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Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") has completed the announced reverse-circulation drilling program at the Company's wholly owned Wind Mountain AuAg Project in northwestern Nevada. The program totaled 2,186.8 metres and consisted of two separate components:
In-filling drilling portions of the existing oxide resource where shallow, higher-than-average gold and silver grades are expected. A total of 13 holes (1,324.3 metres) were completed, and drill samples are at the assay lab with assays expected in 3-5 weeks. The Company is re-assessing the shallow and oxidized, disseminated gold and silver resource at Wind Mountain, beginning with the now-completed in-fill drilling in an area that could evolve into a Phase I starter pit. The goal is to complete an update to the resource and PEA by Q1 2022.
Completing next-stage exploration drilling at the Feeder Target by offsetting the vein zone encountered in hole WM20-102, which intersected 1.5 metres of 4.5g/t Au-eq (0.404g/t Au and 269.0g/t Ag) within a thicker interval of quartz veining with anomalous gold and silver mineralization. Three of the holes offset the WM20-102 vein zone below and a short distance along possible strike to determine its orientation. A fourth hole was added to the planned program to test the on-strike projection of the vein zone approximately 400m along strike to the northeast. All four holes, totaling 862.5 metres, intersected quartz veining below the elevation of the WM20-102 intercept, and all encountered encouraging vein textures ranging from delicate banding to strong hydrothermal brecciation, and with some chips exhibiting quartz-after-calcite boiling texture. Samples have been delivered to the assay lab and analyses are expected in 6-8 weeks.
President Joe Kizis commented, "Our geological model for a feeder vein at Wind Mountain appears to be generally correct based on the vein textures noted above and silica mineralogy transitioning from lower temperature chalcedony high in the holes to higher temperature quartz lower in the recent drill holes; however, we will be anxiously awaiting assays to determine any economic significance. After verifying the likely orientation of the vein zone with the first three drill holes, we took a rather large step-out to assess continuity of the covered vein zone along its projection. The fourth hole is approximately 400m to the northeast of WM20-102 and approximately 250m southwest of a shallow, historic 'condemnation' drill hole that intersected strongly anomalous gold and silver at a shallow depth along projection of the WM20-102 vein zone."
About Wind Mountain
The Wind Mountain Property is in northwestern Nevada approximately 160km northeast of Reno in a sparsely populated region with excellent logistics, including county-maintained road access and a power line to the property. It is an historic past-producing, bulk-tonnage gold-silver mine. An independent resource estimate and Preliminary Economic Evaluation for Wind Mountain commissioned by Bravada in 2012 reported:
- 570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and
- 354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.
See the table below and news release NR-06-12 dated April 11, 2012 for details of the resource update. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be classified as mineral reserves. There is no assurance that any part of the resources will ultimately be converted to mineral reserves.
| Tons | oz Au/T | oz Ag/T | Tonnes | gms Au/T | gms 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 | ||||
Mine Development Associates compiled the Technical Report and PEA. 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. Details of the PEA produced by Mine Development Associates (MDA) of Reno can be found on SEDAR, as previously reported (see NR-07-12 dated May 1, 2012). Note that although the PEA was encouraging, it is preliminary in nature, it includes Inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized.
About Bravada
Bravada is an exploration company with a portfolio of high-quality properties in Nevada, one of the best mining jurisdictions in the world. Bravada has successfully identified and advanced properties with the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain, and the Company has significant upside potential from possible new discoveries at its exploration properties.
Since 2005, the Company signed 32 earn-in joint-venture agreements for its properties with 19 publicly traded companies, as well as a similar number of property-acquisition agreements with private individuals. Bravada currently has 10 projects in its portfolio, consisting of 810 claims for approximately 6,500 ha in two of Nevada's most prolific gold trends. Most of the projects host encouraging drill intercepts of gold and already have drill targets developed. Several videos are available on the Company's website that describe Bravada's major properties, answering commonly asked investor questions. Simply click on this link https://bravadagold.com/projects/project-videos/.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513) is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.
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On behalf of the Board of Directors of Bravada Gold Corporation
"Joseph A. Kizis, Jr."
Joseph A. Kizis, Jr., Director, President, Bravada Gold Corporation
For further information, please visit Bravada Gold Corporation's website at bravadagold.com or contact the Company at 604.684.9384 or 775.746.3780.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87377
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