Bravada Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants and Updates Wind Mountain Program
Bravada Announces the Extension of the
Expiry Date of Certain Common Share
Purchase Warrants and Updates Wind
Mountain Program
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2022) - Bravada Gold Corporation (TSXV:
BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada") reports that the Company will be
extending the exercise period of a total of 6,434,000 share purchase warrants, all of which are
exercisable at $0.12 per share (collectively, the "Warrants"). The Warrants were issued on July 23, 2018,
pursuant to a private placement (see news release NR-07-18) and are scheduled to expire on July 23,
2022. The Company proposes to extend the expiry by one (1) year, and accordingly, the new expiry date
for the warrants will be July 23, 2023.
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to
acceptance by the TSX Venture Exchange.
Wind Mountain Program Update
Bravada's two-pronged approach to adding value at its wholly owned Wind Mountain gold/silver project
in Nevada is progressing as planned after minor delays due to contractor availability.
Thirteen reverse-circulation (RC) holes were drilled during 2021 to in-fill a shallow, under-drilled portion
of the existing resource with results successfully demonstrating higher-grade concentrations of gold and
silver. A resource update is underway and will form the basis of a Preliminary Economic Assessment
(PEA) for a Phase 1 "Starter Pit" with studies to be released in early Q3 2022. This part of the program
should upgrade the quality of shallow mineralization already discovered.
Renewed RC drilling at Wind Mountain is expected to begin on July 5
th
or 6
th
. Three or four holes,
approximately 4,000' (1,200m), are planned from newly permitted drill sites to test beneath a zone of
banded quartz veins intersected in December 2020 and followed up along strike in mid-2021. The vein
zone is interpreted as a potentially important zone of upwelling, referred to as a feeder zone. Evidence
includes the first banded quartz veins intersected in hole
WM20-102, which intersected
1.5 metres of
269.0g/t Ag and 0.404g/t Au
within a thicker interval of banded quartz veining together with anomalous
gold and silver. Four 2021 holes traced the banded vein zone beneath mine waste and gravel cover for
approximately 330 metres, but the holes shallowed and did not test deeper in the vein zone than did
WM20-102.
The new sites and larger RC drill rig should be able to test the vein zone approximately 150m deeper
than the existing vein intersection. This part of the program is designed to test for high-grade gold and
silver mineralization that is often found in upwelling/feeder zones of low-sulfidation deposits worldwide, a
potential "game changer" for the project.
WM Feeder Target Cross Section Silver
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About Bravada
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.
-30-
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/129645