Bravada Expands Claim Package at the SF Carlin-Type Gold Project, Nevada
August 11, 2020
Vancouver, British Columbia - (Newsfile Corp. - August 11, 2020) - Bravada Gold Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") has purchased, subject to TSXV Exchange approval, 37 mining claims adjacent to Bravada's SF property, expanding the project to 103 claims (approximately 800 hectares). SF is a Carlin-type gold property located along the Battle Mountain-Eureka Gold trend, ~6 kilometers east of Barrick's Goldrush development-stage gold mine in the prolific Cortez district. The Company is acquiring 100% interest in the claims from a private company for 350,000 common shares and a retained 2% NSR, of which one half (1% NSR) can be purchased for US$1million.
Bravada completed two proof-of-concept R.C. holes (878m total) in 2019 on the Company's claims close to the boundary with the acquired claims. Bravada's holes intersected anomalous gold and base- metals within the Horse Canyon and Wenban formations (see Figure 1), which are repeated in the holes due to a sequence of stacked thrust sheets.
The two holes successfully verified favorable host rocks and structure, as well as a gold-bearing hydrothermal system. These geologic features are similar to those at Goldrush and extend onto the newly acquired claims based on surface mapping, alteration, geochemistry, and numerous, narrow gold intercepts of +0.1 ppm (Maximum 0.664 ppm Au) in hole HC04-1. The property acquisition includes an extensive database that will be combined with Bravada's existing database to guide next-stage work at the expanded SF Project.
President Joe Kizis commented, "SF is in one of the most exciting gold-discovery regions in Nevada, as demonstrated by exceptional results at Goldrush and its apparent northerly extension, Red Hill.
Bravada believes that SF is in a similar geological setting to Barrick's impressively large and rich gold deposits. We believe follow-up work is justified at SF, and the expanded claim position provides us with more flexibility in tracing the "smoke" that we intersected in our 2019 drill holes."
Figure 1: SF Interpreted Cross Section Geology.
In other project news, Bravada expects drilling to begin at the Highland project around August 15th and at the Wind Mountain project late fall or early winter 2020. Field work was recently conducted on two target areas at Highland, located 2.5km apart, and the Big Hammer target will be tested with an initial two core holes. Additional field work is planned for the Geyser target in preparation for drilling in 2021. A permit for 12 sites has been approved and bonded to allow drilling at both targets.
A fence of 3 or 4 reverse-circulate drill holes is planned across the Feeder target at Wind Mountain after 3D modeling and modifications to the existing permit have been completed. Previous drilling, mapping, geochemical sampling, and magnetic geophysics all point to a defined area as the "feeder" source of the large amount of disseminated mineralization, which includes previous production and current resources. This program will be an initial test of the refined Feeder target.
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.