Bravada Reports Assays for 7 of 13 Resource In-Fill/Expansion Holes, Wind Mountain Au/Ag Project, Nevada
Bravada Reports Assays for 7 of 13 Resource
In-Fill/Expansion Holes, Wind Mountain Au/Ag
Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2021) -
Bravada Gold Corporation
(TSXV:
BVA) (FSE: BRTN) (OTCQB: BGAVF) (the "Company" or "Bravada")
reports assays for the first batch
of seven In-fill and Expansion 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:
a)
13 holes (1,324.3 metres) into under-drilled portions of and
potential extensions of the existing oxide resource near the Breeze open pit where shallow, higher-than-
average gold and silver grades are expected based on geologic projections, and
b)
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 4.5g/t Au-eq (0.404g/t Au and 269.0g/t Ag)
within a thicker interval of quartz veining with
anomalous gold and silver mineralization.
Wind Mountain - 2021 Drilling Program - Significant Assay Intervals
From
(metres)
To
Length
Au PPM
Ag PPM
Au-eq
PPM
Comments
WM21-103
0.0
21.3
21.3
0.441
16.3
0.673
Oxide
WM21-104
18.3
93.0
74.7
0.264
6.7
0.360
Oxide
102.1
117.3
15.2
0.211
6.9
0.310
Mixed
WM21-105
22.9
33.5
10.7
0.180
6.0
0.265
Oxide
and
33.5
48.8
15.2
0.475
13.7
0.671
Oxide
and
48.8
56.4
7.6
0.179
10.1
0.323
Oxide
and
70.1
91.4
21.3
0.385
13.7
0.581
Mixed
WM21-106
36.6
56.4
19.8
0.190
2.4
0.224
Oxide
and
56.4
100.6
44.2
0.448
12.1
0.621
Oxide
and
100.6
114.3
13.7
0.195
10.3
0.342
Oxide
and
120.4
137.2
16.8
0.185
0.0
0.185
Sulfide
WM20-107
0.0
6.1
6.1
0.226
4.4
0.289
Oxide
and
15.2
82.3
67.1
0.416
15.1
0.632
Oxide
and
86.9
97.5
10.7
0.177
8.6
0.300
Mixed
and
103.6
117.3
13.7
0.152
7.5
0.259
Mixed
WM21-108
16.8
22.9
6.1
0.316
15.0
0.530
Oxide
and
29.0
79.2
50.3
0.602
19.5
0.881
Oxide
and
79.2
96.0
16.8
0.25
12.5
0.432
Mixed
WM21-109
18.3
39.6
21.3
0.456
7.1
0.587
Oxide
and
39.6
86.9
47.2
0.771
24.2
1.117
Oxide
including
47.2
57.9
10.7
1.342
45.3
1.989
Oxide
and
86.9
106.7
19.8
0.205
14.1
0.406
Mixed
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.
President Joe Kizis commented,
"The purpose of this drill program was to validate our belief in the
extension of the gold oxide resource in areas which were not mined when the property was in
production by its previous owner. The geologic model for the shallow, oxide gold resource is validated,
based on assay results from the first batch of drill results. The holes generally contain thicker and
stronger gold and silver mineralization than projected into those areas for the 2012 Independent
Resource Estimate, which was based on insufficient drilling available in 2012 for these areas and were
thus given low or no resource estimates.
Holes WM21-108 and -109 are particularly exciting because they expand an area with similarly strong
assays in nearby historic drill holes, suggesting the area is a possible up-welling zone from a feeder
vein system at depth, which we will evaluate further via 3D modeling and possibly follow-up drilling
later this year with the intention to obtain a current independent resource calculation of the expanded
oxide gold resource of the property."
Wind Mountain Project drill hole locations
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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 dated 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.
Current resource calculations
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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.
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