(Updated February 4th, 2021)
Bravada has an interest in 54 claims that comprise the Shoshone Pediment property. Bravada acquired the property from Placer Dome to evaluate low-level gold and encouraging pathfinder geochemistry that are widespread at surface in generally unfavorable Upper Plate rocks. The Property is near the northwestern projection of a series of small gold deposits in Upper Plate rocks at US Gold's Slaven Canyon property, approximately 1.5 to 8km southeast of the Property. The more prospective Lower Plate carbonates are at an unknown depth at Shoshone Pediment. Although gold mineralization may exist in the Upper Plate rocks, which also host the barite mineralization, Nevada’s largest gold deposits typically occur in underlying Lower Plate carbonate host rocks, which have not been tested by drilling at Shoshone Pediment.
Barite was historically produced from an open pit adjacent to the Shoshone Pediment property and the rights to barite at the Property were purchased by Baker Hughes, for which the Company will receive a royalty for any barite produced from the property. Bravada reserves the rights to explore for and mine gold and other metals. Baker Hughes is in the process of permitting an open-pit operation, with production possible in the 2021/2023 timeframe. Timing will depend on several factors, most importantly the price of barite, which is strongly correlated with the oil industry due to its use as an inert weighting additive to drilling muds.