Bravada Commences 2020 Work Program at the Highland Gold/Silver Project in Nevada, Funded by OceanaGold
Bravada Commences 2020 Work Program at the Highland
Gold/Silver Project in Nevada, Funded by OceanaGold
Vancouver, British Columbia--(Newsfile Corp. - April 7, 2020) -
Bravada Gold Corporation
(TSXV: BVA) (OTCQB: BGAVF)
(FSE: BRTN) ("Bravada" or "Company") announces the commencement of field work at the
Highland Gold/Silver Project,
located in Nevada's Walker Lane Gold trend. The 2020 Phase 1 US$250,000 exploration program will be conducted by
Bravada and 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$10million
(News Release NR-09-18, December 20, 2018).
Although Bravada and previous partners intersected high-grade gold and silver in drill holes on the western portion of Highland,
most of the property remains untested due to poor outcrop exposure and extensive shallow gravel cover. OceanaGold's 2019
work program focused on the eastern portion of the property where minimal erosion is indicated by the presence of extensive
sinter. Potentially high-grade gold mineralization may lie beneath sinter as indicated by widespread gold anomalies in surface
samples. Combining OceanaGold's 2019 work with pre-Bravada shallow drilling and Bravada's previous mapping and sampling
in the area has resulted in the identification of several attractive target areas (see below).
Highland Project Target Areas
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Field work began with staking 29 new claims, increasing the property to 192 claims (~1,554 hectares). The claims cover
structures identified by CSAMT geophysics and geological mapping, which define the Eastern Graben. Graben-margin faults
are often important channel-ways for low-sulfidation fluids and high-grade gold/silver deposits may form where the fluids boil at
some depth below the paleosurface. The gold-depleted fluids may continue up to the paleosurface where they form sinter pools.
Anomalous gold values are widespread in surface samples along the Eastern Graben and the extensive area of usually barren
sinter exposed in the Eastern Graben indicates that zones of gold deposition should be preserved in their entirety.
Detailed targeting is planned prior to permitting drill sites but timing of that work will be subject to safety restrictions related to the
COVID-19 pandemic. Permitting is planned once detailed targeting has been completed and assays are received, with one or
two core holes planned following receipt of drill permits.
Previous drilling by Bravada's US subsidiary at the Western Vein Targets and surface gold anomalies along margins of the
Western Graben and Eastern Graben demonstrate a large and vigorous gold system. The best hole drilled by Bravada was
H02013 at the Western Vein Targets, which intersected
1.5 meters of 66.9 grams of gold per ton and 397.7g/t silver within
a 12.2m intercept of 9.5g/t gold and 109.4g/t silver,
with true thicknesses estimated at 65% of the respective intervals
(
previously reported
).
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. Three of Bravada's ten Nevada properties are being
funded by partners. As well, there are no NSR-type royalties to vendors that cannot be reduced. Bravada's value is underpinned
by a substantial gold and silver resource with a positive PEA at Wind Mountain and has significant upside potential from
possible new discoveries at its exploration properties, most of which host encouraging drill intercepts of gold and already have
drill targets developed.
About OceanaGold
OceanaGold is a multinational gold producer with global operating, development and exploration experience.
OceanaGold is committed to the highest standards of technical, environmental and social performance and is continuously
working to innovate and improve the way we explore, extract and process minerals. Operating assets include: the Didipio Mine
on Luzon Island in the Philippines, the Macraes Operations in the South Island of New Zealand, the Waihi Operation in the North
Island of New Zealand and Haile Gold Mine in South Carolina, United States of America.
OceanaGold has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific, and a
track record for converting discoveries into production.
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
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.
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