TORONTO — Bold Ventures Inc. and Lac des Mille Lacs First Nation, located near Thunder Bay, Ont., have announced the signing of a Strategic Alliance Agreement intended to identify resource-related economic opportunities.
The alliance expects to generate a variety of resource-related projects ranging from base and precious metals to industrial minerals and materials including infrastructure development, notes an Aug. 1 media statement.
The initiative will be a separate division to Bold's core business of exploration for base and precious metals within Canada and will focus initially on the Lac des Mille Lacs traditional land base.
"Our vision to rebuild a self-sustaining community can only successfully occur as long as the First Nation continues to move forward in economic development," Lac des Mille Lacs Chief White Cloud commented. "One avenue is through forming partnerships that have the potential to provide for revenue-generating opportunities. We very much look forward to a successful and long-lasting partnership with Bold Ventures."
"Bold is impressed with Lac des Mille Lacs First Nation's business philosophy and demonstrated entrepreneurial approach," said Bold Ventures president and CEO Richard Nemis. "While Bold's core business remains unchanged, we see this effort as an activity that is complimentary with our core values, enhances our goal of locating new and important exploration projects and should create revenue for the Lac des Mille Lacs First Nation and our company."
In Ontario, Bold and its subsidiary, Rencore Resources Ltd., have extensive holdings comprised of over 18 claim groups in and around the Ring of Fire area of the James Bay Lowlands.
The company has also earned a 10-per-cent carried interest in the Koper Lake Project centrally located within the Ring of Fire and directly adjacent to the Eagles Nest nickel-copper sulphide deposit currently in the permitting stage.