Bravada Reports Results of Recent Drilling and Status of Updated PEA at Wind Mountain Au/Ag Project, Nevada
September 20, 2022
Bravada Gold Corporation (the "Company" or "Bravada") has received assay results for the three deep reverse-circulation holes drilled during 2022. The holes tested below a banded vein zone discovered in Q4 2020 beneath mine waste and other overburden at the Feeder target, located approximately 450m south of the Wind Open Pit and where hole WM20-102 intersected 1.5 metres of 269.0g/t Ag and 0.404g/t Au within a thicker interval of banded quartz veining with anomalous gold and silver. The three 2022 holes intersected zones of low-grade disseminated gold and silver within the Truckee Formation, which is the host for the current resource of disseminated oxide gold north of the Feeder target. However, the banded quartz vein zone did not persist to the depths tested. Below disseminated mineralization in the Truckee Formation, however, many vein zones were encountered in the holes which are enriched in manganese, barium, tungsten, nickel, and zinc.
President Joe Kizis commented, “It may be that the banded quartz veins intersected during 2020 and 2021 at shallower depths than we tested in 2022 are a result of boiling of a younger, and possibly less gold-rich hydrothermal fluid than the fluids responsible for the large, disseminated mineralization farther north. The widespread manganese-rich zones that we encountered deep during this program are very similar to late-stage black manganese carbonate veins that are unmineralized and cut gold mineralization in the Wind Pit. We now will direct our full attention at Wind Mountain to de-risking the disseminated oxide gold resource towards production with the next important step being the independent, updated Resource and PEA that is now well underway with results expected early in Q4 2022.”
Figure 1. Aerial photo of the Feeder Target showing 2022 RC drill holes and the pre-mineral fault/vein zone between uplifted impermeable Mesozoic basement rocks (southeast) and variably permeable Tertiary volcanic and sedimentary rocks (northwest).
Table 1. Details of 2022 Reverse-circulation drilling.
Figure 2. Variations in geochemistry are apparent between shallow precious-metal-enriched zones and deeper zones, with a possible vector to an upwelling source of hotter temperature fluids to the west. Precious-metal-rich zones in these holes are strongly silicified with relatively barren, clay-rich horizons above and between them.
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.
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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.