our March drill program. It is now clear that the Hermia Pluton is a fertile rare earth system not limited to the area of the discovery drillhole, and we look forward to unlocking its potential through systematic exploration which, in the near term, will involve ground geophysics and extending hole 5A." — Bruce MacLachlan, President and COO

The company’s upcoming work schedule includes a ground gravimetric survey to help delineate the different phases of the Hermia pluton. Additionally, geologists plan to reprocess and reinterpret 2019 airborne magnetic data to better understand the structural controls, alteration zones, and magnetite-rich areas that may host the REE mineralization. Exploration efforts will also see the extension of hole BL-26-05A, which the company noted ended in anomalous mineralization, to further test the depth and continuity of the system.

Bold Ventures maintains a diverse project portfolio targeting precious, battery, and critical metals across the Thunder Bay and Wawa regions of Ontario. Following the release of the updated exploration results and the announcement of the next phase of work, shares of the company rose 6.67% to close at $0.08 on July 30, 2026. The technical data provided in the announcement was reviewed and approved by the company's Vice President of Exploration, Coleman Robertson, who serves as a qualified person for the project under NI 43-101 reporting standards. The company continues to prioritize its multi-commodity strategy as it systematically evaluates the potential of its Northern Ontario land package.

Read the full announcement: Bold Ventures Identifies Widespread Rare Earth Element Anomalies at Burchell, Plans Next Phase of Exploration