Bravada Adds Claims & Initiates Exploration Program at Wind Mountain, Nevada
19 Februar 2013 - 2:00PM
Marketwired Canada
Bravada Gold Corporation (TSX VENTURE:BVA)(FRANKFURT:BRT) ("Bravada") announced
today that it has staked an additional 32 lode claims and has initiated the next
phase of exploration and development at its Wind Mountain gold and silver
property, located in northwestern Nevada. The program is expected to consist of
eight reverse-circulation holes that will further test two exploration targets,
which are separate from existing resources, and one probable expansion of
Bravada's Breeze resource. Bravada's current drill permit is being modified to
allow for the new drill sites, with drilling expected to begin mid to late
March. The goal of this program is to identify new mineralization that will add
to Bravada's existing NI 43-101 resource at Wind Mountain, which consists of
570,000 ounces of gold and 14.7 million ounces of silver in the Indicated
category and an additional 354,000 ounces of gold and 10.1 million ounces of
silver in the Inferred category (see Table below and news release NR-06-12 for
details).
The drilling program will be funded by Argonaut Gold Inc. (AR.T, "Argonaut"),
with Bravada as project manager. Argonaut can fund staged expenditures totalling
US$7.5 million over a three-year period to exercise their option to purchase the
project by paying Bravada a price of $30 per ounce of gold-equivalent contained
within Measured and Indicated Resource categories as determined by independent
Qualified Persons. Further details of the agreement can be found in Bravada's
news release of September 18, 2012 (NR-11-12).
Breeze Resource Expansion - Drilling in 2012 confirmed that the Breeze and
DeepMin resources are one relatively continuous deposit, separated originally
due to a lack of sufficient drilling. For example, recent hole WM12-089 is
located between the two resources and ended in thick zones of mixed
oxide/sulfide gold mineralization, with the bottom of the hole containing 10.7
meters of 0.935g/t Au and 33.7g/t Ag (see news release NR-01-13). A fence of
three holes will be drilled approximately 400 meters south of the 2012
Preliminary Economic Assessment (PEA)-designed open pits. Two previously drilled
holes in the vicinity indicate there is a fault that could host significantly
higher-grade "feeder" mineralization in the area of the planned drilling.
Zephyr Exploration Target - Four scout holes are planned to test four separate
anomalies identified by gravity geophysics at this gravel-covered extension of
the Wind Mountain trend of gold/silver mineralization. Claims were added to
cover a portion of this target.
SouthMin Exploration Target - A new target has been identified in a
gravel-covered area that is west of the South End resource. One scout hole is
planned to determine if the prospective host horizon is preserved and
mineralized, as predicted by our structural reconstruction. Claims were added to
cover a portion of this target.
About Wind Mountain
The past-producing Wind Mountain gold/silver project is located approximately
160km northeast of Reno, Nevada in a sparsely populated region with excellent
logistics, including county-maintained road access and a power line to the
property. A Technical Report for an independent Preliminary Economic Assessment
(PEA) and resource estimate was conducted by Mine Development Associates (MDA)
of Reno and has been posted on SEDAR, as previously reported (see NR-07-12 dated
May 1, 2012).
Mine Development Associates compiled the technical report. Thomas Dyer, P.E., is
a Senior Engineer for MDA and is responsible for sections of the technical
report involving mine designs and the economic evaluation, and Steven
Ristorcelli, C.P.G., is a Principal Geologist for MDA and is responsible for the
sections involving the Mineral Resource estimate. These are the Qualified
Persons of the technical report for the purpose of Canadian NI 43-101, Standards
of Disclosure for Economic Analyses of Mineral Projects.
----------------------------------------------------------------------------
oz oz gms gms
Tons Au/T Ag/T Tonnes Au/T Ag/T oz Au oz Ag
----------------------------------------------------------------------------
Indicated resource
----------------------------------------------------------------------------
Oxide at 0.005 oz Au/ton cut off
----------------------------------------------------------------------------
58,816,000 0.010 0.25 53,372,051 0.343 8.6 564,600 14,539,000
----------------------------------------------------------------------------
Mixed/Sulfide at 0.01 oz Au/ton cut off
----------------------------------------------------------------------------
498,000 0.012 0.40 451,906 0.411 13.7 5,900 197,000
----------------------------------------------------------------------------
Total 59,314,000 53,823,956 570,500 14,736,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Inferred resource
----------------------------------------------------------------------------
Oxide at 0.005 oz Au/ton cut off
----------------------------------------------------------------------------
19,866,000 0.006 0.17 18,027,223 0.206 5.8 125,200 3,443,000
----------------------------------------------------------------------------
Mixed/Sulfide at 0.01 oz Au/ton cut off
----------------------------------------------------------------------------
14,595,000 0.016 0.46 13,244,102 0.549 15.8 229,100 6,672,000
----------------------------------------------------------------------------
Total 34,461,000 31,271,325 354,300 10,115,000
----------------------------------------------------------------------------
About Bravada Gold Corporation
Bravada is a member of the Manex Resource Group of companies with an exploration
office in Reno, from which it is exploring its extensive Carlin-type and
low-sulfidation-type gold holdings strategically located within numerous
productive gold trends in Nevada. Homestake Resource Corporation (HSR.V) owns
10.19% of Bravada's 114,834,282 outstanding common shares.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified
Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors of Bravada Gold Corporation
Joseph A. Kizis Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at
www.bravadagold.com.
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. These statements are based on a number of assumptions, including,
but not limited to, assumptions regarding general economic conditions, interest
rates, commodity markets, regulatory and governmental approvals for the
company's projects, and the availability of financing for the company's
development projects on reasonable terms. Factors that could cause actual
results to differ materially from those in forward looking statements include
market prices, exploitation and exploration successes, the timing and receipt of
government and regulatory approvals, and continued availability of capital and
financing and general economic, market or business conditions. Bravada Gold
Corporation does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information, future
events or otherwise, except to the extent required by applicable law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Bravada Gold Corporation
Liana Shahinian
604-641-2773 or Toll Free: 1-888-456-1112
liana@mnxltd.com
www.bravadagold.com
Bravada Gold (TSXV:BVA)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Bravada Gold (TSXV:BVA)
Historical Stock Chart
Von Jun 2023 bis Jun 2024
