Bravada Reacquires 100% of Highland Gold/Silver Project, Nevada; Initiates Permitting for 2021 Drilling at Big Hammer Target
Bravada Reacquires 100% of Highland
Gold/Silver Project, Nevada; Initiates
Permitting for 2021 Drilling at Big Hammer
Target
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2020) -
Bravada Gold
Corporation (TSXV: BVA) (FSE: BRTN) (OTCQB: BGAVF)
(the "Company" or "Bravada")
announces that it has reacquired 100% of the
Highland gold/silver project
after
OceanaGold US
Holdings Inc. ("OceanaGold")
, a wholly owned subsidiary of
OceanaGold Corp.,
elected not to
continue earning an interest. OceanaGold stated it has made the strategic decision to focus on organic
growth at its existing mine properties.
Big Hammer Target Section looking Northwest - Highland Project
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The 2020 Highland exploration program was funded by OceanaGold and consisted of limited field
mapping, surface sampling for geochemical and clay-species data, and drilling two core holes at the Big
Hammer Target. The drill holes were designed to explore for high-grade vein zones along several faults
interpreted on a series of CSAMT geophysics lines collected during OceanaGold's 2019 exploration
program at Highland. The cross-section above shows the four suspected faults (identified as F1 through
F4) that were chosen for drill testing. Hole HL-1 tested an area covered by alluvial soil and confirmed
faults F1 and F2; however, weak alteration and low-level gold and pathfinder geochemistry do not
indicate proximity to significant gold mineralization where these faults were intersected.
In contrast, hole HL-2 intersected a series of faults at F3 with widespread low-temperature silica
alteration in the upper portion of the hole along with pervasive anomalous gold (<0.1g/t Au) and arsenic
(100-300ppm As) geochemistry; however, the hole was terminated due to higher-than-expected drilling
costs prior to reaching F4. Widespread samples of float, outcrop, and soils collected around both F3
and F4 contain anomalous gold and pathfinder geochemistry, with values in generally in the range of
0.1g/t to 1.0/g/t Au but with a maximum assay of 15g/t Au.
President Joe Kizis commented,
"Based on analogies with some known low-sulfidation deposits, the
type of widespread alteration and geochemistry that we encountered at surface and in HL-2 may lie
above high-grade gold veins by only a couple of hundred meters or less. We plan to complete hole
HL-2 to test the originally targeted zone in F4, as well as to test F3 approximately 200m below the
interval intersected in hole HL-2."
A permit is being prepared for submission to the BLM for the offset holes and, additionally, for a fence of
holes to test possible extensions of the F3 and F4 faults approximately 500 meters to the south-
southeast of HL-2, where alteration and anomalous gold (0.1 to 1.0g/t Au) occurs in samples of float and
in samples from shallow historic drill holes. Drilling at Big Hammer is anticipated to begin in late Spring
or early Summer 2021 depending on weather conditions.
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. Two of Bravada's ten Nevada properties are being funded by partners. 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://www.bravadagold.com/en/management-videos.php
.
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.
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