Bravada/OceanaGold Announce 2019 Work Program for the Highland Gold/Silver Project in Nevada
Bravada/OceanaGold Announce 2019 Work Program for
the Highland Gold/Silver Project in Nevada
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2019) - Bravada Gold Corporation
(TSXV: BVA) (OTCQB: BGAVF)
(FSE: BRTN) ("Bravada") announces that the
Highland Project
Technical Committee composed of Bravada and Option/Joint
Venture partner
OceanaGold U.S. Holdings Inc. ("OceanaGold")
, a wholly owned subsidiary of
OceanaGold Corp.
have
approved a +US$400,000 exploration program for 2019.
Planned work includes additional geological mapping, approximately 35-line-kilometers of detailed geophysics, 35-line-
kilometers of soil sampling for assay and XRF study, and permitting for a 2020 drilling campaign. The project has been
increased in size by 60% through staking additional claims and now consists of 163 claims (approximately 1,300
hectares/3,200 acres).
As previously announced (see news release NR-09-18 dated December 20, 2018), OceanaGold may earn up to a 75 percent
interest in Bravada's low-sulfidation
Highland gold/silver project
in Nevada's Walker Lane Gold trend.
President Joe Kizis commented,
"Highland has characteristics of the world's great Low-sulfidation gold deposits. The extent of
alteration and veining is very large, and surface sampling and limited drilling have demonstrated that this large system is
capable of hosting high grades of gold and silver. Extensive areas of sinter demonstrate that the gold zone has not yet been
eroded and should be preserved in its entirety at depth.
We believe the careful, systematic approach laid out in the work program will result in great success with the drill, as has been
demonstrated by OceanaGold elsewhere in the world for similar deposits. Low-sulfidation deposits worldwide are among the
most attractive, highest-margin gold/silver deposits, with many exploited by small-footprint, underground mining and
relatively benign milling operations. An important characteristic of low-sulfidation deposits is that they typically occur as
clusters of similar-grade deposits, many of which may be blind at surface. Discovery rates tend to be high in such districts
long after mining has begun. Highland's location in an established mining region in Nevada reduces risks associated with
land tenure, logistics, and capital and operation costs when compared to many regions of the world."
About Highland
- The Highland low-sulfidation-type project consists of 163 Federal lode claims for a total of approximately
1,300 hectares and is located along the Walker Lane Gold trend of western Nevada. Previous drilling by Bravada's US
subsidiary intersected vein zones with locally high-grade intercepts; the Company's best hole, H02013, intersected 1.5 meters
(m) of 66.9 grams of gold per ton (g/t) 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 intervals. A thin layer of alluvial gravel covers much of the property and several targets have
been identified that have not been previously tested with drilling.
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. The Company has successfully identified and advanced properties that have the potential to host high-margin
deposits while successfully attracting partners to fund later stages of project development. With the addition of OceanaGold's
option of Highland, four of Bravada's eleven 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 the Company has significant upside potential from possible new discoveries at its
exploration properties, most of which host encouraging drill intercepts of gold and which already have drill targets developed by
the Company.
About OceanaGold
OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New
Zealand and the United States. The Company's assets encompass the Didipio Gold-Copper Mine located on the island of
Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on
the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is
made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company operates the Haile
Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of
organic growth and exploration opportunities in the Americas and Asia-Pacific regions.
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
.
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/44004