Burchell Project's REE Find
Bold Ventures Discovers Widespread Rare Earth Element Anomalies at Burchell, Plans Next Phase
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Bold Ventures Inc. (TSXV: BOL) has found widespread Rare Earth Element (REE) anomalies at its Burchell Project in Ontario, about 100 km west of Thunder Bay, according to MarketScreener. The finds came during a March 2026 drill program targeting the Hermia pluton — a body of igneous rock — in the northern part of the property.
The company now plans a ground geophysics survey across a 6 km stretch in the north. A follow-up prospecting program has already targeted outcrops further east on the property, expanding the known footprint of the REE system.
Hermia Pluton Drill Program Uncovers REE Anomalies
The Hermia pluton sits in the northern section of the Burchell Project. During the March 2026 drill program, Bold Ventures found REE anomalies spread widely across the pluton, according to MarketScreener. Rare earth elements are a group of 17 metals used in electric vehicles, defense systems, and electronics.
After drilling, the team ran a prospecting program on outcrops further east. This extended the area of interest beyond the original drill targets. The back-to-back programs suggest the REE system may be larger than first thought.
Next Phase: 6 km Ground Geophysics Survey Planned
Bold Ventures will next run a ground geophysics survey across a 6 km corridor in the north of the property. Geophysics uses measurements of the earth's physical properties — like magnetism and gravity — to find buried mineral deposits without more drilling. The survey will help the company decide where to drill next.
Bruce MacLachlan, President and COO of Bold Ventures, said the company looks forward to "unlocking the potential of the rare earth system through systematic exploration." That word — systematic — signals a phased, methodical approach rather than a rush to drill.
Why Rare Earths Matter Right Now
Bold's announcement comes as demand for rare earths surges globally. The Pentagon recently made its biggest investment in the U.S. rare earth industry in decades, backing MP Materials Corp. (NYSE: MP), according to Montreal Gazette. The U.S. is racing to build a domestic supply chain and reduce its dependence on China.
Mountain Pass in California is currently the only large-scale rare earth mine operating in the United States, according to Cold Lake Sun. That gap in supply has pushed governments and companies to hunt for new deposits in North America — including in Ontario.
Canada Positioned to Fill North American Supply Gap
Canadian projects are getting a closer look as the U.S. scrambles for allies in the rare earth supply chain. REalloys Inc. (ALOY), for example, owns 100% of the Hoidas Lake heavy rare earth project in Canada, according to Stratford Beacon Herald. Bold Ventures' Burchell Project adds another potential Canadian source to the map.
For Bold Ventures, the next steps are clear: run the geophysics survey, analyze the data, and plan a follow-up drill program. The company has not yet released assay numbers from the March drill program. Investors and analysts will be watching for those results to gauge the true scale of the Burchell REE system.
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