Bravada Begins In-fill and Exploration Drilling at the Wind Mountain Gold/Silver Project, Nevada; Updated Resource/PEA Planned Q1 2022
May 13, 2021
Bravada Gold Corporation (the "Company" or "Bravada") reports that it has commenced reverse-circulation drilling at the Company’s 100% owned Wind Mountain gold/silver project in northwestern Nevada. The program will begin with approximately 1,400m of shallow in-fill holes within a higher-than-average grade portion of the existing oxide resource, which could evolve into a Phase I starter pit. Following the in-fill holes, approximately 600m will be drilled to explore deeper a potential feeder vein zone discovered in hole WM20-102, which intersected 1.5 metres of approximately 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.
The Company is re-assessing the shallow and oxidized, disseminated gold and silver resource on the Wind Mountain property, starting with in-fill drilling in several under-drilled areas that could inexpensively add higher grade resource. The goal is to complete an update to the resource and PEA by Q1 2022.
Following completion of the in-fill holes, the Feeder target will be tested beneath the silver-rich vein intersected in hole WM20-102.
President Joe Kizis commented, “Veins are rare within the poorly consolidated sediments that host disseminated mineralization at Wind Mountain, and the vein zone intersected in WM20-102 is unusual in other ways. The vein zone includes hydrothermal breccia, which indicates strong hydrothermal activity often associated with boiling. However, the vein zone does not exhibit common boiling textures that are often associated with higher gold grades, suggesting boiling and significant gold deposition may have occurred deeper in the vein zone. Further evidence of higher gold grades deeper is the presence of finely disseminated silver sulfides and the ratio of silver to gold, which is much higher than usual for Wind Mountain. Based on our paleo-reconstruction, the depth of the vein zone intersected in WM20-102 is estimated to be less than 150 metres below the paleosurface, consistent with other observations of being in the shallow part of the mineralizing system with the strongest gold mineralization occurring deeper. The model will be tested where the vein zone cuts brittle rocks that should be favorable for more extensive vein development below the WM20-102 intercept.”
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.
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.
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.