Bravada Drills Additional Higher Grade Results at Wind Mountain Au/Ag Project, Nevada
Bravada Drills Additional Higher Grade
Results at Wind Mountain Au/Ag Project,
Nevada
HIGHLIGHTS
Assays for six additional holes from the
Resource Upgrade program
are reported, increasing to
nine holes that intersected thicker zones of near-surface, oxidized, higher-than-average gold and
silver grades.
Hole WM21-111 (released here) returned
21.3m of 1.235g/t Au & 20.4g/t Ag within an
oxidized interval of 77.7m of 0.518g/t Au & 12.1g/t Ag
, located ~250m to the southwest of hole
WM21-109
.
Hole WM21-109 (previously released, see NR-07-21, July 12, 2021) returned
10.7m of 1.342g/t
Au & 45.3g/t Ag within an oxidized interval of 47.2m of 0.771g/t Au & 24.2g/t Ag.
Wind Mountain disseminated mineralization occurs along a +4km-long zone of multiple, gently
south-dipping mineralized horizons that are partially offset by post-mineral faults. Drilling confirms
that higher grades occur within these horizons along several northeast-, north-, and northwest-
trending fracture zones, and that within these fracture zones are narrow intercepts with much higher
grades of gold and silver.
Feeder target
drill holes extended the banded quartz vein zone to +330m beneath overburden and
mine waste, and multi-element geochemistry is consistent with vein mineralogy and textures
indicating the holes intersected the top of a well-zoned vein system with potentially high-grade gold
below current drilling.
Vancouver, British Columbia--(Newsfile Corp. - September 7, 2021) -
Bravada Gold
Corporation
(TSXV: BVA) (FSE: BRTN) (the "Company" or "Bravada")
reports assays for the final 10
In-fill, Expansion, and Exploration reverse-circulation holes drilled at the Company's wholly owned Wind
Mountain Au/Ag Project in northwestern Nevada. The recently completed program totaled 17 holes
(2,186.8 metres) and consisted of 13 holes (1,324.3 metres) into under-drilled portions of and potential
extensions of the existing oxide resource near the Breeze open pit and four holes (862.5 metres) at the
Feeder target
to offset a vein zone encountered in hole WM20-102, which intersected
1.5 metres of
0.404g/t Au and 269.0g/t Ag
within a thicker interval of quartz veining with anomalous gold and silver
mineralization.
Resource Upgrade Program
Assays from the final six holes of the Resource Upgrade program continue to provide additional
encouraging results (see attached summary of drill intercepts). Nine holes of the 13-hole program
returned near-surface, thick zones of oxidized gold and silver with higher grades than estimated for those
areas in the 2012 Resource Estimate/PEA, confirming our 3D geologic model.
This program focused on a shallow portion of the 2012 Resource with strongly oxidized mineralization
that is exposed in surface outcrops and in the small Breeze open pit (Amax 1990's). Disseminated gold
and silver mineralization occurs in multiple, gently south-dipping mineralized horizons, which were
permeable horizons and possibly boiling horizons. Higher grades occur within the disseminated horizons
along several northeast, north, and northwest fracture zones. Within these fracture zones are narrow
intercepts of much higher grades of gold and silver mineralization, often with 1.5m and longer drilled
intervals returning 1 to +10 grams gold per tonne (g/t) and 50 to +300g/t silver.
President, Joe Kizis, commented,
"We are pleased that this phase of the Resource Upgrade program
successfully demonstrates that higher grades exist where our 3D model predicts. The holes provide
higher confidence to model these zones for our planned Q1 2021 update to the 2012 Resource and
PEA in an area that was largely categorized as Indicated Resource, a category that is acceptable for
Pre-feasibility Studies, and which may be developed into a near-term Phase I open-pit/heap-leach
mining operation."
Wind Mountain - 2021 Drilling Program - Significant Assay Intervals
Resource In-fill/Expansion
From (metres)
To
Length
Au PPM
Ag PPM
Au-eq PPM
Comments
WM21-110
6.1
12.2
6.1
0.196
5.2
0.270
Oxide
and
21.3
86.9
65.5
0.432
18.7
0.699
Oxide
including
50.3
64.0
13.7
0.704
46.9
1.373
Oxide
and
86.9
93.0
6.1
0.223
11.6
0.389
Mixed
WM21-111
0.0
13.7
13.7
0.362
6.9
0.461
Mine dump
and
13.7
91.4
77.7
0.518
12.1
0.690
Oxide
including
25.9
47.2
21.3
1.235
20.4
1.527
Oxide
WM21-112
0.0
4.6
4.6
0.222
11.4
0.385
Mine dump
and
15.2
57.9
42.7
0.465
13.3
0.655
Oxide
WM21-113
0.0
7.6
7.6
0.279
7.6
0.388
Mine dump
and
15.2
80.8
65.5
0.515
15.7
0.740
Oxide
including
16.8
33.5
16.8
1.158
22.6
1.481
Oxide
and
80.8
89.9
9.1
0.174
9.6
0.311
Mixed
WM21-114
0.0
12.2
12.2
0.300
5.8
0.382
Mine dump
and
48.8
70.1
21.3
0.232
8.4
0.352
Mixed
WM21-115
16.8
38.1
21.3
0.231
4.8
0.300
Mixed
and
64.0
73.1
9.1
0.259
5.3
0.334
Unoxidized
S Feeder Target
WM21-116
149.3
158.5
9.1
0.183
3.6
0.234
Unoxidized (note
6)
WM21-117
91.4
97.5
6.1
0.189
5.3
0.265
Oxide
and
134.1
138.7
4.6
0.306
13.3
0.496
Unoxidized (note
7)
WM21-118
108.2
117.3
9.1
0.128
17.3
0.375
Unoxidized
and
126.5
134.1
7.6
0.062
41.4
0.653
Unoxidized
WM21-119
9.1
16.8
7.6
0.231
4.1
0.290
Oxide
and
82.3
88.4
6.1
0.243
10.0
0.386
Unoxidized
1) Drill intervals of 20 feet or greater averaging greater than or equal to 0.300ppm Au or 0.150 ppm Au-eq as potentially above cut-off
grade in open pit/heap leach in Nv.
