Bravada Commences 2020 Work Program at the Highland Gold/Silver Project in Nevada, Funded by OceanaGold
April 7, 2020
Vancouver, British Columbia - (Newsfile Corp. - April 7, 2020) - Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) (FSE: BRTN) ("Bravada" or "Company") announces the commencement of field work at the Highland Gold/Silver Project, located in Nevada's Walker Lane Gold trend. The 2020 Phase 1 US$250,000 exploration program will be conducted by Bravada and funded by Option/Joint-Venture partner OceanaGold US Holdings Inc. ("OceanaGold"), a wholly owned subsidiary of OceanaGold Corp. OceanaGold may earn up to a 75% interest in the Project after expenditures of US$10million (News Release NR-09-18, December 20, 2018).
Although Bravada and previous partners intersected high-grade gold and silver in drill holes on the western portion of Highland, most of the property remains untested due to poor outcrop exposure and extensive shallow gravel cover. OceanaGold's 2019 work program focused on the eastern portion of the property where minimal erosion is indicated by the presence of extensive sinter. Potentially high-grade gold mineralization may lie beneath sinter as indicated by widespread gold anomalies in surface samples. Combining OceanaGold's 2019 work with pre-Bravada shallow drilling and Bravada's previous mapping and sampling in the area has resulted in the identification of several attractive target areas (see below).
Highland Project Target Areas
Field work began with staking 29 new claims, increasing the property to 192 claims (~1,554 hectares). The claims cover structures identified by CSAMT geophysics and geological mapping, which define the Eastern Graben. Graben-margin faults are often important channel-ways for low-sulfidation fluids and high-grade gold/silver deposits may form where the fluids boil at some depth below the paleosurface. The gold-depleted fluids may continue up to the paleosurface where they form sinter pools. Anomalous gold values are widespread in surface samples along the Eastern Graben and the extensive area of usually barren sinter exposed in the Eastern Graben indicates that zones of gold deposition should be preserved in their entirety.
Detailed targeting is planned prior to permitting drill sites but timing of that work will be subject to safety restrictions related to the COVID-19 pandemic. Permitting is planned once detailed targeting has been completed and assays are received, with one or two core holes planned following receipt of drill permits.
Previous drilling by Bravada's US subsidiary at the Western Vein Targets and surface gold anomalies along margins of the Western Graben and Eastern Graben demonstrate a large and vigorous gold system. The best hole drilled by Bravada was H02013 at the Western Vein Targets, which intersected 1.5 meters of 66.9 grams of gold per ton and 397.7g/t silver within a 12.2m intercept of 9.5g/t gold and 109.4g/t silver, with true thicknesses estimated at 65% of the respective intervals (previously reported).
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. Three of Bravada's ten Nevada properties are being funded by partners. As well, there are no NSR-type royalties to vendors that cannot be reduced. Bravada's value is underpinned by a substantial gold and silver resource with a positive PEA at Wind Mountain and has significant upside potential from possible new discoveries at its exploration properties, most of which host encouraging drill intercepts of gold and already have drill targets developed.
OceanaGold is a multinational gold producer with global operating, development and exploration experience.
OceanaGold is committed to the highest standards of technical, environmental and social performance and is continuously working to innovate and improve the way we explore, extract and process minerals. Operating assets include: the Didipio Mine on Luzon Island in the Philippines, the Macraes Operations in the South Island of New Zealand, the Waihi Operation in the North Island of New Zealand and Haile Gold Mine in South Carolina, United States of America.
OceanaGold has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific, and a track record for converting discoveries into production.
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
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 newinformation, future events or otherwise, except to the extent required by applicable law.