Bold Ventures Discovers Rare Earth Element System at Burchell Project

Bold Ventures Inc. announced the unexpected discovery of a rare earth element (REE) system at its Burchell Project, located 100 kilometers west of Thunder Bay in Ontario's Western Shebandowan Greenstone Belt. The discovery emerged from the company's March 2026 Phase II diamond drilling program, which was originally targeting gold mineralization along the Moss Gold Trend.

The key discovery came from drillhole BL-26-05A, which intersected 55.2 meters of REE mineralization averaging 1,022 ppm Total Rare Earth Oxides (TREO), spanning the entire length of the hole from 55.8 to 111 meters depth. Significantly, 29% of the TREOs consist of Magnet Rare Earth Oxides (MREOs), including neodymium, praseodymium, dysprosium, and terbium, which are essential for electric vehicle batteries, clean energy technologies, aerospace, and defense applications. The mineralized interval also showed elevated pathfinder elements including 3,244 ppm strontium, 2,287 ppm barium, 14.7% calcium oxide, and 0.89% phosphorus pentoxide.

The geological characteristics indicate an alkaline-carbonatite system hosted within syenite and associated with carbonate veining, a setting that hosts many of the world's major hard-rock REE deposits. The discovery is particularly significant because it occurs within the Hermia Pluton, which extends over a 6-kilometer stretch in the northern part of the Burchell Property, suggesting substantial unexplored REE potential across a large area.

This discovery positions Bold Ventures to capitalize on the growing strategic importance of rare earth elements, particularly as governments prioritize secure supply chains for critical metals. With China controlling 69% of global REE production and Canada holding some of the largest known rare earth resources globally, the Burchell discovery could contribute to North American supply chain security for these essential materials. The company plans follow-up exploration to identify higher-grade zones within the broader Hermia Pluton complex, potentially establishing a significant new REE district in Ontario.