News
Bravada Begins Deep Drilling at Wind Mountain Au-Ag Property in Nevada
December 6, 2017
Vancouver, British Columbia - (Newsfile Corp. - December 6, 2017) - Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) (the "Company" or "Bravada") announces that drilling is underway at the Company's 100% owned low-sulfidation Wind Mountain project, a past-producing gold/silver property in northwestern Nevada. Two reverse-circulation holes are planned, one approximately 450m deep and the other approximately 750m deep. The holes are designed to be proof-of- concept holes and additional holes may be added depending on drilling costs and results.
The holes will test two fault intersections, approximately 1,500m apart, that geological evidence indicates were upwelling (also called "feeder") zones for the mineralization previously mined and the substantial remaining shallow gold/silver resource that the Company has delineated (see resource summary below). In addition to testing the fault intersections, both holes will intersect the unconformity between Mesozoic metasediments & Tertiary volcanic rocks. The contrast in physical properties of these rocks at the unconformity may have resulted in especially high grades of gold and silver being deposited, as has been found at many such deposits including the Hishikari deposit in Japan and several low-sulfidation deposits in Nevada.
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.
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.
| 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 | ||||
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. During the past 12 years the Company has successfully identified and advanced properties that have the potential to host high-margin deposits while successfully attracting partners to fund later stages of project development. Currently, three of its Nevada properties are being funded by partners.
Joseph Anthony Kizis, Jr. (AIPG CPG-11513, Wyoming PG-2576) is the Qualified Person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.
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 bravadagold.com.
Contact Information:
Jay Oness
VP Investor Corporate Development
Tel: 604-641-2759
Email: moc.dtlxnm@ssenoj
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.