Bravada Drilling Underway at Highland and Permitting Underway for Drilling at Wind Mountain, Nevada
August 25, 2020
Vancouver, British Columbia - (Newsfile Corp. - August 25, 2020) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") announces diamond drilling is underway at its Highland gold/silver project. Hole HL-1 is the first of two core holes planned for the Big Hammer Target.
Figure 1: Big Hammer Target Section looking Northwest - Highland Project
The 2020 exploration program is being 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$10 million following which Bravada will participate in joint-venture exploration and development on a 75/25% basis (for details, see News Release NR-09-18, December 20, 2018).
In other project news, Bravada has completed 3D modeling at its 100% owned Wind Mountain gold/silver project and is in the process of modifying its existing drill permit to include four new drill sites. Each site can be used for multiple drill holes and three or four reverse-circulate drill holes are planned for late fall or early winter.
President Joe Kizis comments, "A number of features point to the targeted area being the ultimate source, known as the "upwelling" or "feeder" zone, for the large amount of disseminated gold and silver mineralization previously mined by Amax Gold as well as the remaining resources defined by Bravada. Evidence has been gleaned from historic shallowcondemnation drill holes, geological mapping, geochemical sampling, and magnetic geophysics. What is exciting about this target is that the ore-bearing fluids should have been more confined at this deeper level compared to the shallower level where disseminated mineralization was deposited, resulting in significantly higher grades of gold being deposited. Disseminated gold and silver mineralization is exposed over +6km of strike length, and these planned holes will be the first relatively deep holes into the possible feeder zone of this large hydrothermal system."
Figure 2: Wind Mountain Feeder Target Concept
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. 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 764 claims for approximately 6,100 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 http://www.bravadagold.com/en/management-videos.php.
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."
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.