Bravada Fully Permitted for Drilling at the Highland Project, Nevada
July 15, 2020
Vancouver, British Columbia - (Newsfile Corp. - July 15, 2020) - Bravada Gold Corporation (TSXV: BVA) (the "Company" or "Bravada") announces it has received final approval of a drilling permit for its Highland gold/silver project, located in Nevada's prolific Walker Lane gold trend. The BLM permit allows for drilling on 12 sites over a two-year period, which can be extended for additional periods.
Recent field work focused on two targets in the eastern portion of the Project: Big Hammer and Geyser, which are approximately 2.5km apart. For the remainder of 2020, two core holes are planned on the Big Hammer Target (See target concept figure below). A drilling contract has been signed, and the drill is expected to arrive on site in early to mid-August. 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 reviewed various next-step techniques to further refine the Feeder target at its wholly owned Wind Mountain project and has decided the most cost-effective approach is to drill a fence of angle reverse-circulation drill holes across the center of the target area. Modeling in 3D will be completed soon and the Company's existing permit will be modified to include the new drill sites. Drilling the fence of holes is being planned for late fall or early winter 2020.
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.