Bolt Metals Completes 402 line-km MobileMT Survey at Northwind Property, Quebec
Rhea-AI Summary
Bolt Metals (OTCQB:PCRCF) completed a 402 line-km airborne MobileMT survey over its Northwind property in Quebec, flown at 100-metre spacing. The data is being processed to define targets for a planned 5,000-metre drilling program focused on gold and base metals.
The company also elected to adopt semi-annual financial reporting under Blanket Order 51-933, eliminating Q1 and Q3 2026 interim filings while continuing annual and six-month financial statements and MD&A. Bolt confirms annual revenues under $10 million, meeting the Blanket Order’s eligibility criteria.
AI-generated analysis. Not financial advice.
Positive
- Completion of 402 line-km MobileMT survey at Northwind property
- Planned 5,000-metre drilling program targeting gold and base metals
- Adoption of semi-annual reporting expected to reduce administrative and financial burden
- Confirmation of eligibility under Blanket Order 51-933, including revenues under $10 million
Negative
- Reduced reporting frequency with no Q1 and Q3 2026 interim financials or MD&A
- Annual revenues confirmed at under $10 million, indicating a small-scale issuer
VANCOUVER, BC / ACCESS Newswire / May 22, 2026 / Bolt Metals Corp. ("Bolt" or the "Company")(CSE:BOLT)(OTCQB:PCRCF)(FSE:A3D8AK), a critical mineral acquisition and exploration company, is pleased to announce the successful completion of an airborne MobileMT survey over its Northwind property in Quebec, Canada.
The survey was conducted by Expert Geophysics Services using its advanced Mobile Magneto-Telluric (MobileMT) system. A total of approximately 402 line-kilometres were flown at 100-metre line spacing in a north-south direction.
Due to the thick overburden covering the property and the known limitations of conventional TDEM methods in such conditions, the MobileMT survey was selected for its superior depth of penetration. This technology enables effective imaging beneath the highly resistive overburden, allowing the Company to identify potential deep-seated targets, including VMS (volcanogenic massive sulphide) systems, orogenic gold deposits, and associated structural features.
The data collected is currently being processed and interpreted. The final results will be used to identify promising targets and design an upcoming 5,000-metre drilling program evaluating gold and base metal opportunities.
Adopts Semi-Annual Reporting:
Bolt Metals is also pleased to announce its election to rely upon Coordinated Blanket Order 51-933 - Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Blanket Order") and move to semi-annual financial reporting ("SAR").
The Blanket Order allows eligible venture issuers to voluntarily move from quarterly to semi-annual financial reporting. By adopting SAR, the Company aims to reduce the administrative and financial burden associated with quarterly reporting.
Under the Blanket Order, the Company will be exempt from filing interim financial reports and related Management's Discussion & Analysis (MD&A) for its first and third quarters. As a result, the Company will not file interim financial statements and related MD&A for the three-month period ending March 31, 2026, and nine-month period ending September 30, 2026. The Company will continue to file audited annual financial statements and MD&A (due within 120 days of December 31) and six-month interim financial statements and MD&A (due within 60 days of June 30).
The Company confirms it meets the Blanket Order's eligibility criteria, which include being a venture issuer with annual revenues of less than
This news release is being filed pursuant to the Blanket Order.
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Babak V. Azar, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects who is independent of the Company.
About Bolt Metals Corp.
Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on the development of quality precious and base metal properties that are drill-ready with high-upside and expansion potential. Bolt trades on the CSE under the symbol BOLT, the OTC under the symbol PCRFC and in Germany under the WKN A3D8AK.
BOLT METALS CORP.
Zachary Kotowych, CEO and Director
For more information, please email info@boltmetals.comor visit www.boltmetals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release includes "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
SOURCE: Bolt Metals Corp.
View the original press release on ACCESS Newswire