2) R.C. drilling with entire sample crushed & puverized to create a 500-gram pulp with 30-gm FA/AAS for Au & 0.5gm ICP for Ag.
3) True thickesses not known, but expected to be ~70% or greater.
4) Caution: Ag recovery is highly variable in oxidized mineralization, thus 70:1 (Ag:Au) metal-price ratio for Au-eq probably significantly
over estimates Au-eq for evaluating economics but useful for zoning. Tests needed to evaluate recovery variation by crush size, grade, etc.
5) Rounding errors converting from footages explain conflicts in intervals for metric intervals.
6) WM21-116 Interval 0-61m not assayed (near repeat of WM21-102).
7) WM21-117 reported as 15 feet because 5-foot sample above was lost as the drill entered the vein zone.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5343/95629_55e35ae88406f9eb_002full.jpg
Feeder Target Exploration
Four holes were drilled to offset a vein zone encountered in hole WM20-102, which intersected
1.5
metres of 0.404g/t Au and 269.0g/t Ag
within a thicker interval of quartz veining with anomalous gold
and silver mineralization. Hole WM21-116 was designed to test beneath the intercept in hole -102;
however, the hole flattened significantly, testing much shallower and only intersecting moderately
anomalous silver and gold. Hole WM21-117 also shallowed significantly and intersected only somewhat
deeper than hole -102 with several 1.5m intervals of anomalous silver up to 54g/t Ag. Hole WM21-118
did not cross the fault but intersected narrow banded quartz vein zones with 1.5m intervals up to 78g/t
Ag. Hole WM21-119 tested a projection of the fault/vein zone but unfortunately lost several samples
crossing the zone; however, hole -119 did encountered anomalous values of gold and silver in banded
low-temperature quartz veins at shallower levels than hole -102.
President, Joe Kizis, commented,
"All four of the 2021 holes in the Feeder Target intersected banded
quartz veins with anomalous selenium and precious metals beneath an intense halo of mercury and
chalcedonic silica flooding. Zoning in geochemistry, alteration, and silica textures indicate upwelling
hydrothermal fluids, but at a level above expected major gold deposition. Deeper testing of the
banded quartz veins is justified, and new sites will need to be permitted. The upwelling zone
constrained between impermeable Mesozoic metasediments and Tertiary volcanic rocks is a very
attractive target for vein development."
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5343/95629_55e35ae88406f9eb_003full.jpg
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5343/95629_55e35ae88406f9eb_004full.jpg
About Wind Mountain
The Wind Mountain Property is in northwestern Nevada approximately 160km northeast of Reno in a
sparsely populated region with excellent logistics, including county-maintained road access and a power
line to the property. It is an historic past-producing, bulk-tonnage gold-silver mine. An independent
resource estimate and Preliminary Economic Evaluation for Wind Mountain commissioned by Bravada
in 2012 reported:
570,000 ounces of gold and 14.7 million ounces of silver in the Indicated category, and
354,000 ounces of gold and 10.1 million ounces of silver in the Inferred category.
See the table below and news release NR-06-12 (April 11, 2012) for details of the resource update.
Mineral resources that are not mineral reserves do not have demonstrated economic viability. Inferred
resources are considered too speculative geologically to have economic considerations applied to them
that would enable them to be classified as mineral reserves. There is no assurance that any part of the
resources will ultimately be converted to mineral reserves.
Tons
oz Au/T
oz Ag/T
Tonnes
gms Au/T
gms Ag/T
oz Au
oz Ag
Indicated
resource
Oxide at 0.005
oz Au/ton cut off
58,816,000
0.010
0.25
53,372,051
0.343
8.6
564,600
14,539,000
Mixed/Sulfide at
0.01 oz Au/ton
cut off
498,000
0.012
0.40
451,906
0.411
13.7
5,900
197,000
Total
59,314,000
53,823,956
570,500
14,736,000
Inferred
resource
Oxide at 0.005
oz Au/ton cut off
19,866,000
0.006
0.17
18,027,223
0.206
5.8
125,200
3,443,000
Mixed/Sulfide at
0.01 oz Au/ton
cut off
14,595,000
0.016
0.46
13,244,102
0.549
15.8
229,100
6,672,000
Total
34,461,000
31,271,325
354,300
10,115,000
Mine Development Associates compiled the Technical Report and PEA. Thomas Dyer, P.E. is a Senior
Engineer for MDA and is responsible for sections of the Technical Report involving mine designs and
the economic evaluation, and Steven Ristorcelli, C.P.G., is a Principal Geologist for MDA and is
responsible for the sections involving the Mineral Resource estimate. These are the Qualified Persons of
the technical report for the purpose of Canadian NI 43-101, Standards of Disclosure for Economic
Analyses of Mineral Projects. Details of the PEA produced by Mine Development Associates (MDA) of
Reno can be found on SEDAR, as previously reported (see NR-07-12 dated May 1, 2012). Note that
although the PEA was encouraging, it is preliminary in nature, it includes Inferred mineral resources that
are considered too speculative geologically to have economic considerations applied to them that would
enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be
realized.
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/95629