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Bravada Gold Corp. (TSXV:BVA) announced that it’s received data from work completed by Kinross Gold USA Inc. at its Nevada-based Baxter gold-silver property.
Bravada Gold Corp. (TSXV:BVA) announced that it’s received data from work completed by Kinross Gold USA Inc. at its Nevada-based Baxter gold-silver property. The property is now made up of 240 unpatented lode claims covering about 1,940 hectares.
Kinross Gold USA is a subsidiary of Kinross Gold Corp. (TSX:K,NYSE:KGC).
As quoted in the press release:
Kinross’ program consisted of adding 188 mining claims, mapping, rock-chip and soil sampling over the newly expanded claim block, conducting detailed ground gravity and air-borne magnetics/radiometrics over the entire claim block, and conducting mineralogy studies to identify clay and other alteration products in surface and drill chips.
In addition to verifying local high-grade concentrations of gold in grab samples from several veins, specific target areas were identified for drill testing. Five samples contain 10.1 to 43.7g/t Au of the 92 samples of vein, dump material, and wall rock that were collected. The remaining samples assay in the range of less than detection limits to 7.8g/t Au. Sites are being permitted with the Bureau of Land Management; however, specific details and timing for drilling have not been finalized.
Kinross has the option to earn a 60% interest in the property by spending $2.0 million over five years and it can earn an additional 15% interest by spending an additional $2 million on exploration and development expenses over two additional years. Upon Kinross completing its earn-in, Bravada may contribute to expenditures at its percentage of interest or be diluted. Should Bravada’s working interest reduce below 10%, Bravada would convert its working interest to a 1% NSR royalty (see NR-01-15 dated February 3, 2015).
Joe Kizis, president of Bravada Gold, commented:
Kinross has done excellent work advancing the Baxter property through further geological, geochemical, and geophysical investigations. We look forward to Kinross drill testing the new targets.
Click here to read the full Bravada Gold Corp. (TSXV:BVA) press release.
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